Personal loan rates October 2026: Check EMI and processing fees across 22 lenders

Personal loan interest rates in October 2026 range from 8.90% to 30.50% across 22 lenders. Compare personal loan EMIs, interest rates and processing fees for a ₹5 lakh, five-year loan before choosing a lender and assessing your repayment capacity.

Are you looking for a personal loan? Have you devised a plan to repay the borrowed funds? This is important because borrowing funds is just the first step in the process. Further, personal loan interest rates can vary widely across lenders, affecting both the monthly EMI and the overall cost of borrowing.

As of today, the rates listed by 22 prominent lending institutions range from 8.90% to 30.50%, depending primarily on the lending institution, the borrower’s profile, the loan tenure, and a host of other factors.

For example, for a ₹5 lakh personal loan with a 5-year tenure, the EMI starts at ₹10,355 at Axis Bank and Union Bank of India, as per data compiled by Paisabazaar. Bajaj Finserv, on the other hand, has the widest stated interest rate range, from 10% to 30.50%.

Yet another extremely important aspect that needs proper due diligence and consideration is the processing fee. This metric also differs considerably from one lender to another.

For example, Tata Capital lists a flat ₹49 processing fee, and Kotak Mahindra Bank charges up to 5% of the loan amount. With these aspects in mind, let us look at personal loan rates and applicable EMIs for October 2026.

Personal loan rates and EMI comparison for October 2026