Personal loans are unsecured — rates depend on credit score. CIBIL 750+ unlocks 10-12%, sub-700 pushes you to 16-18%. Most lenders charge 1-3% processing fee.
Personal loan rates typically 10-24%. Processing fee separate.
Rates as of FY 2026-27
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Year-by-Year Breakdown
Principal paidOutstanding balance
Year
Principal
Interest
Balance
1
₹77,645
₹55,822
₹4,22,355
2
₹87,492
₹45,974
₹3,34,862
3
₹98,589
₹34,878
₹2,36,274
4
₹1,11,092
₹22,374
₹1,25,181
5
₹1,25,181
₹8,285
₹0
Total
₹5,00,000
₹1,67,333
—
Formula & SourcePersonal Loan EMI
EMI = P × i × (1+i)^n / ((1+i)^n − 1)
Source: Standard amortizing loan formula
Frequently Asked Questions
Based on credit score (CIBIL), income, employer category. Score above 750 gets best rates.
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