Interest Rates & Fees
Borrower
Registration Fees | NIL |
Loan Processing Charges (Inclusive of Insurance) | 4% of Loan Amount (Chargeable at The Time of Disbursement). |
Prepayment Charges i-NIL Subject to following conditions and on % on principal outstanding amount as given in the table | 2% - if 1 yr. loan tenure is pre-paid in 3months. 3% - if 2yr. loan tenure is pre-paid in 6 months. 3% - if 3yr. loan tenure is pre-paid in 6 months. |
Late Payment Charges | 24% of overdue amount subject to minimum amount of ₹ 100/-. |
Repayment Instruction Swap Charges | Change in Mode of payment ₹ 500/- for every such instance. |
Charges for Cheque/ECS/SI/NACH Bounces | ₹ 250/- charges will be levied on each bounce. |
Documentation Charges | NIL |
Legal/Collection Charges | Will be applicable in event of default by the borrower on actuals. |
Stamp Duty | Charged on actual and will be collected at the time of PF collections. |
Lender
Registration Fee | Lender need to pay Non-refundable fee of Rs.1000/- per 1 lakh. |