Loans & credit
Personal loan
An unsecured loan you can use for almost anything, quick to get but expensive.
A personal loan needs no collateral and can be used freely, from a wedding to a medical bill.
Because it is unsecured, interest rates are high, often 11% to 24%, depending on your credit score.
It is convenient but pricey. Use it for genuine needs, not lifestyle wants, and repay fast.
For example
A ₹5L personal loan at 15% for 3 years means paying back around ₹6.25L. Fine for an emergency, terrible for a holiday.