Example - For an ECIP of Rs. 50,000/-
Installment Period | ECIP Handling Fee | Installment Amount Payable per month | ||
---|---|---|---|---|
Capital Installment (Rs.) | ECIP Handling Fee (Rs.) | Total Monthly Installment (Rs.) | ||
6 months | 5% | (50,000)/6 = 8,333.33 | 2,500.00* | 8,333.33 |
12 months | 9% | (50,000)/12 = 4,166.67 | 4,500.00* | 4,166.67 |
24 months - Option 1 | 15% | (50,000)/24 = 2,083/33 | 7,500.00* | 2,083.33 |
24 months - Option 2 | 18% (monthly repayment) | (50,000)/24 = 2,083/33 | 9,000.00 | 2,458.33 |
(* One - time Handling Fee, charged up front on the disbursement of funds)