Current Interest Rate on Personal Loan

Fullerton India personal loan interest rates start at 11.99% per annum for salaried and self-employed applicants for a maximum of 60 months, which means you can get EMI as low as ₹ 2,224* per month. The interest rates and processing fee (Between 0% - 6% of the loan amount) make up for the total cost of the loan. Please do note that the exact interest rate applicable to you would also depend on the loan tenure you select (between 12 - 60 months) and the loan amount requested. Depending on our policy at the time of loan application, your requirement and profile, we decide the best personal loan rates applicable. You can then draw your monthly budget accordingly so that it is possible to pay the EMIs with ease.

At Fullerton India, we value your ambitions and expectations. We will quote a suitable rate of interest on personal loan that you can afford. We provide instant decisions in personal loan eligibility after online application, and communicate the fees and charges upfront and maintain transparent procedures. When you choose Fullerton India personal loan, you do not have to worry about hidden charges or fees.

Please see below, a complete list of personal loan interest rates, fees & charges.

Check Your Eligibility   Apply Now

At Fullerton India, we bring you the best personal loan interest rates based on your individual and financial profile as well as your requirement. Apart from interest charges, we also charge processing fees and foreclosure charges are applicable in case of prepayment or foreclosure of the loan. Provided below is a brief snapshot of the current personal loan interest rates and the factors that influence its finalization.

Personal Loan Interest Rate Starting at 11.99% per annum
Processing Fee Between 0% - 6% of the loan amount
Loan Tenure Up to 60 months
Lowest EMI Per Lakh `2,224 for 60 months
Prepayment Charges 0% to 7%*

Please refer to the policy and charges before applying for a personal loan online.

Personal Loan Fees & Charges

Here are Fullerton India personal loan fees and charges to help you understand the same in detail,

There are a few personal loan charges to keep in mind. These, along with interest rates influence the total cost of the loan. Below enlisted is information on the applicable fees and charges.

All charges mentioned in the below table are in INR (₹)

Fee Type Applicable Charges
Delayed EMI Payment Interest
( per month of delay, every month)
As stated under additional interest charge**
Collection of Cheque/Cash
(per collection)
Cheque /ECS/NACH dishonoured Charges
(per dishonour of cheque/ECS/NACH per presentation)
Swap Charges- for replacement of Post-dated cheques to ECS
(per instance)
Swap Charges- for replacement of ECS to ECS
(per instance)
Loan Cancellation charges
(loan cancelled before first EMI)
Processing Fees Between 0% - 6% of the Loan Amount
*Foreclosure charges/ pre-payment penalties shall not be charged on all floating rate term loans sanctioned to individual borrowers

Personal Loan Foreclosure Charges

Summarized below are the personal loan foreclosure charges applicable, if you wish to close your personal loan account before the end of the loan tenure..

No. of EMIs paid (Excluding Pre-EMI) Foreclosure Charges
0 to 17 EMI(s) fully paid 7% of the Principal Outstanding
18 to 23 EMI(s) fully paid 5% of the Principal Outstanding
24 to 35 EMI(s) fully paid 3% of the Principal Outstanding
36 or more EMI(s) fully paid No Foreclosure Fee

Personal Loan Additional Interest Rates

**Additional Interest (applicable for payment defaults): Rate
**Additional Interest (applicable for payment defaults) 24% per annum on outstanding balance which is overdue, calculated on day to day basis

Types of Personal Loan Interest Rates

There are two types of personal loan interest rates, fixed interest rates and floating interest rates. Most personal loan lenders offer a fixed interest rate. Let’s understand the difference between the two.

  • Fixed or Flat Interest Rate: Under this system, the interest rate charged on the personal loan is constant during the entire loan tenure. The interest rate is fixed by the lender at the time of disbursal of the personal loan amount. 
  • Floating Interest Rate: Under this system, the rate of interest for personal loan is linked to the external benchmark and is subject to revision every quarter. The interest rate is directly affected by changes made by the Reserve Bank of India in the repo rate. As the personal loan interest rates are subject to change, the personal loan EMIs also change accordingly that may increase or decrease.

In this method, the interest rate for the outstanding loan amount is calculated as per the prevailing interest rate after the payment of each EMI.

Please note that Fullerton India offers personal loans at a fixed rate of interest.

Personal Loan Interest Rate Calculation

The personal loan interest calculation method differs in both fixed interest rate and floating interest rate types.

Fixed Interest Rate

Under the fixed interest rate type, the interest amount of the whole loan tenure can be determined at the start of the loan tenure. 

The formula for personal loan interest calculation under fixed interest rate type is:

Total Interest Payable = Principal * Rate of Interest * Loan Tenure

EMI = (Principal + Total Interest Payable) / Loan Tenure in months

Floating Interest Rate

Under the floating interest rate type, the interest payable on each EMI has to be calculated after the payment of each EMI as the rate of interest on personal loan is not constant.

The formula to calculate the interest on the outstanding personal loan amount:

Interest Payable = Outstanding Loan Amount * Interest Rate * Remaining Loan Tenure

EMI = [P * R * (1+ R) ^ N] / [ (1+ R) ^ (N - 1)]

P= Principal Amount
R= Rate of Interest
N= Loan Tenure in Months

The interest payable under the floating interest rate system changes every month and is always lower compared to previous months. This is because the interest calculated for the next EMI is done on the lower outstanding principal loan amount.

Factors that Affect Personal Loan Interest Rates

The determination of personal loan interest rates is affected by many factors, including both external and internal factors. Some of the key factors that affect personal loan charges include:

  1. Age of the Borrower: The borrower must be of lower age, above 21 years and not close to the retirement age
  2. Credit Score: The borrower must have a good credit score of 750 and above
  3. Occupation: The borrower shouldn’t be involved in a job that is considered riskier and has uncertainty. A salaried professional enjoys a better bargaining power on interest rate compared to self-employed professionals. 
  4. Employer: Working with a reputed employer increases your chances of getting a lower interest rate on a personal loan.
  5. Repayment Capacity: You should have a lower debt-to-income ratio that will help you to get a personal loan easily
  6. Relationship with the Lender: If you are an existing customer with the lender, the process to get a personal loan gets easier

How to Get the Lowest Interest Rate on Personal Loan?

There are many ways through which you can avail of low personal loan interest rates and that includes:

  • Improve your Credit Score: By aiming for a high credit score, closer to 900, it improves your creditworthiness and ability to get a personal loan at low interest
  • Compare Personal Loan Interest Rates: Before applying for a personal loan, always compare the personal loan fees and interest rates offered by different lenders. It helps you to get the idea of the prevailing market condition and negotiate with the lender in a better way.
  • Keep an Eye on Offers: Lenders during festive or special occasions often come out with attractive offers in form of low-interest rates on personal loans for a limited period. You can use the opportunity to avail the benefits. 
  • Don’t Miss on Repayments: Lenders often analyse your debt repayment history before approving your personal loan application. Always prioritise and make a loan repayment, including credit card due on time.
Page also available inहिन्दी - Hindi
12 Months
36 Months
60 Months

Your Calculated EMI*



What is the personal loan processing fee?

The processing fee is up to 6% of the entire loan amount. This is a one-time fee which will be clearly mentioned in the loan agreement. This amount is the personal loan ROI for all the services including loan application, document verification, legal procedures, customer support, and other services involved in processing the loan.

How to calculate personal loan interest rates?

We finalize the rate of interest after reviewing several factors related to the applicant. These factors include the applicant’s age, location, employment type, work experience, net income, existing monthly obligations, and more. The personal loan minimum interest rate is 11.99%* per annum. The rates can go up to 36% depending on the applicant’s profile. To get the best personal loan rates, maintain a good credit score, clear the pending dues on EMIs, and make timely repayments on existing loans.

What is a good interest rate on a personal loan?

Fullerton India offers competitively priced personal loans to suit every customer’s needs. The personal loan interest rate is calculated based on several factors including your income source, employment or business stability, and existing monthly obligations. Our personal loan interest rates usually range between 11.99% - 36% per annum, depending on your unique profile that gets generated after factoring in the aforementioned details.

To know more, please check the Interest Rates section. You can also get in touch with a customer care representative or email us at [email protected] to know more.

At what rate of interest will I get a personal loan?

Fullerton India offers competitively priced personal loans to suit every customer’s needs. The personal loan interest rate is calculated based on several factors including your income source, employment or business stability, and existing monthly obligations.

* Terms and conditions apply
** Subject to foreclosure charges. Terms and conditions applicable.

Knowledge Centre

Here are some articles which could help you understand us and our products better.

Have a Query? Read FAQs
Should You Take a Personal Loan for Honeymoon Expenses?
Personal Loan

Should You Take a Personal Loan for Honeymoon Expenses?

Indian weddings undoubtedly are a whole lot of fun. But they are also tremendously hectic. Not just for the guests who…

4 Reasons Why Personal Loan Demand is Increasing Every Year
Personal Loan

4 Reasons Why Personal Loan Demand is Increasing Every Year

Despite the general mindset of a loan equating to liability, not all loans are bad.

Can a Personal Loan Help You Fulfil Your Entrepreneurial Dreams?
Personal Loan

Can a Personal Loan Help You Fulfil Your Entrepreneurial Dreams?

If you are a businessman in the early stages of your venture, availing a business loan