How-To
How to Calculate Your Personal Loan EMI (With Formula)
Learn the EMI formula, see a worked example, and understand how loan amount, rate, and tenure each affect your monthly payment.
Jun 15, 20245 min
Expert Knowledge Base
Personal Loan Blog
In-depth guides, lender comparisons, and rate analysis — written by loan experts.
FeaturedGig Economy
Personal Loans for Freelancers and Gig Workers: How to Prove Income Without a Salary Slip
No fixed salary slip? Here's how freelancers, gig workers, and platform-based earners can still qualify for a personal loan in India.
By Priyanka Rao·Jun 22, 20246 min
Read article About Personal Loans in India
Personal loans are unsecured loans offered by banks and NBFCs in India at interest rates ranging from 10.5% to 36% per annum. They require no collateral and can be used for any purpose — medical emergencies, travel, weddings, home renovation, or debt consolidation.
The key factors that determine your personal loan interest rate are your CIBIL credit score, monthly income, employment stability, and existing debt obligations. A CIBIL score above 750 typically qualifies you for the lowest rates (10.5%–12%), while scores between 650–700 attract rates of 15%–22% from specialised NBFCs.