Top 10 Banks Offering Cheap Interest Rates On Personal Loans

Personal loans are used by individuals to get out of financial troubles or fulfill one of their long-held dreams. These loans have a higher rate of interest than others as they are often given without collateral up to a certain amount. Several banks are offering attractive interest rates on personal loans.

A personal loan can be availed from financial institutions like banks or non-banking financial companies (NBFCs). Personal loans are versatile and can be used for various purposes such as funding a wedding, medical expenses, home renovation, debt consolidation, travel, or any other personal financial requirement.

Take a look at some of these lenders offering low-interest rates.

Bank Of Maharashtra

Customers can get up to Rs 20 lakh as personal loan from the Bank Of Maharashtra. The interest rate starts at 10 percent and the maximum tenure is 84 months.

Bank Of India

The bank is offering interest rates starting from 10.25 percent. Borrowers can opt for up to Rs 20 lakh and the maximum repayment tenure is 84 months.

IndusInd Bank

Customers can opt for loans ranging from Rs 30,000 to Rs 50 lakh. The interest rate varies between 10.25 and 27 percent. The tenure of the loan can be between 1 and 6 years.

Punjab National Bank

PNB provides borrowers with interest rates between 10.4 and 16.95 percent on personal loans of up to Rs 10 lakh. The repayment tenure is 60 months.

Axis Bank

Axis Bank offers personal loans between Rs 50,000 and Rs lakh. The interest rate starts at 10.49 percent and the tenure can go up to 60 months.

IDFC First Bank

With interest rates starting from 10.49 percent, IDFC Bank offers customers a range of competitive interest rates. Borrowers can avail up to Rs 1 crore with the repayment tenure ranging from 6 months to 5 years.

HDFC Bank

Borrowers can get personal loans with interest between 10.5 and 24 percent. The tenure can go up to 5 years, while the maximum amount that can be availed under the loan is Rs 40 lakh.

Karur Vysya Bank

The lender offers up to Rs 10 lakh in personal loans. The interest rate offered by Karur Vysya Bank ranges from 10.5 to 13.5 percent.

IDBI Bank

IDBI Bank gives customers up to Rs 50 lakh in personal loans. The amount can be repaid in 60 months at an interest rate ranging from 10.5 to 15.5 percent.

ICICI Bank

The lender offers personal loans up to Rs 50 lakh with interest rates ranging from 10.75 to 19 percent. The maximum repayment tenure is 6 years.