Personal Loan Interest
Rates 29 Nov 2025
From 10.99% p.a.
EIR may vary
Tenure 12–84 mo.
Find the best personal loan interest rate as of 29 Nov 2025 , starting from as low as 9.99% p.a. Compare various personal loan offers and apply online instantly. With numerous banks offering personal loans, it's essential to compare interest rates, which can vary significantly from 9.99% p.a. to 33% p.a. Understanding your options will help you secure the best personal loan that fits your financial needs.
Personal Loan Interest Rates (Indicative)
- Salaried: ~10.99%–24% p.a. • Self-employed: ~12.99%–28% p.a.
- Flexi facility: typically +0.5%–2.0% over regular PL (lender/policy based).
- Depends on: credit score, income/FOIR, city, employer category, tenure.
- Fees: processing 1%–3% + GST; prepayment/foreclosure as per lender policy.
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1+ Million
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Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
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Support team 500+
Team Size of Experts
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Quick approvals: complete files can see same-day decisions.
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Unsecured: no collateral; credit profile drives pricing.
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EMI clarity: compare total cost, fees, and prepayment rules before signing.
Personal Loan Interest Rates: A Comprehensive Guide
Personal loan interest rates are the cost you pay to a lender for borrowing money. They directly impact your EMI and the total cost of your loan.
What is a Personal Loan Interest Rate?
It’s the annual percentage a lender charges on the borrowed amount. Example: ₹1,00,000 at 12% p.a. → yearly interest ₹12,000 (before considering monthly reductions).
Quick math: At 12% p.a., the first month’s notional interest ≈
12%/12 × outstanding principal. As principal reduces, interest each month drops.
Current Range in India (indicative)
| Profile | Typical Range (p.a.) | Notes |
|---|---|---|
| Salaried (good profile) | 10.50% – 24% | Better employer category & high credit score help reduce pricing. |
| Pre-approved (existing customer) | Starting ~10.25% (sometimes lower) | Bank/NBFC may offer special deals to current customers. |
Ranges vary by lender, profile, amount, and tenure.
Top Personal Loan Interest Rates in India:
| Bank/Provider | Interest Rate | Processing Fee | Max Loan Amount | Loan Tenure |
|---|---|---|---|---|
| IDFC First Bank | 10.49% p.a. | 1% - 2% | ₹1 crore | 6 months - 5 years |
| Bajaj Finserv | 11% p.a. | 3.93% | ₹35 lakhs | 1 - 7 years |
| Axis Bank | 10.49% p.a. | 1.5% - 2% | ₹15 lakhs | 1 - 5 years |
| Tata Capital | 10.99% p.a. | 5.5% | ₹35 lakhs | Up to 6 years |
| Fullerton India | 11.99% p.a. | 6% | ₹25 lakhs | 1 - 5 years |
| HDFC Bank | 10.75% p.a. | 2.50% | ₹40 lakhs | 1 - 5 years |
| Kotak Bank | 10.99% p.a. | 3% | ₹25 lakhs | 1 - 5 years |
| ICICI Bank | 10.85% p.a. | 2% | ₹25 lakhs | 1 - 6 years |
| Yes Bank | 10.99% p.a. | 2% | ₹40 lakhs | 1 - 5 years |
| Bank of Maharashtra | 10.00% p.a. | 1% | ₹20 lakhs | 0 - 7 years |
| Federal Bank | 11.49% p.a. | 2.50% | ₹50 lacs | 1 to 5 years |
| Syndicate Bank | 12% p.a. | 0.50% | ₹5 lacs | 1 to 5 years |
| Bank of Baroda | 11.40% p.a. | 2% | ₹15 Lacs | 1 to 7 years |
| PNB | 10.95% p.a. | 1% | upto 20 lacs | 1 to 6 years |
| Yes Bank | 10.99% p.a. | 2% | ₹40 lacs | 1 to 5 years |
| Aditya Birla Capital | 10.99% p.a. | 3% | ₹50 Lacs | 0 to 7 years |
| Paysense | 16.80% p.a. | 2.5% | ₹15 Lacs | 3 Months to 5 years |
| Moneyview | 15.96% p.a. | 2% | ₹10 Lacs | 3 Months to 5 years |
| MoneyTap | 13% p.a. | 2% | upto ₹5 lacs | 2 months to 3 years |
Note: Additional GST charges may apply on the processing fee.
Benefits
- Fast Disbursal: Often within 24–48 hours for strong profiles.
- Minimal Documentation: Especially if you’re an existing customer with KYC/income already on file.
- Competitive Pricing: Risk-based pricing can be lower than fresh loans if your profile is strong.
- Predictable EMIs (Fixed): Stable budgeting when rate stays constant.
- Rate Benefits (Floating): Potential savings when benchmark rates fall.
How to Get the Lowest Personal Loan Interest Rate?
To secure the best personal loan interest rate, follow these steps:
- Improve Your Credit Score: A score above 750 increases the chances of getting a lower personal loan interest rate.
- Timely Repayments: Maintain a good repayment history to avoid higher interest rates.
- Look for Special Offers: Keep an eye out for festive offers where banks offer lower interest rates.
- Compare Personal Loan Interest Rates: Use FinCrif's comparison tool to evaluate different lenders and their rates.
- Negotiate with Lenders: If you have an existing relationship with a lender, request a better rate.
Fixed vs. Floating Personal Loan Interest Rates – Which One is Better?
When choosing between a fixed interest rate and a floating interest rate, it's important to understand the differences:
| Fixed Interest Rate | Floating Interest Rate |
|---|---|
| The rate stays constant | The rate fluctuates with the market |
| EMI remains consistent | EMI can change during the loan period |
| Prepayment fees may apply | Usually, no prepayment fees |
Fixed interest rates are best for borrowers who prefer stability and predictable payments. On the other hand, floating interest rates benefit those who are comfortable with fluctuating EMIs and want to take advantage of lower rates when available.
What is Meant by Reducing Interest Rate with Regard to Personal Loans?
A reducing interest rate means that the interest is calculated only on the outstanding loan amount. As you make monthly repayments, the interest for the remainder of the loan tenure is recalculated based on the reduced principal. This contrasts with a flat interest rate, where interest is calculated on the entire loan amount for the whole loan period.
Things to Consider When Choosing a Loan with a Low Interest Rate:
- Processing Fee: Compare the processing fees across lenders as they can add to the total loan cost.
- Pre-Closure Charges: Check for any penalties in case you wish to prepay your loan before the tenure ends.
- Customer Service: Opt for lenders with good customer support to ensure a smooth borrowing experience.
- Eligibility Criteria: Verify that you meet the income, age, and other eligibility criteria set by the lender.
- Loan Disbursal Time: In emergencies, consider lenders known for quick loan disbursals.
- Other Charges: Compare other fees like pre-payment, default, cancellation, and bounce charges before applying.
- Discounts: Look out for offers on interest rates during festive seasons or for existing customers.
Factors That Influence Your Personal Loan Interest Rate:
- Credit Score: A higher credit score usually results in a lower interest rate.
- Income: A stable and high income reduces the risk for lenders, allowing for lower rates.
- Employer Reputation: Working for a reputed organization may help you secure a better interest rate.
- Loan Amount & Tenure: Shorter loan tenures may attract lower interest rates.
Personal Loan EMI Calculator
FinCrif's Personal Loan EMI Calculator helps you calculate your monthly EMIs with ease. Simply enter your loan amount, tenure, and interest rate to estimate your repayment.
The formula to calculate your EMI is:
EMI = [P × R × (1+R)^N] / [(1+R)^N - 1]Where:
- P is the loan amount,
- R is the monthly interest rate, and
- N is the number of EMIs.
Tips for Choosing the Best Personal Loan
- Processing Fees: Always check the processing fees, as they can increase the overall cost of the loan.
- Prepayment Options: Look for lenders that allow prepayment without hefty penalties.
- Customer Service: Choose a lender with a reputation for responsive customer support.
- Loan Disbursal Time: If you need a loan urgently, check the lender's disbursal time.
Calculate Your EMI Instantly
A Multi-Purpose Loan EMI Calculator helps you estimate your monthly repayment amount before applying for a loan. Whether it’s for education, travel, wedding, home renovation, or business needs—know your EMI and plan smarter.
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Years
% p.a.
Monthly Payable
0 / month
Principal
Interest
Total Payable
Repayment Schedule
| Month-Year | EMI | Interest | Principal | Balance |
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Personal Loan Interest Rates — FAQ
Updated: 29 Nov 2025. Rates depend on lender, profile, city, and bureau history.
Q1. What is the normal personal loan interest rate in 29 Nov 2025?
Most banks/NBFCs offer **10%–24% p.a. (reducing balance)**.
Salaried prime profiles get lower rates; risky/thin-file profiles get higher bands.
Q2. Why do rates vary so much between lenders?
Rates depend on CIBIL score, income, employer category, city, job stability,
existing EMIs, DPD history, and loan amount/tenure.
Higher risk = higher rate.
Q3. Are personal loans fixed rate or reducing balance?
Nearly all PLs in India use **reducing balance** (interest recalculated on outstanding principal after each EMI).
Avoid flat-rate loans—they appear cheaper but cost more overall.
Q4. Which charges increase the effective cost (APR)?
APR includes interest +
• Processing fee (0.5%–3%)
• Insurance (optional)
• Stamp duty (state-wise)
• Late fees + DPD penalties
• Pre-closure / part-payment charges
• GST on applicable charges
Q5. How can I reduce the interest rate on a personal loan?
Improve CIBIL score (>750), reduce DTI, choose shorter tenure,
clean banking (no bounces), maintain job stability, and compare **pre-approved lender offers**.
Q6. Does a balance transfer help save interest?
Yes—if the new lender's APR + processing fee is still lower and enough tenure remains.
Check lock-in and foreclosure rules before switching.
Q7. What is the interest calculation for Flexi/OD personal loans?
Interest applies **only on the utilised amount**, usually on a **daily reducing basis**.
EMIs may be interest-only initially—cost depends on usage behaviour.
Q8. Do foreclosure/part-payment rules affect the final cost?
Yes. Most NBFCs allow closure after **6–12 EMIs** with a small fee.
If you plan early closure, include these charges when comparing total costs.
Q9. How is EMI calculated on reducing balance?
EMI =
where P = principal, r = monthly rate, n = number of months. This ensures EMI remains constant while principal reduces each month.
P × r × (1+r)^n / ((1+r)^n − 1)where P = principal, r = monthly rate, n = number of months. This ensures EMI remains constant while principal reduces each month.
Compare the best Personal loan offers
IDFC First Bank
Interest Rate Range
starting at 9.99%
starting at 9.99%
Processing Fee
1%
1%
Max Loan Amount
₹ 1 cr
₹ 1 cr
Tenure Range
6 month to 5 year
6 month to 5 year
Incred
Interest Rate Range
13.99%
13.99%
Processing Fee
0-1%
0-1%
Max Loan Amount
₹ 15 lacs
₹ 15 lacs
Tenure Range
1 to 5 years
1 to 5 years
Bajaj Finserv
Interest Rate Range
Starting from 10.25% onwards
Starting from 10.25% onwards
Processing Fee
Starting from 0.5% upto 3.93%
Starting from 0.5% upto 3.93%
Max Loan Amount
upto 55 lakhs
upto 55 lakhs
Tenure Range
Upto 8 Years
Upto 8 Years
Axis Bank
Interest Rate Range
10.49%
10.49%
Processing Fee
0-1%
0-1%
Max Loan Amount
₹ 15 Lacs
₹ 15 Lacs
Tenure Range
1 to 5 years
1 to 5 years
TATA FLY
Interest Rate Range
18%
18%
Processing Fee
1% to 3%
1% to 3%
Max Loan Amount
₹25,00,000
₹25,00,000
Tenure Range
1 to 6 year
1 to 6 year
Tata Capital
Interest Rate Range
10.99%
10.99%
Processing Fee
0-1%
0-1%
Max Loan Amount
₹ 35 lacs
₹ 35 lacs
Tenure Range
upto 6 Years
upto 6 Years
Bajaj Growth Location
Interest Rate Range
NA
NA
Processing Fee
NA
NA
Max Loan Amount
NA
NA
Tenure Range
NA
NA
HDFC Bank
Interest Rate Range
10.75%
10.75%
Processing Fee
2.50%
2.50%
Max Loan Amount
₹ 40 Lakhs
₹ 40 Lakhs
Tenure Range
1 to 5 years
1 to 5 years
Fibe
Interest Rate Range
18%
18%
Processing Fee
2%
2%
Max Loan Amount
5 Lakh
5 Lakh
Tenure Range
6 to 36 months
6 to 36 months
SMFG India Credit
Interest Rate Range
13% onwards
13% onwards
Processing Fee
Up to 5% of the total loan amount + GST
Up to 5% of the total loan amount + GST
Max Loan Amount
Up to INR 30 Lakh*
Up to INR 30 Lakh*
Tenure Range
12 to 60 months
12 to 60 months
Bajaj SOL
Interest Rate Range
13% onwards
13% onwards
Processing Fee
0-4%
0-4%
Max Loan Amount
upto 25Lakhs
upto 25Lakhs
Tenure Range
upto 60 months
upto 60 months
Poonawalla Fincorp
Interest Rate Range
10.25%
10.25%
Processing Fee
3
3
Max Loan Amount
50 Lakhs
50 Lakhs
Tenure Range
upto 7 years
upto 7 years
Bajaj Prime Location
Interest Rate Range
NA
NA
Processing Fee
NA
NA
Max Loan Amount
NA
NA
Tenure Range
NA
NA
Axis Finance
Interest Rate Range
13.0%
13.0%
Processing Fee
0-1%
0-1%
Max Loan Amount
₹ 15 lacs
₹ 15 lacs
Tenure Range
0 to 3 years
0 to 3 years
Bandhan Bank
Interest Rate Range
10.50%
10.50%
Processing Fee
5.5%
5.5%
Max Loan Amount
₹ 35 lacs
₹ 35 lacs
Tenure Range
1 to 5 year
1 to 5 year
Finnable
Interest Rate Range
12%
12%
Processing Fee
0-1%
0-1%
Max Loan Amount
₹ 10 Lacs
₹ 10 Lacs
Tenure Range
Upto 5 years
Upto 5 years
FairCent
Interest Rate Range
9.99%
9.99%
Processing Fee
0-3%
0-3%
Max Loan Amount
₹ 10 lacs
₹ 10 lacs
Tenure Range
6 months to 3 years
6 months to 3 years
Upwards
Interest Rate Range
18%
18%
Processing Fee
0-2%
0-2%
Max Loan Amount
₹ 3 Lacs
₹ 3 Lacs
Tenure Range
1 to 5 years
1 to 5 years
Moneyview
Interest Rate Range
15.96%
15.96%
Processing Fee
2%
2%
Max Loan Amount
₹ 10 Lacs
₹ 10 Lacs
Tenure Range
1 to 5 years
1 to 5 years
IIFL
Interest Rate Range
12.75%
12.75%
Processing Fee
0-3%
0-3%
Max Loan Amount
₹ 1 lacs to 25 lacs
₹ 1 lacs to 25 lacs
Tenure Range
1 to 5 years
1 to 5 years
IndusInd Bank
Interest Rate Range
10.49%
10.49%
Processing Fee
0-2%
0-2%
Max Loan Amount
₹ 3 Lacs to 75 Lacs
₹ 3 Lacs to 75 Lacs
Tenure Range
1 to 50 years
1 to 50 years
Kotak Bank
Interest Rate Range
10.99%
10.99%
Processing Fee
0-2%
0-2%
Max Loan Amount
₹ 30 Lacs
₹ 30 Lacs
Tenure Range
1 to 5 years
1 to 5 years
ICICI Bank
Interest Rate Range
10.25%
10.25%
Processing Fee
0-1%
0-1%
Max Loan Amount
₹ 50 Lacs
₹ 50 Lacs
Tenure Range
1 to 6 years
1 to 6 years
RBL Bank
Interest Rate Range
18%
18%
Processing Fee
0-2%
0-2%
Max Loan Amount
₹ 20 lacs
₹ 20 lacs
Tenure Range
1 to 5 years
1 to 5 years
HDB Financial
Interest Rate Range
10% - 35%
10% - 35%
Processing Fee
0-3%
0-3%
Max Loan Amount
upto ₹ 20 lacs
upto ₹ 20 lacs
Tenure Range
1 to 5 years
1 to 5 years
Karur Vysya Bank
Interest Rate Range
11.15%
11.15%
Processing Fee
0.50%
0.50%
Max Loan Amount
upto ₹ 75 lacs
upto ₹ 75 lacs
Tenure Range
1 to 6 years
1 to 6 years
Union Bank of India
Interest Rate Range
11.35%
11.35%
Processing Fee
1.0%
1.0%
Max Loan Amount
upto 15 lacs
upto 15 lacs
Tenure Range
1 to 5 years
1 to 5 years
Canara Bank
Interest Rate Range
10.95%
10.95%
Processing Fee
0.50%
0.50%
Max Loan Amount
upto ₹ 10 lacs
upto ₹ 10 lacs
Tenure Range
0 to 7 years
0 to 7 years
Federal Bank
Interest Rate Range
11.49%
11.49%
Processing Fee
2.50%
2.50%
Max Loan Amount
₹ 50 lacs
₹ 50 lacs
Tenure Range
1 to 5 years
1 to 5 years
Yes Bank
Interest Rate Range
10.99%
10.99%
Processing Fee
2%
2%
Max Loan Amount
₹ 40 lacs
₹ 40 lacs
Tenure Range
1 to 5 years
1 to 5 years
Aditya Birla Capital
Interest Rate Range
10.99%
10.99%
Processing Fee
2%
2%
Max Loan Amount
₹ 50 Lacs
₹ 50 Lacs
Tenure Range
0 to 7 years
0 to 7 years
