Personal loans interest rates in Nov 2025: These are the latest rates which lenders charge

Before you raise a loan, it is recommended to compare the interest rates charged by different lenders. You never know that a small difference of 1 percent could lead to a lot of savings.

Here we list out the interest rates charged by different banks on personal loans.

Notably, personal loans – being unsecured – charge a higher rate of interest. Typically, banks charge anywhere between 12-18 percent on personal loans based on credit score of borrower. No prizes for guessing that borrowers with a higher credit score can raise a loan at a lower rate of interest vis-a-vis someone with a low credit score.

Let us list out the interest rates charged by different banks

Personal loan interest rates charged by the top 8 banks

I. HDFC Bank: HDFC Bank charges interest in the range of 9.99 percent to 24 percent a year. The processing charges, meanwhile, stand at ₹6,500 before GST.

II. ICICI Bank: The second largest private bank charges interest between 10.45 to 16.50 percent per annum. And the processing fee could be as high as 2% of the loan amount plus GST.

III. Kotak Mahindra Bank: This private bank charges an interest rate starting at 9.98 percent a year. The processing fee, meanwhile, could be as high as 5 percent of the loan amount (before tax). This fee is deducted at the time of loan disbursal. Check the bank's website for details.

IV. Federal Bank: This private lender charges interest in the range of 11.99 to 18.99 percent per annum. The processing fee is up to 3 percent a year.

V. State Bank of India (SBI): The largest bank in the country charges interest in the range of 10.05 to 15.05 percent a year on its personal loans. The processing fee is between ₹1,000 to ₹15,000 before tax.

VI. Canara Bank: This state lender charges anywhere between 14.50 to 16 percent a year (fixed rate) on personal loans. Also, it charges between 13.75 to 15.25 per cent a year when it is linked to RLLR - repo-linked lending rate.

VII. BOB: Bank of Baroda charges interest in the range of 10.4 percent to 15.75 percent based on the category (government or private sector) and credit score.

VIII. Union Bank of India: The interest on personal loans charged by Union Bank of India ranges between 10.75 to 14.45 percent a year.

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