New Delhi, June 23 -- Personal loans: This calendar year, Reserve Bank of India (RBI) has cut repo rates by 100 basis points, thus leading to lower interest rates on loans as well as fixed deposits. From home to car - several loan categories are set to get cheaper now.

However, the same may not be true forpersonal loans. These loans are given at fixed rates, therefore, theirinterest rates do not change during the tenure of loan. These are the interest rates offered on personal loans by banks in the private and public sector.

As personal loan interest rates tend to sway between two extremes, those borrowers whose credit score is high can procure loans at a low rate of interest. In contrast, borrowers with low credit scores are offered lo...