Explore the fees and charges on a Personal Loan

Type of fee

Applicable charges

Rate of interest

10% to 31% 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, and VAS charges.

Bounce charges

In case of default of repayment instrument, Rs. 700 - Rs. 1,200 per bounce will be levied.

Full Prepayment

• Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
• 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 prepayment.

Part-prepayment

• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of the loan prepaid 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 Charge

Delay in payment of instalment(s) shall attract penal charge of Rs. 8 - Rs. 12 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty

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

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.

Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:

EMI Date : 2nd

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:

For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement
For Flexi Loans: BPI amount will be capitalised, i.e added to Principal amount on Due date / Added to first instalment

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:
First instalment will consist of interest for actual number of days

EMI Date : 7th

Scenario 1: If Loan is disbursed on 1st to 6th or post 10th of the month:

For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on Due date / Deducted from disbursement
For Flexi Loans: BPI amount will be capitalised, i.e added to Principal amount on Due date / Added to first instalment

Scenario 2: If Loan is disbursed between 7th and 10th of the month:
First instalment will consist of interest for actual number of day