Maximum Annual Percentage Rate (APR) #57 PAISA PER MONTH or #6.9% PER ANNUM (MKL Scheme)* if the interest accrued is serviced monthly.* T&C APPLY
Minimum Repayment Period is 1 day and Maximum Repayment Period is 180 days as per Scheme MKL for Interest Payments for the above interest rates.
The repayment period for the principal amount of the loan is 180 days. The interest due in the loan account should be settled every 30 days in order to avail the concessional interest rate of #6.9% per annum (#57 paisa per month). The maximum period allowed for repayment of accrued Interest is 180 days upon which the interest rate increases to #26% per annum.* T&C APPLY.
Disclaimer - This special rate scheme is applicable only as per the Manappuram Kisan Loan Scheme. The processing charge is Rs 10 + Tax, and Overdue interest rate is 3% per annum. The loan tenure is 6 months.
** The above advertised interest rate offer is applicable for Scheme MKL for a minimum loan amount of Rs 8,00,000/- for all states & union territories in India as per the effective interest rate upon timely monthly interest remittance to MAFIL. For example: A customer avails a loan of Rs 8,00,000/- @6.9% ROI and pays back Rs 8,55,200/ - during the tenure of 365 days by considering that interest is serviced monthly.
* Rebate is applicable for prompt payment of interest in 30 days at an effective interest rate of 6.9%, applicable till the closure of loan, however, rebate is not applicable in cases where the interest payment fails in first slab within 33 days, thereby, the customer falls to the second slab and is liable to make interest payments at 18% effective interest rate.
Note: Effective interest rate of #57 paisa per month or #6.9% per annum is a concessional rate conditional upon monthly interest remittance. The regular interest rate is #26% per annum. The effective interest rate upon monthly payment is #6.9% per annum, #18% per annum for bi-monthly payment, and #22% per annum for quarterly payment, and 26% for fourth month onwards (base rate). *Terms & Conditions Apply | Interest Charged Only for the days, the loan amount is Used -| For more details read the T & C.
Manappuram Finance Limited, IV / 470 (old) W638A (New), Manappuram House, Valapad,Thrissur Kerala, India, Pin code : 680567 CIN:L65910KL1992PLC006623 1800-420-22-33 (toll free) [email protected]