Rates & Terms

Interest/Fee
Upfront Processing Fee – To be deducted from approved amount 5% (including GST)
  
Origination Fee 8% (including GST)
  
Loan Foreclosure/Pre-payment Charges 0%
  
Rate of Interest 0.20% per day (72% annualized)
  
Collection Fee Starting from 0.1% (including GST) per day
  
Extension Fee 0.42% per day + GST
  
Late Payment Penalty 3.39% 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)
  • Origination Fee (deducted at time of disbursement)
  • Extension Fee ( if extension availed)
  • Interest
  • Principal
  • Overdue Interest ( if in overdue status)
  • Late Payment fee( if in overdue status)
  • Collection Fee