Full disclosure of terms
Every term of your loan — the rate of interest, the Annual Percentage Rate, the processing fee, GST, the repayment period, the EMI and the total amount you will repay — is set out in writing in your Key Fact Statement before you accept the offer. Our standard rates, fees and repayment periods are published openly on our rates and terms page.
What we charge
- Rate of interest: 35% per annum, fixed.
- APR (inclusive of all fees): 39.82% – 54.94% per annum.
- Processing fee: up to 2% of the loan amount, plus 18% GST, deducted once at disbursal.
- Prepayment charges: Nil.
- Late payment fee: only where a repayment is delayed, as disclosed in your loan agreement.
Repayment period: minimum 61 days, maximum 365 days. We do not offer loans that require full repayment in less than 61 days.
No upfront charges
We never ask for a pre-approval, advance or processing fee before disbursal. Every charge is deducted from the loan amount at the time the loan is paid out, and is shown to you beforehand. There are no hidden charges.
Official communication only
We contact customers only from registered numbers and email addresses on the borrow.com.co domain. Repayments are collected only through our official repayment channel — never by direct transfer to an individual’s account.
Awareness of fraud
People outside our organisation create fake profiles and impersonate lenders to cheat customers in the name of pre-approval charges and loan approval schemes. We condemn this, and we ask you to deal only with our official channels and to report any such approach to [email protected].
Who lends to you
Borrow is not a lender. Your loan is issued by an RBI-registered NBFC, named in full in your loan documents. See our lending partners page for each partner’s legal name, CIN, registered office and grievance contacts.