Key Loan Details
Loan Amount₹6,000 to ₹5,00,000
Repayment Period (Tenure)Minimum 90 days to a maximum of 360 days.
Maximum APROur interest rates (APR) range from 10% to 30% per annum.
Representative Example
To understand the costs, here’s a sample loan calculation:
- Loan Amount: ₹50,000
- Processing Fee (2%): ₹1,000
- Platform Fee: ₹250
- GST on Fees (18%): ₹225
- Amount Disbursed to Bank: ₹48,525
- Annual Interest Rate (APR): 18% (1.5% per month)
- Tenure: 12 Months
- Your EMI: ₹4,584
- Total Interest Paid: ₹5,008
- Total Amount Repaid: ₹55,008
Eligibility & Process
- Eligibility: Indian Citizen, Age 21+, with a monthly income of at least ₹15,000.
- Digital KYC: Submit your PAN, Aadhaar, and selfie via our fully digital platform.
- Evaluation: Applications are evaluated by our RBI-registered NBFC and Bank partners.
Disclaimer
Teofin is an affiliate platform, not a direct lender. We connect you with RBI-registered NBFCs and Banks. Loan approval, terms, and disbursal timelines are at the sole discretion of our lending partners. All fees and charges are disclosed upfront in the loan agreement provided by the lender.