Compare lenders, interest rates, processing fees, and eligibility criteria to choose the best personal loan for your needs.
Personal loan interest rates in India typically range from 10% to 24% p.a. depending on your credit profile, income stability, and lender policies. Key fees to check include:
Maintaining a good CIBIL score (750+) and comparing multiple lenders can help secure lower rates and easier approvals.
Use a Personal Loan EMI Calculator before applying to estimate your monthly repayment. This helps you:
Proper EMI planning ensures smooth repayment and avoids financial stress during the loan tenure.
Top lenders include SBI, HDFC, ICICI Bank, Axis Bank, and Bajaj Finserv — offering competitive rates and flexible repayment options.
Rates generally range from 10% to 24% per annum, depending on credit score, income, and tenure.
You can reduce EMI by increasing tenure, making part-prepayments, or choosing a lender with lower interest rates.
Fixed rates offer stable EMIs, while floating rates fluctuate with market trends. Choose based on your risk tolerance and financial flexibility.
Most banks prefer a CIBIL score of 700+ for faster approval and lower interest rates.
Unlike home loans, personal loans generally do not have direct tax benefits, except when used for specific purposes like education or business.