What is the interest rate for personal loans in India?

Personal loan interest rates in India range from 10.5% to 24% per annum. Top banks offer: SBI 11–15%, HDFC 10.5–24%, ICICI 10.65–16%, Axis Bank 10.49–22%. Rates depend on credit score, income, and employment.

What is the EMI for a ₹5 lakh personal loan?

For a ₹5 lakh personal loan at 12% for 3 years, monthly EMI is approximately ₹16,607. At 15% for 3 years, EMI is ₹17,333.

Personal Loan EMI Calculator – Calculate Monthly EMI

Personal Loan EMI — What You Should Know

Personal loans have higher interest rates than home or car loans because they are unsecured (no collateral). Rates vary from 10.5% to 24% depending on your credit score, income, and the lender. Always compare rates before applying.

Personal Loan Interest Rates 2025

SBI: 11.00% – 14.00% p.a.
HDFC Bank: 10.50% – 24.00% p.a.
ICICI Bank: 10.65% – 16.00% p.a.
Axis Bank: 10.49% – 22.00% p.a.
Bajaj Finance: 11.00% – 35.00% p.a.

Frequently Asked Questions

What is the maximum personal loan amount I can get?

Most banks offer personal loans from ₹50,000 to ₹40 lakh. The amount depends on your monthly income, existing obligations, and credit score. Typically, you can get up to 20–25× your monthly salary.

How to get a lower interest rate on a personal loan?

Maintain a credit score above 750, apply with your existing bank where you have salary account, compare offers from multiple lenders, and avoid applying at too many places simultaneously as it reduces your score.

What is the EMI for ₹1 lakh personal loan?

At 12% for 1 year: ₹8,885/month. At 12% for 2 years: ₹4,707/month. At 15% for 2 years: ₹4,849/month.

Also try: Home Loan EMI · Car Loan EMI · Compare Loans