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Personal Loan Interest Rates

Looking for a personal loan that will help you sail through all the obstacles? Then, look no further! Airtel Finance offers one of the best personal loan interest rates in the current market. Apply for our personal loan today and use Flexi Credit with easy EMIs. With personal loan interest rates from Airtel Finance starting at 11.5% per annum, it does not get any better. Apply now!

Interest Rates on Personal Loans

With Airtel Flexi Credit, high interest rates are a story from the past!

  • Extremely flexible

    Airtel Flexi Credit is quite flexible. You can easily choose the personal loan amount, loan tenure and EMI.
  • Get credit very easily

    Apply for the Airtel Flexi Credit through a simplified process.
  • Low interest for all

    Starting at just 11.5% per annum, Airtel Finance provides personal loans at the most competitive rates.

How to apply for a Personal Loan?

Follow the simple steps mentioned below

  • Open Airtel Thanks App
    Find Shop > Airtel Finance

  • Select Flexi Credit
    Fill in your basic details

  • Get best offer
    Basis profile verification

  • Complete the KYC
    Link your bank account

Features of Personal Loan

With Airtel Flexi Credit you get below

1 /  

  • Personal loan amount
    ₹10,000 to ₹9,00,000
  • Interest rates
    Starting from 11.5% p.a.
  • Personal loan tenure
    03 to 60 months
  • Credit disbursal
    Within 24 hours
  • No paperwork
    100% online
  • Low processing fee
    2% to 4% + GST

FAQs on Personal Loan Interest Rate

What is the meaning of Personal Loan Interest Rate?

Personal loans are quite easy to get. Very less documentation, streamlined processes, and instant amount transfers. However, just like any other loan, personal loans are also accompanied by their respective personal loan interest rates. It is a certain amount that the lender charges to the borrower. The interest rate of a personal loan can depend on a variety of factors, such as the amount, the EMI you are willing to pay, the tenure, and even the lender, in certain cases. Use a personal loan EMI calculator to understand how the personal loan affects your finances.

How can someone calculate their Personal Loan interest rates?

There is no rule to calculate the personal loan interest rate. Instead, your rate of interest on the personal loan may differ from one financial institution to another. To get a complete picture of your personal loan interest rate, it is a good idea to look across a variety of personal loan lenders and choose the option that gets you the best deal with minimum hassle.

What is the average rate of interest on a personal loan?

On average, personal loan interest rates can vary from 10% to 35% per annum. In addition, there can be banks that might ask for interest rates even higher than this. However, there are plenty of deciding factors based on which your personal loan interest rate gets decided. Make sure that you go for personal loans that offer an interest rate within your financial means.

What determines the interest rates on a personal loan?

There are plenty of factors that can affect the interest rate on your personal loan. But one of the biggest factors is your credit score. If you have a good and high credit score, the bank is reassured that you will pay back on time and consider you less of a risk. Hence, you will get a lower rate of interest. On the other hand, having a low credit score pushes up the rate of interest significantly, as banks are more reluctant to offer you a loan.

What is the lowest interest rate available on personal loans? How can I get the lowest interest rate?

The lowest interest rate for a personal loan starts at 12% at Airtel Finance . A good credit score helps secure a personal loan with a lower interest rate. Therefore, if you complete all your repayments on time, then it helps to rank positively on your credit score and banks will lend you a loan with a lower interest rate. Having a good credit score, exciting bank offers, comparing personal loan interest rates across banks, and even negotiating with the bank lender can help you get the lowest interest rates on your personal loan.

Does income play any role in determining the interest rates on a personal loan?

Yes, income certainly plays a major role when it comes to determining your interest rates. For banks, a person with a higher income means that it is a safer option to lend to that person, as compared to someone with low income. In addition, people with lesser annual incomes may also have to pay higher interest rates. Hence, having a good income can help you get lower interest rates.

Can I get a low rate of interest even if my credit score is bad?

The credit score is one of the most fundamental aspects when it comes to securing a personal loan. Therefore, it will be difficult for you to get a low rate of interest with a bad credit score. However, it is not an impossible feat. You can still get personal loans from many banks easily, but the interest will be slightly higher because of the bad credit score.

How do my employment history and experience play a role in determining the rate of interest?

Your income and work experience can play a key role in the amount of interest that will be offered to you for your personal loan. If you are a seasoned professional with plenty of work experience, then it impacts positively, and the rate of interest could be lower. In addition, if your employer is a reputed company, then it will benefit further.

How does my credit score affect my personal loan interest rate?

Your credit score is extremely important when you are applying for a personal loan. A good credit score denotes that you can get a loan quite easily. However, on the back of a bad credit score, the interest rates will be higher. Moreover, there can be cases when the lender outright denies lending money to you because of a bad credit score. Thus, keeping a healthy credit score is of utmost importance.

Are personal loan interest rates fixed or variable?

Personal loan interest rates can be both fixed and variable. It all depends on what is ultimately convenient for you. For example, if you like to plan your finances, then a personal loan with a fixed interest rate is good for you. On the other hand, if you do not mind fluctuating interest rates, then a variable rate of interest can be a good idea since you will have to pay lesser interest when the rates are low.

Can I negotiate for a lower personal loan interest rate?

Yes, you can negotiate for a lower personal loan interest rate if your payment history and credit report are good.

How do I compare personal loan interest rates from different lenders?

Airtel Personal loans have multiple lenders. You can compare the interest rates easily online. If you wish to check with other lenders, contact individual banks/lenders for more information.

How do I benefit if the interest is calculated on a daily/monthly reducing balance?

If the interest rate is calculated on a daily/monthly reducing balance, the interest is charged on the remaining outstanding loan amount. This method effectively reduces the interest amount on the overall loan.

Is there any relationship discount on interest rates?

Contact the lenders’ POC (Point of Contact) to know more about discounts on interest rates.

How does a balance transfer help you get a lower interest rate?

The balance transfer method refers to transferring the balance loan to a lender that charges lower interest rates. You will have to pay certain fees for the balance transfer. Ultimately, you will be paying lower interest rates with the balance transfer.

What is the difference between APR and interest rates for personal loans?

APR or Annual Percentage Rate is charged by the credit card companies on any outstanding credit card bill. On the other hand, interest rates for personal loans are charged by the lenders on the personal loan principal amount.

How does the lender determine my interest rate for a personal loan?

The interest rates for a personal loan depend on the following factors:
  • Lender’s policy
  • Credit Score
  • Payment history

Does offering collateral help in getting a better interest rate?

A personal loan is an unsecured loan. The borrower doesn’t have to put in any collateral for getting a better interest rate. Maintain a good credit history and payments to ensure you can negotiate a lower interest rate.

Is it possible for banks to change the interest rate during the loan tenure?

Personal loans are offered at both floating and fixed interest rates. If you choose a floating interest rate system, the lender can revise the interest rate as per RBI’s repo rate.

Do government employees get special low-interest rates on personal loans?

Talk to the lender’s POC to know about more special low-interest rates on personal loans.

What is a flat Personal Loan Interest Rate?

A flat personal loan interest rate is a lending interest rate that doesn’t change for the whole loan tenure. It is calculated for the entire principal amount at the beginning of the loan tenure.

What is the interest rate on a personal loan of Rs. 1 lakh?

The interest rate on Rs. 1 lakh personal loan depends on the lender and your credit score. You can calculate the interest rate and EMI amount using Airtel personal loan EMI calculator.

What is the interest rate on a personal loan of Rs. 3 lakh?

Airtel Finance have multiple lending partners. Each lender has their own interest rate policy for a 3 lakhs loan. Talk to the lender for exact information.

What is the interest rate on a personal loan of Rs. 5 lakh?

Every lender has their policy when it comes to interest rates. Check with multiple lenders and get the best interest rate for a 5 Lakhs personal loan.

What is the interest rate on a personal loan of Rs. 8 lakh?

You can find out the interest rate on an 8 Lakhs personal loan from your lender. Make sure your credit score is above 700 to negotiate for a lower interest rate for your personal loan.

Personal Loan Lending Partner -
Airtel Flexi Credit

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Personal loan interest rates in 2024

Whenever you apply for a personal loan, you will be charged interest on it, which is then paid with the help of EMIs. However, most banks charge a lot of interest rates and that makes the personal loan repayment very difficult and expensive for the applicants. If you are looking for a personal loan lender that helps you get loans with very low and attractive interest rates, then choose Airtel Finance.

Current Personal Loan Interest Rates

At Airtel Flexi Credit, multiple personal loan lenders have their specific personal loan interest rates, depending on their conditions. Here’s a table of the different personal loan lenders at Airtel and how their starting interest rates vary from one another:

Lender Money View DMI Finance Axis Bank Credit Saison
Interest rates starting from 15% starting from 12.99% starting from 12% starting from 12.99%

How to get the Lowest Interest Rates on a Personal Loan?

Here are a few tips to get the lowest interest rates on your personal loan:

  • Improve your credit score as it is one of the most important factors for getting a personal loan
  • Do not miss out on any personal loan or credit card repayments to ensure that your repayment history is perfect
  • Make sure you always have the best personal loan offer by comparing multiple loan lenders
  • Negotiate your personal loan with the lender for better terms and conditions

Want to get the lowest interest rates on your personal loan? Apply for a personal loan from Airtel Flexi Credit and get the lowest interest rates in the current market. And not just low interest rates, but you also get plenty of added benefits such as a personal loan completely on your terms, without any personal loan documents, relaxed personal loan eligibility criteria, a 100% digital application process, credit disbursal in just 24 hours, and a lot more.

Factors Affecting Interest Rates on a Personal Loan

Here are some of the factors that affect the interest rates on a personal loan offer:

  • Your income is very important because lenders always look at your income before providing a personal loan. People with higher incomes will have to pay lower interest rates and vice versa.
  • If you work at a reputed organisation, you will get a personal loan with lower interest rates.
  • Your age is also important. If you are nearing retirement age, then the loan might have a greater rate of interest.
  • If you have an existing relationship with the bank or the lender, then you can leverage that to get a better rate of interest on your personal loan.

What is meant by Reducing Interest Rate concerning Personal Loan?

Getting a personal loan with a reduced interest rate is always an attractive proposition. However, here are some things that you should consider before signing the documents:

  • Check for any hidden charges or higher processing fees for the personal loan.
  • Make sure the bank or lender will charge extra if you foreclose the personal loan.
  • Always check if the bank or lender provides efficient customer service.
  • Double-check to ensure that you meet all the personal loan eligibility requirements.
  • Most banks will complete the loan disbursal very quickly, so check how much time the bank is taking to provide the loan.
  • Remember to check if there are any special offers or discounts that will help you get a loan with lower interest rates.