Floating or variable personal loan interest rates can change based on economic conditions. Initially, you may get a low-interest rate on your personal loan. However, because the repo rate influences floating rates, the lender can adjust the rates according to changes in the repo rate. As a result, the amount of interest you have to pay can vary during the entire loan repayment period.On the other hand, with fixed-rate loans, lenders charge you a consistent interest rate for the entire loan duration. This means your total interest payment and EMIs remain the same throughout the loan tenure. Therefore, the repo rate does not have any impact on the interest rate of fixed-rate loans.