Personal loans are one of the most sought-after financial products in India, offering quick access to funds without collateral. Whether you need a loan for medical emergencies, weddings, or home renovation, getting the best personal loan interest rates can help you save money.
In this guide, we will explore the best personal loan interest rates in India (2025), top banks offering low-interest rates, and how you can secure a personal loan in Mumbai at competitive rates.
Here’s a comparison of the best personal loan interest rates offered by top banks and NBFCs in 2025:
| Bank/NBFC | Interest Rate (Per Annum) | Loan Amount | Repayment Tenure |
|---|---|---|---|
| SBI Personal Loan | 10.50% – 14.00% | Up to Rs. 20 Lakhs | Up to 6 years |
| HDFC Bank | 10.75% – 18.00% | Up to Rs. 40 Lakhs | Up to 5 years |
| ICICI Bank | 10.99% – 16.50% | Up to Rs. 30 Lakhs | Up to 6 years |
| Axis Bank | 11.00% – 20.00% | Up to Rs. 40 Lakhs | Up to 5 years |
| Bajaj Finserv | 11.49% – 25.00% | Up to Rs. 25 Lakhs | Up to 6 years |
| Kotak Mahindra Bank | 10.99% – 24.00% | Up to Rs. 30 Lakhs | Up to 5 years |
| Tata Capital | 10.99% – 24.00% | Up to Rs. 25 Lakhs | Up to 6 years |
Note: Interest rates may vary based on your credit score, income, and lender’s terms.
If you’re looking for the best personal loan in Mumbai, follow these tips to secure a loan at the lowest interest rate:
A credit score of 750+ improves your chances of getting a lower interest rate. If your score is below this, take steps to improve it before applying.
Check different banks and NBFCs for the best offers. You can use the Personal Loan Mumbai page to compare options easily.
Opting for a shorter repayment tenure can reduce your total interest outgo and help you secure better terms.
If you have a co-applicant with a strong financial profile, lenders may offer a lower personal loan interest rate.
If you have an existing relationship with a bank (salary account, savings account, or previous loan), you may be eligible for preferential interest rates.
At Soni Money World, we help you find the best personal loan interest rates tailored to your financial needs. Here’s why you should apply through us:
Applying for a personal loan in Mumbai is simple with Soni Money World:
The lowest personal loan interest rate starts at 10.50% per annum, offered by SBI, HDFC, and ICICI Bank for eligible applicants.
A higher credit score (750+) makes you eligible for lower interest rates, while a low credit score may result in higher rates or loan rejection.
Yes, some lenders offer personal loans without salary slips, but you may need to provide alternate income proof like bank statements, ITRs, or business revenue records.
Many banks and NBFCs charge a foreclosure fee (2%-5%) if you repay your loan before the tenure ends. Always check the prepayment terms before applying.
Finding the best personal loan interest rate in India (2025) is crucial for saving on interest payments. If you’re looking for a personal loan in Mumbai, compare the top banks and NBFCs on Soni Money World to get the best deals.
For expert guidance and quick loan approvals, contact us today! 🚀
