Loans
Borrow at the real lowest cost, not the ad rate
Every lender shouts a teaser rate. We rank on rate plus processing fee, show you the actual EMI, and remind you what a longer tenure really costs.
Quick answer
To find the cheapest loan in India, compare the effective interest rate plus processing fees — not the advertised teaser rate. Personal loans range from 11–24% depending on your CIBIL score; education loans are typically 9–12%. Shorter tenure always saves total interest even if the EMI is higher.
How much do you need?
₹5LOver how long?
48 monthsCheapest for you
HDFC Bank
Est. EMI
₹12,802
Total interest
₹1.1L
From rate
10.5%
- Rates from 10.5% with a 1% processing fee.
- Among the lowest starting rates available.
- Low processing fee keeps the upfront cost down.
EMI uses the best-case “from” rate. Your actual rate depends on your credit score and income.
Compare every lender
| Lender | Rate (from) | Processing fee | Max amount | Max tenure |
|---|---|---|---|---|
| HDFC Bank | 10.5% | 1% | ₹40L | 72 mo |
| SBI Xpress Credit | 11.15% | 0.75% | ₹35L | 72 mo |
| ICICI Bank | 10.85% | 2% | ₹50L | 72 mo |
| Axis Bank | 10.99% | 1.5% | ₹40L | 84 mo |
| Bajaj Finserv | 11% | 3.5% | ₹55L | 96 mo |
Before you sign anything
Shorter tenure wins. Stretching a loan lowers the EMI but quietly multiplies the total interest. Borrow for the shortest term you can comfortably afford.
Your credit score is the rate. The “from” rates here go to borrowers with a 750+ CIBIL score. Check yours before applying — and never take a personal loan to invest.
Curious what an EMI does to your budget? Run the EMI calculator · Check loan eligibility.
Common questions
- Which bank has the lowest personal loan rate in India?
- Rates change frequently and depend on your credit score, employer, and income. Public sector banks often start lower for salaried employees with 750+ CIBIL. Compare effective rates including processing fees — not just the advertised 'from' rate.
- Personal loan or credit card — which is cheaper?
- Personal loans at 11–18% are almost always cheaper than credit card APR of 36–48%. Never carry a credit card balance when a personal loan could consolidate it at half the cost.