Upmove Capital extends term loans through its lending service provider, SmartCoin Financials Pvt Ltd to meet the credit needs of customers. The loan product details are mentioned below:
- Ticket Size : ₹ 2,000 - 5,00,000
- Interest Rate : 12-36% p.a. on reducing balance
- Processing Fee :
- For loans up to ₹25,000 - Maximum PF of ₹3,100 + applicable tax
- For loans between to ₹25,001 to ₹50,000 - Maximum PF of 12% + applicable tax
- For loans between to ₹50,001 to ₹100,000 - Maximum PF of 10% + applicable tax
- For loans greater than ₹ 100,000 - Maximum PF of 7.5% + applicable tax
- Loan Tenor : 2 - 24 months
- Payment Schedule : Monthly EMI structure with option to pre close the loan
- Bounce Charges : As levied by banks
- Penal Charges : As per the table below
Minimum Principal Overdue (₹) | Maximum Principal Overdue (₹) | Penal Charge (₹) |
Up to 2,000 | 200 |
2001 | 5000 | 250 |
5001 | 7500 | 300 |
7501 | 10000 | 350 |
10001 | 19999 | 400 |
20000 and greater | 450 |
The above charges are levied once the EMI gets overdue for more than 4 days |