Lord Krishna Financial Services Limited (Prestloans) has Reference Base Rate of 18% p.a. The spread / margin on the loans will remain unchanged in normal circumstances, however the base rate or spread may be changed in circumstances like increase in borrowing cost, increase in cost of operations or other geo-political issues etc.
Interest Rate Policy
Lord Krishna Financial Services Limited shall always be working and forming its policies in conjunction with RBI guidelines, directives, circulars and instructions. The company will apply best industry practices so long as such practices do not conflict with or violate RBI guidelines, specially with reference to interest rate policy.
In order to ensure its standards of transparency, in conformity with the stipulations of the RBI's directives, the Company has adopted the following interest rate policy for determining Interest Rates, Processing and Other Charges. This Policy applies to clients whose loans are booked in the books of the Company where the company is the lender.
In case of any lending partnership arrangement with other lenders the interest rate for the borrower shall be decided based on the interest rate policy of the company as well as of the lending partners. The borrower shall be provided with the aggregate rate with the lender.
The rate of interest applicable to the borrower shall be decided based on various factors, some of factors may be as follows:
Tenor of the Loan- The interest rate charge will depend on the term of the loan; structure of the loan; terms of payment of interest.
Cost of Operations- The interest rate charged will also take into account costs of doing business that means cost of sourcing, servicing, underwriting, and collection etc.
Internal and External Costs of Funds - The rate of interest charged is also affected by the rate at which the funds are sourced from internal and external sources to provide loan facilities to customers are sourced, normally referred to as the Company’s external cost of funds.
Internal cost of funds being the expected return on equity issued, is also a relevant factor. The interest rate charged will also take into account costs of doing business.
Credit Risk - As a matter of prudence, bad debt provision cost should be factored into all transactions. This cost is then reflected in the final interest rate quoted to a customer. The amount of the bad debt provision applicable to a particular transaction depends on our internal assessment of the credit strength of the customer. The credit cost may be different for secured loans and unsecured loans; short term loans and long-term loans; personal loans and business loans based on historical data of the company as well as industry data of delinquencies and NPA.
Other Factors - The rate of interest shall be based on the cost of borrowed funds, matching tenor cost, market liquidity, assets and liability mismatch, RBI policies on credit flow, offerings by competition, tenure of customer relationship, market reputation, cost of disbursements, inherent credit and default risk in the products and customer per se arising from customer segment, profile of the customers, stability in earning and employment, deviations permitted, ancillary business opportunities, future potential, group strength and overall customer yield, nature and value of primary and collateral securities, past repayment track record of the customers, external ratings of the customers , industry trends, switchover options, canvassed accounts etc
The company may adopt discrete interest rate model whereby the rate of interest for same product and tenor availed during same period by customers would not be a standardized one but could be different for different customers depending upon consideration of any or combination of a few or all factors listed out above.
The company may adopt discrete interest rate model whereby the rate of interest for same product and tenor availed during same period by customers would not be a standardized one but could be different for different customers depending upon consideration of any or combination of a few or all factors listed out above.
The annualized rate of interest would be intimated to the customer.
The interest rates would be offered on fixed, floating, variable basis.
Interest rates shall be intimated to the customers at the time of sanction/ availing of the loan and the equated instalments/Balloon Payment/Bullet payment apportionment towards interest and principal dues shall be made available to the customer.
All processing / documentation and other charges recovered are expressly stated in the Loan documents. They vary based on the loan product, geographical location, customer segment and generally represent the cost incurred in rendering the services to the customers.
The practices followed by other competitors in the market would also be taken into consideration while deciding the charges.
Processing charges will be charged on case-to-case basis.
Service Tax, GST and other applicable taxes shall be charged as per the guidelines issued by the Government from time to time.
Besides normal interest, the Company may collect penal charges / late payment charges for any delay or default in making payments of any dues. These penal charges / late payment charges for different products or facilities would be decided by the Company from time to time and intimated to the customers by way of sanction letter, KFS.
| Schedule of Charges(SOC) | Unsecured Loans- Business Loan |
| Processing Fees | 0%-3% of the loan amount sanctioned. This is a non-refundable fee |
| Rate of Interest | 18%- 36% based on interest rate matrix. |
| File Charges / Initial Money Deposit (IMD) | 0%-1% of the loan amountsanctioned. |
| Document Handling and RCU charges | Upto Rs. 2,950/- |
| Foreclosure Charges | 0%-5% slab wise. |
| Pre/Part loan payment | 0%-5% of outstanding loan(Depends on actual paid emi) slab wise. |
| MOD Registration expenses | NIL |
| Stamp Duty and Documentation charges | Actuals to be borne by customer |
| PDC / ECS / NACH Bounce Charges / per transaction | Rs. 850/- (per bouncing) |
| Repayment instrument change/ swap charges | Rs. 500/- |
| EMI repayment cycle date change (In addition to these, Gap interest will also apply) | Rs. 250/- |
| Modification of loan terms after first disbursement including but not limited to re - scheduling of loan repayment term, addition/ deletion of co-borrowers etc | Rs. 250/- |
| Lock in Period | As per Sanction terms, if applicable |
| Issuance of duplicate income tax certificate | NIL |
| Issuance of Duplicate No objection certificate (NOC) | Rs. 250/- |
| Duplicate Statement of Accounts (SOA) | Rs. 250/- |
| Document retrieval | Rs. 200/- |
| Loan Cancellation Charges (and reversal of accounting charges) | Rs. 2500/- |
| Penal Charges | 0%-6% per month on instalment overdue |
| Legal Verification Charges | NIL |
| Technical Verification Charges/ valuation | NIL |
| Cersai Charges | NIL |
| Issuance of duplicate interest certificate | Rs. 850/- |
| Renewal Charges / Renewal of the limit | Rs. 2500/- |
| Field collection charges per EMI | Rs. 850/- |
| Litigation Charges | As per actual basis |
| *Please note that the above fee and charges are exclusive of GST, education cess and other government taxes, levies etc. The above schedule of charges is subject to change and will be at the sole discretion of the company, the change will be available on the company websitewww.prestloans.com | |
| Note: The interest rate may differ from the above range due to internal approvals. | |
| Schedule of Charges(SOC) | EV Loan |
| Processing Fees | 0%-6% of the loan amount sanctioned. This is a non-refundable fee |
| Rate of Interest | 18%- 36% based on interest rate matrix. |
| File Charges / Initial Money Deposit (IMD) | Upto Rs. 2500/- |
| Document Handling and RCU charges | 1% of the loan amountsanctioned |
| Foreclosure Charges | 5% of principle outstanding amount |
| Pre/Part loan payment | 5% of principle outstanding amount |
| MOD Registration expenses | NIL |
| Stamp Duty and Documentation charges | 1% of the loan amount sanctioned |
| PDC / ECS / NACH Bounce Charges / per transaction | Rs. 850/- (per bouncing) |
| Repayment instrument change/ swap charges | Rs. 850/- |
| EMI repayment cycle date change (In addition to these, Gap interest will also apply) | Rs. 250/- |
| Modification of loan terms after first disbursement including but not limited to re - scheduling of loan repayment term, addition/ deletion of co-borrowers etc | Rs. 250/- |
| Lock in Period | NIL |
| Issuance of duplicate income tax certificate | NIL |
| Issuance of Duplicate No objection certificate (NOC) | Rs. 500/- |
| Duplicate Statement of Accounts (SOA) | Rs. 500/- |
| Document retrieval | Rs. 500/- |
| Loan Cancellation Charges (and reversal of accounting charges) | Rs. 1000/- towards Cancellation, Additional Interest charges from date of disbursal till receipt of cancellation. Cancellation to be received within 30 days or 1st EMI presentation date whichever is earlier. Post which it will be treated as foreclosure |
| Penal Charges | 0%-6% per month on instalment overdue |
| Issuance of duplicate interest certificate | Rs. 850/- |
| Renewal Charges / Renewal of the limit | Rs. 850/- |
| RTO transfer charges | As per actuals |
| Duplicate RC issuance charges | NIL |
| Field collection charges per EMI | Rs. 850/- |
| Litigation Charges | Debit basis actual |
| *Please note that the above fee and charges are exclusive of GST, education cess and other government taxes, levies etc. The above schedule of charges is subject to change and will be at the sole discretion of the company, the change will be available on the company website- www.prestloans.com | |
| Note: The interest rate may differ from the above range due to internal approvals. | |
| Schedule of Charges(SOC) | Secured Loans- Business Loan |
| Processing Fees | 0%-3% of the loan amount sanctioned. This is a non-refundable fee |
| Rate of Interest | 15%- 30% based on interest rate matrix. |
| File Charges / Initial Money Deposit (IMD) | Upto Rs. 5900/- (Depends on Product and Loan Amount) |
| Document Handling and RCU charges | Upto 1% of the loan amount. |
| Foreclosure Charges | Upto 5% of outstanding loan(Depends on actual paid emi) |
| Pre/Part loan payment | Upto 5% of outstanding loan(Depends on actual paid emi) |
| MOD Registration expenses | NIL |
| Stamp Duty and Documentation charges | Actuals to be borne by customer |
| PDC / ECS / NACH Bounce Charges / per transaction | Rs. 850/- (per bouncing) |
| Repayment instrument change/ swap charges | Rs. 500/- |
| EMI repayment cycle date change (In addition to these, Gap interest will also apply) | Rs. 250/- |
| Modification of loan terms after first disbursement including but not limited to re - scheduling of loan repayment term, addition/ deletion of co-borrowers etc | Rs. 250/- |
| Lock in Period | As per sanction terms |
| Issuance of duplicate income tax certificate | NIL |
| Issuance of Duplicate No objection certificate (NOC) | Rs. 250/- |
| Duplicate Statement of Accounts (SOA) | Rs. 250/- |
| Document retrieval | Rs. 200/- |
| Loan Cancellation Charges (and reversal of accounting charges) | Rs. 2500/- |
| Penal Charges | 0-6% per month on instalment overdue. |
| Legal Verification Charges | Rs. 5000/- |
| Technical Verification Charges/ valuation | Rs. 5000/- |
| Cersai Charges | Rs. 700/- |
| Issuance of duplicate interest certificate/ | Rs. 850/- |
| Renewal Charges / Renewal of the limit | Rs. 2500/- |
| Field collection charges per EMI | Rs. 850/- |
| Litigation Charges | Debit basis actual |
| *Please note that the above fee and charges are exclusive of GST, education cess and other government taxes, levies etc. The above schedule of charges is subject to change and will be at the sole discretion of the company, the change will be available on the company website- www.prestloans.com | |
| Note: The interest rate may differ from the above range due to internal approvals. | |
| Schedule of Charges(SOC) | Personal Loans for Higher Education/Coaching/Training/ Skill Development etc. |
| Processing Fees | 0%- 1% of the sanction amount |
| Rate of Interest | 12%- 18% range. |
| File Charges / Initial Money Deposit (IMD) | NIL |
| Document Handling and RCU charges | NIL |
| Foreclosure Charges | 0%- 1% of the loan amount |
| Pre/Part loan payment | 0%- 1% of the prepayment amount |
| MOD Registration expenses | NIL |
| Stamp Duty and Documentation charges | NIL |
| PDC / ECS / NACH Bounce Charges / per transaction | Upto Rs. 500/- per bouncing |
| Repayment instrument change/ swap charges | NIL |
| EMI repayment cycle date change (In addition to these, Gap interest will also apply) | NIL |
| Issuance of Duplicate No objection certificate (NOC) | NIL |
| Duplicate Statement of Accounts (SOA) | Upto Rs. 500/- |
| Document retrieval | Upto Rs. 500/- |
| Loan Cancellation Charges (and reversal of accounting charges) | NIL |
| Penal Charges | NIL |
| Cersai Charges | NIL |
| Field collection charges per EMI | Rs. 500/- per visit |
| Litigation Charges | On actual basis |
| *Please note that the above fee and charges are exclusive of GST, education cess and other government taxes, levies etc. The above schedule of charges is subject to change and will be at the sole discretion of the company, the change will be available on the company website- www.prestloans.com | |
| Note: The interest rate may differ from the above range due to internal approvals. | |
| Schedule of Charges(SOC) | Personal Loan for Corporate Employees |
| Processing Fees | 0%- 1% of the sanction amount |
| Rate of Interest | 18%- 24% range. |
| File Charges / Initial Money Deposit (IMD) | NIL |
| Document Handling and RCU charges | NIL |
| Foreclosure Charges | 0%- 1% of the loan amount |
| Pre/Part loan payment | 0%- 1% of the prepayment amount |
| MOD Registration expenses | NIL |
| Stamp Duty and Documentation charges | NIL |
| PDC / ECS / NACH Bounce Charges / per transaction | Upto Rs. 500/- per bouncing |
| Repayment instrument change/ swap charges | NIL |
| EMI repayment cycle date change (In addition to these, Gap interest will also apply) | NIL |
| Issuance of Duplicate No objection certificate (NOC) | NIL |
| Duplicate Statement of Accounts (SOA) | Upto Rs. 500/- |
| Document retrieval | Upto Rs. 500/- |
| Loan Cancellation Charges (and reversal of accounting charges) | NIL |
| Penal Charges | NIL |
| Cersai Charges | NIL |
| Field collection charges per EMI | Rs. 500/- per visit |
| Litigation Charges | On actual basis |
| *Please note that the above fee and charges are exclusive of GST, education cess and other government taxes, levies etc. The above schedule of charges is subject to change and will be at the sole discretion of the company, the change will be available on the company website- www.prestloans.com | |
| Note: The interest rate may differ from the above range due to internal approvals. | |
Variable Soft © 2024 | All Rights Reserved.
