SBI vs ICICI Personal Loan — Which is Better in 2026?
SBI personal loan rate is 11.00% vs ICICI at 10.75%. ICICI is cheaper — you save roughly ₹59/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
SBI
11.00%
Interest rate p.a.
ICICI
10.75%
Interest rate p.a.
✓ Better dealSBI vs ICICI Personal Loan — Detailed Comparison
| Feature | SBI | ICICI |
|---|---|---|
| Interest Rate | 11.00% | ✓10.75% |
| Processing Fee | 1.50% (min ₹1,000) | 2.50% + GST |
| Tenure | 6 months – 6 years | 12 months – 6 years |
| Eligibility | Salaried, 21-56 yrs, min net salary ₹15,000/month | Salaried, 23-58 yrs, min net salary ₹25,000/month |
Interest Rate
SBI
11.00%
ICICI
10.75%
Processing Fee
SBI
1.50% (min ₹1,000)
ICICI
2.50% + GST
Tenure
SBI
6 months – 6 years
ICICI
12 months – 6 years
Eligibility
SBI
Salaried, 21-56 yrs, min net salary ₹15,000/month
ICICI
Salaried, 23-58 yrs, min net salary ₹25,000/month
Verdict
ICICI wins on personal loan rate (10.75%) against SBI (11.00%). 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 SBI vs ICICI EMI for your exact loan amount and tenure
Calculate your EMI →Frequently Asked Questions
Which bank offers cheaper personal loan — SBI or ICICI?+
ICICI offers a lower rate. SBI charges 11.00% p.a. while ICICI charges 10.75% p.a. On a ₹5L loan for 3 years, the cheaper rate saves you roughly ₹59/month.
Does applying for a personal loan at SBI and ICICI 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 SBI?+
SBI typically requires a minimum net monthly salary of Salaried, 21-56 yrs, min net salary ₹15,000/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.