Q1. How to calculate personal loan interest manually?

Ans: EMI = P x R x (1+R)N / (1+R)N - 1 P = ₹5 lakh, R = 10.5%/12 = 0.875%, N = 36 months EMI = ₹16,240/month

Q2. Can I get a personal loan with a 650 CIBIL score?

Ans: Yes, but expect higher rates (15%–25%) from NBFCs like Moneyview or Shriram Finance.

Q3. Do banks charge lower rates for self-employed applicants?

Ans: Yes! ICICI Bank offers 11.25%–14% for self-employed professionals with 3+ years of ITR history.

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Personal Loan Interest Rates in 2026: Starting @ 9.99%

Compare all bank personal loan interest rates for 2026. Find the best personal loan deals with low interest & instant approval.

Anjali Singh

Assistant Manager

Published Date:Apr 21, 2025

Updated Date:Feb 12, 2026

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Anjali Singh

Assistant Manager

Hey there, I'm Anjali Singh. With over 6 years of experience in finance, I specialize in creating content on banking, loans, and financial planning. My goal is to simplify complex financial topics and help readers make informed decisions through my articles.

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