Loan Terms
Insurance & Service Fees
1.1
To reduce risk of default, an insurance fee applies:
- 8% of loan amount (up to Rs. 50,000)
- 6% of loan amount (Rs. 50,000 – Rs. 100,000)
1.2
The fee is not deducted from the loan amount.
1.3
If all payments are made on time, this fee covers the last payment.
1.4
InstaCash India never requests any fees before loan approval or registration.
1.5
This fee will be used if the Borrower misses their first payment.
Loan Terms
2.1
The loan is granted for a period ending from 1 month to 36 months.
2.2
Interest rate: 36% per annum (3% monthly).
2.3
Funds will be transferred to the Borrower's provided account or UPI ID.
Repayment Procedure
3.1
The Borrower undertakes to repay the full amount with interest on or before the due date.
3.2
In case of delay, a penalty of 0.1% per day is charged on the outstanding balance.
Subject of the Agreement
The Creditor shall transfer to the Borrower a loan in the amount of Rs. ( 10,000 - 100,000), which the Borrower agrees to repay under the conditions and within the time period defined below.
