The most important factor that determines how to choose a personal loan is the interest rate offered. Hence, the first step to take before choosing a personal loan is to compare the interest rates offered by various banks for personal loans. Other factors that should be taken into account before choosing the best bank for personal loans are 

Other fees and charges like processing fees, late fees, etc.

Interest Rates of Top Banks For Personal Loans - A Comparison

Bank 

Minimum Interest Rate on personal loans (%)

Axis Bank 

10.65% 

Bank of Baroda

13.15%

HDFC Bank

10.5%

ICICI Bank 

10.65% 

IndusInd Bank

10.49%

Karur Vysya Bank

13%

Kotak Mahindra Bank

10.99%

Punjab National Bank

13.75%

State Bank of India 

12.30%

Yes Bank 

10.49%

 

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