Rates of interest charged on loans depend on the credit risk associated with the loan, the tenure of the loan and the prevailing rates of interest in the market (which also determines cost of funds). Usually for loans of a longer tenure, the rate of interest is higher. The credit risk associated with the loan depends on the credit worthiness of the borrower and the quality and liquidity of security provided. Borrowers that have uncertain income due to cyclical / seasonal businesses and low net worth are generally regarded to be high risk; borrowers with stable incomes but low net worth are generally regarded to be medium risk and borrowers who have stable and regular sources of income, and high net worth are regarded as low risk customers from a credit perspective. Credit risk relating to a borrower may be mitigated by providing adequate security or credit enhancements like guarantees by more creditworthy parties. Our offered rates of interest to customers are linked to the IIFLW Prime Lending Rate, which is a reflection of our cost of raising funds from the capital markets. Kindly refer to the Interest Rate Policy displayed on the website of the Company (www.iiflwealthfinance.com) for the interest rates charged by the Company.
With Effect From 01/11/2018 IIFLW PLR stands at 10.75% till further notice.