Lowest Personal Loan rates · November 2026
The lowest personal loan rates published by India's banks, ranked. Read from each bank's own page.
- Every rate from the bank's own page, with a link to it
- No referral fees, no ads, no “apply now”
- Checked 15 Nov 2026
- 7 banks read so far
For the bank's best-placed borrowers. Its rates go up to 15.00%.
Every 0.25% on the rate adds about ₹62 a month, or ₹3,697 over the loan. Worth asking your bank for.
Banks ranked by rate
Lowest published rate first. The monthly figure is the EMI on ₹5 lakh over 5 years at that rate, before charges.
| # | Bank | Rate | Effective on | Source |
|---|---|---|---|---|
| 1 | State Bank of India Public |
10.00% to 15.00% ≈ ₹10,624/mo |
15 Dec 2025 | official ✓ checked 15 Nov 2026 |
| 2 | Bank of Maharashtra Public |
10.00% to 15.25% ≈ ₹10,624/mo |
Not stated | official ✓ checked 15 Nov 2026 |
| 3 | Bank of Baroda Public |
10.40% to 18.05% ≈ ₹10,722/mo |
Not stated | official ✓ checked 15 Nov 2026 |
| 4 | Punjab National Bank Public |
10.50% to 16.05% ≈ ₹10,747/mo |
Not stated | official ✓ checked 15 Nov 2026 |
| 5 | Indian Bank Public |
11.30% to 11.30% ≈ ₹10,946/mo |
Not stated | official ✓ checked 15 Nov 2026 |
| 6 | Central Bank of India Public |
11.50% to 12.00% ≈ ₹10,996/mo |
Not stated | official ✓ checked 15 Nov 2026 |
| 7 | 14.00% to 14.00% ≈ ₹11,634/mo |
Not stated | official ✓ checked 15 Nov 2026 |
7 banks so far. We add a bank once we can read its personal loan rates from its own page every day, and we never fill a gap with a rate we can't trace. Missing your bank? Tell us.
Questions borrowers ask
Why is my personal loan rate higher than the rate shown?
The rate shown is the lowest the bank publishes, which goes to its best-placed borrowers. Banks set your rate from your credit score, income, employment, the loan amount and the asset. The bank's own page, linked on every row, lists its bands.
Is the lowest rate always the cheapest loan?
Not always. Processing fees, insurance the bank asks for, and prepayment charges add to the cost. On a floating loan, how quickly the bank passes on cuts in the repo rate matters too. Open a bank's page here to see the charges it publishes.
Does RateScan get paid by these banks?
No. We take no referral fees and show no ads, and we don't take loan applications. The order is the order of the published rates.
How we collect loan rates
From the bank's own pages. Every figure is read from the lending-rate page the bank publishes, and links back to it. Benchmarks are re-read every day.
A published rate is not an offer. Banks set your rate from your credit score, income, the loan amount and the property or vehicle. We show the range the bank publishes; "7.60% onwards" means the bank gave no top figure.
Benchmark plus spread. A floating loan's rate is the bank's benchmark (its repo-linked rate, or MCLR for older loans) plus a spread fixed when you borrow. When the benchmark moves, your rate moves with it at the next reset.
The EMI is worked out on a reducing balance with monthly instalments: EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where r is the yearly rate ÷ 12 and n the number of months. It leaves out processing charges and insurance.
No referral fees. We don't take loan applications or get paid by lenders, so the order is the order.
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