Instant Approval
TATA Capital PERSONAL LOAN
TATA CAPITAL
Check Eligibility, Get Instant Approval in 2 minutes and Disbursal in 3 Hrs*
Interest Rate Range
10.99% - 29.00%
Processing Fee
Upto 3.00%
Max Loan Amount
Upto Rs.35L
Tenure Range
Upto 6 Years
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Personal Loan Interest Rates on 07 Oct 2024

Find the best personal loan interest rate 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.

  • Minimal documentation
  • Starting ROI 10.25%* Onwards
  • Flexible tenure up to 5 years
  • Max Loan Amount 40L - 1 Cr
Customers Rating
❤️ Trusted by 12,00,000+ Happy Customers
1+ Million

Happy Customers

Rs. 250+ crore

Monthly Personal Loans Disbursal

Wide Range of 60+

Partner Banks & NBFCs

Support team 700+

Team Size of Experts

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.

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 x R x (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.
Get Pre-Approved for a Personal Loan

FinCrif offers pre-approved personal loan options based on your credit profile. Compare personal loan interest rates from leading banks, and apply online to get instant approval.

FAQ - Personal Loan Interest Rates Frequently Asked Questions

Personal loan interest rates start as low as 9.99% p.a. Rates vary based on the borrower's credit score, income, and lender-specific criteria.

A high credit score (typically over 750) signals to lenders that you are a responsible borrower. This lowers your risk and increases the likelihood of receiving a lower personal loan interest rate.

Yes, if you have a good relationship with your bank or lender, you can negotiate a lower personal loan interest rate, especially if you have a high credit score and stable income.

A fixed interest rate remains constant throughout the loan tenure, while a floating interest rate fluctuates based on market conditions.

A higher income lowers the lender’s risk, increasing your chances of getting a lower personal loan interest rate. Lenders view higher-income individuals as more likely to repay on time.

Use FinCrif’s Personal Loan EMI Calculator to estimate your monthly repayments. Enter the loan amount, interest rate, and tenure to get your EMI instantly.

Yes, many lenders offer preferential rates to existing customers with a good repayment history. It’s worth inquiring with your current bank.

While it’s possible to get a personal loan with a low credit score, it’s likely to come with a higher personal loan interest rate. Adding a co-applicant or guarantor can help improve your chances.

The processing fee is a one-time charge levied by lenders, usually between 1% to 4% of the loan amount. This fee varies from lender to lender.

If you prefer consistent EMIs, a fixed interest rate is better. However, if you can handle fluctuating rates for potential cost savings, a floating rate may suit you.