Loan Biz

Minimum salary required is Rs 50000. Only for salaried people

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Monthly salary must be at least ₹50,000.

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Rates & Charges

Minimum Loan Amount

Rs. 5,000 /-

Maximum Loan Amount

Rs. 100,000 /-

Tenure Days

90 Days to 365 Days

Processing Fee

2% of loan amount

No Pre

No pre - closure charges

ROI (Rate of interest)

@ 2% to 2.72% Monthly

APR (Annual Percentage Rate)

@ 18% to 36%

Cheque bounce charges

Rs. 1000 /-

Payment Example

Tenure

12 Months

Loan Amount

Rs.1,00,000

Interest Rate

31.2% PA

Admin Fee

Rs.2000

APR

33.88%

Amount Deposited

Rs. 98000

EMI

Rs. 9897

Total Interest

Rs.18762

How To Determine APR?

APR is computed by multiplying the periodic interest rate by the number of compounding periods within a year. It does not reflect the frequency of interest application to the principal balance. The determination of the annual percentage rate (APR) relies on factors such as your credit score, desired loan amount, and stable income. Typically, a favourable CIBIL score corresponds to a lower APR, whereas a lower CIBIL score results in a higher APR. However, in our case, we offer a fixed APR that remains consistent for all borrowers.

Functioning of Our Rates and Fees

APR ensures transparency and consumer protection by providing a standardised metric for comparing loan offers. It considers all costs, including fees and charges, giving a comprehensive view of the borrowing cost. Additionally, APR is often lower than credit card rates, allowing for consistent cost comparison across loan terms and durations.

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