True cost of a ₹1 lakh personal loan, lender by lender
Interest, processing fee and GST for the same loan at every lender we compare, worked out from their published rates.
13 lenders · last verified 18 Oct 2026 · how we compare
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₹1 lakh over 12 months: what each lender costs
| Lender | Interest rate | Fee used | Cost at lowest rate | Cost at highest rate | Closing early | Apply |
|---|---|---|---|---|---|---|
| Freo | 12% to 36% a year | None published | ₹6,619EMI ₹8,885 | ₹20,555EMI ₹10,046 | Up to 3–4% of the outstanding amount in certain cases; no lock-in, can be closed any time | Apply nowVia our referral partner. We may earn a commission. |
| Kissht | 12% to 36% a year | None published | ₹6,619EMI ₹8,885 | ₹20,555EMI ₹10,046 | Depends on which partner lends: 4% + taxes on the principal and interest you close early with one partner (nothing during the cooling-off period), or 3.39% of the principal outstanding + taxes with another. The Key Fact Statement shows which applies | Apply nowVia our referral partner. We may earn a commission. |
| IDFC FIRST Bank | From 9.99% a year | 3.5% + GST | ₹9,623EMI ₹8,791 | Single rate published | Nil (a sanction letter is needed to foreclose) | Apply nowVia our referral partner. We may earn a commission. |
| Hero FinCorp | 17.9% to 30% a year | None published | ₹9,959EMI ₹9,163 | ₹16,985EMI ₹9,749 | Up to 5% + GST on outstanding principal | Apply nowVia our referral partner. We may earn a commission. |
| Prefr | 18% to 30% a year | None published | ₹10,016EMI ₹9,168 | ₹16,985EMI ₹9,749 | Not published | Apply nowVia our referral partner. We may earn a commission. |
| Poonawalla Fincorp | From 9.99% a year | 4% + GST | ₹10,213EMI ₹8,791 | Single rate published | 4% of the amount prepaid + taxes before you've paid 6 EMIs. After 6 EMIs it's free if you pay from your own money, or 4% + taxes if you pay with another loan or a balance transfer. Poonawalla also shows different, tiered charges elsewhere, so check the Key Fact Statement | Apply nowVia our referral partner. We may earn a commission. |
| InCred | 10% to 36% a year | 5% + GST | ₹11,399EMI ₹8,792 | ₹26,455EMI ₹10,046 | Up to 5% + taxes to close the loan after 6 months from disbursal, on loans taken directly from InCred. Loans arranged through InCred's partners can cost up to 6% + taxes. | Apply nowVia our referral partner. We may earn a commission. |
| KreditBee | 12% to 27.5% a year | 4.7% + GST | ₹12,165EMI ₹8,885 | ₹21,060EMI ₹9,626 | Up to 5% of principal outstanding + GST | Apply nowVia our referral partner. We may earn a commission. |
| lendingplate | 12% to 36% a year | 5% + GST | ₹12,519EMI ₹8,885 | ₹26,455EMI ₹10,046 | 5% if closed before the first EMI due date; nil on or after the first EMI due date | Apply nowVia our referral partner. We may earn a commission. |
| Unity Small Finance Bank | 16% to 30% a year | 4% + GST | ₹13,597EMI ₹9,073 | ₹21,705EMI ₹9,749 | 4% + GST of principal outstanding (bank's own personal loans); up to 3% + GST on digital-lending personal loans. Nil cancellation charge within the cooling-off period, but interest and upfront fees are kept | Apply nowVia our referral partner. We may earn a commission. |
| Finnable | 16% to 30.99% a year | 5% + GST | ₹14,777EMI ₹9,073 | ₹23,470EMI ₹9,797 | Allowed after 6 months, with a preclosure charge + GST; Finnable doesn't publish the percentage. Closing the loan in the first 6 months is discouraged. | Apply nowVia our referral partner. We may earn a commission. |
| FatakPay | From 14.4% a year | 6% + GST | ₹15,051EMI ₹8,998 | Single rate published | Not published | Apply nowVia our referral partner. We may earn a commission. |
| Moneyview | 14% to 36% a year | 8% + GST | ₹17,185EMI ₹8,979 | ₹29,995EMI ₹10,046 | No charge, but only after a lock-in: not allowed on loans of up to 6 months, allowed after 6 EMIs on 7–18 month loans and after 12 EMIs on longer ones. Moneyview also mentions a shorter 3-EMI minimum, so check the Key Fact Statement. | Apply nowVia our referral partner. We may earn a commission. |
Cost = interest over 12 months (or the lender's longest tenure, if shorter) on the reducing balance, plus the highest published processing fee and 18% GST on it. Sorted by the cost at the lowest published rate. We compare lenders available through our partner; ranking never depends on what we earn. Not shown, because they don't publish a rate or don't lend ₹1 lakh: BharatPe, Ring (Pay with Ring).
Related guides and comparisons
- True Cost of a Personal Loan: Fees and APRWhat a personal loan really costs: flat vs reducing rate, processing fee and GST, APR in the Key Fact Statement, foreclosure and penal charges.
- EMI calculatorYour amount and tenure, with fee, GST and prepayment
- Personal loan interest rates comparedPublished rates, fees and who actually lends
Questions people ask
What does the true cost of a personal loan include?
Everything you pay on top of the amount you borrow: the interest over the tenure, the processing fee and the 18% GST on that fee. We leave out charges that depend on what you do later, such as late-payment or foreclosure charges; they're listed per lender in the table.
Why use ₹1 lakh over 12 months?
It's a common first loan and every lender here can give it, so the costs line up. Interest grows with the amount and the tenure, so use the EMI calculator for your own numbers; the processing fee usually grows with the amount too.
Is the rate on this page the rate I'll get?
Not necessarily. The lowest rate is a starting rate for the strongest profiles; most people are offered more. The highest published rate shows the other end. The Key Fact Statement you get before signing shows your actual rate, fees and APR.
What is APR and why does it matter?
The annual percentage rate spreads the fee and other charges over the loan, so it's higher than the interest rate when there's a fee. RBI rules require lenders to show it in the Key Fact Statement. Compare APRs, not just interest rates.
Last verified 18 Oct 2026 on each issuer's official page. Rates and fees change; check the lender's terms before you apply.