Personal loan, April 1 -- If you are planning to raise apersonal loan from a bank or a non banking financial institutional (NBFC), it is vital to compare the interest rates charged by different institutions. Typicallyunsecured loans are given at fixed rates of interest. This means when a loan is taken at 11 percent interest rate, it will remain at that during the loan's tenure regardless of any changes in the market rates.

However, when the interest rate is floating, it is mandatory for the bank to give an option to the borrower toswitch from floating to fixed interest at the time of resetting interest rate on personal loans, as per an RBI circular.

Here we list out the interest rates charged by top private and public sector banks

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