LoansBazaar India | Loan Comparison & Assistance
Loan Interest Rates in India 2026
Explore indicative starting interest rates across Personal Loans, Home Loans, Business Loans, MSME Finance, Gold Loans, Car Loans, Education Loans and other financing options. Compare loan categories, understand eligibility and prepare your documents before applying.
Starting Interest Rates by Loan Category
The following table lists the supplied starting rates and ranges without changing the figures. Actual pricing may differ by lender, borrower profile, loan amount, collateral, credit score and product scheme.
| Loan Category | Indicative Starting Rate / Range (p.a.) | Important Considerations |
|---|---|---|
| Personal Loan | 9.98% to 10.00% | Income, employment, credit history and repayment capacity. |
| Home Loan | 7.10% to 7.25% | Property, loan-to-value ratio, credit profile and lender scheme. |
| Business Loan / MSME Loan | 8.15% to 8.50% for secured/regulatory public bank schemes; 10.50% to 14.00%+ for private/unsecured loans. | Business vintage, turnover, financial statements, security and scheme. |
| Gold Loan | 8.50% to 9.00% | Gold purity, weight, loan-to-value ratio, tenure and repayment type. |
| Car Loan | 7.45% to 8.35% | New or electric vehicle, down payment, credit profile and tenure. |
| Education Loan | 6.85% to 7.00% under special government or premier institute schemes. | Course, institution, co-applicant, collateral and scheme eligibility. |
| Loan Against Property (LAP) | 7.50% to 8.75% | Property type, valuation, income, loan amount and lender policy. |
| Machinery Loan & Equipment Finance | 9.00% to 11.50% | Asset type, business cash flow, equipment value and commercial backing. |
| Working Capital / Cash Credit / Overdraft | 8.50% to 11.50% | Business turnover, drawing power, security and applicable benchmark. |
| Project Finance | 9.50% to 12.00% | Project viability, promoter contribution, cash flow and underwriting. |
| Startup Business Loan | 11.00% to 16.00% | Business stage, cash flow, credit history, security and scheme conditions. |
| Invoice Discounting / Invoice Financing | 10.00% to 14.00% | Invoice quality, buyer/debtor creditworthiness and payment cycle. |
| Commercial Vehicle Loan | 8.50% to 11.00% | Vehicle category, usage, down payment and business profile. |
| School & College Funding | 8.50% to 10.50% | Institutional finances, project feasibility, property and security. |
| Balance Transfer & Top-Up Loans | 7.20% to 10.99% | Existing loan type, repayment record, outstanding amount and lender policy. |
Rates are annual percentages (p.a.). A quoted starting rate may apply only to selected eligible borrowers or specific schemes. Processing fees, insurance, taxes, documentation charges and other costs may be additional.
Explore Loan Categories
Personal Loan
Explore personal borrowing options for eligible salaried and self-employed applicants.
Apply for Personal Loan →Home Loan
Explore home purchase, construction, renovation, balance transfer and top-up options.
Explore Home Loan →Business / MSME Loan
Explore business funding, working capital and secured or unsecured financing.
Explore Business Loan →Gold Loan
Compare eligible gold-backed financing options and repayment structures.
Explore Gold Loan →Education Loan
Special scheme rates may depend on the institution, course and eligibility.
Explore Education Loan →Banks, NBFCs & Small Finance Banks
Applicants may explore relevant products from banks, Non-Banking Financial Companies (NBFCs), housing finance companies and Small Finance Banks (SFBs). The names below are examples of financial institutions to research, not a confirmation that every institution currently offers every loan type or the rates listed above.
Public Sector Banks
- State Bank of India (SBI)
- Bank of Baroda
- Punjab National Bank (PNB)
- Canara Bank
- Union Bank of India
- Bank of India
- Indian Bank
- Central Bank of India
- UCO Bank
- Bank of Maharashtra
- Indian Overseas Bank
Private Sector Banks
- HDFC Bank
- ICICI Bank
- Axis Bank
- Kotak Mahindra Bank
- IndusInd Bank
- IDFC FIRST Bank
- Federal Bank
- Yes Bank
- South Indian Bank
- RBL Bank
- Bandhan Bank
Small Finance Banks
- AU Small Finance Bank
- Ujjivan Small Finance Bank
- Equitas Small Finance Bank
- Jana Small Finance Bank
- ESAF Small Finance Bank
- Suryoday Small Finance Bank
- Utkarsh Small Finance Bank
- Capital Small Finance Bank
- North East Small Finance Bank
NBFCs & Housing Finance Companies
- Bajaj Finance
- Tata Capital
- Aditya Birla Finance
- L&T Finance
- Cholamandalam Investment and Finance
- Mahindra Finance
- TVS Credit
- Shriram Finance
- Poonawalla Fincorp
- Muthoot Finance
- Manappuram Finance
- LIC Housing Finance
- Piramal Finance
- PNB Housing Finance
- India Shelter Finance
- Home First Finance
Documents Required for Loan Applications
The exact documents depend on the lender, product, applicant profile and loan amount. The following are common examples; the lender may ask for additional documents.
Personal Loan
- PAN card and identity/address proof
- Recent salary slips, where applicable
- Bank statements
- Employment or business details
- Photograph and application form, if required
Home Loan / LAP
- PAN and identity/address proof
- Salary slips or income-tax returns
- Bank statements
- Property title and ownership documents
- Sale agreement, valuation and legal papers as applicable
Business / MSME Loan
- PAN and KYC documents of applicant/entity
- Business registration and GST details, if applicable
- Bank statements
- Financial statements and ITRs
- Business proof, projections or collateral papers as required
Gold Loan
- Identity and address proof
- PAN or other documents as applicable
- Gold ornaments for lender valuation
- Completed application and declarations
Car / Commercial Vehicle
- KYC and PAN
- Income proof and bank statements
- Vehicle quotation or pro forma invoice
- Business and vehicle-use details for commercial finance
Education Loan
- Student and co-applicant KYC
- Admission letter and fee structure
- Academic records
- Co-applicant income and bank documents
- Collateral papers, where required by the scheme
Key Features to Compare Before Applying
- Interest rate: Check whether the quoted rate is fixed or floating and whether it applies to your profile.
- APR and total cost: Compare the overall borrowing cost, including fees and mandatory charges.
- EMI and tenure: Choose a repayment period that suits your cash flow and monthly budget.
- Processing fees: Ask for the applicable fee schedule and any other charges in writing.
- Prepayment and foreclosure: Check the applicable conditions and charges before signing.
- Collateral and guarantor: Confirm whether security, a co-applicant or a guarantor is required.
- Eligibility: Consider income, credit history, existing EMIs, business performance and lender policies.
- Final sanction: Only the lender can approve an application and determine final terms.
Other Loan Products Available to Explore
LoansBazaar India provides loan enquiry and application assistance for a range of loan categories. Explore the relevant options below.
How to Apply Through LoansBazaar India
- Choose a loan category: Select the type of financing that matches your requirement.
- Submit an enquiry: Complete the application form with accurate details.
- Prepare your documents: Keep the relevant KYC, income and product-specific documents ready.
- Review available options: Compare applicable rates, fees, repayment terms and eligibility requirements.
- Apply with the lender: Complete the required lender process and provide any additional information requested.
- Await the lender's decision: Approval, sanction amount, rate and final terms are determined by the lender.
Ready to explore loan options?
Start an enquiry or calculate an estimated EMI before deciding on a loan. EMI calculations are estimates and may exclude fees, insurance and other charges.
Frequently Asked Questions
What are the current starting loan interest rates in India?
The indicative figures on this page range from 6.85% to 16.00%+ p.a., depending on the loan category and the stated range. These are supplied reference figures, not verified live offers. Contact the lender to confirm current rates and eligibility.
Which loan has the lowest interest rate?
Some eligible home loans and special education loan schemes may have lower advertised starting rates than unsecured loans. The lowest advertised rate is not necessarily available to every applicant. Compare the actual offer, fees and total repayment cost.
Does a high credit score guarantee a lower interest rate?
No. A strong credit profile may help, but lenders also consider income, repayment obligations, employment or business stability, collateral and internal eligibility rules. Approval and pricing are not guaranteed.
Can I compare banks, NBFCs and Small Finance Banks?
You can research the relevant product categories across these institution types. Availability and terms vary by institution, and not every lender offers every product. Verify the current product and rate directly with the institution.
What documents are required to apply for a loan?
Common requirements include identity and address proof, PAN, bank statements and income documents. Business, property, vehicle and education loans may require additional documents. The lender provides the final document checklist.
Does LoansBazaar India guarantee loan approval?
No. LoansBazaar India offers loan enquiry, comparison and application assistance. Approval, interest rate, sanctioned amount, fees and other terms depend on the lender's eligibility criteria, policies, documents and final decision.
Are the interest rates on this page guaranteed or live quotes?
No. The figures are indicative reference figures supplied for this page and are not independently verified live quotes. Rates and schemes can change. Confirm the current offer and applicable charges with the relevant lender before making a decision.
Contact LoansBazaar India
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Disclaimer
This page is intended for general informational and educational purposes only. Interest rates, ranges, schemes, lender availability and product conditions are indicative and may change without notice. The rates displayed are not guaranteed offers and have not been independently verified as live rates for every named lender as of 24 October 2026. Some figures may relate to specific borrower categories, secured products or special schemes.
Actual interest rates, annual percentage rate (APR), loan amount, tenure, EMI, processing fees, taxes, insurance, security requirements, eligibility, approval and other terms are subject to the respective lender's current policies, applicant profile, credit assessment, documentation and final approval. The lender's official sanction letter and agreement prevail over general information on this page.
LoansBazaar India provides loan enquiry, comparison and application assistance. Listing a financial institution does not necessarily mean it is a partner, endorses this website or will provide a loan to any particular applicant. LoansBazaar India does not guarantee approval, a specific interest rate or disbursement. Applicants should verify all details with the relevant regulated lender before applying.
Page information reference date: 24 October 2026. Please confirm the latest applicable rates and terms with the lender before proceeding.