BizSugar.com › Finance › Here\'s why personal loans might become cheaper following the latest RBI\'s move

Personal loans are unsecured loans that are offered to borrowers without any collateral and therefore banks have to be extremely cautious at the time of lending them. The interest rate varies from bank to bank depending on your risk profile, credit score, occupation, source of income and other factors. However, with the RBI’s latest moves, the rate of interest on a personal loan is also likely to see a fall. To get a loan at best interest rate you can apply for a personal loan online in India.