Calculate EMI and total cost for personal loans from SBI, HDFC, ICICI, Axis, and other Indian banks.
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| Processing Fee | — |
| Total Interest | — |
| Total Payable | — |
| Effective APR | — |
Personal loans in India are unsecured loans with rates typically between 10.5-24% depending on your credit score, income, and employer. Salaried employees at MNCs or PSUs get lower rates. CIBIL score above 750 significantly improves your chances and rate.
Q: What CIBIL score is needed for a personal loan?
A: A CIBIL score of 750 or above is considered good and qualifies for the best personal loan rates. Below 650 may result in rejection or very high interest rates.
Q: Can I foreclose a personal loan?
A: Yes. Most banks allow foreclosure after 6-12 EMIs with a prepayment penalty of 2-5% of outstanding balance. Some banks (like HDFC) have NIL prepayment charges after 12 months.
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