Rates and charges
Every rupee you pay is shown here and in your Key Fact Statement before you sign. Karmacash itself never charges you anything.
| APR (all-in yearly cost) | 18% to 24%, including the processing fee |
|---|---|
| Interest rate | 9.5% to 19.25% a year, depending on your profile and tenure |
| Processing fee | 2% of the loan amount plus 18% GST, deducted at disbursal |
| Loan amount | Rs 15,000 to Rs 3,00,000 |
| Repayment | Equal monthly EMIs over 6, 9 or 12 months, auto-debited |
| Failed EMI auto-debit | ₹250 flat |
| Prepayment | Allowed |
EMI calculator
- Monthly EMI
- ₹8,714
- APR (all-in yearly cost)
- 23.9%
- Total interest
- ₹2,285
- Processing fee (2%)
- ₹1,000
- GST on fee (18%)
- ₹180
- Amount you receive
- ₹48,820
- Total you repay
- ₹52,285
Illustration only. Your actual rate depends on your application and is confirmed in your Key Fact Statement.
Sample Key Fact Statement
For a Rs 50,000 loan over 6 months at the highest rate.
| Lender | our NBFC lending partner (to be announced) |
|---|---|
| Loan amount | ₹50,000 |
| Tenure | 6 monthly EMIs |
| Interest rate | 15.5% a year, reducing balance |
| Processing fee | ₹1,000 (2% of the loan), charged by the lender |
| GST on processing fee | ₹180 |
| Amount paid into your account | ₹48,820 |
| Monthly EMI | ₹8,714 |
| Total amount you repay | ₹52,285 |
| Annual percentage rate (APR) | 23.94% |
| Failed EMI auto-debit | ₹250 per failed debit |
| Prepayment | Allowed |
| Cooling-off period | Exit by repaying principal and interest for the days used, with no penalty |
| Grievance officer | [email protected] |