The complete list of what a Bindaas loan can cost you. If a charge is not here, it does not exist.
| Charge | What it is |
|---|---|
| Personal loan interest | 12.5% to 24% p.a., reducing balance |
| EV & two-wheeler interest | 9.9% to 18% p.a., reducing balance |
| Education & upskilling interest | 11% to 20% p.a., reducing balance |
| Medical emergency interest | 11.5% to 22% p.a., reducing balance |
| Processing fee | 1% to 2% + GST, one time. ₹0 on medical emergency loans |
| Prepayment / foreclosure | ₹0, any time after your first EMI |
| Late payment | ₹450 + GST per missed EMI, on the overdue amount only, never capitalised |
| Anything else | Nothing. No hidden charges, no annual fees, no surprises |
Real numbers on the four products, so you can see the shape of a loan before you apply.
Before you sign anything, you get a Key Fact Statement, a one-page summary RBI requires. It must show all seven of these:
If an EMI bounces, the ₹450 + GST is charged on the overdue amount only. It is never added to your principal, and it never compounds. It is a flat charge, not extra interest. We also call you before it is applied.
Every loan has a 3 day cooling-off period: exit within 3 days of disbursal by repaying the principal plus proportionate interest, with zero penalty and your processing fee refunded. Details on refunds and cooling-off.
APR is the true yearly cost, folding in the interest and the one-time processing fee. Because it includes the fee, it is a little higher than the headline rate. It is the fairest number to compare offers on. There is a full walk-through on our EMI calculator page.
Yes. GST applies to the processing fee and the late payment charge, at the rate set by law. It is shown separately in your Key Fact Statement.
No. Your rate is fixed for the tenure and printed in your KFS. It does not move mid-loan.
Where a state levies stamp duty on the loan agreement, it is passed through at actuals and shown in your KFS. There is no Bindaas markup on it.