The interest rates for personal loans from top private sector lenders usually begin at 10.49% per annum. However, personal loan interest rates vary on factors like credit score, monthly income, employment, etc. Interest rates vary across lenders, so loan applicants should shop around and compare the interest rates offered by as many lenders as possible before zeroing in on a lender. 

Best Lowest Interest Rate Personal Loans in India 

Financial institution

Rate of interest (p.a.)

Loan Amount in INR 

Central Bank of India 

Begins from 8.45% onwards 

Upto INR 20 lakhs 

UCO Bank

Begins from 8.45% onwards

Upto INR 10 lakhs 

Union Bank of India

Begins from 8.90% onwards

Up to INR 15 lakhs

Punjab National Bank 

Begins from 8.95% onwards

INR 25,000 to INR 15 lakhs

Indian Bank 

Begins from 9.05% onwards

According to the applicant’s profile 

Bank of India 

Begins from 9.35% onwards

Up to INR 10 lakhs

IDBI Bank

Begins from 9.50% onwards

INR 25,000 to INR 5 lakhs

Bank of Maharashtra

Begins from 9.55% onwards

Up to INR 20 lakhs

State Bank of India 

Begins from 9.60% onwards

Up to INR 20 lakhs

HSBC 

Begins from 9.75% onwards

Up to INR 30 lakhs