Every rate and charge, written down
Interest is charged on the reducing balance. The only charges that can apply are the ones listed in your Key Fact Statement and loan agreement.
Interest rate by loan type
| Loan type | Rate (p.a.) | Tenure |
|---|---|---|
| Salaried Personal Loan | 10.99% – 18.5% | 12 – 60 months |
| Self-Employed Loan | 13% – 22% | 12 – 60 months |
| Medical Emergency Loan | 11.5% – 20% | 6 – 48 months |
| Wedding Loan | 12% – 21% | 12 – 60 months |
| Education & Skill Loan | 11.5% – 19% | 12 – 60 months |
| Home Renovation Loan | 11.5% – 20% | 12 – 60 months |
Rates are indicative ranges and may change. Your own rate is fixed in your KFS.
What decides your rate
The bars show relative importance for explanation only. They are not scores or weights.
How your score moves your rate
A higher bureau score usually means a lower rate. These bands are indicative and for understanding only.
| Credit score band | Salaried (p.a.) | Self-employed (p.a.) |
|---|---|---|
| 750 and above | 10.99% – 13.5% | 13% – 15.5% |
| 700 – 749 | 13.5% – 16% | 15.5% – 18.5% |
| 650 – 699 | 16% – 18.5% | 18.5% – 22% |
| Below 650 or no history | Case by case | Case by case |
Medical, wedding, education and renovation loans fall within the ranges shown on the loan pages.
Everything that can be charged
Charges are shown in the Key Fact Statement before you accept the loan. If something is not in your KFS, it cannot be charged.
| Charge | What applies |
|---|---|
| Processing fee | Up to 2% of the sanctioned amount plus GST at the prevailing rate. On a ₹5,00,000 loan, 2% is ₹10,000 plus ₹1,800 GST. Deducted at disbursal. |
| Documentation / stamp duty | As per your state's stamp duty, charged at actuals. |
| EMI bounce charge | A flat fee per failed instalment as stated in your agreement, plus your bank's charge if any. |
| Penal charge on late payment | Applied only on the overdue amount, never added to the principal to earn more interest. Disclosed in the KFS and shown separately from interest. |
| Part-payment / foreclosure | No charge on floating-rate loans to individuals for non-business purposes. For fixed-rate loans, any charge is stated in the KFS. |
| Statement, NOC, repayment schedule | Free, on request. |
| Optional insurance | Never mandatory and never added without your written consent. |
Find the real yearly cost
Enter the loan details from any lender. APR counts the fees too, so it is the fair number to compare.
Approximation using monthly compounding. The APR in your KFS is the official figure.
Why the interest part shrinks every month
With reducing-balance interest, each month's interest is the monthly rate times the principal still unpaid. Here are the first three months of a ₹5,00,000 loan at 12.5% for 36 months.
| Month | EMI | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | ₹16,727 | ₹11,518 | ₹5,208 | ₹4,88,482 |
| 2 | ₹16,727 | ₹11,638 | ₹5,088 | ₹4,76,843 |
| 3 | ₹16,727 | ₹11,760 | ₹4,967 | ₹4,65,083 |
EMI ₹16,727
Fixed every month for the whole tenure.
Interest ₹1,02,165
Total interest over 36 months.
Fee + GST ₹11,800
Deducted at disbursal, so you receive ₹4,88,200.
APR 14.17%
The yearly cost once the fee is counted.
What happens if an EMI is missed
- Penal charge: applied only on the overdue amount at the rate stated in your KFS, add your penal charge rate. It is not added to principal.
- EMI bounce fee: a flat fee if your bank returns the auto-debit, plus the bank's own charge.
- Credit score: late payments are reported to credit bureaus and can lower your score.
- Respectful contact: reminders and calls only between 8:00 am and 7:00 pm.
Ready when you are
Work out your EMI, read the terms, and apply only when the numbers feel right. Our team will explain anything you are unsure about.