RevFin
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| Rating | |||
|---|---|---|---|
| India | 100%149 | 3.40 |
Description
**1. ELECTRIC THREE-WHEELER LOAN**
Our Electric Three-Wheeler Loan is a closed ended credit product. With this loan, you borrow a fixed sum of money from us and repay it back in equal monthly instalments over the term of the loan. This loan is only available through our approved dealerships
Electric three-wheeler loan features:
Minimum loan amount: ₹40,000
Maximum loan amount: ₹4,50,000 or up to 90% of Vehicle On-road Price
Interest rates: Up to 14% flat interest rate OR up to 29% (Annualized reducing rate)
Processing fee: Up to 5% of loan amount
Tenure: 3 to 36 months
Minimum monthly income: ₹12,000
Customer Age: between 21 and 60 years at the time of loan application
No pre closure charges
No Loan cancellation charges
**2. ELECTRIC TWO-WHEELER LOAN**
Our Electric Two-Wheeler Loan is a closed ended credit product. With this loan, you borrow a fixed sum of money from us and repay it back in equal monthly instalments over the term of the loan. This loan is only available through our approved dealerships
Electric two-wheeler loan features
Minimum loan amount: ₹30,000
Maximum loan amount: ₹1,00,000 or up to 75% of Vehicle On-road Price
Interest rates: Up to 14% flat interest rate OR up to 29% (Annualized reducing rate)
Processing fee: Up to 10% of loan amount
Tenure: 3 to 15 months
Minimum monthly income: ₹12,000
Customer Age: 21-60 years
No pre closure charges
No Loan cancellation charges
**3. EV ANCILLARY LOAN**
Our Electric Vehicle (EV) Ancillary Loan is a closed ended credit product. This loan is taken to finance Ancillaries like batteries, conversion kits etc. This loan is only available through our approved dealerships.
EV ancillary loan features:
Minimum loan amount: ₹10,000
Maximum loan amount: ₹50,000
Interest rates: Up to 15% flat interest rate OR 27% (Annualized reducing rate)
Processing fee: Up to 10% of loan amount
Tenure: 6 to 36 months
Minimum monthly income: ₹12,000
Customer Age: between 21 and 60 years at the time of loan application
No pre closure charges
No Loan cancellation charges
**4. REV LOAN**
Our RevLoan is a personal line of credit extended only to our exiting customers.In this, you can draw down any amount in denominations of Rs.1,000 up to your credit limit.
Rev loan features
Minimum loan amount: ₹1,000
Maximum loan amount: ₹30,000
Loan Term: 3 to 36 months
Interest: 36%
Minimum monthly income: ₹15,000
Customer Age: 21-60 years
No processing fees
No pre closure charges
No Loan cancellation charges
**Representative Example: (applicable for the different loans)**
Loan Amount: ₹1,00,000
Tenure: 21 months
Interest rate: 25% (on reducing principal balance interest calculation)
EMI: ₹5,928
Total Interest Payable: ₹5,928 x 21 months - ₹1,00,000(Principal) = ₹24,488
Processing Fees (incl. GST)*: ₹3,000
Disbursed Amount: ₹1,00,000 - ₹3,000 = ₹97,000
Total Amount Payable: ₹5,928 x 21 months = ₹1,24,488
Total Cost of the Loan: Interest Amount + Processing Fees = ₹3,000 + ₹24,488 = ₹27,488
*Processing fees may vary depending on the product selected by the customer
**ABOUT REVFIN**
RevFin is a digital lending platform that allows individual users to apply for loans. All loans are issued through Aristo Securities Private Limited (a Non-Banking Finance Company, NBFC, regulated by the RBI), a subsidiary of Revfin Services Private Limited (Revfin).
Through the app, a user can:
Apply for a loan with us
Sign and complete all documentation required for their loan
Get a decision on their loan application
All loans are subject to local regulation, customer status, and affordability.
Reach out to us at
For loan queries, email us at [email protected] or call 8686738738