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loan-criteria

Sample Loan Calculation

This is an example calculation for a loan of ₹30,000 for 90 days at 30% interest rate.
Loan Amount : ₹30,000 at Interest rate of 30% p.a.
Loan Duration : 3 months
Total loan interest : ₹ 2,250
Processing fees (PF) + GST : ₹ 500 + ₹ 90 = ₹ 590
Total Deductibles : (PF + GST) - ₹ 590
In-Hand Amount: Loan Amount - Total Deductibles = ₹ 30,000 - 590 = ₹ 29,410
Total repayable Amount : (Loan Amount + Interest) - ₹ 32,250
Monthly EMI Repayable : (Loan Amount + Interest / No of EMI’s) - ₹ 10,750
PF + GST are deducted upfront during the loan disbursal.

Loan Criteria

The following loan criteria is followed by us.
Loan Amount - ₹40,000 to ₹2,00,000
Interest Rate - Up to 36% per annum
APR - 36% Max
Age - 21 to 55 years
Late payment fee - as applicable ( Charged only, If repayment is delayed )
Processing Fee - Up to 5%
Loan tenure - 90 days to 180 days
Pre-closure charges – As applicable