Interest Rate Policy

This Interest Rate Policy sets out the principles followed by Jay Finance Private Limited ("the Company") in determining the interest rates, processing fees, and other charges applicable to its loan products, in line with the Reserve Bank of India's guidelines for Non-Banking Financial Companies. The objective is to ensure that pricing is transparent, non-discriminatory, and reasonably related to the risk undertaken.

Interest rates are determined based on an internal rate model that considers the Company's cost of funds, operating expenses, margin, and an appropriate risk premium. Rates are not excessive, are applied consistently within defined risk categories, and are reviewed periodically by the Board.

• Cost of borrowing, cost of operations, and marketing cost.
• Borrower risk profile, including credit history and repayment capacity.
• Loan tenure, amount, and product type.
• Prevailing market conditions and regulatory guidelines.

Given the nature of Quik Loans products, the applicable interest rate is determined on a case-by-case basis for each borrower and product, based on the risk factors set out above. The exact rate of interest, expressed on an annualized basis, along with the method of its application, is communicated to the borrower in writing through the sanction letter and loan agreement prior to disbursement, in accordance with RBI's Fair Practice Code guidelines.

In addition to interest, the Company may levy processing fees, penal charges for delayed repayment, and other charges. The applicable fees and charges for each loan are disclosed transparently to the borrower in the sanction letter and loan agreement prior to acceptance, and no charges are levied that have not been disclosed upfront.

The Company ensures that every borrower is made aware of the exact annualized rate of interest and all applicable charges before availing a loan. Any change in interest rates or charges is communicated to the borrower in advance and applied only prospectively.

This Interest Rate Policy, and the interest rate model underlying it, is approved by the Board of Directors and reviewed periodically to reflect changes in the cost of funds, market conditions, and regulatory requirements.

This policy has been formulated in compliance with RBI's guidelines on interest rate determination and the Fair Practice Code for NBFCs, and is intended to ensure that the Company does not charge excessive interest to its customers.

For questions regarding the interest rate or charges applicable to your loan, please contact us at info@quikloans.in or call +91 8448118306.