IMPORTANT TERMS & CONDITIONS
Interest Rate & Loan Tenure: Annual Percentage Rate min. 10.45% to max. 28% | Repayment over 12 to 84 months
For example, if you take a loan of Rs. 4.5 lakhs at the rate of 15.5% with repayment tenure of 3 years, your EMI will be Rs. 15,710. The total payable amount at the end of 3 years would be Rs. 5,65,553. Therefore, you are paying total interest amount to the tune of Rs 115,553. This, however, excludes other applicable charges which can be quantified as under:
Loan Processing Charge@2% = Rs.9000
Documentation charges = Rs. 500
Amortization Schedule charges = Rs. 200
In case of change of payment mode or swapping your Post Dated Cheques, additional charges are applicable. Also, depending upon the lender bank, prepayment options may or may not be available and the applicable charges may vary accordingly.
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