Key facts: ICICI Bank vs Kotak Mahindra Bank vs Punjab National Bank personal loan
- Starting rate: ICICI Bank 9.99%, Kotak Mahindra Bank 10.99%, Punjab National Bank 11.25%. This is the lowest rate each loan provider advertises for a personal loan, not the rate everyone is offered.
- Gap between starting rates: 1.26 percentage points between the lowest and the highest.
- Maximum tenure: ICICI Bank 7 years, Kotak Mahindra Bank 6 years, Punjab National Bank 6 years.
- Type of loan provider: ICICI Bank is a private bank; Kotak Mahindra Bank is a private bank; Punjab National Bank is a public sector bank. Banks and NBFCs price floating rates differently.
- Official websites: icici.bank.in, kotak.bank.in, pnb.bank.in.
- Pages checked: 5 official pages opened for this loan type.
- Loan types with a published rate: ICICI Bank 6, Kotak Mahindra Bank 2, Punjab National Bank 5 (out of 8 we track).
- EMI on ₹5 lakh over 5 years: ICICI Bank ₹10,621, Kotak Mahindra Bank ₹10,869, Punjab National Bank ₹10,934 a month, at each starting rate.
- Total interest on the same loan: ICICI Bank ₹1,37,264, Kotak Mahindra Bank ₹1,52,123, Punjab National Bank ₹1,56,019.
- 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.
Pick ICICI Bank if you want
- The lowest published starting rate (9.99%)
- The longest maximum tenure (7 years)
- The most complete published terms for this loan (5 of 5 details)
Where Kotak Mahindra 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.
Where Punjab National 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.
ICICI Bank vs Kotak Mahindra Bank vs Punjab National Bank personal loan: rate, fees and tenure
Starting personal loan rates as published: ICICI Bank from 9.99%, Kotak Mahindra Bank from 10.99% and Punjab National Bank from 11.25%. ICICI Bank is 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 | ICICI Bank | Kotak Mahindra Bank | Punjab National Bank |
|---|---|---|---|
| Published rate | Starts at 9.99% p.a. | Starts at 10.99% p.a. | 11.25% p.a. (Pre-Approved Personal Loan and PNB Swaagat), effective 10.02.2025 per revised retail rates notice |
| Rate basis | fixed; varies by loan amount, profile, employment type, relationship | fixed | Not published |
| Loan amount | Rs 50,000 to Rs 50,00,000 | Up to ₹1 crore | Salaried up to 24x gross monthly salary capped Rs 20 lakh |
| Maximum tenure | 84 months (min 12 months) | Up to 6 years | Salaried 72 EMIs (defence 60); self-employed 60 EMIs or age 65 |
| Processing fee | Up to 2% of loan amount + applicable taxes | Up to 5% of final loan amount + taxes, non-refundable | Not published |
| Prepayment / foreclosure | Foreclosure allowed after 1 EMI; no foreclosure charges after 24 EMIs, charges may apply before per service charges | 4% + taxes on outstanding principal/part-payment up to 3 years; 2% + taxes after 3 years | Nil |
| Eligibility (as published) | Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred | Not published | Salaried: confirmed govt/PSU/reputed institution employees with 2 yrs service, salary via PNB account |
| Other terms published |
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| Official source | icici.bank.in/personal-banking/loans/personal-loan | kotak.bank.in/en/personal-banking/loans/personal-loan.html kotak.bank.in/en/personal-banking/loans/personal-loan/fees-and-charges.html | pnb.bank.in/personalloanforpublic.html pnb.bank.in/downloadprocess.aspx |
EMI illustration: ₹5 lakh over 5 years
| Loan provider | Rate used | Monthly EMI | Total interest | Total repayable |
|---|---|---|---|---|
| ICICI Bank | 9.99% | ₹10,621 | ₹1,37,264 | ₹6,37,264 |
| Kotak Mahindra Bank | 10.99% | ₹10,869 | ₹1,52,123 | ₹6,52,123 |
| Punjab National Bank | 11.25% | ₹10,934 | ₹1,56,019 | ₹6,56,019 |
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
ICICI Bank vs Kotak Mahindra Bank vs Punjab National 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 | ICICI Bank (9.99%) | Kotak Mahindra Bank (10.99%) | Punjab National Bank (11.25%) |
|---|---|---|---|
| ₹1 lakh | ₹2,124 | ₹2,174 | ₹2,187 |
| ₹3 lakh | ₹6,373 | ₹6,521 | ₹6,560 |
| ₹5 lakh | ₹10,621 | ₹10,869 | ₹10,934 |
| ₹10 lakh | ₹21,242 | ₹21,737 | ₹21,867 |
| ₹20 lakh | ₹42,484 | ₹43,475 | ₹43,735 |
By tenure, on ₹5 lakh
| Tenure | ICICI Bank (9.99%) | Kotak Mahindra Bank (10.99%) | Punjab National Bank (11.25%) |
|---|---|---|---|
| 1 year | ₹43,956 interest ₹27,467 | ₹44,188 interest ₹30,262 | ₹44,249 interest ₹30,990 |
| 2 years | ₹23,070 interest ₹53,684 | ₹23,302 interest ₹59,238 | ₹23,362 interest ₹60,688 |
| 3 years | ₹16,131 interest ₹80,725 | ₹16,367 interest ₹89,212 | ₹16,429 interest ₹91,430 |
| 5 years | ₹10,621 interest ₹1,37,264 | ₹10,869 interest ₹1,52,123 | ₹10,934 interest ₹1,56,019 |
| 7 years | ₹8,298 interest ₹1,97,033 | Above its stated maximum | 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
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.
Kotak Mahindra Bank
Private bank · Kotak Mahindra Bank Limited
- How the rate is set: fixed
- Unsecured, no collateral
- Minimal documentation
- Digital KYC via Aadhaar-based video verification
- Pre-approved loans for existing customers with good credit history
Punjab National Bank
Public sector bank · Punjab National Bank
- Eligibility as published: Salaried: confirmed govt/PSU/reputed institution employees with 2 yrs service, salary via PNB account
- No margin required
- No prepayment charges
- Security: suitable third-party guarantee
- Wide range of personal needs
Before you apply for a personal loan
- Fixed or floating: Most personal loans carry a fixed rate. If yours is fixed, ask what the foreclosure charge is before you borrow.
- 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.
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.
- ICICI Bank: icici.bank.in/personal-banking/loans/personal-loan
- Kotak Mahindra Bank: kotak.bank.in/en/personal-banking/loans/personal-loan.html kotak.bank.in/en/personal-banking/loans/personal-loan/fees-and-charge...
- Punjab National Bank: pnb.bank.in/personalloanforpublic.html pnb.bank.in/downloadprocess.aspx?fid=E2re2I3i3yXux5sfy5umlw%3D%3D
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More personal loan comparisons
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Frequently asked questions
Which is better for a personal loan: ICICI Bank, Kotak Mahindra Bank or Punjab National Bank?
ICICI Bank has the lowest published starting personal loan rate at 9.99%, against 10.99% at Kotak Mahindra Bank and 11.25% at Punjab National Bank. On ₹5 lakh over 5 years the difference in total interest is ₹18,755. 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: ICICI Bank, Kotak Mahindra Bank or Punjab National Bank?
ICICI Bank has the lowest published starting personal loan rate at 9.99%, against 10.99% at Kotak Mahindra Bank and 11.25% at Punjab National Bank. The rate you are offered depends on your credit profile, income and loan amount.
What is the personal loan processing fee at ICICI Bank, Kotak Mahindra Bank and Punjab National Bank?
ICICI Bank: Up to 2% of loan amount + applicable taxes. Kotak Mahindra Bank: Up to 5% of final loan amount + taxes, non-refundable. Punjab National Bank: not published. Fees can change, so confirm the amount in rupees, with GST, before you accept.
What is the maximum personal loan tenure at ICICI Bank, Kotak Mahindra Bank and Punjab National Bank?
ICICI Bank: 84 months (min 12 months). Kotak Mahindra Bank: Up to 6 years. Punjab National Bank: Salaried 72 EMIs (defence 60); self-employed 60 EMIs or age 65. A longer tenure lowers the EMI and raises the total interest.
Can I prepay or foreclose a personal loan early at ICICI Bank, Kotak Mahindra Bank and Punjab National Bank?
ICICI Bank: Foreclosure allowed after 1 EMI; no foreclosure charges after 24 EMIs, charges may apply before per service charges. Kotak Mahindra Bank: 4% + taxes on outstanding principal/part-payment up to 3 years; 2% + taxes after 3 years. Punjab National Bank: Nil. 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 ICICI Bank, Kotak Mahindra Bank and Punjab National Bank?
Over 5 years at each loan provider's lowest published rate the monthly EMI is ₹10,621 at ICICI Bank, ₹10,869 at Kotak Mahindra Bank and ₹10,934 at Punjab National Bank. This leaves out processing fees, GST and insurance, and your approved rate may be higher.
Who is eligible for a personal loan at ICICI Bank, Kotak Mahindra Bank and Punjab National Bank?
ICICI Bank: Salaried age 18-58 (FAQ: 20-58), min income Rs 30,000/month; self-employed 23+; CIBIL 750+ preferred. Kotak Mahindra Bank: not published. Punjab National Bank: Salaried: confirmed govt/PSU/reputed institution employees with 2 yrs service, salary via PNB account. Each loan provider can ask for more documents once you apply.
Are ICICI Bank, Kotak Mahindra Bank and Punjab National Bank regulated by the RBI?
Yes. ICICI Bank is a private bank, Kotak Mahindra Bank is a private bank, Punjab National Bank is a public sector 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 ICICI Bank, Kotak Mahindra Bank and Punjab National 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.