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Personal Loan Interest Rates November 2026
The lowest personal loan interest rate we found this month is 9.99% from ICICI Bank. Compare the best personal loan rates from 2 banks below, each linked to the bank's own page. A personal loan is an unsecured loan for any purpose, so rates are usually higher than for secured loans and depend heavily on your credit score and income.
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Personal Loan rates by bank
| Bank | Starting rate | Processing fee | Prepayment | Max tenure |
|---|---|---|---|---|
 ICICI BankLowest rate | 9.99% | Up to 2% of the loan amount, plus applicable taxes | Zero foreclosure charges after 24 EMIs | 7 yrs |
 Kotak Mahindra Bank | 10.99% | Not stated on page | Not stated on page | 6 yrs |
Sorted from lowest to highest starting rate. Each bank page links to its official source and check date.
These figures use the bank's advertised starting rate. Most borrowers are offered a higher rate depending on credit score, income and loan size, so treat the result as a best case.
Prepayment options (optional): pay extra to finish sooner
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Frequently asked questions
Which bank has the lowest personal loan interest rate?
Among the banks we have checked, ICICI Bank advertises the lowest starting rate at 9.99% per annum (checked 2026-11-01). The rate you are offered can be higher.
What is the EMI on a ₹5 lakh personal loan for 3 years?
At 9.99% it is about ₹16,131 a month, and at 12% it is about ₹16,607.