Interest is calculated daily on your outstanding loan amount and charged monthly. Only the interest has to be paid every month; the principal can be repaid any time before your tenure ends.
Steps
- Log in to your loan dashboard at zerodhacapital.com.
- Click Make repayment.
- Select Minimum amount or Custom amount.
- Enter the amount you wish to repay and complete the payment.
When and how
- The monthly interest payment must be made between the 1st and 7th of every month.
- Principal repayments can be made at any time.
- Repayments can be made using UPI or netbanking.
Zerodha Capital does not accept repayments through credit cards, NEFT/RTGS, cash, cheques, or bank accounts that do not belong to you.
If the interest payment is made after the 7th of the month, penal charges of 18% per annum plus GST apply on the outstanding interest until it is paid.