New Delhi, June 30 -- With the Reserve Bank of India (RBI) cutting repo rates by 100 bps (1%) since the beginning of 2025, personal loan interest rates have come down. With the latest rate cut of 50 bps (0.5%) by the RBI in June, you can now avail personal loans for 9% interest. But you have to meet the specified eligibility norms to access loans at lower rates. Private sector lenders such as Axis Bank offer personal loans for 9.99% per annum.

Personal loans given by Indian Bank and Bank of Maharashtra are among the cheapest and come with an interest rate of 9%. Here is a guide on banks offering personal loans at lower interest rates and eligibility criteria.

Interest rate: 9%-10.8%

Eligibility: The borrower should have a CIBIL score o...