Loan Types
Calculator
FAQs
Video
Personal loan interest rates starting from 10% p.a.
You may be eligible for a pre-approved offer
Enter mobile and OTP | Check offer | Know your rates and charges
Latest personal loan interest rate and charges
The Bajaj Finance Personal Loan interest rate ranges from 10% to 30.5% p.a., effective from October 2026. Check the rate offered to you along with the repayment tenure and applicable charges to understand the total borrowing cost before accepting the loan. Interest rates may be fixed or floating depending on the loan terms and eligibility.
| Type of fee | Applicable charges |
| Rate of interest per annum | 10% to 30.5% per annum. |
| Processing fees | Up to 4.13% (Inclusive of applicable taxes) of the loan amount. |
| Flexi Facility Charge | Term Loan – Not applicable Flexi Loans –Up to Rs 1,999 to Rs 18,999/- (Inclusive Of Applicable Taxes) Will be deducted upfront from loan amount. |
| Bounce charges | Rs. 700 to Rs. 1,200/- per bounce “Bounce charges” shall mean charges for (i) dishonor of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonor of payment mandate or non-registration of the payment mandate or any other reason. |
| Pre-payment charges | Full Pre-payment:
Part Pre-payment
|
| Penal charge | Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
| Stamp duty (as per respective state) | Payable as per state laws and deducted upfront from loan amount. |
| Annual maintenance charges | Term Loan: Not applicable Flexi Dropline Loan: Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges. Flexi Hybrid Loan: Up to 0.472% (Inclusive Of Applicable Taxes) Of The Dropline Limit During Initial Tenure. Up to 0.295% (Inclusive Of Applicable Taxes) Of Dropline Limit during Subsequent Tenure |
| Credit guarantee scheme fee | Up to 1.18% p.a. (pro-rated daily till 31st March) (inclusive of all applicable taxes) of the loan amount |
| Credit guarantee scheme renewal fee | Up to 1.18% p.a. (inclusive of all applicable taxes) on the outstanding loan amount as on April 01 of the subsequent Financial Year. *Renewal Fee to be collected only for 3 subsequent financial years. **If the Remaining Tenure is less than 12 months, the CG Fee in subsequent years shall be charged prorated. |
Note: Additional cess if any, will be applicable to all charges according to state law.
*Terms and conditions apply.
What is the personal loan interest rate?
A personal loan interest rate is the annual percentage charged on the amount you borrow. Bajaj Finance determines the rate offered to you based on factors such as your CIBIL Score, income, employment profile, loan amount and repayment tenure.
Your interest rate influences the interest component of each EMI and the total cost of borrowing over the loan tenure. Understanding how the rate affects your repayments helps you compare different loan options and assess the overall cost before committing to a loan.
The key interest rate and loan terms for a Bajaj Finance Personal Loan are:
| Feature | Details |
|---|---|
| Interest rate | 10% to 30.5% p.a. |
| Conditions | Fixed or floating, depending on loan terms and eligibility |
| Loan amount | Rs. Rs. 40,000 to Rs. Rs. 55 lakh |
| Repayment tenure | 12 months to 108 months |
Important Note: A difference of just 1–2% in interest rate can save you thousands over your loan tenure. Comparing rates from different loan offers is crucial to finding the most favourable terms for a personal loan, minimising overall borrowing costs. You can calculate the interest on personal loan with our interest calculator.
How to calculate interest on a personal loan?
A personal loan’s interest can be calculated using a Personal Loan EMI Calculator or by applying the EMI formula manually. While both methods help estimate the total interest payable, an online calculator is quicker, more accurate, and eliminates manual errors.
Method 1: Using the personal loan EMI calculator
Use the personal loan EMI calculator to accurately estimate your monthly EMI, total interest payable, and overall repayment amount before choosing a loan amount and tenure.
Follow these simple steps:
- Enter the required loan amount.
- Select the applicable interest rate.
- Choose the repayment tenure.
- The calculator instantly displays your EMI, total interest payable, and total repayment amount.
Method 2: Manual calculation
Work out the EMI with the formula, then derive the total interest from that EMI.
Step 1: Use the EMI formula
EMI = [P × R × (1 + R)^N] ÷ [(1 + R)^N − 1], where P is the loan amount, R is the monthly interest rate and N is the number of monthly instalments.
Step 2: Practical example
| Detail | Value |
| Principal loan amount (P) | Rs. 1,00,000 |
| Annual interest rate | 10% p.a. |
| Monthly interest rate (R) | 10 ÷ 12 ÷ 100 = 0.0083333 |
| Number of instalments (N) | 12 |
| Monthly EMI | Rs. 8,792 (Rs. 8,791.59 before rounding) |
Step 3: Calculate total interest
- Total repayment over 12 months: Rs. 8,791.59 × 12 = Rs. 1,05,499
- Total interest paid: Rs. 1,05,499 − Rs. 1,00,000 = Rs. 5,499
This calculation is illustrative, at 10% p.a. Last reviewed: October 2026.
Must avoid: Working out interest as rate × amount × years. On Rs. 1 lakh at 10% p.a. for 12 months, that flat method gives Rs. 10,000, while the reducing-balance interest is Rs. 5,499.
What factors affect your personal loan interest rate?
The interest rate Bajaj Finance may offer depends on your financial profile. Six factors decide how close you get to the lowest personal loan interest rate, and you can work on your CIBIL Score and existing EMIs before you apply.
| Factor | How it can move your rate |
| CIBIL Score | A higher score supports a lower rate, and 650 is the minimum |
| Income | A higher, steady salary supports a lower rate |
| Existing EMIs | Keeping total EMIs within 50% to 60% of net monthly income supports a better offer |
| Employer | Listed-company and government employees may be eligible for rate offers |
| Relationship with Bajaj Finance | A good repayment record can lead to a rate offer |
| Loan amount and tenure | Larger amounts or longer tenures can change your rate |
A CIBIL Score falls into one of four bands, and each band signals something different to a lender:
| Credit rating | CIBIL Score | What it signals to the lender |
| Excellent | 800 to 900 | A long record of on-time repayment |
| Good | 750 to 799 | A strong repayment record |
| Average | 650 to 749 | Meets the minimum score for a Bajaj Finance Personal Loan |
| Poor | Below 650 | Below the minimum score for a Bajaj Finance Personal Loan |
Fixed vs floating: which rate does Bajaj Finance charge?
A fixed interest rate remains unchanged throughout the loan tenure, while a floating rate can change with market conditions. The rate type determines how predictable your EMI will be and whether changes in interest rates can affect your repayments. When comparing a low interest personal loan, check the rate type stated in your loan agreement, rather than relying on the starting rate alone.
| Feature | Fixed rate | Floating rate |
|---|---|---|
| EMI | Generally remains unchanged | Can rise or fall with the market |
| Budgeting | Easier to plan monthly repayments | Requires room for possible changes |
| When rates rise | Your agreed rate remains unchanged | Your borrowing cost may increase |
| When rates fall | Your agreed rate remains unchanged | Your borrowing cost may decrease |
| Suitable for | Borrowers who value predictable repayments | Borrowers comfortable with rate changes |
With a fixed rate, the EMI amount stays the same throughout the tenure, although the portions going towards interest and principal change as the outstanding balance decreases.
How much does the interest rate really change your cost?
The interest rate affects both how much you pay each month and how much interest accumulates over the loan tenure. A higher rate increases your EMI and total interest, while a lower rate reduces both, even when the loan amount and repayment period remain unchanged.
For example, on a ₹5 lakh personal loan repaid over 36 months, comparing different rates shows how much these costs can vary.
| Interest rate | Monthly EMI | Total interest (3 yrs) | Total repayment |
| 10% p.a. | ≈ ₹16,134 | ≈ ₹80,809 | ≈ ₹5,80,809 |
| 12% p.a. | ≈ ₹16,607 | ≈ ₹97,858 | ≈ ₹5,97,858 |
| 16% p.a. | ≈ ₹17,579 | ≈ ₹1,32,827 | ≈ ₹6,32,827 |
Extending the tenure from 36 to 60 months reduces the monthly EMI by approximately ₹5,510 but increases the total interest payable by ₹56,602.
| Loan amount | Interest rate | Tenure | Monthly EMI | Total interest | Total repayment |
|---|---|---|---|---|---|
| ₹5,00,000 | 10% p.a. | 36 months | ₹16,134 | ₹80,809 | ₹5,80,809 |
| ₹5,00,000 | 10% p.a. | 60 months | ₹10,624 | ₹1,37,411 | ₹6,37,411 |
These figures are illustrative, for a Rs. 5 lakh loan over 36 months. Your rate depends on your profile. Last reviewed: October 2026.
How to get a low interest personal loan?
Getting a more favourable rate starts with understanding what lenders consider when evaluating a personal loan application. The aim is to improve your borrowing prospects while ensuring the loan remains affordable over its full tenure.
- Build your CIBIL Score: Pay every EMI and card bill on time, and dispute any error in your credit report.
- Lower your existing EMIs: Clearing a small loan or card balance frees income for the new EMI.
- Check for a pre-approved offer: Existing Bajaj Finance customers can check their loan offer with their mobile number and OTP.
- Choose the amount and tenure with care: Both can change your rate, and a shorter tenure cuts total interest.
- Compare offers on APR: The annual percentage rate (APR) adds the processing fee and other charges to the rate.
If your profile has improved since you took a higher-rate loan elsewhere, a personal loan balance transfer can move that loan's balance to a lower rate, subject to eligibility.
Personal Loan EMI Table by Loan Amount and Tenure
Find your loan amount in the first column for its maximum processing fee and its EMI for each tenure at an illustrative 10% p.a. A higher rate raises every EMI.
Table 1: 12 to 36 months
| Loan amount | Processing fee (up to 4.13%) | 12 months | 24 months | 36 months |
| Rs. 40,000 | Rs. 1,652 | Rs. 3,517 | Rs. 1,846 | Rs. 1,291 |
| Rs. 1 lakh | Rs. 4,130 | Rs. 8,792 | Rs. 4,614 | Rs. 3,227 |
| Rs. 2 lakh | Rs. 8,260 | Rs. 17,583 | Rs. 9,229 | Rs. 6,453 |
| Rs. 5 lakh | Rs. 20,650 | Rs. 43,958 | Rs. 23,072 | Rs. 16,134 |
| Rs. 10 lakh | Rs. 41,300 | Rs. 87,916 | Rs. 46,145 | Rs. 32,267 |
| Rs. 15 lakh | Rs. 61,950 | Rs. 1,31,874 | Rs. 69,217 | Rs. 48,401 |
| Rs. 25 lakh | Rs. 1,03,250 | Rs. 2,19,790 | Rs. 1,15,362 | Rs. 80,668 |
| Rs. 40 lakh | Rs. 1,65,200 | Rs. 3,51,664 | Rs. 1,84,580 | Rs. 1,29,069 |
| Rs. 55 lakh | Rs. 2,27,150 | Rs. 4,83,537 | Rs. 2,53,797 | Rs. 1,77,470 |
Table 2: 60 to 108 months
| Loan amount | 60 months | 84 months | 96 months | 108 months |
| Rs. 40,000 | Rs. 850 | Rs. 664 | Rs. 607 | Rs. 563 |
| Rs. 1 lakh | Rs. 2,125 | Rs. 1,660 | Rs. 1,517 | Rs. 1,408 |
| Rs. 2 lakh | Rs. 4,249 | Rs. 3,320 | Rs. 3,035 | Rs. 2,816 |
| Rs. 5 lakh | Rs. 10,624 | Rs. 8,301 | Rs. 7,587 | Rs. 7,039 |
| Rs. 10 lakh | Rs. 21,247 | Rs. 16,601 | Rs. 15,174 | Rs. 14,079 |
| Rs. 15 lakh | Rs. 31,871 | Rs. 24,902 | Rs. 22,761 | Rs. 21,118 |
| Rs. 25 lakh | Rs. 53,118 | Rs. 41,503 | Rs. 37,935 | Rs. 35,197 |
| Rs. 40 lakh | Rs. 84,988 | Rs. 66,405 | Rs. 60,697 | Rs. 56,315 |
| Rs. 55 lakh | Rs. 1,16,859 | Rs. 91,307 | Rs. 83,458 | Rs. 77,433 |
EMI values are indicative, calculated at 10% p.a., and can differ with your final loan terms. The processing fee is shown at its maximum, inclusive of applicable taxes. Last reviewed: 14th October 2026.
Interest rate vs APR: what is the real cost?
When evaluating personal loan offers, consider the applicable interest rate, APR and associated charges disclosed to you. Reviewing these details alongside the repayment terms can help you compare the cost of borrowing. The actual cost will depend on the terms applicable to your loan.
| Factor | Interest rate | APR |
|---|---|---|
| What it covers | Interest charged on the loan | Interest and applicable fees and charges included in the APR calculation |
| Cost comparison | Shows the rate at which interest is charged | Provides a broader view of borrowing costs |
| Best used for | Understanding the loan’s interest rate | Comparing loan offers on a more consistent basis |
Why it matters: Two personal loans with the same advertised interest rate may have different borrowing costs because their processing fees and other applicable charges differ. Reviewing the APR alongside the loan amount, tenure, fees and repayment terms can help you make a more informed comparison. Check the lender’s disclosed APR and applicable charges before accepting an offer, as the actual cost depends on the terms of your loan.
How to apply for a personal loan
Step-by-step guide to apply for a personal loan:
- Check loan eligibility – Visit our personal loan page, enter the loan amount you need, select the repayment period, and click on "CHECK LOAN OFFER" to check your loan eligibility.
- Enter personal details – Provide your personal, financial, and employment details to receive a personalised loan offer.
- Review your loan offer – Check your offer details and adjust the loan amount or repayment tenure, if required.
- Complete KYC verification – Verify your identity and bank details to proceed with your application.
- Speak to a loan specialist – Once your application is submitted, an executive will contact you with the next steps.
Explore personal loan options by city, budget and salary
Before you apply, you can see how a Bajaj Finance Personal Loan works in your city, at the amount you need or for your monthly salary.
Get personal loan near your location
| Personal Loan in Mumbai | Personal Loan in Delhi | Personal Loan in Bangalore | Personal Loan in Hyderabad |
| Personal Loan in Chennai | Personal Loan in Pune | Personal Loan in Kolkata | Personal Loan in Ahmedabad |
Get personal loan for different budgets
| ₹50,000 Personal Loan | ₹1 Lakh Personal Loan | ₹2 Lakhs Personal Loan | ₹3 Lakhs Personal Loan |
| ₹5 Lakhs Personal Loan | ₹10 Lakhs Personal Loan | ₹15 Lakhs Personal Loan | ₹20 Lakhs Personal Loan |
Salary-wise personal loan
Key offerings: 3 loan types
Not your nearest branch?
Frequently asked questions
Overview
Application
Fees and charges
Interest Rate
Debt impact
You can improve your chances of getting the best personal loan interest rate in India by maintaining a strong CIBIL score, having a stable income, and demonstrating a good repayment history. Bajaj Finance Personal Loan interest rates start from 10% p.a. for eligible applicants.
Interest on a personal loan used for personal expenses is not tax-deductible. If you use the loan for your business, or to buy, build or repair a house, the interest may qualify for a deduction. This falls under the Income-tax Act, 2025, subject to its conditions and limits. Check with a tax adviser.
Income is a primary determinant of loan interest rates because lenders use it to assess repayment capacity and credit risk. A higher, stable income indicates lower default risk, which may result in lower interest rates, while lower income relative to existing debt can lead to higher rates or even loan rejection.
It depends on the interest-rate terms. A Bajaj Finance Personal Loan with a fixed interest rate retains that rate throughout the tenure. For a floating-rate loan, the rate can change according to the applicable benchmark and loan agreement.
Bajaj Finance Personal Loan interest rates range from 10% and 30.5% p.a., effective October 2026, depending on your credit profile, income, repayment capacity and loan type. The applicable rate may vary from one borrower to another.
To get a personal loan with low interest, maintain a high CIBIL score, ensure a stable income, and keep your existing debts low. Choosing a trusted lender can also improve your chances of securing better loan terms. Just enter your phone number and OTP to check if you are eligible for Bajaj Finance Personal Loan.
Choose a shorter tenure, make part-prepayments when you have surplus funds, or consider a balance transfer if eligible. Term Loan part-prepayment charges can be up to 4.72% of the amount prepaid, while full-prepayment charges can be up to 4.72% of the outstanding amount. Compare the potential interest savings with these charges before deciding.
Bajaj Finance's stated eligibility criteria require a CIBIL Score of 650 or higher. A score below 650 does not meet this requirement. Improving your credit score and maintaining timely repayments can strengthen your credit profile before you apply, but approval and the interest rate are not guaranteed.
Choosing between a fixed interest rate and a floating interest rate depends on individual preferences and financial situations. If you value stability and predictability, a fixed interest rate is ideal. However, if you can handle fluctuations and want the potential benefit of lower rates, a floating interest rate may be more suitable.
On a reducing balance, interest is calculated on the principal outstanding after accounting for repayments. The interest component generally decreases as the outstanding principal falls. A flat-rate method calculates interest on the original principal throughout the tenure. Confirm the applicable method in the official loan terms.
Part-prepayment means paying a portion of your outstanding principal before the scheduled due date. Full prepayment clears the entire outstanding loan before the tenure ends. Charges and eligibility depend on your loan type and applicable terms. Check your loan agreement for the relevant conditions.
A bounce charge applies when an EMI payment fails, such as when a payment instrument is dishonoured or a repayment mandate is not registered. The supplied fee details state a charge of 3.50% to 3.50% per occurrence.
Stamp duty is a state government levy on the loan agreement. On a Bajaj Finance Personal Loan, it is payable as per the laws of your state and is deducted upfront from the loan amount.
The processing fee is up to 4.13% of the loan amount, inclusive of applicable taxes, according to the supplied fee details. The fee is deducted before disbursal. Check your loan offer and Key Facts Statement for the applicable fee and final disbursal amount.
Foreclosure, or full prepayment, charges depend on the loan type and applicable terms. The supplied fee details state a charge of up to 4.72% for Term Loans after the lock-in period and up to 4.72% of the dropline limit for Flexi Loans.
Existing Bajaj Finance customers may receive personalised or pre-approved interest-rate offers based on the lender’s assessment and prevailing policies. The rate remains subject to your credit profile and eligibility.
The repo rate is the rate at which the Reserve Bank of India (RBI) lends to banks. A change moves lenders' borrowing costs and can move rates on new loans. An existing fixed-rate Bajaj Finance Personal Loan keeps its rate, while the rate on an existing floating-rate loan can change.
Personal loan interest is generally calculated according to the applicable interest rate and repayment schedule, with the interest component included in each monthly EMI. The exact calculation depends on the lender’s terms.
The annual percentage rate (APR) is the yearly cost of a loan, including the processing fee and other charges. A fee raises the APR more on a shorter tenure.
Your interest rate depends on Bajaj Finance’s assessment of your credit profile, income and repayment history. Review any personalised or pre-approved offer available through official channels to understand the rate offered. Do not assume that a lower rate can be negotiated or guaranteed.
Consumer credit ratings directly affect loan interest rates because they indicate your creditworthiness and repayment history. Higher credit ratings generally qualify borrowers for lower interest rates, while lower ratings may result in higher rates or stricter lending terms.
A higher CIBIL Score indicates a stronger credit repayment history and may improve your chances of receiving a competitive rate within the 10% to 30.5% p.a. range. A lower score can result in a higher rate or rejection. A score below 650 does not meet the stated eligibility criteria.
Cumulative interest over time is calculated by adding the total interest paid across all loan repayments during the tenure. You can estimate it by subtracting the principal amount from the total amount repaid or by using a personal loan EMI calculator.
Sign in to My Account on the Bajaj Finance website or the Bajaj Finserv App using your registered mobile number and OTP. You can access your repayment schedule, repayment history and outstanding balance, and download your Statement of Account to review loan transactions.
The loan amount and tenure can influence the interest rate offered by Bajaj Finance. Your credit profile, income and repayment capacity also affect the assessment. The rate applicable to your application depends on the lender’s evaluation of these factors.
Related articles
Disclaimer
Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.
For customer support, call Personal Loan IVR: 7757 000 000