Objective

To ensure fairness in the interest rate applicable to the personal loan, the customer who is willing to apply can get an explicit detail. We always apply fair charges, and before disbursal, we get the approval from the customer because we always disclose and apply adequate charges.

Principle

The applied interest rates are based on the cost of funds, credit risk, and operational expenses, which are decided after verifying the customer's creditworthiness.

All the applicable rates are clearly revealed in the sanction letter and loan agreement after getting the approval from the customer's side.

Any penal charge applies only when there is a delay in repayment by customers.

The company always ensures that the customers are informed about processing fees, prepayment charges, and any other applicable costs. No hidden charges are applied at all.

The Board reviews the rate structure periodically to ensure alignment with RBI’s fair lending principles and to maintain affordability and competitiveness.

Loanforcare commits to a transparent, customer-friendly lending environment that balances business viability with borrower trust and protection.