Updated 10 July 2025 at 19:06 IST
Looking For Personal Loans? Here Are Some Of The Best Offers For July 2025
We all have several unplanned purchases, debt consolidation, medical emergencies, and various other needs which can be met through personal loans.
- Republic Business
- 2 min read
We all have several unplanned purchases, debt consolidation, medical emergencies, and various other needs which can be met through personal loans.
However, these loans are termed as "unsecured" because one is not required to pledge any assets as collateral, unlike with home or auto loans.
Personal loans are convenient ways to receive necessary funds fast.
What Factors Are Considered?
There are several factors like CIBIL score, repayment history, principal amount, and tenure, which influence the interest rate on personal loans.
Advertisement
This is why borrowers need to compare the interest rates from other lenders as even a slight difference could impact their financial situation immensely.
Lending Rates Reduced
Several banks have reduced their lending rates as the Reserve bank of India (RBI) cut the repo rate of 1% or (100 basis points) which began in February.
Advertisement
Consequently, several public and private sector banks have passed on the benefit to borrowers by lowering their marginal cost of funds-based lending rate (MCLR) and other benchmark lending rates.
Therefore, home loans, car loans as well as personal loans have cheaper rates of interest.
What Are Some Of The Best Offers For July 2025?
Here are some of the best offers for July 2025:
| Name of Lender | Interest Rate (p.a.%) | EMI (Rs) Loan Amount - 5 lakh Tenure - 5 years | EMI (Rs) Loan Amount - 1 lakh Tenure - 5 years | Processing fee (% of loan amount) |
| HDFC Bank | 10.90-24 | 10,846-14,384 | 2,169-2,877 | Up to Rs 6,500 |
| State Bank of India | 10.30-15.30 | 10,697-11,694 | 2,139-2.395 | Up to 1.5% (Min. Rs 1,000; Max. Rs 15,000) |
| ICICI Bank | 10.80 onwards | 10,821 onwards | 2,164 onwards | Up to 2% |
| Axis Bank | 9.99-22 | 10,621-13,809 | 2,124-2,762 | Up to 2% |
| Kotak Mahindra Bank | 10.99 onwards | 10,869 onwards | 2,174 onwards | Up to 5% |
Published By : Sagarika Chakraborty
Published On: 10 July 2025 at 19:06 IST