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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.
Example
Consider a 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