Rates, charges & sample KFS
One price list for every loan. These are the only charges that can apply, and each is confirmed in your Key Fact Statement before you accept.
| Charge | Amount | When it applies |
|---|---|---|
| Loan amount | ₹10,000 – ₹1,00,000 | Based on salary and repayment capacity |
| Tenure | 7 – 40 days | Usually matched to your next salary date |
| Interest rate | 1% per day, flat on principal | Only for the days the money is with you |
| Processing fee | 10% of loan amount + 18% GST | Deducted once from the disbursed amount |
| Prepayment / foreclosure | ₹0 | Repay any day before the due date |
| Late payment charge | [As per KFS] | Only after the due date, as stated in your KFS |
| Cooling-off period | 3 days | Exit by repaying principal + proportionate interest, no penalty |
| Any other charge | None | Charges not in your KFS cannot be levied |
Worked examples
What real loans cost
Calculated with the same formula as our calculator and your KFS.
| Loan | Tenure | Interest | Fee + GST | You receive | You repay | APR |
|---|---|---|---|---|---|---|
| ₹10,000 | 15 days | ₹1,500 | ₹1,180 | ₹8,820 | ₹11,500 | 739% |
| ₹20,000 | 30 days | ₹6,000 | ₹2,360 | ₹17,640 | ₹26,000 | 577% |
| ₹50,000 | 30 days | ₹15,000 | ₹5,900 | ₹44,100 | ₹65,000 | 577% |
| ₹1,00,000 | 40 days | ₹40,000 | ₹11,800 | ₹88,200 | ₹1,40,000 | 536% |
How APR is calculated: (interest + processing fee + GST) ÷ amount received × 365 ÷ tenure in days. Short-term loans show a high APR because fixed fees are annualised over a few days. Always compare the rupee repayment too. Read: APR explained
Sample Key Fact Statement
This is what you see before accepting
Key Fact StatementSample · Loan of ₹20,000 for 30 days
Lender: [NBFC Partner Name]- Sanctioned amount
- ₹20,000
- Tenure
- 30 days, single repayment
- Rate of interest
- 1% per day (flat)
- Interest amount
- ₹6,000
- Processing fee
- ₹2,000
- GST on fee
- ₹360
- Net disbursed amount
- ₹17,640
- Total amount payable
- ₹26,000
- Annual Percentage Rate
- 576.61%
- Late payment charges
- [As per KFS]
- Cooling-off period
- 3 days
- Grievance Officer
- [Grievance Officer Name], grievance@paysalaryloan.com
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