Rates & Terms

Interest/Fee
Upfront Processing Fee – To be deducted from approved amount starting from 400 + GST
Loan Foreclosure/Pre-payment Charges 0%
Rate of Interest 0.20% per day
Service Fee 0.68% per day + GST
Extension Fee 0.42% per day + GST
Late Payment Penalty 8.48% per week + GST

 

In case of payment, repayment or partial repayment, amount repaid will be adjusted as per below hierarchy:

  • Approval fee (deducted at time of disbursement)
  • Late payment fee (if in overdue status)
  • Overdue interest (if in overdue status)
  • Extension fee (if extension availed)
  • Service fee
  • Interest
  • Principal