Loans in India – 2026
Compare interest rates, fees and tenure for home, personal, car, used car, two-wheeler, education and gold loans from 65 lender products. Work out your EMI and eligibility, and learn the RBI rules that protect borrowers.
RBI repo rate 5.25% · Lender rates checked 27 September 2026Loan categories
Each category has a hub with lender-wise rates, calculators, eligibility, documents and in-depth guides.
Buy, build or renovate a house. 17 lenders, 32 guides & calculators.
Any personal need — wedding, travel, medical, debt consolidation. 8 lenders, 29 guides & calculators.
Buy a new car. 8 lenders, 26 guides & calculators.
Buy a pre-owned car. 8 lenders, 25 guides & calculators.
Buy a scooter, bike or EV. 8 lenders, 20 guides & calculators.
Study in India or abroad. 8 lenders, 29 guides & calculators.
Quick cash against jewellery. 8 lenders, 26 guides & calculators.
All loans compared
| Loan | Published rate range | Tenure | Security | Funding |
|---|---|---|---|---|
| Home Loan | 7.10% – 17.00% | Up to 30 years | Property (mortgage) | Up to 90% of value (₹30 lakh or less) |
| Personal Loan | 9.99% – 24.00% | 1 – 7 years | None (unsecured) | Based on income and credit score |
| Car Loan | 7.45% – 15.00% | 1 – 8 years | Car (hypothecation) | Up to 90% – 100% of on-road price |
| Used Car Loan | 9.45% – 15.60% | 1 – 7 years | Car (hypothecation) | Up to ~80% – 100% of valuation |
| Two-Wheeler Loan | 8.90% – 28.00% | 1 – 5 years | Vehicle (hypothecation) | Up to 85% – 100% of on-road price |
| Education Loan | 6.75% – 14.10% | Up to 15 years after moratorium | None up to ₹7.5 lakh (CGFSEL); collateral above | Need-based; margin above ₹4 lakh |
| Gold Loan | 8.50% – 27.00% | 3 months – 3 years | Gold jewellery / coins | 85% / 80% / 75% of gold value by loan size |
Rate ranges span the lowest starting rate and highest published rate among lenders we track in each category; your rate depends on your profile.
EMI calculator
For amortisation, prepayment and rate-change planning use the full EMI planner.
How loan interest rates are set
Most floating-rate retail loans from banks are linked to an external benchmark — usually the RBI repo rate — plus a spread that depends on your credit profile. Older loans may still be linked to the bank’s MCLR. NBFCs and HFCs use their own benchmark (e.g. RPLR/LHPLR).
| Benchmark | Rate | Note |
|---|---|---|
| RBI repo rate | 5.25% | Unchanged at the 5 Aug 2026 policy (neutral stance) |
| SBI EBLR | 7.90% | Repo + 2.65% (effective 15 Dec 2025) |
| SBI 1-year MCLR | 8.70% | Effective 15 Sep 2026 |
| HDFC Bank 1-year MCLR | 8.35% | Effective 7 Sep 2026 |
| PNB 1-year MCLR | 8.80% | Effective 1 Sep 2026 |
| Canara Bank 1-year MCLR | 8.75% | Effective 12 Jun 2026 |
- Repo-linked (EBLR/RLLR): reset at least once every three months, so RBI cuts reach you quickly.
- MCLR-linked: reset every 6 or 12 months; you can switch to EBLR by paying a conversion fee.
- Fixed-rate: common for personal, vehicle and some gold loans; unaffected by RBI moves.
Credit score and your rate
| CIBIL score | What it usually means |
|---|---|
| 750 – 900 | Best rates and fastest approval |
| 700 – 749 | Approval likely; slightly higher rate |
| 650 – 699 | Limited offers; secured loans easier |
| Below 650 | High chance of rejection for unsecured loans |
| No history (NH / -1) | New to credit — start with a secured card or small loan |
Scores from CIBIL, Experian, Equifax and CRIF High Mark range from 300 to 900. You are entitled to one free full credit report a year from each bureau; lenders now report data to bureaus at least fortnightly, so repayments show up faster.
RBI rules that protect borrowers
| Protection | What it means for you |
|---|---|
| Key Facts Statement (KFS) | Mandatory for all retail and MSME term loans since 1 Oct 2024; shows the all-inclusive Annual Percentage Rate (APR), EMI schedule and every fee |
| Charges not in KFS | Cannot be levied without your explicit consent |
| Validity | At least 3 working days for loans of 7 days or more — time to compare offers |
| Floating-rate reset (RBI, Aug 2023) | At a rate reset you can choose a higher EMI, a longer tenure (without negative amortisation), switch to fixed rate, or prepay; you get quarterly statements |
Prepayment & foreclosure
| Situation | Rule |
|---|---|
| Floating-rate loans to individuals (non-business) | No prepayment / foreclosure charge — any lender, part or full, from any source of funds |
| Loans sanctioned or renewed from 1 Jan 2026 | RBI (Pre-payment Charges on Loans) Directions, 2025 also bar charges on floating-rate business loans to individuals and MSEs at most banks and large NBFCs; no minimum lock-in |
| Fixed-rate loans | Lender may charge as per the sanction letter and Key Facts Statement |
| Disclosure | Any charge must be shown in the sanction letter, loan agreement and KFS; waived charges cannot be levied later |
Which loan should you take?
| Situation | Best option | Why |
|---|---|---|
| Need money within hours, own gold | Gold loan | Lowest paperwork; rate from ~8.50% |
| Have FDs | Loan / overdraft against FD | FD rate + 1% – 2%; FD keeps earning |
| Existing home loan | Top-up home loan | Usually cheaper than a personal loan |
| Planned big expense, good score | Personal loan | Unsecured; compare APR in KFS |
| Higher studies | Education loan | Moratorium, 80E deduction, govt subsidy schemes |
| Vehicle purchase | Car / two-wheeler loan | Asset-backed; keep tenure short |
Loan calculators
Frequently asked questions
Which loan has the lowest interest rate?
Secured, government-linked loans are cheapest: education loans from about 6.75% at public-sector banks, home loans from about 7.10%, and gold loans from about 8.50%. Unsecured personal loans start around 9.99% for the best profiles.
Why did loan rates fall in 2025–26?
The RBI cut the repo rate from 6.50% to 5.25% during 2025. Loans linked to an external benchmark (repo-linked) reset within three months; MCLR-linked loans move more slowly.
What credit score do I need?
750+ gets the best rates on most loans. Secured loans such as gold loans and loans against FD depend far less on the score.
How much EMI can I afford?
Most lenders cap total EMIs at 40%–55% of net monthly income (FOIR). Use the eligibility calculator in each category.
Can I prepay my loan without penalty?
Yes for floating-rate loans taken by individuals for non-business purposes. From 1 Jan 2026, RBI also bars prepayment charges on floating-rate business loans to individuals and MSEs at most lenders. Fixed-rate loans may carry a charge shown in the Key Facts Statement.
What is the Key Facts Statement?
A standard summary every lender must give before you sign a retail or MSME loan (since 1 Oct 2024). It shows the APR — interest plus all fees — so you can compare offers fairly.
For information and comparison only. FinancePortal is not a lender; confirm terms with the lender and read the Key Facts Statement before borrowing.