How our rates and fees work
The Annual Percentage Rate (APR) is the true yearly cost of borrowing. It is the interest charged on your loan plus the one-time processing fee and the GST on that fee, expressed as a single annual percentage. Because it captures every charge rather than just the headline interest rate, comparing APRs is the most reliable way to compare offers from different lenders.
Borrow offers a fixed rate of interest of 35% per annum. Including the processing fee and GST, the APR on our loans works out between 39.82% and 54.94% per annum depending on the repayment period you choose.
How is the APR calculated?
Your APR is determined from your credit score, the loan amount, your income and the repayment period you select. A strong CIBIL score generally leads to a lower APR, while a weak score may lead to a higher one — though some lenders apply the same rate to every loan regardless of credit score.
Note that the processing fee is charged once, at the start of the loan. Spread over a short repayment period it represents a larger share of the annual cost, which is why the APR on a 61-day loan is higher than on a 365-day loan even though the rate of interest is identical.
Representative example
A customer borrowing ₹50,000 over 12 months at our fixed 35% per annum rate:
| Loan amount | ₹50,000 |
|---|---|
| Rate of interest | 35% per annum (fixed) |
| Repayment period | 12 months (365 days) |
| Processing fee (2% of loan amount) | ₹1,000 |
| GST on processing fee (18%, exclusive) | ₹180 |
| Amount disbursed to your bank account | ₹48,820 |
| Monthly EMI | ₹4,998 |
| Total interest payable | ₹9,978 |
| Total repayment amount | ₹59,978 |
| APR (inclusive of interest, processing fee and GST) | 39.82% per annum |
Want to try your own figures? Use our personal loan calculator.
Loan amount and repayment period
We do not offer loans that require full repayment in less than 61 days. Every Borrow loan is repaid in instalments over a period of at least 61 days and no more than 365 days.
Interest rates and fees
- Rate of interest: 35% per annum, fixed for the life of the loan.
- Annual Percentage Rate (APR): 39.82% – 54.94% per annum, inclusive of interest, processing fee and GST. Maximum APR: 54.94% per annum.
- Processing fee: up to 2% of the loan amount, deducted once at disbursal.
- GST: 18% on the processing fee, as applicable under prevailing law.
- Late payment fee: charged only if a repayment is delayed, as per your lender’s terms and disclosed in your loan agreement.
- Prepayment charges: Nil — there is no penalty for repaying early.
- Hidden charges: None. Every cost is disclosed in your Key Fact Statement before you accept the loan.
Borrow never asks for an advance, approval or processing fee before your loan is disbursed. All charges are deducted from the loan amount at disbursal and shown to you in writing beforehand. Non-payment on time will adversely affect your credit score.
Company accreditation
Borrow is a digital lending platform operated by Basel Investments Limited. Borrow is not a lender. Every loan offered through this website is underwritten and issued by an RBI-registered Non-Banking Financial Company, named in full in your Key Fact Statement and loan agreement before you accept any offer.
FOCUS INDUSTRIAL RESOURCES LIMITED
CIN: L15319DL1985PLC021348 · RBI-registered Non-Banking Financial Company
- Registered office
- Office No. 55, S/F, FIE, Patparganj Industrial Area, Hasanpur Bus Depot Opposite, New Delhi, Delhi - 110092
- Website
- focusindustrial.in
- Grievance Officer
- Mr. Rajesh Kumar · +91 7303003647 · [email protected]
- Nodal Officer
- Ms. Neeru Ahuja · +91 8800825682 · [email protected]
A full list with grievance contacts is on our lending partners page.