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

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.

Interest 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:

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

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

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.

Instant Approval

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.

Flexible repayment options

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

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.

Proof of Income


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.

Mandatory documents

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.

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 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.