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Personal Loan Interest Rates - Airtel Flexi Credit

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.

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
  • 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.

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 really 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 10.49%. A good credit score helps secure a personal loan with 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

What are Airtel Finance personal loan interest rates?

Every Airtel Finance personal loan attracts interest rates on the principal loan amount. Similarly, Airtel personal loans also come with their own interest rates. Since Airtel personal loans have multiple lending partners, the interest rates also differ for each lender.

The interest rate is charged on the loan amount and is included in the monthly EMIs. Use the personal loan interest rate calculator to know the EMI amount according to the loan tenure.

How to get the lowest interest rates on a personal loan?

In order to get the lowest interest rates on a personal loan, keep in mind the following factors:

Credit Score

A good credit score and history can help you show the lender that you are worthy of an unsecured loan. A good score says a lot about your creditworthiness. Therefore, if you are planning to take a personal loan, make sure your credit report is clean, doesn’t have any defaults, and your bills are paid on time. A score above 700 is always good to get a personal loan.

Credit Utilization

Another factor to keep in mind is credit utilization. It basically means that you should use your credit responsibly. As per the experts, you should only use 20-30% of your credit. This factor has a high impact on your total credit score.

If these factors are taken care of, you can negotiate for a lower interest rate on a personal loan. Using payment methods like monthly reducing balance, partial payment, and balance loan transfer can also help you lower your interest amount during the loan tenure.

Factors affecting the rate of interest on personal loan

Personal Loans are unsecured loans. It means the borrower doesn’t have to show any collateral to get the loan. Therefore, these loans attract higher interest rates than secured loans like home or car loans. Other than this, there are many other factors that affect the rate of interest on a personal loan.

Every individual is charged different interest rates by the lender. Here are a few factors that impact the rate of interest:

Lender’s policy

Every lender has their own policy when it comes to the rate of interest for a personal loan. These policies include a set range of interest rates a lender can charge from the borrower. While some lenders may charge lower interest rates, some may charge comparatively higher rates. Make sure to compare multiple personal loan offers before deciding on one.

Borrower’s credit score

Your credit score helps the lender decide on an interest rate for your personal loan. A higher credit score can get you lower interest rates. Whereas a low credit score might make it difficult to even get a loan or attract comparatively high-interest rates.

Income

The borrower’s income also influences the rate of interest that your personal loan will attract. If you have a high income, you will be considered a low-risk borrower. Therefore, the interest rate for you will be lower. In case, your repayment ability is not good due to low income, you might attract higher interest rates.

Other factors like the past relationship with the lender, economic situation, and employment stability also impact the rate of interest on a personal loan.

What is meant by Reducing Interest Rates on a personal loan?

Reducing interest rates on a personal loan method refers to an interest payment plan where the interest is calculated only on the outstanding amount every month.

  • There are two types of interest rates – Flat and Reducing.
  • Flat interest rates stay the same for the whole loan tenure. They are calculated on the total loan amount.
  • Reducing interest rates every month as they are calculated on each month’s outstanding amount.
  • Borrower spends less on interest with the reducing interest rate method.
  • Every lender has their own specific policy for flat and reducing interest rates.

Talk to Airtel Finance personal loan lending partners to know their policy about interest rates and apply for an instant personal loan today!