New Delhi, March 3 -- If you are planning to raise a personal loan, one of the key things that you should consider is the interest rate at which the loan is offered. This directly influences the monthly instalment, which is also referred to as EMI (equated monthly instalment).

An EMI is a function of several factors including credit score, amount of loan, salary of borrower and the category of employer i.e., government, PSU, large corporate or SME.

For instance, someone who has a job in a small and medium sized company with a low credit score is likely to get a loan at a higher rate of interest in comparison to the other borrower who has a high-paying job in a large listed company and also boasts of a high credit score (say 700 and abov...