Personal Loans

Most Important Terms and Conditions

  1. The Loan shall carry fixed rate of interest specified at the time of applying Loan.
  2. The Loan amount shall be disbursed, after debiting processing fees, in Borrower’s digiSavings account only with the Bank on accepting the Personal Loan Terms of Agreement.
  3. During the Free Look Period of two (2) days from date of Loan disbursement, the Borrower can cancel the Loan. Processing fees will not be refunded in case of cancellation.
  4. EMI shall consist of principal and interest component. The Borrower authorises the Bank to debit EMI from Borrower’s digiSavings account on the specified EMI date.
  5. Interest on the amount of the loan will be applied at the agreed rate on daily reducing balance.
  6. If any EMI is not honoured, the Borrower will be liable for dishonour charges and penal interest.
  7. The Borrower can foreclose the Loan or make pre-payments after payment of 12 EMIs with applicable charges.

For detailed Terms of Agreement, please click here