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Borrow Smart: How SBI, ICICI, HDFC, and Axis Are Competing on Personal Loan Rates

Updated: June 28, 2025 13:09

Image Source: WowNews24x7
If you're planning a big purchase or need funds for an emergency, June 2025 is offering some competitive personal loan options from India’s top banks. With the Reserve Bank of India easing rates, lenders are adjusting their offers to attract borrowers.
 
Key Highlights:
 
SBI is offering personal loans starting at 10.30% per annum, with amounts up to ₹35 lakh and tenures up to 7 years. Processing fees go up to 1.5%.

ICICI Bank provides loans up to ₹50 lakh at 10.85% to 16.65%, with flexible tenures of 1 to 6 years. Processing fees are capped at 2%.

HDFC Bank offers fully digital loans up to ₹40 lakh, with interest rates ranging from 10.85% to 21%. Borrowers may pay up to ₹6,500 in processing charges.

Axis Bank personal loans start at 11.25%, with amounts up to ₹40 lakh and tenures from 1 to 7 years. Processing fees can reach 2% of the loan amount.

Eligibility and rates depend on credit score, income, and employer profile. Most banks offer faster approvals for salaried individuals and pre-approved customers.

Digital platforms and mobile apps have made the application process quicker, with many banks offering instant disbursals for eligible applicants.
 
With rates this close, the best deal often comes down to your credit profile and repayment capacity. Comparing offers and reading the fine print—especially on fees and prepayment terms—can help you borrow smarter.
 
Sources: Moneycontrol, LiveMint, Economic Times

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