In India, the most prominent banks to fund loan in Public sector banks are State Bank of India (SBI) and Maharashtra Bank. Amongst the private sector banks, ICICI, HDFC, IDBI banks are in the competition.

State Bank of India (SBI) and all its collaborators are the oldest and most trusty institutes in India. SBI is the name you can trust, is the tagline they are following from decades. Each and every scheme after being approved by Reserve Bank of India (RBI) is being reflected in SBI first. Hence, SBI bears the responsibility to correctly guide all the following banks in India.

Bank of Maharashtra, even though it appears to be a regional bank, it is a nationalized bank. You would find its branches all over country. But it is most popular in cities of Maharashtra such as Pune, Mumbai, Nagpur, Nasik etc. The public sector banks has a slight lower interest rates, varying in points from other banks, but approval takes a lot of time and efforts since the queue is always in waiting state.

The private sector banks such as ICICI are modern ones, and give a tough competition to PSU terms in terms of providing loans and services. The interest rates for Personal loan vary a little higher, but you get quicker processing and approvals on loans.