If you took a loan before September 2025, the following terms continue to apply:
- Interest rate: flat 11% per annum
- Loan tenure: maximum of 1 year
The applicable terms and conditions are set out in your Master Loan Agreement (MLA), which was emailed to you when you availed the loan. Refer to it for full details.
To move to the new loan structure with updated terms, you must first close your existing loan and then avail a fresh loan under the new terms.
The grace period also differs between the two structures. Loans taken before 01/09/2025 are demand loans with a 30-day grace period; loans taken on or after that date are term loans with a 7-day grace period.