A Personal Loan helps you address various personal finance needs conveniently. Major expenses often come up without warning, so don’t let them drain all your savings. Here are some common scenarios where you can take Personal Loans:
| Type of Charges | Amount |
|---|---|
| Interest Rate % | 11.50%* onwards |
| Penal Charges, if any, in case of delayed payments | Default in Interest or Principal payments 3% per month on defaulted amount (Annualized Penal Charge of 36%) |
| Dishonour of any cheque/ payment instruments | Rs. 600 per instrument per instance |
| Mandate Rejection Service Charge | Rs. 450 |
| Processing Fees | Up to 3.5% of the loan amount + GST |
| Annual Maintenance Charges- Hybrid Term Loan | 0.25% of dropline amount OR Rs.1000, whichever is higher shall be payable at the end of the 13th month. |
| Statement of Accounts Charges | This is a charge applied for providing a physical copy of the Statement of Account. You will be charge Rs. 250 + GST for physical copy. Downloading a statement of account on the portal is free of cost. |
| Loan Cancellation Charges | 2% of the Loan Amount/ Facility amount OR Rs. 5750/- (whichever is higher) |
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