Schedule of Charges
PARTICULARS | CHARGES * |
Effective Rate Of Interest | 10.5% 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.