ICICI vs Canara Personal Loan — Which is Better in 2026?
ICICI personal loan rate is 10.75% vs Canara at 11.50%. ICICI is cheaper — you save roughly ₹178/month on a ₹5L, 3-year loan. Apply with the lower-rate bank first; a hard inquiry from one bank does not affect your CIBIL score significantly.
Last updated: April 6, 2026
ICICI
10.75%
Interest rate p.a.
✓ Better dealCanara
11.50%
Interest rate p.a.
ICICI vs Canara Personal Loan — Detailed Comparison
| Feature | ICICI | Canara |
|---|---|---|
| Interest Rate | ✓10.75% | 11.50% |
| Processing Fee | 2.50% + GST | 1% + GST |
| Tenure | 12 months – 6 years | 12 months – 5 years |
| Eligibility | Salaried, 23-58 yrs, min net salary ₹25,000/month | Salaried/self-employed, 21-60 yrs |
Interest Rate
ICICI
10.75%
Canara
11.50%
Processing Fee
ICICI
2.50% + GST
Canara
1% + GST
Tenure
ICICI
12 months – 6 years
Canara
12 months – 5 years
Eligibility
ICICI
Salaried, 23-58 yrs, min net salary ₹25,000/month
Canara
Salaried/self-employed, 21-60 yrs
Verdict
ICICI wins on personal loan rate (10.75%) against Canara (11.50%). Personal loan rates are highly credit-score-dependent — a CIBIL score above 750 can get you 1-2% lower than the advertised rate. Compare the actual APR (which includes processing fees) rather than just the interest rate before signing.
Calculate Your Exact EMI
Compare ICICI vs Canara EMI for your exact loan amount and tenure
Calculate your EMI →Frequently Asked Questions
Which bank offers cheaper personal loan — ICICI or Canara?+
ICICI offers a lower rate. ICICI charges 10.75% p.a. while Canara charges 11.50% p.a. On a ₹5L loan for 3 years, the cheaper rate saves you roughly ₹178/month.
Does applying for a personal loan at ICICI and Canara simultaneously hurt my CIBIL score?+
Each hard inquiry reduces your CIBIL score by 5-10 points. Apply to one bank first; if rejected, apply elsewhere. Use eligibility checkers (soft inquiries) before applying to avoid multiple hard pulls.
What is the minimum salary required for a personal loan from ICICI?+
ICICI typically requires a minimum net monthly salary of Salaried, 23-58 yrs, min net salary ₹25,000/month. Requirements vary by city and employer category. Employees of PSUs and listed companies often get preferential rates.
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Disclaimer: Interest rates shown are indicative as of April 2026 and subject to change without notice. Actual rates depend on your credit score, income, and bank policy. This is for informational purposes only and does not constitute financial advice. Always verify rates with the bank before applying.