New Delhi, Dec. 1 -- Before you decide to raise a personal loan, it is recommended to compare the interest rates charged by different banks. These rates tend to change from time to time.-

Notably, even a small difference of 50 basis points in interest rates on personal loans can lead to huge savings for investors over a period of time. For instance, a Rs.10 lakh loan for 5 years can lead to savings of Rs.14,711 when the interest is 9.5% (instead of 10%). The savings amount to Rs.29,422 when the loan amount is Rs.20 lakh with all other variables being the same.

Here, we list out the interest rates charged by the top 7 banks in India, including government and private banks.

HDFC Bank: This private bank charges interest in the range of 9....