Loan Terms

Loan term: Loan term depends upon the type of loan you choose and the lender’s offer loan term

Credit line – 62 days to 9 months
Microloan – 3 months to 12 months
Personal Loan – 9 months to 60 months
Business loan – 24 months to 36 months
Housing Loan – 120 months to 240 months
Loan Against Property – 120 months to 180 months
Bill Discounting – 90 days to 180 days
Over Draft – 60 months to 180 months
Credit Cash facility – 60 months to 180 months

Interest rate: The percentage of the loan amount you pay in interest each year.

Credit line – 18% to 28%
Microloan – 24% to 28%
Personal Loan – 11% to 28%
Business loan – 16% to 28%
Housing Loan – 8.45% to 15%
Loan Against Property – 9.40% to 15%
Bill Discounting – 12% to 16%
Over Draft – 9.5% to 16%
Credit Cash facility – 9.5% to 16%

APR: The annual percentage rate includes the interest rate and other fees.

Maximum APR in any loan is less than 35%

Monthly payment: The money you pay monthly to repay the loan.

Depend upon the type of loan you choose, e.g.

If a customer is eligible for the loan amount of 1,00,000 as a Personal Loan.

Key Fact Statement

Term	Term Meaning	Key Fact Figures
Amount	Sanction Amount	1,00,000
ROI	Rate Of Interest	20.55
APR	Annual Percentage Rate	24.55
Period	Tenure Of Loan	12
Monthly EMI	Frequency	10,046.25
Total Interest	Total interest charges during tenure	20,555
Processing Fee	2% of the Sanction Amount	2,000
Documents Charges	1% Of Sanction Amount	1000
Gateway & Transaction Charges	1% Of Sanction Amount	1000
Loan Amount	Disbursed Amount	96000
Total Payment	Total Payment Including Interest	1,20,555
Penalty	Bouncing Charges	590
Penal Interest	Delay Payment	118/day

EMI Sheet

Month	Principal	Interest	Balance
1	7,046	3,000	92,954
2	7,257	2,789	85,696
3	7,475	2,571	78,220
4	7,699	2,347	70,520
5	7,930	2,116	62,589
6	8,168	1,878	54,420
7	8,413	1,633	46,006
8	8,666	1,380	37,340
9	8,926	1,120	28,414
10	9,194	852	19,220
11	9,469	577	9,750
12	9,754	292	0

Down payment: The amount of money you pay upfront reduces the loan amount you need to borrow.

Credit line – No Down Payment
Micro loan – No Down Payment
Personal Loan – No Down Payment
Business loan – No Down Payment
Housing Loan – Required to do 20% down payment to the seller of property
Loan Against Property – No Down Payment
Bill Discounting – No Down Payment
Over Draft – No Down Payment
Credit Cash facility – No Down payment

Collateral: Something of value you pledge to the lender if you default on the loan.

Credit line – No (Unsecured Loan)
Micro loan – No (Unsecured Loan)
Personal Loan – No (Unsecured Loan)
Business loan – No (Unsecured Loan)
Housing Loan – Yes (Secured Loan)
Loan Against Property – Yes (Secured Loan)
Bill Discounting – Yes (The bank pledges Your Invoice)
Over Draft – Yes (Secured)
Credit Cash facility – Yes (Stock & Property)

Prepayment penalty: A fee charged if you pay off the loan early. (PARTIAL EXTR AMOUNT TO PAID TO BANK EXTRA FROM EMI)

Depend upon lender to lender

Credit line – NO
Micro loan – NO
Personal Loan – NO
Business loan – NO
Housing Loan – NO (UPTO NOT MORE THAN 25% OF LAON AMOUNT IN A YEAR)
Loan Against Property – NO (UPTO NOT MORE THAN 25% OF LAON IN A YEAR)
Bill Discounting – NO
Over Draft – NO
Credit Cash facility – NO

Early repayment: The ability to pay off the loan early without penalty. (FORECLOSURE)

DEPENDS UPON THE LOAN AND LENDER

Credit line – 2% TO 7%
Microloan – 2% to 7%
Personal Loan – 2% to 7%
Business loan – 2% to 7%
Housing Loan – NIL
Loan Against Property – 2% to 4%
Bill Discounting – NIL
Over Draft – NIL
Credit Cash facility – NIL

The specific loan terms will vary depending on the type of loan, the lender, and your credit history.