Interest Rates

The interest rates for borrower loans is decided by the borrower and lender. Lenders make offers to borrowers at a rate that they are comfortable to lend based on lender's assessment of the borrower profile. Lenders make informed choice by assessing borrower's loan listing which provides information about the borrower such as loan purpose, loan amount and tenure, borrower's explanation of why he is creditworthy borrower and other information such as employer, years of work experience, education, monthly income, expenses, ongoing EMIs etc.

Fees 

The following fees are applicable to borrowers:

          A one time, non-refundable fee of Rs. 500 is charged to all borrowers. This is charged at the time of registration. See Terms & Conditions.

          3% of the loan amount. This is charged at the time of loan disbursal.

          There are no pre-payment charges levied on the borrower except the below conditions:

           - 2% of outstanding principal amount if a 12 month loan is pre-paid within 3 months

           - 3% of the outstanding principal amount if a 24 month loan is pre-paid within 6 months

           - 3% of the outstanding principal amount if a 36 month loan is pre-paid within 6 months

All EMIs will be presented on 7th working day of the month and late payment charges 24% p.a.  on the overdue amount, subject to a minimum amount of Rs. 100

          For any of the above bounce, a fee of Rs.250/- will be charged on each bounce.

          For any change in the mode of payment or replacing cheques, a fee of Rs.500 will be charges for every such instance.

          All loan agreements will be stamped and the cost of this duty will be charged on actuals. This will be collected at the time of processing fee collection.

          This is applicable in the event of default by the borrower on actuals.

           Nil

           This will be available online and no charges will be levied.

           This will be available online and no charges will be levied.

           As applicable