Rates & charges

What a loan costs — no surprises.

These are the ranges approved under our Interest Rate and Penal Charges Policy. Your exact rate and fee depend on credit assessment and are written into your Key Fact Statement before you accept.

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Schedule of charges

Every charge, in one place.

Charge	Amount	How it is applied
Rate of interest	0.4% – 1.1% per day	Simple interest on the principal outstanding, for the days the loan is outstanding. Shown as an annual percentage rate (APR) in your KFS.
Processing fee	Up to 10% of the loan amount + GST	Deducted from the loan amount at disbursal. Itemised in the KFS and included in the APR.
Penal charges	₹500 per month on default (excluding GST)	Applies only on default. Levied as a flat charge — not as penal interest — and never added to the principal.
Prepayment / foreclosure	Nil	Repay early at any time and pay interest only for the days used.
Cooling-off period	1 day	Exit the loan within it by repaying the principal and proportionate interest, with no penalty.
Goods & Services Tax	18% on fees and charges	Interest does not attract GST. Tax is shown separately in the KFS.
Stamp duty	As applicable	Per the law of the state in which the agreement is executed, where applicable.
Any other charge	None	No charge that is not in your KFS can be levied without your explicit consent.

Representative example

The numbers on a typical loan.

₹20,000 for 30 days at 0.8% per day, with the maximum processing fee of 10% + GST.

All-in APR ≈ 494%. Because the loan runs for weeks rather than years, annualising its cost produces a large percentage; the rupee figures are what you actually pay.

Loan amount: ₹20,000
Processing fee · 10%: − ₹2,000
GST on fee · 18%: − ₹360
You receive: ₹17,640
Interest · 30 days: ₹4,800
Total repayable on due date: ₹24,800
Prepaid after 15 days instead: ₹22,400 — interest only for 15 days

How the APR is calculated

APR is the total cost of credit — interest plus the processing fee and GST — expressed as a yearly rate on the amount you actually receive. It is the number the RBI requires in every Key Fact Statement so loans can be compared like for like.

Read the policies behind these numbers

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Let’s get you the right loan.

₹5,000 – ₹40,000, decided on your income and banking record, with every cost written down before you accept.

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Lender: Golu Leasing & Finance Co. Private Limited · RBI CoR B-14.01773