Personal loan interest rates in 2026 range from 10.5%–24% p.a. Major banks: SBI from 11%, HDFC Bank from 10.85%, ICICI Bank from 10.85%, Axis Bank from 11%. NBFCs and fintech lenders may charge 16–30%. The rate depends heavily on your CIBIL score, income, and employer category.

Personal loan amounts typically range from ₹50,000 to ₹40 lakh. Government bank employees and PSU employees can get up to ₹25–40 lakh. Private sector employees typically get up to ₹15–25 lakh. The eligible amount is based on your net monthly income — EMI should not exceed 40–50% of monthly income.

A CIBIL score below 650 makes it difficult to get a personal loan from banks. NBFCs and fintech lenders may approve loans for scores of 600–650 but at higher interest rates (18–30%). To improve your score: pay all EMIs on time, reduce credit card utilisation, and avoid multiple loan applications simultaneously.

Typically required: Identity proof (Aadhaar/PAN), Address proof, Last 3 months salary slips, Last 6 months bank statements, Form 16 or latest ITR, and Employment proof (offer letter/employment certificate). Self-employed individuals need ITR for last 2 years and business proof.

Pre-approved personal loans from your existing bank can be disbursed within hours. For new applications, online lenders and fintech apps disburse within 24–48 hours. Traditional banks take 3–7 working days. Having all documents ready and a good credit score speeds up the process significantly.