Personal Loan Interest Rates June 2026: Compare EMI Across SBI, HDFC, ICICI & Other Banks

Are you planning to take a personal loan this month? Before submitting your application, it is important to compare the interest rates offered by different banks in June 2026. Even a small difference in the interest rate can significantly impact your monthly EMIs and the total repayment amount over the loan tenure.

For example, if you borrow Rs 10 lakh for a period of five years:

•At an interest rate of 9% per annum, the monthly EMI would be around Rs 20,758.
•At an interest rate of 10% per annum, the monthly EMI would increase to about Rs 21,247.

This difference of just 1 percentage point translates into savings of Rs 489 every month, or approximately Rs 5,868 over a year. Over the entire loan tenure, the savings can be much higher.

To help borrowers make an informed decision, we have compared the personal loan interest rates offered by major private- and public-sector banks in June 2026. For ease of comparison, the EMI calculations below are based on a loan amount of Rs 10 lakh with a repayment tenure of five years.

Private Sector Banks Personal Loan Interest Rates In June 2026

HDFC Bank

India's largest private lender offers personal loans at interest rates ranging from 9.99% to 24% per annum.
Monthly EMI: Rs 21,242

ICICI Bank

ICICI Bank charges interest rates between 9.99% and 16.50% per annum. The bank also levies a processing fee of up to 2% of the loan amount, plus applicable taxes.
Monthly EMI: Rs 21,243

Kotak Mahindra Bank

Personal loan interest rates start at 10.99% per annum.
Monthly EMI: Rs 21,737

Federal Bank

Federal Bank offers personal loans at interest rates starting from 11.99% per annum.
Monthly EMI: Rs 22,239

Axis Bank

Personal loan interest rates begin at 8.95% per annum, making it one of the lowest starting rates among major private lenders.
Monthly EMI: Rs 20,758

IndusInd Bank

The bank offers personal loans at interest rates starting from 10.49% per annum.
Monthly EMI: Rs 21,489

Public Sector Banks Personal Loan Interest Rates In June 2026

State Bank of India (SBI)

Personal loan interest rates start at 10% per annum.
Monthly EMI: Rs 21,247 onwards

Bank of Baroda

Interest rates begin at 10.15% per annum.
Monthly EMI: Rs 21,321 onwards

Punjab National Bank (PNB)

The bank offers personal loans starting at 10.25% per annum.
Monthly EMI: Rs 21,370 onwards

Canara Bank

Interest rates start from 9.70% per annum.
Monthly EMI: Rs 21,100 onwards

Indian Overseas Bank

The bank charges interest rates from 10.25% per annum.
Monthly EMI: Rs 21,370 onwards

Bank of India

Personal loan interest rates begin at 10.85% per annum.
Monthly EMI: Rs 21,668 onwards

While the starting interest rates provide a useful benchmark, the final rate offered to a borrower depends on several factors, including credit score, income level, employment profile, existing debt obligations, and repayment history. As a result, the actual EMI may vary from the figures mentioned above.

Borrowers should also compare processing fees, prepayment charges, loan tenure flexibility, and other terms and conditions before choosing a lender. A thorough comparison can help reduce borrowing costs and ensure a more affordable repayment experience.