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Personal loans are popular as they are a great way to address your sudden financial requirements. Being unsecured, you do not have to pledge a security to fetch a loan. Your loan eligibility depends on your income, repaying capacity, credit score etc. When you decide to take a personal loan, it would be a smart idea to compare personal loans from various lenders on factors such as interest rates, processing fees, other charges to grab the best deal
If you are planning to take a personal loan from the top 10 government banks (as per asset size), here is the list of interest rates they are offering.
| Interest Rates on Personal Loan
(For Top 10 PSU Banks By Asset Size) EMI on Loan Up to Rs. 100000 for 3 year Tenure |
||
| Lender’s Name | Interest Rate (% Pa) | EMI (In Rs) |
| Union Bank | 8.90% – 12.00% | ₹ 3175 – ₹ 3321 |
| Punjab National Bank | 8.95% – 11.80% | ₹ 3178 – ₹ 3312 |
| Indian Bank | 9.20% – 9.80% | ₹ 3189 – ₹ 3217 |
| State Bank of India | 9.60% – 13.85% | ₹ 3208 – ₹ 3410 |
| Central Bank of India | 9.85% – 10.05% | ₹ 3220 – ₹ 3229 |
| UCO Bank | 10.05% – 10.30% | ₹ 3229 – ₹ 3241 |
| Bank of Baroda | 10.25% – 15.60% | ₹ 3238 – ₹ 3496 |
| Canara Bank | 11.25% – 13.90% | ₹ 3286 – ₹ 3413 |
| Indian Overseas Bank | 11.30% – 12.05% | ₹ 3288 – ₹ 3324 |
| Bank of India | 11.35% – 12.35% | ₹ 3290 – ₹ 3386 |
Data Compiled by BankBazaar.com from respective bank’s website as on 8 Oct 2020. The EMI range is indicative and not exhaustive. In actual situation it may include other fees and charges as per bank’s t&c. The interest rate are based as per salaried individual for regular personal loan products offered by PSU Banks. Banks are listed in ascending order on the basis of interest rate i.e. bank having lowest starting interest range is placed at top and highest at the bottom. Bank’s are selected on the basis of their asset size as per latest available information and its accuracy is not warranted. Banks for which data is not available or partially available on their website are excluded from the list.
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