Personal Loan Interest Rate Today
How much can you borrow? Check in 3 steps
Personal loan EMI calculator
Bank or NBFC — which suits you?
- Lower rates for strong credit scores
- Higher amounts, longer tenure
- Best when rate matters most
- Faster approval, flexible eligibility
- Approve thinner credit profiles
- Best for speed or if banks decline
Compare 16 personal loan lenders
Starting rates shown are for the most creditworthy borrowers — your offer depends on your credit score, income and lender. Verify before applying.
About personal loan interest rates
What decides your personal loan rate?
A personal loan is unsecured — there's no gold or property as collateral — so the lender prices the risk using your credit score (a 750+ CIBIL usually gets the best rates), income, employer, and existing loans. That's why the advertised "from 9.99% p.a." is the floor for top profiles; most borrowers are offered a higher rate.
Is a personal loan cheaper than a gold loan?
Usually not. A gold loan is secured against your jewellery, so rates run ≈8–24% p.a. with no income proof, while personal loans run ≈10–31% and need a credit check. If you have gold to pledge and want the lowest cost, a gold loan typically wins; a personal loan is for when you don't want to pledge an asset.
How to lower your EMI
A longer tenure cuts the monthly EMI but raises total interest; a shorter tenure does the opposite. Use the calculator above to balance the two. Also compare the processing fee and any prepayment charges — on a small loan a 3% fee can outweigh a slightly lower rate.
Rates, fees and tenures shown are indicative, collected from lender and aggregator pages and verified 28 Jun 2026. They change frequently and are set by each lender at application — confirm before you apply.
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Rates are indicative and subject to change — verify with the lender before applying. RatesToday is not a SEBI/RBI-registered advisor and this is not financial advice.