Personal Loan Interest Rates & Charges @ 1.5%* p.m.

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Getting instant access to money has become easier than ever. Whether you’re out of money during an emergency or just want to splurge a little extra on a vacation, a personal loan is all you need. But an important factor that makes a personal loan affordable is the interest charged on it.

The interest rate on the personal loan depends on many factors like your credit score, repayment history and credit report. The stronger your credit profile, the lower interest you will have to pay.

Looking for minimum interest loans? On personal loan from Zype you can get personal loan up to ₹5 lakhs starting at just 1.5% per month.

You can complete your application in less than 8 minutes, get approved within 60 seconds and get the money in your account on the same day. Borrow the money you need now and pay later in flexible EMIs.

Types of Personal Loan Interest Rates

When you’re applying for a personal loan, you may come across two types of interest rates:

Fixed Interest Rate

A fixed interest rate is the one that remains constant throughout the loan tenure. This means that your EMI amount will not change at any given point.

An advantage of choosing a personal loan with a fixed interest rate is that you can plan your budget in advance.

Approval and Disbursal

Floating Interest Rate

A floating interest rate is one that is linked to a base rate decided by the RBI & can be affected due to various economic factors. That means the interest you pay on your loan could fluctuate when your base rate changes.

Zype offers low interest personal loans that have a fixed interest rate starting at just 1.5% per month.

No Collateral Required​

Personal Loan EMI Calculator

Loan Amount (in rupee)



Interest Rate (in %)



Loan Term (in months)



Total Interest Payable

Total Payment
(Principle + Interest)

Your EMI is

How to Calculate Personal Loan Interest Rates

The personal interest rate you’re charged on the loan is based on your credit profile.

If you have a good credit score, clean repayment history and a strong credit profile, you can get a low interest personal loan.​

It’s always better to calculate your personal loan EMIs before taking the loan. You can compare offers across various lenders, plan your budget better and even be prepared for any unexpected expenses.

Use this formula to calculate your EMIs.

E = P x R x (1+R) ^N / [(1+R) ^N-1], where

P is the principal or loan amount

E is your personal loan EMI amount

R is the monthly interest rate

N is the no. of months of EMI payment

Factors that Affect Personal Loan Interest Rates

If you want to get the lowest personal loan interest rate, it’s important to know the factors affecting them.



Your monthly income plays a significant role in determining your personal loan interest rate. If you have a high and steady income, you can get higher loan amounts at lower interest rates.


Repayment History

One of the first things that your lender will see before giving you a personal loan is your repayment history. If you pay all your EMIs on time, you can easily get low interest personal loans.

Proof of photo identity

Credit Score

If you want the best personal loan interest rates, make sure you have a good credit score. This is because it increases your credibility as a borrower and shows that you have experience handling credit.

Personal Loan Interest Rates Comparison With Applicable Charges Comparison

When looking for the best personal loan options, it’s essential to consider various factors such as interest rates, processing fees, and additional charges. Zype stands out by offering one of the lowest personal loan interest rates in India, making it an attractive choice for borrowers seeking affordable financial solutions. Our current personal loan interest rates range from 1.5% per month, translating to an effective annual rate that remains competitive in the market.

Zype is designed to provide a personal loan with less interest, especially for applicants with a high credit score. Our streamlined process ensures minimal documentation, instant approval, and flexible repayment terms. This makes borrowing money straightforward and stress-free. With Zype, you can enjoy the convenience of having your loan processed quickly, often within minutes, and funds disbursed in as little as 6-10 hours.

Understanding why the interest rate on a personal loan is crucial for calculating the total cost of borrowing. For example, if you borrow ₹5 lakhs from Zype at an interest rate of 1.5% per month for a tenure of 12 months, the monthly interest would be ₹7,500. This results in a total interest payment of ₹90,000 over the year, bringing the total repayment amount to ₹5,90,000.

When conducting a personal loan interest rates comparison, Zype’s transparent approach to charges and fees sets us apart. Our processing fees are competitive, typically ranging between 2% to 6% of the loan amount. Additionally, we provide clear information about any pre-closure charges, ensuring you are fully aware of all costs involved.

How to Get the Lowest Personal Loan Interest Rate?

Securing the lowest personal loan interest rate in India is achievable with the right strategy and tools. Understanding the factors that influence these rates and comparing different offers is key. Currently, personal loan interest rates in India range from 8.5% to 24%, depending on the lender and the borrower’s credit profile. To find a personal loan with less interest, maintaining a good credit score is crucial as it significantly impacts the interest rate on a personal loan.

Zype makes the process of comparing personal loan interest rates simple and efficient. Our app allows you to compare different options and choose the best rate available, ensuring you find the most favorable terms. Additionally, consider the tenure and loan amount, as these factors also affect the rates. For example, shorter loan tenures generally attract lower interest rates. With Zype, you can easily check for any additional fees or charges that might increase the overall cost of the loan.

Using Zype, you can effectively secure a personal loan with the most favorable terms. Our commitment to providing competitive rates and a user-friendly experience makes Zype the ideal choice for obtaining the lowest personal loan interest rate in India.

Current Interest Rates on Personal Loan from Zype

If you want the lowest personal loan interest rate, then download Zype! You can get up to ₹5 lakhs starting at just 1.5% interest per month.

Refer to this table to understand all the applicable charges on your personal loan:

Minimalist Table
Type of Credit Facility Interest Rates and charges applicable
Personal Interest rate Starting at as low as 1.5%(monthly)
Processing Charges Processing fees from 2% to 6% on every loan
Late Charges Penal interest & late fees will be charged to your total outstanding loan on daily basis

Step-by-Step Guide to Apply for a Personal Loan

If you want to take a low rate of interest loan and want a repayment tenure of at least 2 years, you should apply with a bank.

But if you’re looking for an small instant loan at a low interest rate and short repayment tenure, choose Zype! You can apply for a personal loan with minimum interest rate in these 6 simple steps.

1) Download the Zype app from Play Store/AppStore & create your account.

2) Complete the application by adding your PAN number along with some other basic details like your name & phone number.

3) Get approved for a credit line within 60 seconds based on your credit profile.

4) Add your Aadhaar number & do a selfie verification to complete your KYC to unlock your credit line.

5) Select your desired loan amount & EMI option.

6) Get the money directly in your account on the same day.

Frequently Asked Questions

What is a Good Interest Rate on a Personal Loan?

The personal loan interest rate in India can range between 8.75% to 49.5% per annum. If your credit score is above 800, anything between 12% to 24% is considered a good interest rate, depending whether you’re borrowing from an NBFC or bank.

Is 12% Interest on a Personal Loan Good?

Yes, 12% interest on a personal loan is very good. The best personal loan interest rates in India are between 12% to 24%. But before finalizing your lender, you should always look at the current personal loan interest rates.

How is the Personal Loan Interest Rate Calculated?

Your personal loan interest rate is calculated based on many factors like your credit score, repayment history and credit profile.

How to Get the Lowest Interest Rate on a Personal Loan?

Want the lowest interest rate on a personal loan? Then download the Zype app! You can get up to ₹5 lakhs starting at just 1.5% interest per month.