Personal loans in India 2026: RBI-listed banks ranked
A ranking of Indian scheduled commercial banks by their standard unsecured personal loan. Every bank is confirmed in the Reserve Bank of India's list of scheduled commercial banks. Digital lending apps, payday and microfinance lenders, intermediaries and comparison sites are excluded. We use the lowest published starting rate ("starting from" or the lower end of the published range), as a percentage of the reference of 9.995% (the median at launch). That is the best advertised rate, not what most applicants pay, and it is not the annual cost stated in the terms of your own offer; some products are open only to customers whose salary is paid into that bank, and each card says what was measured. A loan is a financial obligation: it must be repaid with interest, and the rate depends on the applicant and the bank's decision. This ranking is not a recommendation and promises neither approval nor a rate. Compare Scores only within India. Score is not for sale; paid placements, if any appear, will be a separate labelled block.
| # | Company | Who it serves | ||||
|---|---|---|---|---|---|---|
| 1 | Punjab National Bank (loans) | 82 | 1895 | Yes | 105% | Licensed Free early repayment Fees published Online application |
| 2 | ICICI Bank (loans) | 80 | 1994 | Yes | 100% | Licensed Fees published Online application |
| 3 | Indian Bank (loans) | 78 | 1907 | Yes | 99% | Licensed Fees published Online application |
| 4 | Axis Bank (loans) | 78 | 1994 | Yes | 100% | Licensed Fees published Online application |
| 5 | IDFC FIRST Bank (loans) | 78 | 2015 | Yes | 100% | Licensed Free early repayment No arrangement fee Fees published Online application |
| 6 | IndusInd Bank (loans) | 77 | 1994 | Yes | 105% | Licensed Fees published Online application |
| 7 | State Bank of India (loans) | 76 | 1955 | Yes | 100% | Licensed Fees published |
| 8 | Kotak Mahindra Bank (loans) | 74 | 2003 | Yes | 110% | Licensed Fees published Online application |
-
- Licensed since
- 1895
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 105%
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
Details Visit site ↗ 98% backed by facts
-
- Licensed since
- 1994
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 100%
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
- A charge can apply to early repayment
Details Visit site ↗ 100% backed by facts
-
- Licensed since
- 1907
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 99%
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
Details Visit site ↗ 92% backed by facts
-
- Licensed since
- 1994
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 100%
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
- A charge can apply to early repayment
Details Visit site ↗ 98% backed by facts
-
- Licensed since
- 2015
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 100%
Pros
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
- No arrangement fee in the standard terms
Details Visit site ↗ 100% backed by facts
-
- Licensed since
- 1994
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 105%
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
- A charge can apply to early repayment
Details Visit site ↗ 98% backed by facts
-
- Licensed since
- 1955
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 100%
Pros
- Long licence history
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
Cons
- An arrangement fee can apply
- A charge can apply to early repayment
- Online application is not open to new customers
Details Visit site ↗ 100% backed by facts
-
- Licensed since
- 2003
- Licensed by the regulator
- Yes
- Published rate, % of country reference
- 110%
Pros
- Licence confirmed by the official list or a stated licence number
- Fees or full loan terms are readable without login
- Publishes how to complain
- New customers can apply online
Cons
- An arrangement fee can apply
- A charge can apply to early repayment
Details Visit site ↗ 100% backed by facts
How we calculate the Score
35%
Licence
Whether the lender appears in the regulator's official list, or states its licence number on its site, and how long it has held a licence or registration. Where the register shows no date we use the year stated on the official site, which can be the founding year. A licence means supervision; it does not make a loan cheap or safe for you.
30%
Transparency
Whether a fees document or the full loan terms can be read without logging in, whether the lender publishes how to complain, and whether its terms state that early repayment is free. A statutory early repayment charge counts as a charge.
25%
Cost
The published rate of the standard cash loan as a percentage of the country's reference rate, the median of the rates we collected at launch (100% equals the reference; the score falls from 50% to 200%). The original rate with its example amount and term is shown beside it. The basis differs by country, so compare only within one country. We also count whether the standard terms have no arrangement fee. This factor deliberately weighs less than licence and transparency.
10%
Service
Whether a new customer can apply online, weekly hours of general support, and the maximum amount and term compared within the country. A larger or longer loan is not better for you: more time usually means more interest paid. That is why these two facts carry little weight.
What to check in a loan offer
A loan is an obligation
You commit to fixed payments for the whole term, whatever happens to your income. Late or missed payments can bring extra charges and harm your credit history, and the lender can take legal steps to recover the debt.
Verify the licence
Look the lender up in the official list of the central bank or financial regulator by its exact legal name and compare the website address. Fraudsters copy the names of real lenders. A real lender does not ask for an upfront payment to release a loan.
Read the rate as an example
The published figure is an example or a lowest rate. Your rate depends on your income, credit history, amount and term, and the lender may refuse. Read the individual offer before signing.
Look at the total to repay
Compare the total amount repayable, not only the monthly payment. A longer term lowers the payment but usually raises the interest you pay overall.
Check fees and insurance
Look for arrangement fees, early repayment charges, late payment charges and whether insurance is required. Each of these changes the real cost. The figures must be in the pre-contract information.
Know how to complain
Complain to the lender in writing first and keep the reference. If the reply does not resolve it, contact the financial ombudsman, where one exists, or the regulator. If you have trouble repaying, contact the lender early and consider free independent debt advice where available.
Frequently asked questions
Who regulates banks that offer personal loans in India?
Banks and non-banking finance companies are regulated by the Reserve Bank of India (RBI). This ranking includes only banks that appear in the RBI's list of scheduled commercial banks.
How do I check that a lender is genuine?
Look the bank up in the RBI's List of Scheduled Commercial Banks on rbi.org.in (section RBI Regulated Entities); non-bank lenders should appear in the RBI's list of Non-Banking Finance Companies on the same page. Compare the exact legal name and the website address. A genuine lender does not ask for an upfront payment to release a loan, and loan apps not linked to a regulated bank or NBFC are best avoided.
Why is the rate I am offered higher than the rate in the ranking?
Banks publish a starting rate for their best-profile applicants. Your rate depends on your income, employer, credit score, amount and term, and on whether you already bank with the lender. Before signing, ask for the full written terms of your own offer and compare the total amount repayable, including the processing fee and GST.
Can I repay a personal loan early?
Usually yes, but many banks charge a foreclosure or part-payment fee, often a percentage of the outstanding principal, and some allow it only after a number of EMIs. A few banks publish no foreclosure charge. Each card shows what the bank publishes and links to its schedule of charges.
Is this a recommendation, and can a lender buy a place?
No. This is not financial advice and not a recommendation to borrow. Score is not for sale: a lender cannot pay to be ranked higher. If paid placements ever appear, they will be in a separate block labelled Sponsored.