Platform Charges & Fee Structure for Borrowers
The one-time registration fee while onboarding a borrower is ₹ 250.
The fees is payable any time after onboarding but before raising any loan request
*Government Taxes as applicable, and all Rates & Fees are subject to changes.
A loan listing fee of ₹ 400 is collected from a borrower while raising of a loan request. This fees is primarily collected to cover the platform’s costs of borrower verification, loan listing on the marketplace for lenders, and accessing external service providers for getting the borrowers’ financial status. This fees is refunded once the loan processing fee is collected on loan being fully funded and loan amount disbursed. The loan listing fee is non-refundable if the loan request is rejected, or the loan remains unfunded.
A loan processing fee of 5.5 % of the loan amount disbursed (with a maximum cap of ₹ 1,500) is collected at the time of disbursement of the loan amount. The loan listing fee collected earlier is set-off against the loan processing fee.
For specified loan products, these charges could be waived, reduced, or increased. These details will be available while raising a loan request under that specified product.
Legal charges and any processing fees towards digital document execution are recovered on actuals.
*Government Taxes as applicable, and all Rates & Fees are subject to changes.
Currently the platform does not charge any maintenance fees from the borrowers.
*Government Taxes as applicable, and all Rates & Fees are subject to changes.
If the loan account is overdue because of non-payment of loan instalment/interest (even after the applicable grace period), a late payment penalty of ₹ 250 is charged at the interval of every 15 days of the loan account remaining overdue.
The late penalty charges, grace period, and frequency of charging, could vary based on loan product. These details will be available while raising a loan request under those specified loan products.
*Government Taxes as applicable and all Rates & Fees are subject to changes.
If the borrower decides to repay the full loan amount before a specified period (3 days to 3 months based on the loan product), the platform will charge an early loan closure fees calculated at 5% of the outstanding loan amount.
For specified loan products, these charges could be waived, reduced, or increased. These details will be available while raising a loan request under those specified products.
Bank account change – ₹ 125
Registering e-NACH for loan instalments with Bank – ₹ 125
*Government Taxes as applicable and all Rates & Fees are subject to changes.