Glossary
APR (Annual Percentage Rate)
What it means
APR expresses interest plus processing fees, insurance premiums bundled with the loan and other lender charges as a single annual rate. RBI requires it in the Key Fact Statement for retail and MSME loans so borrowers can compare offers with different fee structures.
A loan with a lower interest rate but a high processing fee can have a higher APR than a slightly pricier loan with no fee, especially on short tenures. Compare APRs, not headline rates.
Where it applies
Personal Loan
Collateral-free personal loans from ₹50,000 to ₹50 lakh at rates starting around 10.25% p.a., with disbursal typically within 48 hours of approval.
- Rate from
- 10.25% p.a.
- Up to
- ₹50 L
Business Loan
Unsecured business loans from ₹2 lakh to ₹1 crore for proprietors, partnerships and companies, at rates from about 14% p.a., with tenures up to 5 years and minimal collateral requirements.
- Rate from
- 14.00% p.a.
- Up to
- ₹1 Cr
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