The APR (Annual Percentage Rate) of a loan is the annual cost of credit to the borrower which includes interest rate and all other charges associated with the credit facility. The APR is provided in the form of a percentage providing potential loan applicants with adequate information to make informed financial decisions. Please note that Rapid Fund Provider India Limited does not charge any fees directly from the borrower.

The minimum and maximum repayment period for the loans facilitated by Rapid Fund Provider India Limited is between 3 to 60 months. The APR for personal loans usually ranges between 10.5% to 36%. For example, where a user has availed a personal loan of Rs. 1,00,000 @ 15% p.a. with a repayment tenure of 36 months. The processing fee charged for this loan is 3% of the loan amount, which amounts to Rs 3,000. Therefore, the total borrowing cost of your personal loan will be Rs 27,795 and its APR will be 17.17%.