Rates and Terms
Interest Rates
ActoLoan is a digital product of Prakash Chemtex (India) Limited, an RBI-registered NBFC (Reg No: 1400538). We quote Annual Percentage Rate (APR) from 18% to 42% depending on product and profile. Loan tenure is from 61 days to 365 days. Transparent pricing with no hidden charges—full details appear in your loan agreement.
One Time Loan
- APR: 18% to 42% (illustrative range; your approved APR is in the loan agreement)
- Loan Amount: ₹1,000 to ₹50,000 (subject to eligibility)
- Tenure: 61 to 365 days
- Processing Fee: As disclosed at application (deducted at disbursement where applicable)
- Prepayment: As per loan agreement
Regular Loan
- APR: 18% to 42% (profile-based; confirmed in agreement)
- Loan Amount: ₹1,000 to ₹50,000 (subject to eligibility)
- Tenure: 61 to 365 days
- Processing Fee: As disclosed at application
- Prepayment: As per loan agreement
Loan Terms and Conditions
Eligibility Criteria
- Minimum age: 21 years
- Maximum age: 65 years
- Minimum monthly income: ₹25,000
- Valid government-issued ID proof
- Address proof (utility bill, rental agreement, etc.)
- Income proof (salary slips, bank statements, ITR)
- Active bank account
Repayment Terms
- EMI payments are due on the same date every month
- Late payment charges: 2% per month on overdue amount
- Bounce charges: ₹500 per failed transaction
- Early repayment is allowed without any charges
- Auto-debit facility available for EMI payments
- Payment reminders sent via SMS and email
Required Documents
- Identity Proof: Aadhaar Card, PAN Card, Passport, Driving License, Voter ID
- Address Proof: Aadhaar Card, Utility Bills, Rental Agreement, Bank Statement
- Income Proof: Salary Slips (last 3 months), Bank Statements (last 6 months), ITR (last 2 years)
- Employment Proof: Employment Certificate, Appointment Letter
- Bank Details: Cancelled Cheque or Bank Statement
Penalties and Charges
- Late Payment Fee: 2% per month on overdue EMI amount
- Bounce Charges: ₹500 per failed EMI transaction
- Processing Fee: Non-refundable, charged at loan disbursement
- Prepayment Charges: Nil (No charges for early repayment)
- Foreclosure Charges: Nil
Loan Disbursement
- Loan approval within 24-48 hours of document submission
- Disbursement within 2-3 business days after approval
- Amount credited directly to your registered bank account
- Processing fee deducted from loan amount
- Loan agreement sent via email and SMS
Important Notes
- Interest rates are subject to change based on market conditions and borrower's credit profile
- Final interest rate will be communicated after credit assessment
- All charges are inclusive of applicable taxes
- Terms and conditions are subject to ActoLoan's loan policy
- For any queries, please contact our customer support at +91-9996725172 or info@actoloan.com
