Lowest Interest Personal Loan @ 10.49% @ Banks & NBFCs

Compare the lowest interest rates for personal loans in India, starting at 10.49%*, from top banks and NBFCs. Get quick approval, flexible tenures & affordable EMIs!

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Key Takeaways ✦

Compare Lowest Personal Loan Interest Rates of All Banks & NBFCs

A personal loan with the lowest interest rate reduces your borrowing cost by a significant margin as it reduces the interest amount you have paid. It is ideal for borrowers with a strong credit score, good income flow and a good repayment history.

Comparison of Personal Loan Interest rates of Banks & NBFCs

Comparison of Personal Loan Interest Rates of Banks (2025)

Bank	Interest Rate	Loan Amount	Processing Fee	Processing Time	Apply
DBS Bank	10.99% – 30.00%	₹25,000 to ₹15 Lakhs	1%–3% + GST	24–48 hrs	Apply
HDFC Bank	10.90% – 24.00%	₹50,000 to ₹40 Lakhs	Up to ₹6,500 + GST (~1–3%)	24–48 hrs	Apply
Axis Bank	From ~11.25%	₹50,000 to ₹15 Lakhs	1.5%–2% + GST	24–72 hrs	Apply
ICICI Bank	10.80% – 16.65%	Up to ₹50 Lakhs	0.5%–2% + GST	24–48 hrs	Apply
Bank of Baroda	10.49% – 18.75%	₹30,000 to ₹20 Lakhs	Up to 2% + GST	48–72 hrs	Apply
SBI	10.30% – 15.30%	₹10,000 to ₹35 Lakhs	Up to 1.5% + GST	2–3 working days	Apply
IndusInd Bank	From 10.49%	₹30,000 to ₹50 Lakhs	Up to 3.5% (2% online) + GST	24–48 hrs	Apply
Yes Bank	10.99% – 21%	₹100,000 to ₹40 Lakhs	Up to 2.5% + GST	24–48 hrs	Apply
Standard Chartered	11.49% – 17%	₹1 Lakh to ₹50 Lakhs	Up to 2.25% + GST	48–72 hrs	Apply
IDFC FIRST Bank	9.99% – ~10.75%	₹1 Lakh to ₹50 Lakhs	Up to 3.5% + GST	24–48 hrs	Apply
Kotak Mahindra Bank	From 10.99%	₹50,000 to ₹40 Lakhs	1%–2.5% + GST	24–48 hrs	Apply
Punjab National Bank	11.50% – 17.05%	Up to ₹20 Lakhs	Up to 1% + GST	2–3 days	Apply
Bandhan Bank	10.50% – 12.55%	₹50,000 to ₹25 Lakhs	Up to 3% + GST	48–72 hrs	Apply

Comparison of Personal Loan Interest Rates of NBFCs (2025)

NBFC	Interest Rate	Loan Amount	Processing Fee	Processing Time	Apply
Piramal Finance	From 12.99%	Up to ₹35 Lakhs	2%–3% + GST	24–72 hrs	Apply
Shriram Finance	From 14%	Up to ₹35 Lakhs	Up to 3% + GST	2–3 days	Apply
Tata Capital	From 10.99%	Up to ₹35 Lakhs	Up to 2.5% + GST	24–48 hrs	Apply
InCred	From 18%	Up to ₹10 Lakhs	2%–4% + GST	Instant to 24 hrs	Apply
Finnable	From 16%	Up to ₹10 Lakhs	Up to 3% + GST	24–48 hrs	Apply
Poonawalla Fincorp	From 9.99%	Up to ₹30 Lakhs	1%–2% + GST	24–72 hrs	Apply
Fullerton India	From 11.99%	Up to ₹25 Lakhs	Up to 3% + GST	1–2 working days	Apply
Axis Finance	From 13%	Up to ₹25 Lakhs	Up to 2.5% + GST	1–2 days	Apply
Mahindra Finance	From 10.99%	Up to ₹10 Lakhs	Up to 3% + GST	2–3 days	Apply
Aditya Birla Finance	From 11.99%	Up to ₹50 Lakhs	Up to 2.5% + GST	48–72 hrs	Apply
Bajaj Finance	From 11%	Up to ₹50 Lakhs	Up to 4% + GST	24–72 hrs	Apply

Lowest Interest rate Personal Loan Eligibility

Criteria	Details
Employment Type	Salaried Individuals
Age	21 to 65 years
Nationality	Indian
Minimum Income	From ₹20,000
Employment Status	Minimum 1 year of experience, with at least 1 year in current organization
Credit Score	750+ (may vary according to the lender)

Documents Required for Lowest Personal Loan

Document Type	Examples
Proof of Identity	Aadhar Card, PAN Card, Passport, Voter ID, Driving License
Proof of Address	Utility Bills, Passport, Aadhar Card
Proof of Income	Last 3 months salary slip, Last 6 months bank statement, Form 16
Employment Proof	Employment Certificate
Photographs	Passport Sized Photos

Why Compare Personal Loans with low interest rates?

With multiple lenders offering competitive interest rates, it’s essential to compare multiple banks and NBFCs. Comparing personal loans allows you to:

Save on Interest Costs: Save on interest charges. A Higher interest rate entails higher interest charge amount.
Customize Loan Tenure: Choose a loan which balances the EMI affordability and an interest rate that is affordable
Understand Additional Costs: Analyze all the costs associated with the loan such as interest rate, processing fees, and other charges

Factors That Affect Personal Loan Interest Rates

Credit Score: A credit score above 750 is required in order to process the loan
Income Level: A person with a stable and secured employment with monthly income flow
Employment Stability: Borrower must have employment stability. Meaning it means they should have an employment continuity for 1 year in current organization atleast
Loan Amount and Tenure: Larger loan amounts or shorter tenures attracts lower interest rates
Lender Relationship: Customers with existing relationship with the bank would get interest at favourable terms

How to Get a Personal Loan at the Lowest Interest Rate

Maintain a High Credit Score: Ensure your credit score does not drop below 750.
Compare Lenders: Use our site to compare loans across various banks and NBFCs
Choose the Right Tenure: Ensure you choose the right tenure so that your monthly EMIs does not occupy a significant portion of your monthly budget
Negotiate with the Lender: Negotiate with the lender if you have an existing relationship with the bank
Apply with Pre-Approved Offers: Many banks offer pre-existing personal loans to their customers based on their relationship.

Key Features to Consider while availing Personal Loan with low interest

Interest Rates: Look for lenders that offer personal loan with lowest interest rates
Loan Amounts: Choose personal loans that offer flexibility in loan disbursements
Repayment Flexibility: Go for loans that offer repayment flexibility
Eligibility Criteria: Check your monthly income, repaying capability, and credit score

Steps to Compare Personal Loans Interest rate

Check Online Loan Aggregators: Use a platform like Fincover to compare loan quotes from multiple lenders
Calculate EMIs Using Loan Calculators: Use the EMI calculator. Adjust the terms to calculate EMIs for valuable terms
Total cost of the loan: Factor in additional charges like processing charges, fees, and other charges to calculate the total cost of the loan
Evaluate Customer Reviews: Ensure complete transparency of the lender by reading the customer reviews of various lenders

Top Tips for Securing the Lowest Interest Rate

Improve Your Credit Score: A credit score of above 750 plus is required to improve your credit score
Choose Shorter Tenures: A Longer tenure would mean the total cost of the loan is high. Opt for loan with shorter tenure
Maintain a Stable Income: Ensure you carry a stable and regular income to ensure that you are in a better position to negotiate with the lenders
Negotiate with Lenders: If you have a good credit history and a good credit score, you are in a better position to bargain with the lenders

Example of Loan Interest rate Comparison

For a ₹10,00,000 loan with a tenure of 5 years:

Lender X: Interest rate at 10.5%, EMI ₹21493.90, total repayment ₹12.90 Lakh.
Lender Y: Interest rate at 12.5%, EMI ₹₹22497.94, total repayment ₹13.50 Lakh

Choosing Lender X saves ₹60000 over 5 years.

FAQ on Personal Loan with Low interest rate

1. Which lender offers the lowest personal loan interest rate?

Different banks offer different interest rates based on the repaying ability of the borrowers

2. How does my credit score affect personal loan interest rates?

Banks expect a credit score of 750+ in order to get the personal loan at lowest interest rates

3. Can I negotiate the interest rate with the lender?

Yes, if you have a good credit score, stable income, and a strong relationship with the lender, you can negotiate for lower rates.

4. Are there any additional charges apart from the interest rate?

Banks charge processing fees in addition to the loan which depends on the loan size (1% -2%)

5. How can I reduce the EMI for my personal loan?

Choose a longer tenure or secure a loan at a lower interest rate to reduce your EMI amount.

📌 Disclaimers

Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.

Who is the Author?

Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.

How is the Content Written?

The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.

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This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.

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