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
