|Loan Amount||₹ 10,000||₹ 15,00,000|
|Loan Tenure||6 months||12 months|
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Interest Rate and Charges
Interest rate range: (April 2016 to June 2016, Q1 (FY 16-17))
#Penal Interest is not applicable for agricultural loans up to ₹ 25,000 per customer.
|Particulars||Twelve months product||Six months product|
|Processing Fees||1.0% of loan amount||1.0% of loan amount|
|Prepayment Fees**||1% of Principal Outstanding||1% of Principal Outstanding|
|Documentation Charges||₹ 199||NA|
|Stamp Duty and other statutory charges||As per Applicable laws of the State|
Note: Service Tax and other taxes are also applicable.
The above fees will not be applicable for agricultural loans up to ₹ 25,000 per customer.
**Prepayment fees for six months product will apply if the account gets closed within 5 months and for one year product if the account gets closed within 11 months.
Annual Percentage Rate:
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and processing fee.
To calculate the same, please click here to download the APR calculator.
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