Loan

Know easily whether you will get a loan or not

Find out if you can get a loan easily: OneScore is here to make credit management easier than ever. The new update comes with a simple app experience and smart ways to track all your credit accounts in detail – in one place.

On the latest version of OneScore, you can get a bird’s eye view of all your credit and loan accounts under one tab. You can still check your experience and CIBIL score for free while we share customized actions to help you build a better credit history or credit record.

Know easily whether you will get a loan or not

If you don’t have a credit score yet, OneScore 2.0 gives you the opportunity to learn credit moves that can take your credit score to the next level. Simulate your credit score and get tips on how to start your credit journey off to a great start.

my loan

OneScore 2.0’s all new features give you a bird’s eye view of all loan and credit card accounts. You will be able to set reminders on all your accounts, view your repayment history and all other crucial details.

Report errors

Seeing an incorrect entry on your credit history? Don’t worry, now you can report any error in your credit record with a simple click.

Customers applying for a personal loan should note the following:

Credit Partner : Federal Bank
Minimum tenure : 12 months
Annual Percentage Rate (APR) : 12.5% to 19%
Processing Fee : 1.5% to 2.5%

Please note that in all cases where the loan is opened on or after the 6th of the month, the EMI will fall on the 5th of the following month, even though the first interest demand date is up to the 5th of the following month. The interest from the period of loan opening to the date of first interest demand is known as broken period interest.

For example, on a personal loan of Rs. 55,000 with a repayment term of 4 years at an interest rate of 13.5%, the EMI is Rs. has been kept at 1,489. The working disbursement amount will be:

For example

Loan Amount : Rs.55,000
Processing Fee : (Rs. 999)
Broken Period Interest : (Rs. 244.11) (Based on the date on which the loan is disbursed, BPI is calculated on the basis of the interest till the first EMI date)
GST on Processing Fee : (Rs. 179.82)
Amount Disbursed to Customer : Rs.53,577

However, in case of change in payment mode or any delay or non-payment of EMI, additional charges / penal charges may also be applicable depending on the lender’s policy.

Important Link

OneScore: To download the Credit Score app: Click here

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