Loan Amount: Borrowers can request loan amounts between ` 25,000 (minimum) to ` 10,00,000 (maximum), in multiples of ` 5,000
Loan Tenure: Platform facilitates loans for the duration of minimum 3 months, and in subsequent multiples of months of 6, 9, 12,18, 24 and 36 months with 36 months being the maximum tenure.
Interest Rate: All rates displayed on the platform are in APR (Annual Percentage Rate) format. APR offered to borrowers will vary from case to case basis, as per their respective credit profiles. APR's on our platform will range from 9.49%(min) to 36%(max).
Repayment: All loans are paid through Equal Monthly Installments(EMI's), using reducing balance method, through an escrow mechanism.
Prepayment and foreclosure: Loans can be prepaid or foreclosed anytime during the tenure of the loan subject to certain charges & terms. For detailed charges for foreclosure within 3 months and for foreclosure beyond, please refer to our FAQs and our Fee Section.
Platform Fee: We charge a small processing fees to meet our expenses. Please visit our Fee section for a detailed description.
Example: If a borrower accepts a loan of ` 25,000 for a tenure of 12 months, at an APR (annual interest rate) of 12.00%, then the borrower will have an EMI of ` 2,221. Total interest payable is ` 1,654 and total amount payable is ` 26,654.