| Loan Amount | Rate 8% | Rate 9% | Rate 10% | Rate 12% |
|---|---|---|---|---|
| ₹5L — 5 years | ₹10,138 | ₹10,381 | ₹10,624 | ₹11,122 |
| ₹10L — 5 years | ₹20,276 | ₹20,762 | ₹21,247 | ₹22,244 |
| ₹20L — 10 years | ₹24,268 | ₹25,334 | ₹26,430 | ₹28,694 |
| ₹30L — 15 years | ₹28,663 | ₹30,428 | ₹32,238 | ₹36,007 |
| ₹50L — 20 years | ₹41,822 | ₹44,986 | ₹48,251 | ₹55,054 |
| Factor | Weightage | How to Improve |
|---|---|---|
| Payment history | ~35% | Pay ALL bills on time — set auto-pay. Even 1 default hurts for 2+ years |
| Credit utilisation | ~30% | Keep credit card used < 30% of total limit. Pay before statement date |
| Credit age | ~15% | Keep old credit cards open even if unused. Age matters |
| Credit mix | ~10% | Mix of secured (home/auto loan) + unsecured (credit card) = better score |
| New inquiries | ~10% | Avoid multiple loan/card applications in short period (hard enquiries) |
| Loan Type | Rate (approx) | Tenure | Tax Benefit | Notes |
|---|---|---|---|---|
| Home Loan | 8.5–9.5% | Up to 30 yrs | Sec 24(b): ₹2L interest; 80C: ₹1.5L principal | Lowest rate loan. Floating rate recommended |
| Car Loan | 8.5–10% | 3–7 years | None (personal use) | Depreciation reduces car value; EMI > car value in last years |
| Personal Loan | 10–24% | 1–5 years | None | Expensive. Use for emergency only. Avoid for gadgets/holidays |
| Education Loan | 9–12% | Up to 15 yrs | Sec 80E: full interest, 8 years | Moratorium during study + 1 yr. Best for high ROI courses |
| Gold Loan | 9–12% | 3–24 months | None | Cheapest way to borrow fast. Use gold as collateral, get cash |
| Credit Card EMI | 14–24% | 3–24 months | None | Expensive — only use 0% EMI offers from bank promos |