RupeeCircle

Borrower Rates & Fees

Interest Rates

Interest Rates

Personalized interest rates are suggested to each borrower as per their RupeeCircle Risk Grade by an automated credit appraisal system that uses the personal and financial information provided by borrowers to risk-asses and understand the strength of their credit profile. The interest rate thus assigned ranges from 12% to 30%.

RupeeCircle Risk Grades

RupeeCircle has developed a proprietary Credit Rating Score Model which incorporates a number of parameters such as credit history, financial ability & stability, social and other behavioural patterns of the borrower, using more than 200+ data points of personal & financial information and documents provided by the borrowers.

Based on the detailed analysis RupeeCircle in-house underwriting team classifies borrowers into the six RupeeCircle risk grades - A to F, A being the category with the strongest credit profile and ‘F being the weakest,’ and provide Interest Rate as per the risk grades along with a Report for each of the loans listed on the RupeeCircle Market place.

The classification is based on the estimated likelihood, that borrowers will not pay back their loan. In order to compensate lenders for taking a higher risk, loan projects with higher risk grades yield more interest.

Risk Grade
A Grade
B Grade
C Grade
D Grade
E Grade
F Grade
Interest 12.00% - 14.99% 15.00% - 17.99% 18.00% - 20.99% 21.00% - 24.99% 25.00% - 29.99% 30.00% - 35.99%
Expected Returns 11% - 14% 12% - 16% 13% - 18% 14% - 21% 16% - 24% 18% - 27%

Fees

There is Zero Registration Fee. We only charge Rs.500 in case a borrower needs help from our team as Assisted Registration Fees.

Once the loan is ready for disbursal, we charge borrowers a one-time Loan Processing Fee (upto 5%) of the Total Loan Amount or Rs. 1500 (whichever is higher) and applicable taxes at the time of disbursal.

The exact fee depends on the size of the loan and will be debited straight from the total loan amount before transferring the sum to borrower’s bank account or collected in cash/cheques from the borrower.

Please find the indicative processing fees structure below.

Loan Risk Grade
A Grade
B Grade
C Grade
D Grade
E Grade
F Grade
Rate of Interest on Loan
12.00% - 14.99%
15.00% - 17.99%
18.00% - 20.99%
21.00% - 23.99%
24.00% - 26.99%
30.00% - 36.00%
Max Processing Fee Rate*
1.5%
2%
3%
3.5%
4%
5%

A Collection Fee of Rs 250 is paid by a borrower if the EMI amount is not paid on the due date.

A Late payment fee of Rs. 250 is charged for delay in payment 7-15 days from the due date, and additional Rs. 250 for each 15-day delay thereafter.

Note : No Late Payment Fee will be charged if the EMI is paid within the first 7 days from the due date.

Document Preparation & Government Charges Rs. 500
Legal & Stamp Duty Charges As applicable
Pre-Payment Charges NIL after paying 3 months interest.
Cheque Bounce Rs. 500 per bounce
ACH Charges Rs. 125
Cash Pickup Charges Rs. 250
EMI Date Change Charges Rs. 250
Account Swap/Change Charges Rs. 250

*Government Taxes as applicable and all Rates & Fees are subject to changes.

No Prepayment Charges

We provide the flexibility of prepayment to our borrowers. You can choose to make prepayment of the entire loan amount (Interest for the same month and balance principal amount) without any charges, provided 3 months EMIs has been paid. Just contact RupeeCircle and choose one of the various options and proceed to prepay. Revised online account statement will be available as soon as the process is complete.

What are the Modes of Repayment?

RupeeCircle encourages its user to use auto debits for repayments. Every month EMI amount is auto-deducted from the borrower’s bank account to Investor’s Escrow Account. EMI collected from the borrower is automatically split and transferred to respective investors’ bank accounts who funded the loan. A complete repayment schedule will be provided to the borrower. Any delay or default in repayment will attract severe penalty.

Repayments can also happen through Bank Cheques, IMPS, NEFT, demand draft and other auto debits. If PDCs are issued for repayment, they are directly issues in the name of the investors.

RupeeCircle also encourages its users to transfer money electronically from leading banks across the country.

Repayment Process

RupeeCircle makes repayment easy. Additionally, there are no penalties or fees if you decide to pay off your loan early. Your single monthly payment is automatically deducted from your bank account. No need to remember to send a cheque or initiate a payment. We send you a friendly reminder a few days before your payment due date, just to make sure you have enough funds in your account. To change your account to manual payment and pay by cheque, you can email us at support@rupeecircle.com. or call on 022-62363569

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