When considering a personal loan, it’s essential to understand the associated fees and charges. At Bravima Solution, we work with leading NBFCs and banks to offer you the best financial solutions tailored to your needs. Here’s a detailed breakdown of the fees and charges you might encounter in 2025.
Types of Fees and Charges on Personal Loans
1. Interest Rate
The interest rate is the primary cost of borrowing a personal loan. It varies based on the lender, loan amount, and borrower’s creditworthiness. At Bravima Solution, we ensure you get competitive interest rates from top NBFCs and banks.
2. Processing Fees
Processing fees are charged by the lender for evaluating and processing your loan application. Typically, this fee ranges from 1% to 3% of the loan amount.
3. Prepayment and Foreclosure Charges
If you plan to repay your loan before the tenure ends, lenders may impose prepayment or foreclosure charges. These charges are usually a percentage of the outstanding amount.
4. Late Payment Charges
Missing your EMI payments can lead to late payment charges. These penalties are calculated as a percentage of the overdue amount.
5. Other Miscellaneous Charges
Other charges may include:
- Document Retrieval Fees
- Statement Charges
- Loan Cancellation Charges
- Part-Payment Fees
Current Personal Loan Interest Rates in 2025
Below is a table of the latest interest rates offered by leading banks and NBFCs for personal loans:
| Bank/NBFC | Interest Rate (p.a.) | Processing Fees |
| HDFC Bank | 10.50% – 21.00% | Up to 2.50% of loan amount |
| ICICI Bank | 10.75% – 19.00% | Up to 2.50% of loan amount |
| SBI | 10.90% – 16.40% | Up to 1.50% of loan amount |
| Axis Bank | 10.49% – 20.00% | Up to 2% of loan amount |
| Kotak Mahindra Bank | 10.25% – 19.99% | Up to 2.50% of loan amount |
| Tata Capital | 10.99% – 19.00% | Up to 2.75% of loan amount |
| Bajaj Finserv | 11.00% – 18.00% | Up to 3% of loan amount |
| IDFC First Bank | 10.49% – 20.00% | Up to 3% of loan amount |
| Fullerton India | 11.99% – 26.00% | Up to 3% of loan amount |
| PNB Housing Finance | 12.00% – 22.00% | Up to 2% of loan amount |
Tips to Minimize Personal Loan Costs
- Compare Interest Rates: Use our platform to compare rates from multiple lenders.
- Maintain a Good Credit Score: A high credit score ensures better rates.
- Negotiate Processing Fees: Many lenders are open to negotiations.
- Plan Prepayments Wisely: Evaluate the cost of prepayment charges before repaying early.
Why Choose Bravima Solution for Your Personal Loan?
At Bravima Solution, we simplify the loan application process and provide:
- Tailored Loan Options: We partner with leading NBFCs and banks.
- Transparent Guidance: Clear explanations of fees and charges.
- Competitive Interest Rates: Exclusive deals for our customers.
