New Delhi, Sept. 2 -- If you are planning to take a personal loan this month, one of the first things you should compare is the interest rate. Even a small difference in rates can change your EMI by thousands of rupees over the loan tenure. Along with the rate, you should also check processing charges, repayment tenure, and ongoing offers before deciding.

For example, if you apply for a five-year personal loan of Rs.5 lakh, the monthly EMI can vary widely depending on the bank, your credit score, repayment history, and financial profile. Careful comparison helps you secure the lowest rate and manage repayments without stress.

Note: Interest rates and fees discussed above are illustrative and may vary based on individual profiles, loan a...