Planning to avail a personal loan? Compare the interest rates charged by various lenders before you decide.

Most lenders charge a lower rate from borrowers with high credit score & high interest rate from those with low credit score.

Top 5 banks with the lowest interest rates at the moment:

HDFC Bank: Interest rate ranges between 10.75% to 24% per annum on the loans it disburses
Processing fees for the loan is ₹4,999 plus GST; gives a loan up to ₹40 lakh

ICICI Bank: Charges anywhere between 10.65% to 16% per annum on loans
Loan processing charges of loan are up to 2.5% of loan amount plus applicable taxes

SBI: Interest rate starts from 11.15%; Gives loans up to ₹20 lakh even to customers who don’t have an account with SBI

Kotak Mahindra Bank: Gives personal loans in the range of ₹50,000 to ₹40 lakh at an interest rate starting at 10.99%
Loan processing charges are up to 3% of loan amount plus applicable taxes

PNB: Charges 13.75% to 17.25% based on the credit score from corporate employees
Lowest interest rate on personal loans for to govt employees is 12.75%; Lowest rate for defence personnel is 12.4%

(Disclaimer: The opinions expressed by experts on the Sakshi website regarding the market are based on their observations and estimates. This information is provided solely for the benefit of investors. Investments in the stock market are subject to market risks, please carry out your due diligence before investing. Sakshi Media Group does not provide any guarantee and assumes no responsibility for the investments made based on these opinions.)