Zip Personal Loan helps you repay your loan faster with a 1% p.a. interest rate reduction each year.
To be eligible for an annual rate drop, you need to make all minimum repayment amounts by the due date each month on your personal loan and any other accounts you hold with Zip within your anniversary year. The 1% rate reduction will be applied to your Zip Personal Loan variable interest rate¹ on the anniversary of your loan each year that you make all your repayments before the due date.
Your anniversary year starts when we fund your loan. If you miss a repayment under your loan agreement or on any of your other Zip accounts (Zip Pay, Zip Plus or Zip Money) you will not be eligible for the annual rate drop on the next anniversary date. However, you may be eligible in subsequent anniversary years by making all your repayments before the due date.
For example: If your minimum monthly repayment is $250 and your loan was funded on 3 March 2025 with a 12.5%p.a. variable interest rate, you need to make the minimum repayment of $250 every month through to the following February. You can choose to repay weekly or fortnightly, as long as you have met your minimum monthly repayment by the due date. On 3 March 2026 your variable interest rate will become 11.5%p.a. and your minimum monthly repayment will remain at $250.
¹The interest rate on the Zip Personal Loan ranges between 11.99%p.a. to 21.99%p.a. T&Cs and credit approval criteria apply. A monthly account fee of $9.95 and one-off establishment fee of $199 will apply. Interest, fees and charges subject to change. Credit provided by ZipMoney Payments Pty Ltd (ABN 58 164 440 993), Australian Credit Licence Number 441878.