Type of fee

Applicable charges

Interest rate

10.5% p.a.

Processing fee

Rs. 999 or 1% of loan amount whichever is higher upto a maximum of Rs. 4999

Late Payment Interest

Penal Interest is charged @ 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 requested after taking loan)

NIL

Lien removal charges (if requested before taking loan)

Rs 500

Collection/legal Charges (in case of default)

At actuals