Bank of India Personal Loan Interest Rates

Bank of India offers personal loan interest rates starting from 11.60% p.a. onwards for loan amount of up to Rs...

Bank of India offers personal loan interest rates starting from 11.60% p.a. onwards for loan amount of up to Rs 25 lakh and repayment tenures of up to 7 years. The public sector bank also offers personal loans to pensioners, labeled as BOI Star Pensioner Loan Scheme, at 11.60% p.a. onwards.

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HDFC Bank

10 Second Disbursal*100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 12.5%

Tenure upto1-5 Years

Processing Fee₹ 6,500

ICICI Bank

100% Digital Process*Quick Disbursal

Max Loan Amt.Upto ₹25L

Rate of Interest11% - 13%

Tenure upto1-5 Years

Processing FeeUpto 2%

Axis Bank

Low Processing fee

Max Loan Amt.Upto ₹25L

Rate of Interest9.99% - 17.15%

Tenure uptoUpto 6 Years

Processing FeeUpto 2%

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Bank of India Personal Loan Interest Rate

What are the factors affecting personal loan interest rates?

What are the tips to avail personal loans at low interest rates?

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Bank of India Personal Loan Interest Rate

Floating rates

Clean/Unsecured	13.85% p.a.
Financing secured under tie-up arrangements	12.85% p.a.
For senior citizens aged 60 years and more for loan amount of up to Rs 50,000	11.85% p.a.
Star Pensioner Loan Scheme	10.85% p.a.
Star Suvidha Express Personal Loan	Salaried/Pensioner: 10.85% Others: 11.85%

Fixed Rates

Clean/Unsecured	16.15% p.a.
Financing secured under tie-up arrangements	15.15% p.a.
For senior citizens above 60 years of age and above loan of Rs 50,000	14.15% p.a.
Star Pensioner Loan Scheme	13.15% p.a.
Star Suvidha Express Personal Loan	Salaried/Pensioner- 13.15% Others- 14.15%

Personal Loan Interest Rates by Other Banks/NBFCs

Bank/NBFC	Interest Rates (% p.a.)	Processing Fees
Aditya Birla Finance	10.99 onwards	Up to 4%
Axis Bank	9.99 onwards	Up to 2%
Bank of Baroda	10.15-18.05	Up to 2% (Max. Rs. 10,000)
Bajaj Finance Limited	10.00-30.00	Up to 3.93%
Bank of Maharashtra	8.75-13.55	Up to 1% (Max. Rs. 10,000)
Canara Bank	9.70-15.15	Up to 0.5% (Max. Rs. 5000)
Central Bank of India	9.65-11.55	Up to 1%
Cholamandalam IFC	10.00-28.00	4% - 6%
Dhani Loans & Services Ltd.	13.99 onwards	3% onwards
Federal Bank	11.99 onwards	Up to 2%
HDB Financial Services	10.00 - 35.00	Up to 5.90%
HDFC Bank	9.99 onwards	Up to Rs 6,500
Hero Fincorp	19.00 onwards	2.3% - 3%
HSBC Bank	9.95 onwards	Up to 2%
ICICI Bank	9.99 onwards	Up to 2%
IDFC FIRST Bank	9.99 onwards	Up to 2%
IIFL Finance	12.75 - 44.00	2% - 9%
Indian Overseas Bank	10.25 onwards	Up to 0.75%
IndusInd Bank	10.35 onwards*	Up to 3.5% (2% for instant personal loans for limited period)
Kotak Mahindra Bank	9.98 onwards*	Up to 5%
L&T Finance	11.00 onwards	Up to 3%
Mahindra Finance	8.00 - 25.00	2% of loan amount or Rs. 5,000, whichever is lower
Mannapuram Finance	18.00 - 24.00	1% of loan amount
Moneyview	14.00 onwards	2% onwards
Muthoot Finance	14.00 - 22.00	Varies for each application
Piramal Finance	12.14 onwards	Up to 5%
Poonawalla Fincorp	9.99 onwards	Up to 3%
Punjab & Sind Bank	9.60-13.85	0.50% - 1%
Punjab National Bank	10.25-16.80	Up to 1%
Shriram Finance	11.00 onwards	Up to 5%
Tata Capital	10.99 onwards	Up to 3.5%
UCO Bank	9.95 - 13.20	Up to 1% (Min. Rs. 750)
Union Bank of India	8.75 - 12.55	Up to 1% (Max. Rs. 7,500)

*Paisabazaar special rates
Note: Rates as of 9th February 2026

What are the factors affecting personal loan interest rates?

The differential interest rates of various Bank of India Personal Loan schemes and for different categories of its personal loan applicants have not been disclosed. Note that as with any other lender, Bank of India may also factor in various parameters such as monthly income, job profile, credit score, employer’s profile, etc. of its personal loan applicants for setting their personal loan interest rates. Let us walk you through some of the prime factors that influence the interest rates of your personal loan.

Credit score

Many lenders consider the credit scores of their loan applicants when fixing their interest rates. Applicants with higher credit scores (750 and above) are more likely to avail loans at lower interest rates compared to those with lower credit scores. Timely repaying credit card bills and EMIs, avoiding multiple credit card applications or loans within a short period and maintaining minimum credit utilisation ratio helps maintain higher credit scores, and thereby improves your credit card, home loan and personal loan eligibility.

Moreover, errors in the credit report can also lower the credit score, which is why it is crucial to keep checking the credit reports at regular intervals, identify such errors and take necessary precautions to avoid this from happening.

Income

Bank of India offers personal loans to individuals with high net worth. Higher income indicates higher loan repayment capacity, which further lowers the credit risk of banks. Like Bank of India, other lenders also prefer offering lower personal loan interest rates to applicants with higher income.

Employer

Many banks consider the employer profile of their loan applicants when setting their interest rates. Lenders usually offer personal loan for salaried at lower interest rates than those set for personal loan for self-employed. Salaried applicants of government and PSUs are also offered lower interest rates considering their higher job and income security. Personal loan applicants working in MNCs and reputed private sector organisations are also offered lower interest rates as such organisations have higher capacity of tackling economic downturns compared to the applicants employed in other private sector organisations.

Existing relationship with the lender

Many lenders offer personal loans at concessional interest rates to applicants having existing lending or deposit accounts with them. Hence, those planning to apply for personal loan should always contact the banks/NBFCs with whom they already have an existing banking or lending relationship to enjoy lower interest rates.

What are the tips to avail personal loans at low interest rates?

Maintain a credit score of 750 or above.
Check for pre-approved personal loan offers from banks and NBFCs.
Keep track of personal loan interest rates offered by top banks/NBFC, especially during festive seasons.
Enquire with banks/NBFCs with whom you have deposit or loan accounts.
Visit online financial marketplaces to check and compare personal loan offers from different banks.

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Step 1: Enter your mobile number in the application form

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Step 3: Enter OTP to verify your mobile number

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FAQs

Bank of India offers personal loan interest rates ranging from 11.60% to 16.20% p.a. depending on the credit score, occupation profile, type of personal loan schemes and lender’s existing relationship with the applicants.

Bank of India offers personal loan interest rates depending on the credit score, occupation profile, lender’s existing relationship with the lender and types of personal loan schemes. The lender offers lowest interest rates to salaried applicants availing personal loans from Bank of India.

Bank of India offers personal loans at floating interest rates. As Bank of India Personal Loan interest rates are linked to RBLR (Repo Base Lending Rate), any change in the repo rate is leads to similar change in the personal loan interest rate, depending on the interest reset date of the borrower.

The interest cost of Bank of India Personal Loan can be calculated with the help of Bank of India Personal Loan EMI Calculator. All you need to do is enter your loan amount, loan tenure and interest rate in the EMI calculator and get the interest cost and EMIs payable instantly.

Bank of India has not specified any discount or concession on its personal loan interest rate. Applicants can connect directly with the bank to check if they qualify for any discount or offer on personal loan interest rate.

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