Personal Loan in India
A personal loan is an unsecured borrowing option you can use for weddings, medical bills, travel, home repairs, or debt consolidation. On this hub you'll find plain-English guides, eligibility checklists, real bank rates, and calculators to help you plan repayment.
Last updated: 15 June 2025
Guides & explainers
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When a personal loan makes sense
A personal loan is a good fit when the expense is time-bound and you can comfortably absorb an EMI without stretching your budget. It is not a good fit for long-horizon spending (like buying property) or for recurring lifestyle expenses.
Because it is unsecured, the interest rate is typically higher than a secured loan such as a home loan or a loan against securities. Rates today start around 10.5% for salaried borrowers with strong credit scores.
Typical loan size and tenure in India
| Parameter | Typical range |
|---|---|
| Loan amount | ₹50,000 to ₹40 lakh |
| Tenure | 12 to 60 months |
| Interest rate | 10.5% to 24% p.a. |
| Processing fee | 0.5% to 2.5% |