Loan Pricing & Fee Structure
The total cost of borrowing on RupayFin is determined entirely by the individual lending institution (Bank/NBFC) and the customer's verified underwriting assessment. There is no single universal interest rate or fee applicable to all applicants.
Itemized Breakdown of Possible Loan Charges
| Charge Type | Details & Applicability |
|---|---|
| Interest Rate | Annual percentage rate as determined by the lending partner based on risk profile, income, and tenure (typically starting from 11.99% p.a.). |
| Annual Percentage Rate (APR) | The complete annualized cost of credit representing interest, processing fees, and all upfront costs as disclosed in the Key Fact Statement (KFS). |
| Processing Fee | One-time fee charged by the lender for credit evaluation and loan sanction (typically 1.5% to 4% of the loan amount + GST). |
| GST / Statutory Taxes | 18% Goods and Services Tax (GST) applicable on processing fees, verification, and service charges as mandated by law. |
| Penal Charges / Late Fee | Transparent fee charged strictly for overdue/defaulted payments as detailed in the loan contract (no compounding of penal interest). |
| Foreclosure / Prepayment | Per RBI regulations, 0% foreclosure charges for individual borrowers with floating rate term loans. Fixed rate loans follow partner lender terms. |
| Stamp Duty / Mandate Charges | State-specific statutory stamp duty and e-NACH mandate registration fee as disclosed upfront by the lender. |
Key Fact Statement (KFS) Verification
Before executing the loan agreement, borrowers must thoroughly review the Key Fact Statement (KFS) provided by the lender. The KFS serves as the definitive document detailing all loan costs, net disbursal amounts, and monthly repayment obligations.
Important Pricing Disclosure
Actual pricing, interest rates, and loan limits are determined solely by the respective Bank/NBFC upon comprehensive evaluation of KYC, income, and credit score records. Information on this page is illustrative and does not constitute a pre-commitment of credit terms.