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Rates and Terms

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Interest Rates

At Actoloan, we offer competitive interest rates tailored to your financial profile. Our rates are transparent and clearly communicated during the application process.

One Time Loan

  • Interest Rate: Starting from 12% per annum
  • Loan Amount: ₹1,00,000 to ₹50,00,000
  • Tenure: 1 to 12 months
  • Processing Fee: 1% of loan amount (min ₹1,000)
  • Prepayment Charges: Nil

Regular Loan

  • Interest Rate: Starting from 10% per annum
  • Loan Amount: ₹5,00,000 to ₹1,00,00,000
  • Tenure: 6 to 24 months
  • Processing Fee: 0.5% of loan amount (min ₹2,500)
  • Prepayment Charges: Nil

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 1800 ACTOLOAN or info@actoloan.com
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