Personal Loan: Interest Rates: Overview

Interest rates charged on personal loans vary across various banks. There are primarily 3 kinds of interest rates, most commonly offered by banks are:

Fixed interest rate
Floating interest rate
Flat rate

Of the rates offered, flat rates can be considered the most expensive as in other cases, the reducing balance method is used for calculation.

Tools and Calculators

Personal Loan Comparator

Compare various personal loan lenders as per your specifications.

EMI Calculator
Calculates probable EMI given the loan amount, tenure and interest rate.

Personal Loan Eligibility Calculator

Calculates your eligible loan amount.

Personal Loan Interest Rates as on 11 Jun, 2009

Banks	Category Salaried Employer A	Category Salaried Employer B	Category Salaried Employer C	Salaried / Un-approved Category	Self-Employed / Professionals	Self-Employed / Non-Professionals
Abhyuday Co-op Bank Ltd	16.0	16.0	16.0	NA	16.0	NA
ABN Amro	17.0 - 22.0	17.0 - 22.0	17.0 - 22.0	NA	17.0 - 22.0	NA
Allahabad Bank	13.25	13.25	13.25	NA	13.25	NA
Andhra Bank	16.0 - 16.25	16.0 - 16.25	16.0 - 16.25	NA	16.0 - 16.25	NA
Apna Sahakari Bank Ltd	16.0	16.0	16.0	NA	16.0	NA
Axis Bank	15.0	18.0	22.0	23.0	15.0 - 18.0	23.0
Bank of Baroda	14.5	14.5	14.5	NA	14.5	NA
Bank of India	12.25	12.25	12.25	NA	12.25	NA
Bank of Maharashtra	14.75	14.75	14.75	NA	14.75	NA
Canara Bank	15.0	15.0	15.0	NA	15.0	NA
Catholic Syrian Bank	17.25	17.25	17.25	NA	17.25	NA
Central Bank of India	12.0 - 13.0	12.0 - 13.0	12.0 - 13.0	NA	12.0 - 13.0	NA
Chola DBS Finance	19.0 - 30.0	19.0 - 30.0	19.0 - 30.0	NA	21.0 - 35.0	NA
Citi Bank	15.0 - 16.5	16.5 - 18.0	20.0 - 22.0	NA	14.5 - 19.0	19.0 - 24.0
Corporation Bank	14.5	14.5	14.5	NA	12.0	NA
Dena Bank	15.0	15.0	15.0	NA	15.0	NA
Deutsche Bank	15.0 - 16.0	16.5 - 17.5	18.0 - 20.0	20.0 - 22.0	15.0 - 16.0	19.0 - 21.0
Federal Bank	16.25	16.25	16.25	NA	16.25	NA
HDFC Bank	16.0 - 16.5	16.0 - 16.5	16.0 - 16.5	NA	16.0 - 16.5	NA
ICICI Bank	12.0 - 16.0	16.0 - 18.0	20.0 - 22.0	20.0 - 24.0	14.0 - 19.0	19.0 - 24.0
IDBI Bank	16.4 - 18.4	17.4 - 19.4	20.4	NA	16.4 - 19.4	19.4 - 22.4
Indian Bank	14.5	14.5	14.5	NA	14.5	NA
Indian Overseas Bank	13.25	13.25	13.25	NA	13.25	NA
J&K Bank	16.0	16.0	16.0	NA	16.0	NA
Karnataka Bank	13.25 - 14.25	13.25 - 14.25	13.25 - 14.25	NA	13.25 - 14.25	NA
Oriental Bank of Commerce	13.0	13.0	13.0	NA	13.0	NA
Punjab National Bank	14.0 - 15.0	14.0 - 15.0	14.0 - 15.0	NA	14.0 - 15.0	NA
Reliance Consumer Finance	16.0 - 23.0	16.0 - 23.0	16.0 - 23.0	NA	16.0 - 19.0	19.0 - 23.0
Saraswat Bank	15.0	15.0	15.0	15.0	15.0	15.0
SBI	16.5	16.5	16.5	NA	16.5	NA
State Bank of Bikaner& Jaipur	13.75 - 14.75	13.75 - 14.75	13.75 - 14.75	NA	13.75 - 14.75	NA
State Bank of Hyderabad	14.5 - 15.5	14.5 - 15.5	14.5 - 15.5	NA	14.5 - 15.5	NA
State Bank of Mysore	14.75 - 15.25	14.75 - 15.25	14.75 - 15.25	NA	14.75 - 15.25	NA
State Bank of Patiala	14.5 - 15.0	14.5 - 15.0	14.5 - 15.0	NA	14.5 - 15.0	NA
State Bank of Travancore	15.75	15.75	15.75	NA	15.75	NA
Syndicate Bank	13.75	13.75	13.75	NA	13.75	NA
Tamilnad Mercantile Bank Ltd	17.75	17.75	17.75	NA	17.75	NA
The Ratnakar Bank	16.0	16.0	16.0	NA	16.0	NA
UCO Bank	13.5	13.5	13.5	NA	13.5	NA
Union Bank of India	15.0	15.0	15.0	NA	15.0	15.0
Vijaya Bank	13.75	13.75	13.75	NA	13.75	NA

Interest rates for personal loans given above are indicative in nature. It is based on periodic market research conducted by Apnaloan Research Bureau. To enable the comparisons certain set of data has been reorganized / restructured / tabulated. This information is made available for users to get an idea of the personal loan interest rates in the market place, helping them to strike a better personal loan deal by providing critical information, and getting banks to compete for their business. The actual rates at which an individual will be able to get a personal loan will vary widely, depending on the individual's financial profile and negotiating ability, among other factors. Apnaloan.com does not take any responsibility for any sudden, uninformed changes in actual interest rates.