Hipocket

Hipocket Safe instant loan

09/05/2022

Total interest: 5,000*20%*91/365=249
Service fee: 5,000*10%=500
In-hand amount: loan amount – service fee=5,000-500=4,500
Total repayment amount at due date: loan amount + total interest=5,000+249= 5,249
Monthly payment is: 5,249/3 =1749.7

09/05/2022

Representative example of cost of the loan
Loan amount: ₹5,000
Tenure: 91 days(3 months)
Annual interest rate(APR) : 20%
Service fee: 10%

09/05/2022

Product Introduction
Loan amount: from ₹2,000 to ₹20,000
Tenure: the shortest tenure is 91 days, the longest tenure is 365 days.
Annual interest rate: 10%-20% per annum
Maximum APR: 20%
Service Fee: 5%-10% for one-time charge. It depends on the application details and risk profile.
Other fees:0

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