Personal Loans

Key Terms and Conditions

1. The loan will carry a fixed interest rate specified at the time of application.
2. The loan amount, after deducting processing fees, will be disbursed only into the Borrower’s digiSavings account with the Bank upon acceptance of the Personal Loan Terms of Agreement.
3. During the Free Look Period of two (2) days from the date of loan disbursement, the Borrower has the option to cancel the loan. Please note, processing fees are non-refundable in case of cancellation.
4. Each EMI includes a principal and interest component. The Borrower authorizes the Bank to debit EMIs from the Borrower’s digiSavings account on the specified date.
5. Interest on the loan amount is calculated at the agreed rate on a daily reducing balance basis.
6. Non-payment of any EMI will attract dishonor charges and penal interest as per the terms.
7. The Borrower can choose to foreclose or make pre-payments after six (6) months, with applicable charges, up to a maximum of two (2) pre-payments per year.

For detailed Terms of Agreement, please click here.