Schedule of Charges
| PARTICULARS | CHARGES * |
| Effective Rate Of Interest | 10.25% p.a. (on utilized amount) |
| Penal Charges | 15.00% P.A. + taxes on the overdue amount for the default period** |
| Loan Tenure | Fixed Processing Fee |
| 1 Year | ₹999 |
| 2 Years | ₹1,299 |
| 3 Years | ₹1,499 |
|
The loan accounts will have a fixed tenure and cannot be renewed on maturity. All outstanding dues must be repaid by the maturity date. Any unpaid amount after maturity will be treated as overdue. |
|
| Stamp Duty (Loan Booking) | ₹500 |
| Prepayment/ Foreclosure Charges | ₹0 |
| Bank Mandate Swap Charges | ₹500 |
| Top Up/Security Withdrawal Charges | ₹500 |
| Bounce Charges | ₹500 |
| Security Invocation Charges (in case of default) | ₹2,000 |
| Collection Charges (in case of default) | ₹5,000 |
| Legal Charges (in case of default) | ₹5,000 |
* Taxes as applicable.
**Applicable for new loans approved on or after 20th March 2024. The applicable penal charges on existing loans, shall be updated on our mobile application, website and also communicated over Email & SMS to all such borrowers, not later than 30th June 2024.