Archive · 10 Oct 2026
October 2026 Personal Loan Rates Vary Across 22 Lenders
A personal loan is money that you borrow and pay back over time.
The article compares rates and fees listed by 22 lenders for October 2026.
The rates range from 8.90% to 30.50% a year.
For a ₹5 lakh loan paid back over five years, the monthly payment depends on the lender and the rate offered.
Some lenders also charge a fee to process the loan application.
The fee may be a fixed amount or a percentage of the loan.
The rate a person receives can depend on their credit score, income, debts, job profile, and loan amount.
So borrowers should compare the full cost, not just the advertised rate.
They should also make sure the monthly payments fit their budget.
Rates listed by 22 lenders range from 8.90% to 30.50% annually, according to data compiled by Paisabazaar.
For a ₹5 lakh loan over five years, listed EMIs range from ₹10,355 to ₹16,177 where lenders provide a range.
Axis Bank and Union Bank of India list starting EMIs of ₹10,355 for that example loan.
Processing fees also vary, from Tata Capital’s flat ₹49 fee to Kotak Mahindra Bank’s fee of up to 5% of the loan amount.
Borrowers are advised to compare the interest rate, EMI, fees, other charges, and their repayment capacity before applying.
- Who
- People considering personal loans and the 22 lenders included in the comparison.
- What
- A comparison of personal loan interest rates, example EMIs, and processing fees.
- When
- Rates and charges are stated as of 7 October 2026, for October 2026.
- Where
- India.
- Why
- To help prospective borrowers compare the overall cost of loans and assess whether repayments fit their circumstances.
- Number of lenders compared
- 22
- Listed annual interest-rate range
- 8.90%–30.50%
- Example loan
- ₹5 lakh over five years
- Lowest example starting EMI
- ₹10,355 per month, listed by Axis Bank and Union Bank of India
- Highest example EMI shown
- ₹16,177 per month, at the upper end of Bajaj Finserv’s range
- Processing-fee examples
- Tata Capital: flat ₹49; Kotak Mahindra Bank: up to 5% of the loan amount
- Data source and date
- Paisabazaar.com; rates and charges as of 7 October 2026