HDFC Bank, Tata, SBI, and others: Personal loans with lowest interest rates

Personal loans offer a versatile financial solution that can cater to your needs, from consolidating high-interest debt to financing home improvements or even covering unexpected expenses. With generally lower interest rates compared to credit cards, they present an attractive option for many.

PaisaBazaar has compiled a list of the most popular personal loan plans in India for 2024:
For HDFC Bank, the interest rate starts from 10.50% per annum. For a loan amount of Rs 5 lakh over a tenure of 5 years, the EMI starts from Rs 10,747, and for Rs 1 lakh, it starts from Rs 2,149. The processing fee can go up to Rs 4,999.

Tata Capital's interest rates begin at 10.99% per annum. The EMI for a Rs 5 lakh loan for 5 years starts from Rs 10,869, and for Rs 1 lakh, it starts from Rs 2,174. The processing fee can reach up to 5.5% of the loan amount.

State Bank of India offers interest rates ranging from 11.15% to 15.30% per annum. The EMI for a Rs 5 lakh loan ranges from Rs 10,909 to Rs 11,974, and for Rs 1 lakh, it ranges from Rs 2,182 to Rs 2,395. The processing fee varies between 1.5%, with a minimum of Rs 1,000 and a maximum of Rs 15,000.

ICICI Bank's interest rates start from 10.65% per annum. For a loan amount of Rs 5 lakh over 5 years, the EMI starts from Rs 10,784, and for Rs 1 lakh, it starts from Rs 2,157. The processing fee can go up to 2.50% of the loan amount.

Bank of Baroda's interest rates vary between 11.05% and 18.75% per annum. The EMI for a Rs 5 lakh loan ranges from Rs 10,884 to Rs 12,902, and for Rs 1 lakh, from Rs 2,177 to Rs 2,580. The processing fee goes up to 2%, with a minimum of Rs 1,000 and a maximum of Rs 10,000.