Schedule of Charges

Effective Rate Of Interest 9.5% p.a. (on utilized amount)
Penal Charges 15.00% P.A. + taxes on the overdue amount for the default period**
Processing Fee (Loan Booking) ₹999
Stamp Duty (Loan Booking) ₹500
Prepayment/ Foreclosure Charges ₹0
Annual Renewal Charges ₹999
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. 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.