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Fees & Charges for Personal Loan: |
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Interest Rate on the loan will be rate as applicable at the time of signing the loan agreement. Interest for the month = Loan Outstanding*ROI%*(Number of days in a month/360) |
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Upto 2% of the loan sanctioned amount subject to a minimum of Rs.1,000/-. Fee is deducted from loan amount at the time of disbursal. |
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No pre-payment is permitted until the repayment of 6 EMIs of Loan. |
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4% of the Principal Outstanding after repayment of 6 EMIs. |
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Maximum Rs.500/- |
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Any delay in the payment of an EMI shall entail an additional interest of 2% p.a. above the prevalent rate upon the EMI amount outstanding of the Loan. |
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Rs.500 |
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Part payment is allowed upto 25% of the principal outstanding in a financial year without charges. However if a loan is foreclosed within 12 months of making the part payment then the part payment made will also be charged as per the applicable pre payment charges. Partial payment shall not be permitted until the completion of at least 6 EMIs. |
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Service Tax is applicable on fees & charges.
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