New Delhi, Oct. 7 -- Personal loans provide applicants with quick availability of funds to meet expenses such as medical emergencies, education, home renovation, etc. Still, these loans come with several charges, processing fees, and associated complications that borrowers must clearly understand before applying for any specific personal loan product to avoid surprises later on.

Furthermore, understanding these fees helps in more efficient management of personal loan costs and repayment plans. Now, before going ahead, let us also first look at the current personal loan interest rates as applicable currently. They are briefly discussed below:

Source: Bank websites

Note: The interest rates and processing charges mentioned above are illus...