The APR is calculated based on factors such as your credit score, the loan amount you wish to borrow, and your regular income. Generally, a good CIBIL score will result in a lower APR, while a poor score may result in a higher APR. But some lenders may have a fixed APR for all their loans, regardless of the credit score.
The APR (Annual Percentage Rate) represents the complete cost of borrowing money. It includes the annual interest rate, a nominal processing fee, and other miscellaneous expenses. The APR is typically lower than credit card interest rates. It is the actual annual cost of the loan that helps you compare different loan offers from various lenders. Our company offers a fixed APR rate of 35% per annum.
| Loan Amount | APR | Tenure | Processing Fee | GST on Processing Fee (Exclusive) | Amount Disbursed | EMI | Total Repayment Amount | Total Interest |
|---|---|---|---|---|---|---|---|---|
| 50,000 | 35% | 12 Months | 1,000 | 180 | 48,820 | 4,998 | 59,978 | 9,978 |
