May 2026 Personal Loan Rates: Competitive Offers from Major PSU Banks
SBI, PNB, Bank of Baroda, and 4 other PSU banks offer personal loan rates starting at 7.10% in May 2026. See comparison
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In May 2026, personal loan rates from public sector banks in India start at 7.10%. Banks like Bank of India, Canara Bank, and Union Bank offer attractive rates, making them a preferred choice for borrowers. It's essential to compare options and consult financial advisors before applying.
- 01Personal loan rates start at 7.10% from Bank of India.
- 02Canara Bank, Union Bank, and Indian Bank offer rates of 7.15%.
- 03Bank of Baroda's rate is 7.20%, while State Bank of India offers 7.25%.
- 04Rates may vary based on individual profiles and loan amounts.
- 05Borrowers should conduct thorough comparisons and seek financial advice.
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In May 2026, several public sector banks in India are offering competitive personal loan interest rates, starting as low as 7.10% from the Bank of India. Other banks like Canara Bank, Union Bank, and Indian Bank follow closely with rates of 7.15%. Bank of Baroda offers loans at 7.20%, while the State Bank of India sets its rate at 7.25%. These rates apply to loans up to ₹30 lakh (approximately $36,000 USD) and can vary based on the applicant's financial profile. Public sector banks remain a popular choice for borrowers due to their reliable services and government backing. However, potential borrowers are advised to conduct careful comparisons, analyze equated monthly installments (EMIs), and consult with certified financial advisors to make informed borrowing decisions.
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The competitive interest rates on personal loans can significantly ease financial burdens for borrowers, making it easier for them to manage day-to-day expenses.
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