It is a matter of the fact that personal loans are often termed as unsecured loans. For this reason, the interest rate of personal loan is at all times higher than any other loans. In the present time, the leading banks offer personal loans at a rate of interest of 11.49%. The rate of interest depends upon several factors like the credit score of the applicant, level of income, amount of loan applied, and previous relationships with the bank like bank accounts, loans, and credit cards.