Type of fee

Applicable charges

Rate of interest

11% to 35% p.a. 

Processing fees 

Up to 3.93% of the loan amount (inclusive of applicable taxes). 

Term Loan – Not applicable
Flexi variant - A fee will be deducted upfront from the loan amount (as applicable below)
 

• Up to Rs. 1,999/- for loan amount less than Rs. 2,00,000

• Up to Rs. 3,999/- for loan amount from Rs. 2,00,000 to Rs. 3,99,999

• Up to Rs. 5,999/- for loan amount from Rs. 4,00,000 to Rs. 5,99,999

• Up to Rs. 7,999/- for loan amount from Rs. 6,00,000 to Rs. 9,99,999

• Up to Rs. 8,999/- for loan amount from Rs. 10,00,000 to Rs. 14,99,999

• Up to Rs. 9,999/- for loan amount from Rs. 15,00,000 to Rs. 19,99,999

• Up to Rs. 10,999/- for loan amount from Rs. 20,00,000 to Rs. 24,99,999

• Up to Rs. 11,999/- for loan amount from Rs. 25,00,000 to Rs. 29,99,999

• Up to Rs. 12,999/- for loan amount of Rs. 30,00,000 and above

  *All the Flexi charges above are inclusive of applicable taxes

  *Loan Amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.

Bounce charges

Rs. 700 – Rs. 1200 per bounce.

Part-prepayment charges

Full prepayment

• Term Loan: Up to 4.72% (Inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.

• Flexi Term Loan (Flexi Dropline): Up to 4.72% (Inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

• Flexi Hybrid Loan: Up to 4.72% (Inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as of the date of full payment.

Part-prepayment

• Term Loan: Up to 4.72% (Inclusive of applicable taxes) of the principal amount of the loan pre-paid on the date of such part-prepayment.

• Not Applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid.

*Foreclosure will be processed post clearance of first EMI

Penal interest 

Any delay in payment of monthly instalment/ EMI shall attract penal interest at the rate of 3.50% per month on the monthly instalment/ EMI outstanding from the date of default until the receipt of the monthly instalment/ EMI.

Stamp duty

Payable as per state laws and deducted upfront from loan amount.

Mandate rejection charges

Re. 1 (inclusive of applicable taxes) applicable in case of UPI mandate registration.

Rs. 450 from the first month of the due date for the mandate rejected by customer’s bank until the registration of new mandate. 

Annual maintenance charges 

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (Inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 0.295% (Inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (Inclusive of applicable taxes) of total withdrawable amount during subsequent tenure.

Broken period interest / Pre-EMI Interest

Broken period interest/ Pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:
• For Term Loan: Deducted from the loan disbursement
• For Flexi Term Loan: Added to the first instalment
• For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed. 

Switch fee

Up to 1.18% of the loan amount (inclusive of applicable taxes).

Switch fee is applicable only in case of switch of loan. In switch cases, processing fees will not be applicable.