Maximum loan amount: Most of our lending partners provide a loan of up to ₹15 lakh.
The minimum Annualized Percentage Rate (APR) is 9.75%
The maximum Annualized Percentage Rate (APR) is 24%
The interest rate varies based on your risk profile.
Flexible repayment tenure: 12 months to 60 months.
Entire repayment in 30 days or less is not allowed.
Our lending partners also charge a processing fee; that needs to be paid to get the loan processed and is usually 1.5%-2.5% of the loan amount.
Consider a Personal Loan of ₹1,00,000 at an interest rate of 13% per annum for a tenure of 12 months.
Processing fee is 2% of the loan amount = ₹2,000 + GST = ₹2,360
Line setup fee of ₹499 + GST = ₹588 to be paid before starting the credit line.
Then, the total interest payable is ₹7,181
The total amount payable is ₹1,10,129
The EMI will be ₹8,932