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Pricing Of Loan Products / Interest Rate Model For 2018-19

Depending upon various factors like, profile, location, credit worthiness, spending habits, net worth, disposable income, and KYC declarations etc. of customers and the prevailing interest rate in the market, Peerless Financial Services Limited charges interest rate ranging from 9% to 16% p.a. as determined by risk categorisation of the customer. Rate of Interest, Processing and other charges are mentioned explicitly in the sanction letter / facility agreement.

Rate of Interest charged on different Loan Products are as follows:

Sl. No.

Products

Pricing

Minimum

Maximum

  1.  

Loan Against Salary

11.50% p.a.

16.00% p.a.

  1.  

Loan to Professionals

10.50% p.a.

14.99% p.a.

  1.  

Loan Against Property

9.50% p.a.

16.00% p.a.

  1.  

Loan Against Insurance Policy

9.90% p.a.

14.99% p.a.

  1.  

Vehicle Loan

9.00% p.a.

15.00% p.a.

  1.  

Two Wheeler Loan

11.00% p.a.

16.00% p.a.

  1.  

Margin Funding

12.00% p.a.

16.00% p.a.

  1.  

Corporate Loan

12.00% p.a.

16.00% p.a.

  1.  

Equipment Finance

11.00% p.a.

16.00% p.a.


Penal Interest:A Penal Interest of 1%-3% is charged depending upon the Product and other factors, including profile of the client and tenure of loan.

Pre-closure charges:Pre-Closure charges upto 4% is charged depending upon the Product and other factors, including profile of the client, tenure of loan and management expenses incurred thereon.

Processing Charges:Processing Fees of upto3% is charged depending upon the Product and other factors, including profile of the client and tenure of loan.

Documentation Charges:Documentation starts from Rs 250 and is charged depending upon the product.

Other Miscellaneous charges for KYC and other compliances: Such charges are generally realized on actual basis depending upon the Product.



Peerless Financial Services Ltd.
3, Esplanade East
Kolkata-700069
India
Phone: +91 33 4062 2525
Fax : +91 33 2262 5664
E-mail : pfs@peerlessfinance.in