New Delhi, Oct. 10 -- Are you looking for a personal loan? Have you devised a plan to repay the borrowed funds? This is important because borrowing funds is just the first step in the process. Further, personal loan interest rates can vary widely across lenders, affecting both the monthly EMI and the overall cost of borrowing.

As of today, the rates listed by 22 prominent lending institutions range from 8.90% to 30.50%, depending primarily on the lending institution, the borrower's profile, the loan tenure, and a host of other factors.

For example, for a Rs.5 lakh personal loan with a 5-year tenure, the EMI starts at Rs.10,355 at Axis Bank and Union Bank of India, as per data compiled by Paisabazaar. Bajaj Finserv, on the other hand, ha...