What is the interest rate and processing fee for business loan?

You will be charged interest rate based on your risk score, which is derived from your credit report

Credit Risk Category

  • Category A – 22% p.a. reducing balance
  • Category B – 25% p.a. reducing balance
  • Category C – 28% p.a. reducing balance

If you fall in risk Category A you will be charged interest on your loan amount @ 22% p.a. reducing balance method and so on.

A onetime processing fee of 3% of the loan amount (plus applicable taxes i.e. GST of 18%) shall also be charged and deducted from the loan disbursal amount.

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