Personal loan News

In 2025, banks are offering personal loans at interest rates ranging from 9.50 per cent to 16.65 per cent, with processing fees between 0.5 per cent and 3.5 per cent. Borrowers should compare rates and charges before applying.  

Personal Loan Interest Rate: A personal loan is an unsecured loan offered by banks and financial institutions for various personal expenses. It requires no collateral and is granted based on income, credit score, and repayment capacity. These funds can be required for any reason, whether it is medical treatment, renovation of the house, planning for future education or a holiday. When taking a personal loan, consider factors like interest rate, loan tenure, EMI affordability, credit score, processing fees, prepayment charges, and lender credibility.   

Aadhaar Card Loan: Many financial institutions and fintech platforms now offer personal loans through Aadhaar-based e-KYC verification, allowing quick access to funds for emergencies, education, or personal needs. 

'Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans' --FAQs you need to check.

The Reserve Bank of India has imposed a 15-day requirement for lenders to update credit bureau records starting January 1, 2025.

Ahead Of the Raksha Bandhan, many people look for ways to fund their celebrations and big purchases. So, there could be an increase in demand for personal loans. India's leading banks are offering personal loans at discounted interest to borrowers with a good credit score and waive off processing charges. Consumers who are applying for personal loans for travelling and shop during the festive season can look at the leading banks of India.  Here are the banks offering the lowest interest rates on a Rs 5-lakh personal loan, helping you find the most cost-effective borrowing options during this special time of year.  

How can one be monsoon ready w.r.t their finances? Expert shares these 4 tips.

A Jammu and Kashmir cop has alleged that HDFC bank has refused to give him a personal loan because he was from the law enforcement agency.

Smaller loans with ticket size of Rs 10,000- Rs 50,000 seems to have sparked a certain amount of concern for the Reserve Bank Of India. We explain.

To initiate the loan application, customers will need to provide basic details such as PAN (Permanent Account Number), date of birth, and work details.

Shaikh Hassan Khan works in the Finance department at the State Secretariat and hails from Pandalam in Pathanamthitta district.

Canara Bank also added that existing borrowers of the Bank shall have an option to switch over to interest rates linked to MCLR other than Fixed Rate Loans.

Google will want a copy of the app's license if the Reserve Bank of India has registered it as a loan provider.

Recent data from the Reserve Bank of India shows an increased reliance on personal loans, resulting in an uptick in credit growth in January 2023. According to RBI’s data, retail loans have increased by 20.4% since last year. Even consumption loans grew by 25.6% year-on-year, with financial institutions making it extremely simple to obtain quick loans through mobile applications.

If you are planning to take a Personal Loan or a home loan, you must get your CIBIL score checked. CIBIL score principally highlights your financial picture and helps lending institutes to assess the capability of repayment.  

The loan repayment tenure is 5 years. The interest rate is 9 per cent. You can take up to Rs 5 lakh.

A credit score less than 624 is considered as bad score Lenders often hesitate in funding people with low creditworthiness However, NBFCs may help people with low borrowing power get a loan

A personal loan provided to the borrower without any collateral or security. Overdraft Limit is also a type of personal loan with different features. Banks also offer loan on credit cards.

The need for money is something that increases with every passing day. Here comes a loan app for your assistance. But the question is, how to choose the best loan app in India?