Personal Loan in India: Interest Rates, Eligibility & EMI

Compare top personal loan offers, check eligibility, and estimate your EMIs easily with our smart tools.

Interest Rates & Fees

Personal loan interest rates depend on the borrower's profile, credit score, income stability, and lender. Always check for processing fees, foreclosure charges, and other hidden costs before applying.

-Eligibility Criteria

- Plan Your EMI

Use the EMI Calculator to test different loan tenures and interest rates to plan your repayment comfortably.

Frequently Asked Questions (Personal Loan in India)

FAQs

What is the current interest rate for personal loans in India?

Personal loan interest rates in India typically range from 10% to 24% per annum, depending on your credit score, income, and bank policies.

Who is eligible for a personal loan?

Most banks require applicants to be Indian residents aged 21–60 with a stable income and a good credit score (usually above 700).

What documents are needed to apply for a personal loan?

You'll need KYC documents (Aadhaar, PAN), income proof (salary slips or ITR), and bank statements for the last 6 months.

How can I calculate my EMI before applying?

Use the free EMI Calculator to estimate your monthly repayment. Adjust the loan amount, tenure, and interest rate to plan your budget better.

Does applying for multiple personal loans affect my CIBIL score?

Yes. Multiple loan applications create 'hard inquiries' that can temporarily lower your credit score. Apply only when necessary.

Can I prepay or foreclose my personal loan?

Yes, most banks allow prepayment after 6–12 months, but they may charge a small foreclosure fee (usually 2–5% of the remaining amount).