Personal Loan

A wedding in the family. May be your house needs renovation or your daughter has obtained admission to a medical college. Gift your wife a beautiful gold pendant, pay for your children's higher education or send your parents on a much-needed holiday. We offer various kinds of Personal Loans to fulfill your dreams in India.

Interest Rates for Personal Loans

( Last edited on : 03 July 2009 )

Personal loan rates in India depend on various criteria, one being the income level. Different banks have different classifications based on which interest rates are calculated. To start with whether you are working for an employer (salaried) or you are an employer yourself (self – employed). Other factors on which interest rates depend are as follows : -
• Loan Amount.
• Category in which the employer lies.
• Income level.
• Credit and Payment history.
• Relationship with the Bank you intend to take loan from.
• Individual’s Negotiating Ability.

To help its customers get the best interest rates on personal loans deal4loans has consolidated all the information regarding latest rate of interests at one place. Please keep visiting this section to get updated rates of interests on personal loans.

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Banks/Rates	Salaried
	CAT A	CAT B	Others	Pre-Payment Charges	Processing Fees
AbnAmro Bank	16%-23%	16%-23%	16%-23%	4%-5%	2.25%
Axis Bank	14%-21%	14%-21%	14%-21%	-	2%
Bank of Baroda	14.50%	14.50%	14.50%	2%	-
Barclays Finance	21%-33%	21%-33%	21%-33%	5%	2%
Canara Bank	13%	13%	13%	-	0.50%
Citibank	16.5%-18%	18%-20%	19%-21%	5%	2%
Citifinancial	16% - 18%	18% - 20%	19%-21%	4%	2%
Corporation Bank	14.50%	14.50%	14.50%	-	1.50% or Rs.500 whichever is higher
HDFC Bank	15.5% (for 35,000 & above salary) 16.5% (upto 35,000 salary)	18% (for 35,000 & above salary) 19% (upto 35,000 salary)	21%(for 35,000 & above salary) 24% (upto 35,000 salary)	4%	0.5%(if salaried account in HDFC) if not than 2%
Oriental Bank of Commerce	13%	13%	13%	-	0.50%
Reliance	23%	23%	23%	5%	2%
SBI	16.50%	16.50%	16.50%	-	2%-3%

Where
CAT A refers to	- Top 1000 companies
CAT B refers to	- Multi National Companies( MNC's )
CAT C refers to	- Small companies
Non Listed refers to	- Smaller companies with 100 emloyees.
Loan Surrogates refers to	- Any running loan from any bank

Disclaimer: Please note that the interest rates given here are based on the market research. To enable the comparisons certain set of data has been reorganized / restructured / tabulated .Users are advised to recheck the same with the individual companies / organizations. This site does not take any responsibility for any sudden / uninformed changes in interest rates.

Banks/ Financial Institutions can contact us at customercare@deal4loans.com for inclusions or updates.