Find the lowest interest rates: Top banks for personal loans in March 2025

Personal loans are a smart choice if you are in need of instant cash and do not have assets to give as collateral. These loans provide instant disbursement with minimal paperwork so that you can give quick access funds. If you are planning to borrow a personal loan in March 2025, here’s a list of the top banks offering low interest rates on personal loans:

1. HDFC Bank

Repayment tenure: Up to 6 years

Maximum loan amount: ₹40 lakh

2. ICICI Bank

Repayment tenure: Up to 6 years

Maximum loan amount: ₹50 lakh

Processing fee: Up to 2% of the loan amount

3. Kotak Mahindra Bank

Repayment tenure: Up to 6 years

Maximum loan amount: ₹35 lakh

Processing fee: Up to 5% of the loan amount

4. YES Bank

Repayment tenure: Up to 5 years

Maximum loan amount: Up to 40 lakh

Processing fee: Up to 2.5% of the loan amount

5. State Bank of India

Repayment tenure: Up to 7 years

Maximum loan amount: Up to 35 lakh

Processing fee: Nil till 31st March 2025

6. Federal Bank

Repayment tenure: Up to 4 years

Maximum loan amount: Up to 5 lakh

Processing fee: Up to 2.5% of the loan amount

7. Axis Bank

Repayment tenure: Up to 5 years

Maximum loan amount: Up to 10 lakh

Processing fee: Up to 2% of the loan amount

8. IndusInd Bank

Repayment tenure: Up to 7 years

Maximum loan amount: Up to 50 lakh

Processing fee: Up to 4% of the loan amount

Tips to get low interest rate on personal loans

• To qualify for better loans, keep a credit score of 750 or above.
• Look for pre approved personal loan offers from banks based on your credit profile.
• It is better to check for personal loans with banks where you already have an existing deposit or loan accounts.
• Lenders often offer interest rate discounts during festive seasons.

Lastly, it is important to understand that personal loans offer a higher interest rate as compared to other loans in the market. Hence, before you apply for a personal loan it is important to explore other options available so that you can get a deal which suits your budget best.

(Note: Raising a loan comes with its own risks. So, due caution is advised)