Want to know which of the best banks in India is best for taking a personal loan? Here, we will cover personal loans from top banks like SBI, ICICI, HDFC, IndusInd, and Axis, along with details about them.
Which bank will be the best for a personal loan for you will depend on a variety of factors like -
Your income and employment status
Your credit score and history
The interest rate and repayment tenure offered by the bank
All these will vary from person to person, and thus the best bank for you might not be the same as your friend's. Let’s look at the banks one by one so you can check if it is a good fit for you.
|
Bank |
Interest Rate |
Amount Offered |
Repayment Term |
|---|---|---|---|
|
State Bank of India |
10% to 15% p.a. |
Up to ₹50 Lakh |
6 - 84 months |
|
ICICI Bank |
9.99% to 16.50% |
Up to ₹50 Lakh |
Up to 72 months |
|
HDFC Bank |
9.99% to 24% |
₹25,000 to ₹50 Lakh |
12 - 60 months |
|
IndusInd Bank |
10.49% p.a. onwards |
Up to ₹5 Lakh |
Up to 48 months |
|
Axis Bank |
8.75% to 21.55% |
₹50,000 to ₹40 Lakh |
12 - 60 months |
Note: The interest rates, amounts offered, and the repayment terms were verified on 7 September 2026 from the respective bank websites. Please note that the above information is subject to change at the bank’s discretion.
While most banks provide personal loans loaded with unique features and benefits, those with low credit scores may not be able to avail them. Usually, banks look for credit scores above 700, and the higher the score, the lower the interest rate.
However, if you have an existing relationship with the bank, then you may be able to avail a loan from any of the above options even with a low credit score.
A better option in this circumstance would be to avail loans through other options such as peer-to-peer lending, secured loans, through NBFCs, or private lenders such as Moneyview.
Your monthly EMI is
per month for 5 months
Total Interest
₹20,089
Total Amount
₹1,020,089
Loan Amount
Min ₹5,000
Max ₹10,000,000
Rate of Interest
Min 6%
Max 26%
Loan Tenure
5
months
Min 3 months
Max 72 months
One of the most trusted banks in the country, State Bank of India, or SBI, offers different categories of personal loans to cater to various requirements. You can also avail of pre-approved personal loans in only 4 clicks.
SBI offers affordable loans for people of all financial backgrounds. Here are the details of the personal loans offered by SBI -
Maximum Loan Amount: ₹50 Lakh
Maximum Tenure: 84 months
Rate of Interest: 10% to 15% p.a.
Processing Fee: 1.50% of the Loan Amount (subject to minimum ₹1,000 and maximum ₹15,000) plus GST
Pre-payment charges: 2% on prepaid amount
One of the most reputed banks in the country, ICICI offers specific personal loans that could meet expenses towards a wedding, travel, etc. Upon completion of online verification and approval, you can easily get your loan disbursed.
ICICI Bank is one of the top private banks in India in 2026, and here are the details of the personal loans they provide -
Maximum Loan Amount: ₹50 Lakh
Maximum Tenure: 72 months
Rate of Interest: 9.99% to 16.50%
Processing Fee: Up to 2% of the loan amount + GST
Pre-payment charges: 3% on the outstanding principal amount, and NIL after 24 EMIs are paid
Yes, if you meet the eligibility criteria, you can easily get a loan from HDFC Bank.
Easy eligibility norms make HDFC Bank personal loans one of the best in the country. Loan applicants are also eligible for insurance covers like Personal Accident Cover and Accidental Hospitalisation Cover, among others, against the payment of a small premium.
Read on to know the features of HDFC Bank personal loans -
Maximum Loan Amount: ₹50 Lakh
Maximum Tenure: 60 months
Rate of Interest: 9.99% to 24%
Processing Fee: Up to ₹6,500 + GST
Pre-payment charges: For full payment -
4% of the principal outstanding amount if up to 24 EMIs have been paid
3% of the principal outstanding amount if 24 to 36 EMIs have been paid
2% of the outstanding amount if more than 36 EMIs have been paid
In just four steps, borrowers can avail affordable Easy Credit Personal Loans from IndusInd Bank. Unique features and minimal documentation are just two of the reasons why these personal loans are so popular.
Here are the most important features of IndusInd Bank personal loans -
Maximum Loan Amount: ₹5 Lakh
Maximum Tenure: 48 months
Rate of Interest: 10.49% p.a. onwards
Processing Fee: Up to 3.5% of loan amount + GST
Pre-payment charges:
5% of the principal outstanding amount + GST after 1 EMI paid, up to 11th EMI.
4% of the principal outstanding amount + GST, after paying 12 EMIs.
If you are looking for a versatile personal loan loaded with advantageous features and benefits such as minimal documentation and quick disbursal, then Axis Bank personal loans are the perfect choice for you.
Additionally, you can transfer your existing high-interest personal loans to Axis Bank as well while enjoying eDGE loyalty reward points on your transactions.
The following are the features of personal loans from Axis Bank -
Maximum Loan Amount: ₹40 Lakh
Maximum Tenure: 60 months
Processing Fee: 2% of the loan amount + GST
Rate of Interest: 8.75% to 21.55%
Pre-payment charges:
3% of the principal outstanding amount, up to 36 EMIs paid.
2% of the principal outstanding amount, after paying 36 EMIs.
There are a number of banks providing personal loans in India, but which one is the best?
That will entirely depend on your eligibility, income, the amount you require, as well as the reason for the loan. SBI, ICICI Bank, HDFC Bank, Axis Bank, and IndusInd Bank are reputed banks that provide affordable personal loans.
However, if you are looking for other options, then why not consider Moneyview? Visit the Moneyview website or download the app and apply now.
Which bank is the best for you will depend on your personal profile, your salary, employment status, location, and other factors. The bank that might be the best for you might not be so for your friend. Thus, this is a very personal choice.
700 is considered a fair or good CIBIL score for a personal loan or any other loan product.
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Disclaimer
The starting interest rate depends on factors such as credit history, financial obligations, specific lender's criteria and Terms and conditions. Moneyview is a digital lending platform; all loans are evaluated and disbursed by our lending partners, who are registered as Non-Banking Financial Companies or Banks with the Reserve Bank of India.
This article is for informational purposes only and does not constitute financial or legal advice. Always consult with your financial advisor for specific guidance.
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