Key facts: Federal Bank vs ICICI Bank vs IDFC FIRST Bank personal loan
- Starting rate: Federal Bank 11.75%, ICICI Bank 9.99%, IDFC FIRST Bank 9.99%. This is the lowest rate each loan provider advertises for a personal loan, not the rate everyone is offered.
- Gap between starting rates: 1.76 percentage points between the lowest and the highest.
- Top of the published range: Federal Bank up to 18.99%.
- Maximum tenure: Federal Bank 5 years, ICICI Bank 7 years, IDFC FIRST Bank 5 years.
- Type of loan provider: Federal Bank is a private bank; ICICI Bank is a private bank; IDFC FIRST Bank is a private bank. Banks and NBFCs price floating rates differently.
- Official websites: federal.bank.in, icici.bank.in, idfcfirstbank.com.
- Pages checked: 4 official pages opened for this loan type.
- Loan types with a published rate: Federal Bank 7, ICICI Bank 6, IDFC FIRST Bank 6 (out of 8 we track).
- EMI on ₹5 lakh over 5 years: Federal Bank ₹11,059, ICICI Bank ₹10,621, IDFC FIRST Bank ₹10,621 a month, at each starting rate.
- Total interest on the same loan: Federal Bank ₹1,63,550, ICICI Bank ₹1,37,264, IDFC FIRST Bank ₹1,37,264.
- Last checked: 12 October 2026, on each loan provider's own website.
Who each loan provider suits on a personal loan
Built only from figures the loan providers publish. It says where each one is ahead on paper, not who will approve you.
Where Federal Bank stands
No clear edge on the published figures we could compare for a personal loan. Check the table below and the Key Fact Statement.
Pick ICICI Bank if you want
- A joint-lowest published starting rate (9.99%)
- The longest maximum tenure (7 years)
Pick IDFC FIRST Bank if you want
- A joint-lowest published starting rate (9.99%)
Federal Bank vs ICICI Bank vs IDFC FIRST Bank personal loan: rate, fees and tenure
Starting personal loan rates as published: Federal Bank from 11.75%, ICICI Bank from 9.99% and IDFC FIRST Bank from 9.99%. ICICI Bank and IDFC FIRST Bank are lower at the starting rate, but the top of each range and your own credit profile decide what you are offered. ICICI Bank lists the longer maximum tenure (84 months (min 12 months)).
| Detail | Federal Bank | ICICI Bank | IDFC FIRST Bank |
|---|---|---|---|
| Published rate | 11.75% to 18.99% p.a. | Starts at 9.99% p.a. | Starts at 9.99% p.a. |
| Rate basis | fixed | fixed; varies by loan amount, profile, employment type, relationship | Reducing balance |
| Loan amount | Not published | Rs 50,000 to Rs 50,00,000 | ₹50,000 to ₹15 lakh |
| Maximum tenure | 60 months | 84 months (min 12 months) | 60 months (min 9 months) |
| Processing fee | Not published | Up to 2% of loan amount + applicable taxes | 0% to 3.5% of loan amount (incl. GST) |
| Prepayment / foreclosure | Part or full prepayment allowed; charges not stated on page | Foreclosure allowed after 1 EMI; no foreclosure charges after 24 EMIs, charges may apply before per service charges | Zero foreclosure charges |
| Eligibility (as published) | Age 21 to 55 years; monthly net salary Rs.25,000 and above | Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred | Age 21-60; CIBIL 710 or above; salaried or self-employed |
| Other terms published |
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|
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| Official source | federal.bank.in/personal-loans federal.bank.in/loan-rate | icici.bank.in/personal-banking/loans/personal-loan | idfcfirst.bank.in/personal-banking/loans/personal-loan |
EMI illustration: ₹5 lakh over 5 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| Federal Bank | 11.75% | ₹11,059 | ₹1,63,550 | ₹6,63,550 |
| ICICI Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
| IDFC FIRST Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
Illustration only, at each loan provider's lowest published rate. It leaves out processing fees, GST, insurance and any other charges, and it is not an offer. Your approved rate may be higher.
Read the full guide: Personal loan
Federal Bank vs ICICI Bank vs IDFC FIRST Bank personal loan EMI by amount and tenure
Monthly EMI at each loan provider's lowest published rate, on a reducing balance. Fees, GST and insurance are not included, and your offered rate may be higher.
By loan amount, over 5 years
| Loan amount | Federal Bank (11.75%) | ICICI Bank (9.99%) | IDFC FIRST Bank (9.99%) |
|---|---|---|---|
| ₹1 lakh | ₹2,212 | ₹2,124 | ₹2,124 |
| ₹3 lakh | ₹6,635 | ₹6,373 | ₹6,373 |
| ₹5 lakh | ₹11,059 | ₹10,621 | ₹10,621 |
| ₹10 lakh | ₹22,118 | ₹21,242 | ₹21,242 |
| ₹20 lakh | ₹44,237 | ₹42,484 | ₹42,484 |
By tenure, on ₹5 lakh
| Tenure | Federal Bank (11.75%) | ICICI Bank (9.99%) | IDFC FIRST Bank (9.99%) |
|---|---|---|---|
| 1 year | ₹44,366 interest ₹32,391 | ₹43,956 interest ₹27,467 | ₹43,956 interest ₹27,467 |
| 2 years | ₹23,478 interest ₹63,482 | ₹23,070 interest ₹53,684 | ₹23,070 interest ₹53,684 |
| 3 years | ₹16,548 interest ₹95,711 | ₹16,131 interest ₹80,725 | ₹16,131 interest ₹80,725 |
| 5 years | ₹11,059 interest ₹1,63,550 | ₹10,621 interest ₹1,37,264 | ₹10,621 interest ₹1,37,264 |
| 7 years | Above its stated maximum | ₹8,298 interest ₹1,97,033 | Above its stated maximum |
A longer tenure lowers the EMI and raises the total interest. Pick the shortest tenure your monthly budget can carry.
What each loan provider publishes about its personal loan
Federal Bank
Private bank · The Federal Bank Limited
- How the rate is set: fixed
- Eligibility as published: Age 21 to 55 years; monthly net salary Rs.25,000 and above
- Quick approvals with minimal documentation
- Repayment tenure of up to 60 months
- Flexible EMI payment options
- No restrictions on end use
ICICI Bank
Private bank · ICICI Bank Limited
- How the rate is set: fixed; varies by loan amount, profile, employment type, relationship
- Eligibility as published: Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred
- No foreclosure charges after 24 EMIs
- Tenure up to 84 months
- No collateral required
- Fixed rates from 9.99% p.a.
IDFC FIRST Bank
Private bank · IDFC FIRST Bank Limited
- How the rate is set: Reducing balance
- Eligibility as published: Age 21-60; CIBIL 710 or above; salaried or self-employed
- Zero foreclosure charges
- Tenure 9 to 60 months
- Disbursal in as little as 10 minutes after approval
- Multiple on-demand loans within approved offer
Before you apply for a personal loan
- Credit score: Your score decides where you land between the starting rate and the top of the range. A lower score can push the offer well above the advertised rate.
- Insurance and add-ons: Loan insurance and other bundled products are usually optional. Ask for them to be removed if you do not want them.
- Total repayable amount: Compare the APR and the total you will repay, both shown in the Key Fact Statement, not only the monthly EMI.
- Existing EMIs: Loan providers look at how much of your monthly income already goes to EMIs. Closing a small loan first can improve the offer.
RBI requires every loan provider to hand you a Key Fact Statement before you sign. It shows the rate, every fee, the APR and the total you will repay.
Terms used on this page
Plain meanings of the terms this comparison uses.
Starting rate: The lowest rate a loan provider advertises for a product. Most borrowers are offered a higher rate, because the final rate depends on credit score, income, employer and loan amount.
APR: Annual percentage rate. It adds the processing fee and other charges to the interest rate, so it shows the yearly cost of the loan better than the interest rate alone.
Key Fact Statement: A short summary the loan provider gives you before you sign. It lists the interest rate, every fee, the APR and the total amount you will repay. RBI requires it for retail loans.
Floating rate and repo rate: A floating rate moves with a benchmark, and for banks that is usually the RBI repo rate, the rate at which RBI lends to banks. A fixed rate stays the same for the period you agree.
Processing fee: A one-time charge for handling the application. It is usually a percentage of the loan amount plus GST, and it is often deducted before the money reaches you.
Credit score: A number from 300 to 900 that shows how you have repaid past loans and cards. A higher score usually gets you a lower rate.
Sources and last check
Every figure above is read from the loan provider's own website and was checked on 12 October 2026. A blank means the page does not show that figure, and we never estimate one.
- Federal Bank: federal.bank.in/personal-loans federal.bank.in/loan-rate
- ICICI Bank: icici.bank.in/personal-banking/loans/personal-loan
- IDFC FIRST Bank: idfcfirst.bank.in/personal-banking/loans/personal-loan
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More personal loan comparisons
Federal Bank vs ICICI Bank vs IDFC FIRST Bank: every loan type on one page · All personal loan comparisons · Personal loan guide · Personal loan EMI calculator
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Frequently asked questions
Which is better for a personal loan: Federal Bank, ICICI Bank or IDFC FIRST Bank?
ICICI Bank and IDFC FIRST Bank share the lowest published starting personal loan rate at 9.99%, against 11.75% at Federal Bank. On ₹5 lakh over 5 years the difference in total interest is ₹26,286. Rate is only one part of the cost, so also compare the processing fee, the prepayment terms and the total repayable amount in the Key Fact Statement.
Which has the lower personal loan interest rate: Federal Bank, ICICI Bank or IDFC FIRST Bank?
ICICI Bank and IDFC FIRST Bank share the lowest published starting personal loan rate at 9.99%, against 11.75% at Federal Bank. The published ranges run to Federal Bank up to 18.99%, so the rate you are offered can sit well above the starting rate.
What is the personal loan processing fee at Federal Bank, ICICI Bank and IDFC FIRST Bank?
Federal Bank: not published. ICICI Bank: Up to 2% of loan amount + applicable taxes. IDFC FIRST Bank: 0% to 3.5% of loan amount (incl. GST). Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum personal loan tenure at Federal Bank, ICICI Bank and IDFC FIRST Bank?
Federal Bank: 60 months. ICICI Bank: 84 months (min 12 months). IDFC FIRST Bank: 60 months (min 9 months). A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose a personal loan early at Federal Bank, ICICI Bank and IDFC FIRST Bank?
Federal Bank: Part or full prepayment allowed; charges not stated on page. ICICI Bank: Foreclosure allowed after 1 EMI; no foreclosure charges after 24 EMIs, charges may apply before per service charges. IDFC FIRST Bank: Zero foreclosure charges. Ask whether the rate on your loan is fixed or floating, because the charges depend on it.
What is the EMI on a ₹5 lakh personal loan at Federal Bank, ICICI Bank and IDFC FIRST Bank?
Over 5 years at each loan provider's lowest published rate the monthly EMI is ₹11,059 at Federal Bank, ₹10,621 at ICICI Bank and ₹10,621 at IDFC FIRST Bank. This leaves out processing fees, GST and insurance, and your approved rate may be higher.
Who is eligible for a personal loan at Federal Bank, ICICI Bank and IDFC FIRST Bank?
Federal Bank: Age 21 to 55 years; monthly net salary Rs.25,000 and above. ICICI Bank: Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred. IDFC FIRST Bank: Age 21-60; CIBIL 710 or above; salaried or self-employed. Each loan provider can ask for more documents once you apply.
Are Federal Bank, ICICI Bank and IDFC FIRST Bank regulated by the RBI?
Yes. Federal Bank is a private bank, ICICI Bank is a private bank, IDFC FIRST Bank is a private bank, and all lend under RBI rules, including the requirement to give you a Key Fact Statement before you sign.
Where do these personal loan figures come from?
From the official pages of Federal Bank, ICICI Bank and IDFC FIRST Bank, opened and checked on 12 October 2026. The sources are listed at the bottom of this page. We show a blank where a loan provider does not publish a figure, and we do not estimate one.
KhatuLoans is not a loan provider and is not paid by the loan providers named here to rank them. Rates, fees and eligibility change; always confirm with the loan provider. Read our editorial policy and how we make money.