1. Our company gives loans up to 5 lakhs

2.We are using the simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods.

3.We charge a
Loan application fee of 1%
Loan Processing Fees 1%
of the total loan amount.


4.Our period for repayment
Minimum :- 12 Month and
maximum : 60 Month

5.Maximum Annual Percentage Rate (APR) = 20%

**A representative example of the total cost of the loan, including all applicable fees.

Loan Amount Sanctioned : Rs. 200000
Deductions
1) Loan Processing Fees : Rs. 2000
2)Loan application fee : Rs. 2000
Net Amount Disbursed : Rs. 196000
Type of Interest Rate : flat
Effective APR : 20%
Term : 12
Frequency : Monthly
EMI Amount : Rs. 20,000
Total receive amount: 2,40,000 (20,000 x 12)
total intrest: 40,000 (20%)
Foreclosure charge : 4% of Loan Amount
Minimum period for repayment : 12 Month
maximum period for repayment : 60 Months