Schedule of Charges

Effective Rate Of Interest Interest Rates from 14% p.a. onwards
Penal Charges 2.00% per month + taxes on the overdue amount for the default period
Processing Fee (Loan Booking) 2.5% to 3.5% of loan amount. PF will be deducted from the loan amount & net amount will be disbursed
Stamp Duty (Loan Booking) ₹200
Prepayment/ Foreclosure Charges ZERO Foreclosure charges post lock-in period**
Bank Mandate Swap Charges ₹500
Bounce Charges ₹500
Collection Charges (in case of default) Upto ₹2000 + taxes per instance
Legal Charges (in case of default) On actuals

* Taxes as applicable.

** Maximum pre-payment allowed during the lock-in period is the equivalent of one EMI amount. If the loan is closed during the lock-in period, 6 months of interest amount will be applied to the account.