Latest personal loan interest rates for SBI, PNB, Bank of Baroda, HDFC bank and ICICI bank

Personal loans are the most commonly availed loan products in the Indian debt industry, accounting for over 78% of all credits availed in the country. Their unsecured nature makes them a popular choice among prospective borrowers.

Individuals planning to avail such credits must be familiar with certain aspects before finalizing their decision. The first and primary loan feature a prospective borrower must decide is the EMI amount they will pay towards the repayment of the loan. The best way to calculate and determine EMIs is by using a personal loan EMI calculator.

Here are the latest interest rates and EMI details for personal loans from major banks:

State Bank of India (SBI)

Interest Rate (p.a.): 11.25% - 15.40%
EMI (for a loan amount of Rs 5 lakh, tenure of 5 years): Rs 10,934 - Rs 12,000

Punjab National Bank (PNB)

Interest Rate (p.a.): 10.40% - 17.95%
EMI (for a loan amount of Rs 5 lakh, tenure of 5 years): Rs 10,772 - Rs 12,683

Bank of Baroda

Interest Rate (p.a.): 11.10% - 18.75%
EMI (for a loan amount of Rs 5 lakh, tenure of 5 years): Rs 10,896 - Rs 12,902

HDFC Bank

Interest Rate (p.a.): 10.50% onwards
EMI (for a loan amount of Rs 5 lakh, tenure of 5 years): Rs 10,747 onwards

ICICI Bank

Interest Rate (p.a.): 10.80% onwards
EMI (for a loan amount of Rs 5 lakh, tenure of 5 years): Rs 10,821 onwards
Using a personal loan EMI calculator can help borrowers make informed decisions by providing an accurate estimate of the monthly repayments based on the loan amount, interest rate, and tenure.