About Personal Loan Rates
Personal loan rates in India range from 10% to 24% depending on the bank, your credit score (CIBIL score), income, employer, and loan amount. Salaried employees at large companies generally get lower rates. A CIBIL score above 750 helps you get the best rates.
Personal loans are unsecured (no collateral needed) which is why rates are higher than home loans or car loans. Processing fees typically range from 1% to 3% of the loan amount. Some banks waive processing fees during promotional periods.