Agents Login    About Us   Blogs   Loans in India   Media Coverage   Contact Us   Insurance Deals
Home > Personal Loan > Personal Loan Interest Rates

Personal Loan Interest Rates
(Last edited on : 23 September 2014)

 
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).

Interest Rates of personal loans for September Month:
• ING Vysya Special Schemes at 13.50% to 18.25%
• HDFC Bank offers Special Rates of 13.99% to 20.00
• Kotak Mahindra Offers Loans at 13.60% to 18%
• ICICI Bank Personal loans offered at 13.49% to 17.50%
Festive Offer : Get gifts upto Rs 17200 on disbursal.
Refer to T & C - www.deal4loans.com/personal-loan-offers.php

Get Exact Quote on Personal Loan Interest Rates From all Banks

Professional Details
Loan Amount:
Occupation:
Annual Income:
City:

Read below how these factors effect your Interest rates **
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.
* Never pay any fee/cash upfront to any person to get loan sanctioned. Processing fee are deducted from Loan amount.

Banks/Rates Salaried
CAT A CAT B Others Pre Payment Charges Processing Fees
ICICI Bank 13.49% - 14%
(For Special Companies)
15.50%
(Salary Above 75,000)
16%
(Salary 50,000 -75,000)
16.50%
(Salary 35,000 -50,000)
17%
(Salary 20,000 -35,000)
17%
(Less Than 20,000)
16%
(Salary Above 75,000)
16.50%
(Salary 50,000 -75,000)
17%
(Salary 35,000 -50,000)
17.50%
(Salary 20,000 -35,000)
17.50%
(Less Than 20,000)
16%
(Salary Above 75,000)
16.50%
(Salary 50,000 -75,000)
17%
(Salary 35,000 - 50,000)
17.50%
(Salary 20,000 -35,000)
17.50%
(Less Than 20,000)
Nil (For Loan amount >10 lacs & 12 EMI paid), else 5% 0.50% for special companies else 1.50% - 2.25%
HDFC Bank 13.99% - 14.75%
(For Special Companies)
15.75%
(for 75,000 & above salary)
16.25%
(for 50,000-75,000 salary)
17%
(for 35,000-50,000 salary)
18.25%
(below 35,000 salary)
11.99% - 13.75%
(Special Rates for Loan Amount b/w 10lacs - 20lacs)
15.75%
(for 75,000 & above salary)
16.25%
(for 50,000-75,000 salary)
17%
(for 35,000-50,000 salary)
18.25%
(below 35,000 salary)
11.99% - 13.75%
(Special Rates for Loan Amount b/w 10lacs - 20lacs)
20% Nil (For Loan Amount > 10lakhs with >Salary 75k) else 4% 0.8% - 1.75% (for Special Companies)
2% (HDFC
Bajaj Finserv 15% - 16% 16% 16.50% - 17% Nil Prepayment Upto 2%
ING Vysya 13.75%
(for 1.5lac & above salary)
13.75%
(for 1,00,000 - 1.49lac salary)
13.99%
(for 65,000 - 1,00,000 salary)
15.25%
(for 40,001 - 64,999 salary)
17.25%
(for 25,000 - 40,000 salary

0.5% Waiver for Ing Salary Account Holder)
13.75%
(for 1.5lac & above salary)
13.75%
(for 1,00,000 - 1.49lac salary)
14.25%
(for 65,000 - 1,00,000 salary)
16.25%
(for 40,000 - 64,999 salary)
17.25%
(for 25,000 - 40,000 salary

0.5% Waiver for Ing Salary Account Holder)
14.99%
(for 75,000 & above salary)
16.75%
(for 40,000 - 75,000 salary)
18.25%
(for 25,000 - 40,000 salary

0.5% Waiver for Ing Salary Account Holder)
Nil Foreclosure Charges Special Offer*. Valid till (30th Sept'14 Rs.999 (for Salary above 65,000 (valid for login till 20th sept14)), else upto 2%
Kotak Bank 13.60%
(For Special Companies)
14.15%
14.70% 14.50% - 18% 5% 2%
State Bank of India/SBI (SBI Saral) 18.50% 18.50% 18.50% N.A N.A
Fullerton India 21% - 32% 21% - 32% 21% - 32% Zero after 3yrs (Otherwise 4%) 2%
Standard Chartered Bank 16% - 17% 17% - 18% 19% - 22% 2% - 5% 2%
HDBFS 16%
(for 75,000 & above salary)
17%
(for 35,000 - 75,000 salary)
18%
(below 35,000 salary)
16%
(for 75,000 & above salary)
17%
(for 35,000 - 75,000 salary)
18%
(below 35,000 salary)
17%
(for 75,000 & above salary)
18%
(for 35,000 - 75,000 salary)
21%
( below 35,000 salary)
NIL for Select Corporates Employees (CAT A & B) 4% For Rest 1% - 2%
Citibank 16%
(upto 30,000 salary)
15%
(above 30,000 salary)
17%
( upto 30,000 salary)
16%
(above 30,000 salary)
17%
(upto 30,000 salary)
16%
(above 30,000 salary)
3% 1% - 2%
IndusInd Bank 14%
(for 1 lac & above salary)
14.50%
(For 50,000- 1 Lac Salary)
16%
(below 50,000)
14.50%
(for 1 lac & above salary)
15%
(For 50,000- 1 Lac Salary)
15.50%
(Below 50,000 salary)
15%
(For 1 Lac & above salary)
15.50%
(For 50,000- 1 Lac salary)
16.50%
(Below 50,000 salary)
4% 1% - 2%
Axis Bank 15%
(For Super CAT A)
16%
(For CAT A)
17% 19% - 20% Nil 2%
Andhra Bank 15.75% - 16.75% 16.75% - 18.75% Rs250 - Rs1000/-
Bank of Baroda 14.75% 14.75%
Corporation Bank 14.50%
((undertaking letter required) )
N.A N.A N.A N.A
United Bank Of India 16%
(12%(For pensioners))
16% - 18%
(12%(For pensioners))
16% - 18%
(12%(For pensioners))
N.A. N.A.
Vijaya Bank 16% N.A N.A N.A. N.A.
Indian Bank 13.70% - 14.20% 13.70% - 14.20% 13.70% - 14.20% N.A 0.50% on the loan amount with min of Rs 500/-
Bank of India 15% 15% 15% N.A 2%
Canara Bank 14.95% 14.95% 14.95% N.A 0.25 %
Transfer your personal loan to HDFC Bank
As Low As 12.99% Flat Processing Fee of Rs 999/-
*Terms & conditions apply
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

The factors which determine your Personal Loan interest rates are as follows: -
• Income
• Your Company Status
• Credit and Payment history.
• Relationship with the Bank you intend to take loan from.
• Individual’s Negotiating Ability.

Income : If your Income is above a certain limit, Banks believe that your chances of not paying are lesser as you have Income to pay. Income above 75 per month usually gets some discounts from all personal loan Banks.
Your Company Status : If the company you are working with is a well known corporate, the Banks feel that you are less likely to shift from your job and will result in lesser defaults.
Credit and Payment History : Banks follows Cibil scores/rating before deciding giving loans. If your payments for Credit Cards and Loans is not upto mark , you have the most likely chance of being rejected for the loan or the Bank will give you at a much higher rate.
Relationship with Bank : The Bank where you have your Salary account/Savings account is likely to pass on you to some special rate for your personal Loans or Processing fee.
Individuals Negotiating Skills : Based on your above points you can always ask Bank to give you waivers on Rates, Fees Etc.
Before apply for personal loan, Calculate your personal loan emi with EMI Calculator
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.
TopTop

 
ICICI Personal Loan
    Home    Product Articles     Help Articles      Advertise With Us      Site Map      Terms of Use    Testimonials    Newsletter    Privacy Policy
Disclaimer: Information is sourced from respective Banks websites. We don't provide Loans on our own but ensures your information is sent to bank/agent which you have opted for. We don't do short term loans. Deal4loans has no sales team on its own and we just help you to compare loans .All loans are on discretion of the associated Banks/Agents. Read More
DMCA.com
© Copyright 2013, Deal4loans, India