Current Interest Rate

Illustration of total cost of a personal loan

• The annual percentage rate (APR) of a personal loan vary from : 10.50% to 36% (Annual Rate) depending upon the profile of the client,the company he works for and his credit score.
• Repayment Period: Minimum of 12 months (1Year) to maximum of 60 months(5 Years).
• Processing Fee : Depending upon lenders the processing fees of a personal loan vary from 1%-4% of the loan amount + GST. Eg: For a personal loan of 1 lakh the processing fees will be 1000 -4000 + GST depending upon lenders. The procesing fees is adjusted in the loan amount Eg: If loan amount is 1 lakh Processing fees is 2% so net amount after disbursement will be Rs 98000
• Representative Example:, if you take a loan of Rs. 1 lakh at the rate of 16% with repayment tenure of 3 years, your EMI will be Rs 3,516. The total payable amount at the end of 3 years would be Rs 1,26,565. Therefore, you are paying total interest amount to the tune of Rs 26,565. This, however, excludes other applicable charges which are documentation charges and processing charges:
• Pre Payment Charge:Option to pre pay a loan may or may not be available depending upon the lender.The charges of pre payment also vary from bank to bank. The charges of pre payment vary from 0% - 4% of principal a,ount out standing + GST
• No fees is charged or payble to us .