Rates & charges
The same terms apply to every loan type. All figures are indicative and are not an offer of credit.
Schedule of charges
| Interest rate | From 10.5% p.a. (fixed, reducing balance) |
|---|---|
| Processing fee | Nil |
| Part-prepayment | Nil after 6 EMIs |
| Foreclosure | Nil after 6 EMIs |
| Late payment | 2% per month on the overdue EMI |
| Cheque / mandate bounce | ₹500 per instance |
| Stamp duty | As applicable under state law |
Loan amounts and tenures
| Product | Loan amount | Tenure | Interest rate |
|---|---|---|---|
| Personal loan | ₹50,000 – ₹25 lakh | 12 – 60 months | From 10.5% p.a. |
| Home loan | ₹5 lakh – ₹1 crore | Up to 30 years | From 10.5% p.a. |
| Vehicle loan | ₹1 lakh – ₹30 lakh | 12 – 84 months | From 10.5% p.a. |
| Education loan | ₹1 lakh – ₹75 lakh | Up to 15 years | From 10.5% p.a. |
| Business loan | ₹2 lakh – ₹1 crore | 12 – 120 months | From 10.5% p.a. |
Representative examples at 10.5% p.a.
| Loan amount | Tenure | Monthly EMI | Total interest | Total payable |
|---|---|---|---|---|
| ₹1,00,000 | 12 months | ₹8,815 | ₹5,778 | ₹1,05,778 |
| ₹5,00,000 | 36 months | ₹16,251 | ₹85,044 | ₹5,85,044 |
| ₹10,00,000 | 60 months | ₹21,494 | ₹2,89,634 | ₹12,89,634 |
| ₹25,00,000 | 120 months | ₹33,734 | ₹15,48,050 | ₹40,48,050 |
| ₹50,00,000 | 240 months | ₹49,919 | ₹69,80,559 | ₹1,19,80,559 |
Calculated on a reducing balance with equal monthly instalments. Excludes stamp duty and any applicable taxes.