Features |
EMI Based Product |
OD Based Product |
Mode |
Online |
Online |
Loan Type |
EMI-based product where a customer pays a regular EMI every month. |
Overdraft-based product where customers can pay and debit anytime |
ROI | Starting 8% Per Annum Flat | Starting 8% Per Annum Flat |
Prepayment |
NIL |
NIL |
Loan Amount |
Rs. 15,000 to Rs. 1,00,00,000 |
Rs. 15,000 to Rs. 1,00,00,000 |
Penal Interest Rate |
2% per month on total outstanding principal |
2% per month on total outstanding principal |
Processing Fees |
2% (of loan amount) or Rs.1,000 (whichever is higher) + GST |
Upto 2% (excluding GST) |
Repayment Tenure |
Minimum repayment period of zero months , Maximum 1 year |
Indefinite, renewed every year |