Private sector banks like HDFC Bank, ICICI Bank, Kotak Mahindra Bank and Axis Bank have raised their interest rates on personal loans over past few months, Economic Times reported. HDFC Bank now charges at least 10.75% interest, while Kotak Mahindra Bank's interest rates starts from 10.99%. Interest rates of ICICI Bank and Axis Bank starts from 10.80% and 10.99% respectively.