Q1. How does My Mudra provide Personal Loans?

Ans: My Mudra is a fintech company. We acts as a bridge between borrowers and lenders, including banks and NBFCs. Our aim is to provide the best instant personal loan alternatives for your needs.

Q2. What is the interest rate range for personal loans?

Ans: The interest rate is from 10% to 24% per annum. Lender’s policies, the customer’s credit score and the loan amount affects the rate.

Q3. Is there a late payment fee for personal loans?

Ans: Yes, there is. A late payment fee of 2-3% per month on the overdue amount is levied, which can have an impact on your credit score.

Q4. What is the HDFC Bank personal loan?

Ans: HDFC Bank offers personal loans up to ₹40 lakh. It has a tenure period of up to 5 years. The interest rate range of 10.90% to 24.00% per annum with processing fee of up to ₹6,500 + GST charges.

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Top Reasons Millennials in India Prefer Personal Loans in 2026

Millennials in India are turning to personal loans more than ever in 2026. From covering lifestyle needs and medical expenses to funding travel, weddings, and side businesses, this blog explores the top reasons driving this trend.

Anjali Singh

Assistant Manager

Published Date:Aug 26, 2025

Updated Date:Mar 26, 2026

Frequently Asked Questions

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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Top Reasons Millennials in India Prefer Personal Loans in 2026

Frequently Asked Questions

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"Check Your Loan Eligibility in Minutes!"

Top Reasons Millennials in India Prefer Personal Loans in 2026

Frequently Asked Questions

Anjali Singh

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