Calculate your personal loan EMI and total repayment amount. Compare different loan amounts and tenures to plan your finances better.
Monthly EMI
₹16,847
Total Interest
₹1.06 L
Total Payment
₹6.06 L
Tenure
36 months
Principal vs Interest
Personalised EMI for ₹5.0L over 36 months. Rates as of May 2026.
| Bank / NBFC | Interest Rate | Your EMIat starting rate | Monthly Savings | |
|---|---|---|---|---|
AXS Axis Bank BESTLowest starting rate | 8.75%p.a. | ₹15,842/month | + ₹528/mo₹18,994 total | Apply |
HDF HDFC Bankup to 24% | 9.99%p.a. | ₹16,131/month | + ₹238/mo₹8,572 total | Apply |
ICI ICICI Bankup to 22% | 9.99%p.a. | ₹16,131/month | + ₹238/mo₹8,572 total | Apply |
SBI State Bank of IndiaIndia's largest bank | 10.00%p.a. | ₹16,134/month | + ₹236/mo₹8,488 total | Apply |
IND IndusInd Bankup to 26% | 10.49%p.a. | ₹16,249/month | + ₹120/mo₹4,338 total | Apply |
KMB Kotak Mahindra Bankup to 36% | 10.99%p.a. | ₹16,367/month | + ₹2/mo₹85 total | Apply |
TAT Tata Capitalup to 35% | 10.99%p.a. | ₹16,367/month | + ₹2/mo₹85 total | Apply |
BAJ Bajaj Financeup to 35% | 11.00%p.a. | ₹16,369/month | Lowest Rate 🏆 | Apply |
Rates shown are indicative starting rates (best-case, salaried applicants). Actual rate depends on credit score & eligibility. Affiliate links — we may earn a commission at no cost to you.
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The rate you get depends on your CIBIL score, income, employer category and existing relationship with the lender. The rates below are indicative starting rates for salaried employees with 750+ CIBIL scores. Use this as a benchmark when comparing loan offers.
| Lender | Starting Rate (p.a.) | Processing Fee | Max Tenure | Disbursal Time |
|---|---|---|---|---|
| SBI Xpress Credit | 10.30% | 1% + GST | 6 years | 2–3 days |
| HDFC Bank | 10.50% | Up to 2.5% | 5 years | Same day (existing) |
| ICICI Bank | 10.80% | Up to 2.25% | 6 years | 1–2 days |
| Axis Bank | 10.49% | Up to 2% | 5 years | 1–3 days |
| Kotak Mahindra | 10.99% | Up to 3% | 5 years | 2–4 days |
| Bajaj Finserv | 13.00% | Up to 3.93% | 7 years | Instant–2 days |
| Tata Capital | 10.99% | Up to 3% | 6 years | 2–3 days |
| KreditBee / Fintech | 18–30%+ | Up to 4% | 3 years | Minutes |
Rates are indicative as of 2025 and subject to change. Final rate depends on applicant profile. Always compare the APR (Annual Percentage Rate) — which includes processing fees — not just the headline interest rate.
Even a 2–3% difference in interest rate can save ₹10,000–₹20,000 over a 3-year loan. Always negotiate or compare before accepting the first offer.
| Rate (p.a.) | EMI — 1 Year | EMI — 3 Years | EMI — 5 Years | Total Interest (3 yr) |
|---|---|---|---|---|
| 10.5% | ₹44,042 | ₹16,230 | ₹10,747 | ₹84,280 |
| 12% | ₹44,424 | ₹16,607 | ₹11,122 | ₹97,852 |
| 14% | ₹44,898 | ₹17,091 | ₹11,634 | ₹1,15,276 |
| 16% | ₹45,377 | ₹17,583 | ₹12,158 | ₹1,32,988 |
| 18% | ₹45,861 | ₹18,084 | ₹12,694 | ₹1,51,024 |
| 24% | ₹47,378 | ₹19,611 | ₹14,330 | ₹2,05,996 |
Loan amount: ₹5,00,000. The difference between 10.5% and 24% for a 3-year loan is ₹1.22 lakh in extra interest — nearly 25% of the principal amount. A good CIBIL score (750+) is the single biggest factor in getting the lowest rate.
✓ Choose Personal Loan When
✗ Avoid Personal Loan When
Personal loans are fully unsecured — no property, gold or vehicle is pledged. This makes them flexible but expensive at 10.5–24% p.a. vs 8–9.5% for home loans. Always compare the APR including processing fees (typically 1–3%), not just the headline interest rate. A ₹5L personal loan at 15% for 3 years costs ₹1.24L in total interest.
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Personal loan rates in India range from 10.5% to 24%+ depending on lender, credit score and income. Banks like SBI and HDFC offer 10.5–15%, while fintech lenders may go higher.
Instant personal loans from fintech apps (KreditBee, MoneyTap) can be disbursed in minutes. Bank personal loans typically take 1–7 working days for existing customers.
Personal loan typically has lower interest (11–15%) vs credit card EMI (24–36% equivalent). Personal loan is better for large amounts; credit card EMI suits smaller purchases if your card has a 0% EMI offer.
Personal loan rates in India range from 9.99% to 24% depending on lender, CIBIL score and income. Banks like SBI (11%), HDFC (10.5%) and ICICI (10.8%) offer lower rates to existing customers with 750+ CIBIL scores. NBFCs like Bajaj Finserv and MoneyView charge 13-20% for faster disbursals. Always compare the APR including processing fees, not just the stated rate.
CIBIL below 700: most banks will reject or charge 18-24%. Better alternatives: (1) Loan against FD or PPF at 1-2% above the FD rate. (2) Gold loan at 7-14%. (3) Loan against insurance policy. (4) Employer advance scheme. Building your credit score before taking a personal loan saves significant interest cost over the loan tenure.
Balance transfer converts high-interest personal loan debt to a lower-rate loan from a new lender. Example: Rs 3L personal loan at 18% transferred to 12% saves Rs 18,000/year in interest. Processing fees for balance transfer are typically 1-2% of the loan amount. Worth doing when the rate difference exceeds 4-5% and there are no large foreclosure charges from the current lender.
Generally no. Personal loans cost 10-18% p.a. While markets can return more in bull years, you are taking market risk with borrowed money. If the market falls 20%, you still owe the full loan at 15% interest. For most investors, borrowing to invest creates financial stress that leads to panic selling at market bottoms - exactly the wrong outcome.
Foreclosure (prepayment in full) charges range from 0–4% of the outstanding balance, usually applicable only within the first 6–12 months. After that, many lenders waive it. Part-prepayment (paying extra lump sums) often has lower or no charges. RBI guidelines prevent banks from charging foreclosure fees on floating-rate personal loans. Always negotiate zero-foreclosure terms when taking the loan — it costs nothing upfront and saves significantly if you prepay early.
Calculate how much interest and time you save by making a lumpsum prepayment on your existing loan.
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