Terms & Rates Overview
APR Determination
- The Annual Percentage Rate (APR) is set at a fixed rate for all applicants, structured around factors like credit score, loan amount, and income stability. A higher credit evaluation typically results in a more favorable APR.
APR Range
- The APR for loans ranges between 240% and 365% per annum, reflecting the high short-term cost of credit.
Cost Breakdown Example
While the platform doesn't provide a full sample breakdown on the page, based on their structure, this would typically include:- Loan amount (e.g., ₹50,000)
- APR (e.g., between 240% and 365%)
- Short repayment tenure (1-3 months)
- Processing fees and applicable GST deducted before disbursement, resulting in a lower net disbursal—around ₹45,000 to ₹46,000
- Estimated repayment schedule (e.g., ₹20,000 EMI * ~3 installments = ₹60,000 total), reflecting approximately ₹10,000 in interest advancesalary.in
Summary Table
| Category | Details |
|---|---|
| APR Structure | Fixed per borrower, based on credit factors |
| APR Range | 240% – 365% per annum |
| Cost Covered | Includes interest, processing fees, GST |
| Sample Scenario | ₹50K → ₹45–46K disbursal → ~₹60K total repayment |