There are immediate personal financial requirements that can come up at any moment in one’s life. Whether it is a wedding to be organised, a trip to your dream destination, higher education of children or any medical emergency, Lazypay provides personal loan of upto Rs. 1 lakh with great benefits in terms of repayment, online application, loan amount and disbursal.
LazyPay Personal Loan – Interest Rate
At LazyPay, you can avail instant personal loans online from 3 to 24 months at the following interest rates:
| Minimum | 18% |
| Maximum | 32% |
The interest rate offered by LazyPay to an individual is finalised after considering his credit score, age, income, employer, etc.
Factors that Affect LazyPay Personal Loan Interest Rate
- Credit score: This 3- digit numeric summary of your financial history is calculated by credit bureaus to determine your credit- worthiness. A credit score ranges from 300 to 850 but a credit score of 750 and above is considered good by the lenders. If your credit score is more than 750, you may get a lower interest rate from the lender
- Income: If your income increases, your affordability increases and hence the chances of repaying the loan on time also increases. Hence, the lenders offers lower interest rate to individuals with higher income as they see stability
- Reputed employer: When you work with a reputed employer, the lenders get an impression that you have a stable job and have more chances of repaying the loan on time. Hence, offers you a lower interest rate
LazyPay Personal Loan – Other Fees and Charges
Apart from the interest rate, LazyPay asks you to pay a processing fee of 2%. This fee would be applicable on the amount withdrawn.
FAQs
Q. What is the minimum personal loan amount that I can avail from LazyPay?
Ans. The minimum personal loan amount that can be avail through LazyPay starts from Rs. 10,000.
Q. What is the tenure to repay LazyPay personal loan?
Ans. The tenure to repay LazyPay personal loan varies from 3 to 34 months.
Q. How will I get an estimate of EMI that I would be paying each month?
Ans. You can easily calculate the EMI of LazyPay personal loan with the help of personal loan EMI calculator. All you need to do is to fill the loan amount, tenure and interest rate.
Q. How should I pay my EMI?
Ans. The easiest way to pay your LazyPay personal loan EMI is through the app that you can download from Google Play and App Store.