Piramal Finance offers Personal Loans with the lowest interest rate starts at 12.99%* per annum. However, the rate may vary depending on different factors.

Piramal Finance considers your work history, income level, and job stability to determine the ROI on personal loan. We will assess your experience, field knowledge, and other factors that may impact your ability to repay loans promptly.

A personal loan balance transfer allows you to move your existing debt from one loan provider to another. This can help you get the personal loan with low interest rates because the new loan provider could offer better terms and conditions. Additionally, this could result in reduced monthly payments and overall cost savings.

You can reduce effective interest rate on personal loan by making part payment. There are Zero charges for part payment at Piramal Finance, and you also have flexibility to decide the amount and timing of these payments, starting after the first month of your Personal loan.

For Example:

Let’s assume your Personal Loan Details are as below:
Loan Amount - ₹ 500,000
Loan Tenure – 5 Years
Monthly EMI – ₹ 11,374
Net Effective ROI – 12.99%

Your Monthly EMI Break-up will be –
1st Month EMI Break-up – ₹ 5,413 Interest + ₹ 5,961 Principal
6th Month EMI Break-up – ₹ 5,083 Interest + ₹ 6,291 Principal
7th Month EMI Break-up – ₹ 5,015 Interest + ₹ 6,359 Principal
Loan Balance at the End of the 7th Month - ₹ 456,890

Let’s see how Part Payment can help you in reducing the interest rate –
If you receive additional funds and choose to pay some extra amount as a part payment, for example ₹ 50,000 along with your EMI of ₹ 11,374 at the end of the 6th month, your Net Effective Rate of Interest will reduce, and you will be able to save more, as below:
1st Month EMI Break-up – ₹ 5,413 Interest + ₹ 5,961 Principal
6th Month EMI Break-up – ₹ 5,083 Interest + ₹ 56,291 Principal (₹ 6,291 actual principal amount + ₹ 50,000 your additional funds)
7th Month EMI Break-up – ₹ 4,473 Interest Rate + ₹ 6,901 Principal
Loan Balance at the End of the 7th Month - ₹ 406,348
Updated Net effective ROI – 9.92%
Updated Loan Tenure – 4 Years 5 Months
Savings – 3.07% on Total Interest that is ₹ 36,274