Rates & Charges

1. Loan Parameters

Parameter	Details
Loan Product	Short-Term Payday Loan (Single-Pay)
Loan Amount Range	₹5,000 – ₹2,00,000
Loan Tenure	7 days – 45 days
Repayment Structure	Single bullet repayment on due date (principal + interest)
Minimum Monthly Income Required	₹15,000 net take-home
Eligible Borrowers	Indian citizens aged 21–60 years, salaried or self-employed

2. Interest Rate

Parameter	Details
Rate Type	Fixed daily rate (set at loan origination)
Daily Rate Range	1.00% – 1.50% per day
Indicative Annual Percentage Rate (APR)	365% – 547.5% p.a.
How APR is Computed	All-inclusive (interest + fees + GST), annualised using IRR approach per RBI KFS format. Contingent charges excluded.
Rate Determination	Based on credit bureau score, income level, debt-to-income ratio, and loan amount. Your exact rate is in your KFS.

3. Processing Fee & Taxes

Charge	Amount / Rate	Timing
Processing Fee	2% – 4% of loan amount (based on profile)	Deducted upfront from disbursed amount
GST on Processing Fee	18% of processing fee (as per Govt. of India)	Deducted upfront alongside processing fee
Stamp Duty	As applicable per state laws	At loan execution
Insurance Premium	Nil (no mandatory insurance bundled)	—

Example Fee Calculation (₹25,000 loan at 3% fee)

Component	Calculation	Amount
Loan Amount	—	₹25,000
Processing Fee (3%)	3% × ₹25,000	₹750
GST on Fee (18%)	18% × ₹750	₹135
Total Deduction	₹750 + ₹135	₹885
Net Disbursed to Your Bank	₹25,000 – ₹885	₹24,115

4. Repayment & Prepayment

Parameter	Details
Repayment Method	NACH (auto-debit) / UPI / NEFT from registered bank account
Prepayment / Pre-closure Charges	Nil — Repay early, save on interest
Part-Payment	Not applicable (single-pay product)

5. Contingent / Penal Charges

Charge	Amount / Rate	Basis
Late Payment Penal Interest	2% per month (24% p.a.) on outstanding overdue amount	Charged on overdue principal only (RBI requirement)
NACH / Cheque Bounce Charges	₹500 per instance	Per failed auto-debit attempt
Legal / Recovery Costs	Actuals, as per loan agreement	If recovery proceedings initiated

Penal charges are levied only on the outstanding loan amount as per RBI Circular DOR.CRE.REC.66/21.07.001/2022-23, Para 4.2.

6. Cooling-off / Look-up Period

Loan Tenure	Cooling-off Period	Exit Condition
7 days or more	Minimum 3 days from disbursement	Repay principal + proportionate interest (APR). Zero penalty.
Less than 7 days	Minimum 1 day from disbursement	Repay principal + proportionate interest. Zero penalty.
Processing fee (cooling-off exit)	A reasonable one-time processing fee may be retained (as disclosed in KFS). This fee is included in APR computation.

7. Other Charges

Charge	Amount
Credit Report / Bureau Pull Fee	Nil (borne by TrueLine Credit)
eKYC / Video KYC Charges	Nil
Loan Statement / Account Statement	Nil
NOC / Closure Certificate	Nil

8. APR Examples

Amount	Tenure	Daily Rate	Total Repayment	APR (est.)
₹10,000	14 days	1.25%	₹11,750	~466% p.a.
₹25,000	30 days	1.25%	₹34,375	~451% p.a.
₹50,000	45 days	1.25%	₹78,125	~438% p.a.
₹1,00,000	30 days	1.00%	₹1,30,000	~388% p.a.

APR values are illustrative. Actual APR in your personalised KFS. Use our calculator →