Upmove Capital provides unsecured personal loans to customers through its Lending Service Provider (LSP), SmartCoin Financials Pvt. Ltd., to effectively meet their credit requirements. The loan product details are mentioned below:
- Ticket Size : ₹ 500 - 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
- Foreclosure/prepayment Charges : 2%-4% on outstanding principle
- Penal Charges : As per the table below
Minimum Principal Overdue (₹) | Maximum Principal Overdue (₹) | Penal Charge (₹) |
Up to 1,000 | 30 |
1001 | 2000 | 150 |
2001 | 5000 | 250 |
5001 | 7500 | 300 |
7501 | 10000 | 350 |
10001 | 20000 | 400 |
20001 and greater | 450 |
The above charges are levied once the EMI gets overdue for more than 4 days |