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Interest Rates for Personal Loans

Enjoy low personal loan interest rates for affordable repayments. Choose Aditya Birla Capital Personal Loans and instantly find your loan's expected EMI.

Easy & flexible repayment options
Easy application process with quick sanctions
Online EMI calculator for quick calculations

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165+

YEARS OF EXCELLENCE

3.8+ Cr.

ACTIVE CUSTOMER BASE

1300+

BRANCHES ACROSS INDIA

₹3.9 Lakh Cr.

AUM AS OF JUNE, 2023

Personal Loan
Interest Rates for 2024

Find out the interest payable on Aditya Birla Capital Personal Loan to plan your repayments effectively.

Loans up to 12 months

Interest is calculated on the Short Term Reference Rate (STRR).

STRR w.e.f. from March 1, 2024 is 19.45% p.a.

For Self Employed Non Professional

Interest is calculated on the Long Term Reference Rate (LTRR).

LTRR w.e.f. from March 1, 2024 is 20.45% p.a.

Fees and Charges for Personal Loan

Charge Type	Amount
Processing fees	Up to 4% of the loan sanctioned amount
Cheque Return charges	₹1000 + GST per instance
Penal charges (charges levied for non-payment of overdue amount)	3% p.m. (36% p.a.) on the overdue amount for the delayed period
Penal charges for non-compliance with material terms and conditions (covenants / stipulated conditions) mentioned in the Sanction Letter / Loan Agreement, wherever applicable	2% p.a. on the outstanding loan amount till the date of compliance
Charges for cancellation of Loan	4% of loan amount disbursed + applicable taxes
CIBIL report retrieval fees	Rs. 50 per instance for Consumer and Rs. 500 per instance for commercial CIBIL/Credit Report
Charge for Exchanging PDCs / ECS	₹750 + GST per instance
Loan re – schedule charges	₹5000 + GST per instance
Stamp Duty	As per Actual if applicable
Insurance Premium	As per Actual if applicable
Pre – closure Quote	₹1000 + GST per instance
Any other charges	As per Actual if applicable
Duplicate No Due Certificate issuance charges	Rs. 500 per instance
Foreclosure Charges	For Term Loan: Upto 4% of the principal outstanding amount For Flexi Loan: Upto 4% of the total withdrawable amount Conditions: Foreclosure is allowed only after 12 months from the date of disbursal of loan.
Part Pre-payment charges	For Term Loan: a) NIL charges – if part pre-payment is equal to 20% of principal outstanding amount b) Upto 4% on remaining loan amount – if part pre-payment is greater than 20% of principal outstanding amount Conditions: a) No pre-payment is allowed in first 12 months from the date of disbursement b) Part pre-payment amount should be equal to OR greater than total of 3 EMIs For Flexi Loan: a) No charges for payments through mobile app/portal. b) Part pre-payment of loan facility toward limit reduction is not available

How to Reduce Personal Loan Interest Rates

There are ways in which you can reduce the interest rates on your Personal Loan. These ways are as follows -

Good credit score

Improve your credit score. A high score shows that you are creditworthy and reduces default risk. As such, lenders tend to offer borrowers with high scores lower interest rates.

Negotiation

You can negotiate Personal Loan interest rates with the lender. You can get a lower interest rate if you have a high credit score and favourable eligibility parameters.

Shorter tenure

Choosing a shorter repayment tenure does not alter the interest rates, but it reduces your overall interest outgo on the loan. As the interest component reduces, you can save on repayments.

BALANCE TRANSFER LOAN

Transfer your existing loan to us for lower interest rates

Reduced Interest Rates.
Lower Monthly Payments.

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TOP UP LOAN

Secure additional funds at exceptional interest rates

Easy application process
Borrow up to 80% of property value

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Different financial needs, different loans,
one app - ABCD

For weddings, travel, vehicle purchases, or any other obligation, fulfil any need with personal finance solutions offered by the ABCD app.

Range of loan options for different needs
Range of loan options for different needs
Quick sanctions and disbursals

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Customer Satisfaction Stories

Hear from our happy customers what they have to say about their experience with us.

Mr. Hiralkumar Ashokbhai Patel

Aditya Birla Finance Customer

Seamless onboarding experience and great support provided by the Relationship Manager during the documentation process.

Mr. B. Narsimulu

Aditya Birla Housing Finance Customer

Hyderabad, India

Mr. Pramod Kumar Saini

Aditya Birla Finance Customer

I appreciate the online documentation process which helped in ease of my loan process. I could get loan information through WhatsApp and other digital platforms.

Mr. Vikram Balu Gavali

Aditya Birla Housing Finance Customer

Belapur, India

FAQs on Personal Loan Interest Rates

You cannot get a Personal Loan with a zero interest rate. An interest rate applies to all types of loans.

You can get a lower interest rate on a Personal Loan if you have a good credit score and when you compare and choose a lender offering the lowest rates.

Different lenders offer different interest rates on loans. If you find a lender offering a lower interest rate and switch, you can reduce the loan's interest outgo.

The interest rates determine your loan EMIs. If the interest rates are high, the EMIs will be higher and vice versa.

Some factors that influence the interest rate on Personal Loans are as follows -

• The lender’s pricing policies
• Your credit score
• The macro interest rates