Interest policy

Loancloud offers attractive personal loan interest rates upto 33% p.a for personal loans upto Rs.60,000 that can help you meet a range of financial requirements. On verifying the required personal loan documents, you may get collateral-free loans at flexible tenure and instant loan disbursal. With Loancloud Personal Loan, you do not have to worry about any hidden fees or charges. Here are more details on the interest rate and other fees & charges for personal loans :

Type of Charge Charge % / INR
Processing fee Upto Rs.3000 as per loan amount
Loan foreclosure/pre-payment charges Rs. 0 per request
Rate of Interest Not exceed 33% p.a
Bounce charges Rs. 0 per request
Late Payment penalty 2% per day
Stamp duty charges for loan documentation As per applicable laws
Boost Protect Fee Upto 3% per request but will be waived-off as our offer policy
Duplicate NOC Rs. 0 per request
Repayment mandate/instrument swapping charges Rs. 0 per request
Loan Cancellation Charges Rs. 0 per request
Loan Re booking charges Rs. 0 per request
Statement of account charges Rs. 0 per request
Duplicate Repayment Schedule Rs. 0 per request
Membership Fee For Primary Membership:
1 month: Rs.120
3 month: Rs.250
For senior Membership:
3 month: Rs.300
6 month: Rs.600

FAQs

Fixed rate of interest is the only type of rate of interest that will be offered for all Loancloud applications.

Interest is calculated at annual rates using a reducing balance method. We consider a 360 day year for interest calculations.