Type of fee

Applicable charges

Interest rate

10.75% p.a.

Processing fee

₹999 or 1% of loan amount whichever is higher upto a maximum of ₹4999 (GST applicable)

Example -

- loan less than 1 lakh: ₹999 + GST

- loan between 1 to 5 lakh: 1% of sanctioned amt + GST

- loan greater than 5 lakh: ₹4999 + GST

Late Payment of Interest (after bounced auto-debit)

Penal interest is charged at 2% per month

Bounce charges (for failed interest payment)

Rs 1200 per bounce

Annual Renewal Charges

NIL

Part-prepayment charges

NIL

Foreclosure charges

NIL

Mandate inactive charges

NIL

Mandate verification (charged by your bank)

As charged by your bank (typically between Rs. 0 to Rs. 150)

Lien removal charges (if cancellation requested after taking loan)

NIL

Lien removal charges (if cancellation requested before taking)

Actual processing fee applicable

Collection/legal Charges (in case of default)

At actuals