Rates and Terms

RATES & TERMS CHARGED BY LENDER

Minimum Loan Amount INR 500
Maximum Loan Amount INR 30,000
Rate of Interest 1.5% per day (Annualized rate of interest 547.5%)
Processing Fee 8% from approved amount plus applicable GST
Auto-Debit Fee (On bank side) Varies from bank to bank
Bounce Fee (one-time fee)
MIN
(Loan amount disbursed)
MAX
(Loan amount disbursed)
BOUNCE FEE BOUNCE FEE (WITH GST)
2,500 5,000 100 118
5,001 10,000 200 236
10,001 15,000 300 354
15,001 20,000 400 472
20,001 25,000 500 590
25,001 30,000 600 708
Late Payment Fee (per day)
MIN
(Principal Outstanding)
MAX
(Principal Outstanding)
LATE PAYMENT FEE LATE PAYMENT FEE (WITH GST)
1 5,000 20 24
5,001 10,000 40 47
10,001 15,000 60 71
15,001 20,000 80 94
20,001 25,000 100 118
25,001 30,000 120 142
Loan Foreclosure / Pre-Payment Charges

The borrower can foreclose the digital loan by paying the principal and the proportional interest* without any penalty, along with a one-time processing fee.

* Interest will be charged on a daily basis.
! The exact amount can be clarified by contacting the contact center. It will be up to date on the day of the request and receipt of a response.

Additionally, please NOTE,
1. Daily Interest Rate will only be charged during the term of the loan as agreed at the time of loan origination.
2. Applicable Late Payment Fee will only be charged on the Principal Outstanding as of Loan repayment date.
3. If the customer is unable to make the payment on due date, customer would be given 2 days of grace period to make the payment, post which customer would be charged Late Payment fee daily for a maximum of 30 days post the grace period expires.
4. No Late Payment Fee will be charged during the Grace period.
5. If the customer makes the payment on the dues date or does not make the payment on the due date, necessary reporting of loan status will be done to all applicable Credit Bureaus as per the True status of the loan.
6. Principal and Interest paid by the customer on the loan originated, is paid to Navin Brothers (P) Ltd (Navin Bros. Pvt. Ltd.)
7. Processing fee (plus appliable GST) paid on the loan by customer, is paid to Navin Brothers (P) Ltd (Navin Bros. Pvt. Ltd.)
8. Late Payment Fee (plus appliable GST) if applicable, paid on the loan by customer, is paid to Navin Brothers (P) Ltd (Navin Bros. Pvt. Ltd.)
9. Bounce Fee (plus appliable GST) if applicable, paid on the loan by customer, is paid to Navin Brothers (P) Ltd (Navin Bros. Pvt. Ltd.)
10. To avoid auto debit fees from the bank, you need to ensure that you have sufficient funds in your bank account on the due date or in the event of a delay.

Repayment received (Partial or Complete) will be applied as per the below process,
1. Interest
2. Bounce Fee, Bounce Fee GST
3. Late payment fee, Late payment fee GST
4. Processing fee, Processing fee GST
5. Principal