About Fashion Rupee
Fashion Rupee's partner NBFC is Jayachelve Financing And Leasing Private Limited, which is registered and regulated by the Reserve Bank of India.
Fashion Rupee provides intermediary services to help NBFCs connect with users, and does not provide loans directly to users. The purpose of this is to provide you with safe and compliant services.
Frequently Asked Questions
1. 100% online application process
2. Competitive loan amount and interest rate in the market
3. Transparent and secure processes
4. Absolute security of information
We provide services to a wide range of clients and meet the following eligibility criteria:
Indian nationals
Age range: 20 to 55 years old
Stable employment: Applicants must have a stable income to qualify for loans
Download the Fashion Rupee application
Register using your mobile number
Input and submit the required information
Experience a rapid review process
Following approval, receive direct fund transfers to your account
Characteristics of loans
Loan amount range: ₹ 5,000 to ₹ 100,000
Maximum annual interest rate (APR): 22%
Handling fee: up to 1% of the loan amount, plus 18% GST
Repayment period: 100 to 730 days
How is the loan calculated
Assuming your loan amount is ₹20,000, the loan term is 180 days, and the APR is 20%, the specific calculation method is as follows
Goods and services tax on handling fee: ₹ 36 (18% of ₹ 200)
Handling fee: ₹ 200 (1% * 20,000)
GST: ₹ 36 (18% * 200)
Interest: ₹ 1,972.6 (₹ 20,000 * 20% * 180/365)
Loan cost: ₹ 2,208.6=₹ 200+₹ 36+₹ 1,972.6 (handling fee+GST+interest)
Total repayment amount: ₹ 22,208.6=₹ 20,000+₹ 2,208.6 (principal+loan cost)
So your monthly repayment amount is: ₹ 3,701.4=₹ 22,208.6/6
