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Rate and Terms

Home Rate and Terms

How is the Annual Percentage Rate (APR) calculated?

The APR is calculated based on factors such as your credit score, the loan amount you wish to borrow, and your regular income. Generally, a good CIBIL score will result in a lower APR, while a poor score may result in a higher APR. But some lenders may have a fixed APR for all their loans, regardless of the credit score.

How Our Rates and Fees Work?

The APR (Annual Percentage Rate) represents the complete cost of borrowing money. It includes the annual interest rate, a nominal processing fee, and other miscellaneous expenses. The APR is typically lower than credit card interest rates. It is the actual annual cost of the loan that helps you compare different loan offers from various lenders. Our company offers a fixed APR rate of 35% per annum.

Representative Example

Loan Amount APR Tenure Processing Fee GST on Processing Fee (Exclusive) Amount Disbursed EMI Total Repayment Amount Total Interest
50,000 35% 12 Months 1,000 180 48,820 4,998 59,978 9,978