Schedule of Charges
Barbarik Finco Private Limited | RBI-Registered NBFC
Official Policy Document (Schedule of Charges)
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Schedule of Interest Rates & Charges
Transparent summary of charges applicable for short-term personal loans on Taplend:
Annualized Rate of Interest (ROI): 24% p.a. – 36% p.a.
Processing Fees: 10% of loan principal amount + 18% GST
Risk Assessment Fee: 2% of loan principal amount + 18% GST
Loan Document Signing Fee: Flat ₹25 per disbursed loan
Prepayment / Foreclosure Charges: 4% foreclosure charges
Late Repayment Penalty: 2% of overdue principal on Day 1; 0.2% per day thereafter
Representative Example (as required by RBI)
| Parameter | CRM Calculation Value |
|---|---|
| Loan Amount | ₹50,000 |
| Tenure | 128 Days (8 Installments) |
| Interest Rate (ROI) | 36% p.a. |
| Processing Fee (10%) | ₹5,000 |
| Risk Assessment Fee (2%) | ₹1,000 |
| Document Signing Fee | ₹25 |
| 18% GST on Fees | ₹1,084.50 |
| Total Deducted Charges | ₹7,110 |
| Amount Disbursed | ₹42,890 |
| Total Interest | ₹6,400 |
| Installment EMI | ₹7,050 (× 8 Installments) |
| Total Repayment Amount | ₹56,400 |
| Annualized Percentage Rate (APR) | 75.99% |
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