Amount of the Loan is ₹5,000 to ₹500,000
Maximum Annual Percentage Rate(APR) is 18.25% per annum.
Processing Fee is up to 1% of Loan Amount (additional 18%
GST)
Loan term is 91 days to 365 days
If users’ loan ₹10,000 for 120 days duration.
The applicable fees are= ₹100. (₹10,000 * 1%)
GST is= ₹18. (₹100 * 18%)
Interest payable is= ₹600 (₹10,000 * 18.25% / 365days *
120days)
Total cost of the loan is =₹718 (₹100+ ₹18 + ₹600)
Total repayment amount for 120 days is =₹10718 (₹10,000 +
₹718)
Monthly repayment is ₹2,680 (₹10718/4)