Description

PLs are provided to customers for various purposes like funding education of their children, medical emergencies, unplanned business requirements etc. Joint Liability Group (JLG) guarantee is not required to avail PLs.

The loan tenor is fixed for PLs.

Personal Loan(PL)
Loan Amount (Rs) Min: 5000 Max: 15000
Loan Tenor (Weeks) 52
Repayment Frequency Weekly, Fortnightly, Monthly
Annual Interest Rate (%) 23.85
Penal Interest Nil
Processing Fee 1% of loan amount
GST on Processing Fee 9% CGST, 9% SGST
Member Insurance 0.5% of loan amount
Guarantor Insurance 0.5% of loan amount
Moratorium Period Moratorium would be equal to the periodicity of the loan (i.e. 7 days for weekly, 1 calendar month for monthly etc.)