How To Determine APR?

APR is computed by multiplying the periodic interest rate by the number of compounding periods within a year. It does not reflect the frequency of interest application to the principal balance. The determination of the annual percentage rate (APR) relies on factors such as your credit score, desired loan amount, and stable income. Typically, a favourable CIBIL score corresponds to a lower APR, whereas a lower CIBIL score results in a higher APR. However, in our case, we offer a fixed APR that remains consistent for all borrowers.

Functioning of Our Rates and Fees

APR ensures transparency and consumer protection by providing a standardised metric for comparing loan offers. It considers all costs, including fees and charges, giving a comprehensive view of the borrowing cost. Additionally, APR is often lower than credit card rates, allowing for consistent cost comparison across loan terms and durations.