Personal Loans, Decoded: EMI Guides by Amount, Honest Rates by Lender
Personal loans in India run from ₹50,000 to ₹50 lakh at indicative rates of 10%–32% depending on who you are and who's lending. This hub splits the problem the way borrowers actually search it: pick your amount for EMI-and-eligibility math, or your lender for the where-it-wins-where-it-falls-short read.
Figures on this page are indicative and for comparison only — BankCreds is not a lender; confirm current rates, charges and eligibility with the bank or NBFC before applying.
Guides by amount
Each guide runs the full arithmetic for its ticket — EMIs across tenures, the income that clears FOIR, and borrower stories that actually match the amount.
₹1 lakh personal loan
5-yr EMI from ~₹2,174 (@11% indicative)
₹2 lakh personal loan
5-yr EMI from ~₹4,348 (@11% indicative)
₹3 lakh personal loan
5-yr EMI from ~₹6,523 (@11% indicative)
₹5 lakh personal loan
5-yr EMI from ~₹10,871 (@11% indicative)
₹10 lakh personal loan
5-yr EMI from ~₹21,742 (@11% indicative)
₹15 lakh personal loan
5-yr EMI from ~₹32,614 (@11% indicative)
₹20 lakh personal loan
5-yr EMI from ~₹43,485 (@11% indicative)
₹25 lakh personal loan
5-yr EMI from ~₹54,356 (@11% indicative)
₹30 lakh personal loan
5-yr EMI from ~₹65,227 (@11% indicative)
₹40 lakh personal loan
5-yr EMI from ~₹86,970 (@11% indicative)
₹50 lakh personal loan
5-yr EMI from ~₹1,08,712 (@11% indicative)
Rates by lender
Indicative bands and the fine print — pre-approval gates, fee stacks, prepayment rules — written like notes from someone who compared them, because that's what these are.
HDFC Bank
10.25%–21% indicative · private bank
up to ₹40 lakh
State Bank of India
10.05%–15.05% indicative · PSU bank
up to ₹35 lakh (Xpress Credit for salary-package customers)
ICICI Bank
10.6%–16.5% indicative · private bank
up to ₹50 lakh (top profiles)
Axis Bank
10.49%–22% indicative · private bank
up to ₹40 lakh
Kotak Mahindra Bank
10.75%–24% indicative · private bank
up to ₹35 lakh
IDFC FIRST Bank
10.49%–23% indicative · private bank
up to ₹1 crore (stated ceiling; typical sanctions far lower)
IndusInd Bank
10.49%–26% indicative · private bank
up to ₹50 lakh
Federal Bank
11.49%–14.5% indicative · private bank
up to ₹25 lakh
Yes Bank
11.25%–21% indicative · private bank
up to ₹50 lakh
Bajaj Finserv
11%–32% indicative · NBFC
up to ₹55 lakh (stated)
Tata Capital
11.5%–29% indicative · NBFC
up to ₹35 lakh
L&T Finance
11%–24% indicative · NBFC
up to ₹15 lakh
Personal loans — the questions that matter
What personal loan amount can I get on my salary?
Work the FOIR test backwards: lenders cap your total EMIs near 50% of take-home. On ₹50,000 take-home with no other EMIs, that supports roughly ₹11–12 lakh over 5 years at mid-market rates; every existing ₹5,000 EMI trims the ceiling by about ₹2 lakh. Our per-amount guides run this arithmetic for each ticket.
Which bank has the lowest personal loan interest rate?
The honest answer: the bank that already holds your salary account, for you specifically. Published floors (10–11% indicative) belong to prime profiles at their own banks — SBI’s Xpress Credit for its salary customers, HDFC/ICICI pre-approved offers for theirs. Cross-shopping matters less than exhausting your own bank first, then negotiating with one competing letter.
Can I get a personal loan without a CIBIL score?
New-to-credit isn’t no-to-credit: several NBFCs underwrite on bank-statement inflows and price the thin file accordingly. The practical path is one modest loan (₹50,000–1 lakh), repaid flawlessly for 12 months — after which mainstream pricing opens. Anyone “guaranteeing” approval regardless of history, or asking fees upfront, is a fraud signal, not a lender.
Do personal loans have foreclosure charges?
Floating-rate personal loans: none — RBI prohibits foreclosure and prepayment charges on floating-rate loans to individuals. Fixed-rate loans (the majority): typically 2–5% on prepaid amounts, stepping down with age. If early closure is likely, request the floating variant explicitly before sanction.
How fast can a personal loan be disbursed?
Pre-approved offers at your own bank: minutes. Fresh, clean salaried files: 1–3 working days at digital-forward lenders. Self-employed or higher tickets: up to a week with verification. The Key Fact Statement must reach you before acceptance regardless of speed — a lender skipping it to “save time” is telling you something.
Find out who'd actually approve you
Soft credit check, live offers, two minutes — before any lender visit.