Top 10 bank loans with low interest

Lowest interest rates charges by banks on their personal loans:

ICICI Bank: The second largest private lender charges 10.65 percent to 16 percent per annum on its personal loans while, its processing charges are up to 2.50 percent plus applicable taxes.

HDFC Bank: HDFC Bank, the largest private bank, charges 10.5 to 24 percent as interest rate while the processing charges are ₹4,999.

SBI: The State Bank of India (SBI) charges 12.30 to 14.30 percent for corporate applicants while the employees are CLSEs and government departments are given at 11.30 to 13.80 percent per annum. The defence employees are offered personal loans at concessional rates of 11.15 to 12.65 percent per annum.

Bank of Baroda: Private sector employees (with relationship with the bank) are offered personal loans at 13.15 to 16.75 percent per annum whereas government employees are given loans at concessional rate of 12.40 to 16.75 percent per annum.

On the other hand, private sector employees with no relationship with the bank are given loan at 15.15 to 18.75 percent per annum.

Punjab National Bank: PNB charges interest rate that varies between 13.75 to 17.25 percent per annum depending on the borrower’s credit score.At the same time, government employees are offered concessional rate of interest which varies between 12.75 percent to 15.25 percent.

Kotak Mahindra Bank: The private lender charges a minimum of 10.99 percent per annum on its personal loans. The loan processing charges can be, however, as high as up to 3 percent of loan amount plus taxes.

Axis Bank: Axis Bank charges an interest rate that varies anywhere between 10.65 percent to 22 percent per annum on its personal loans.