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Terms of Use

These Terms and Conditions apply to and regulate the provision of credit facility by Eight Finance Private Limited for loans disbursed via Kodo Pay on Credit. 

Purpose

Working capital requirements

Processing Fee

Nil

Loan Tenure Options

Interest Rate

- Pay with Next Statement Due Date*

17.4% p.a. (1.45% p.m.)

- 3 Months EMI**

20.4% p.a. (1.7% p.m.)

Review/ Renewal Fee

Nil

Non Utilisation Charges

Nil

Penal Charge

2.5% of due amount, plus applicable taxes

Due Date

8th of every month

*Example-1:

Let’s assume you made a vendor payment of 1,00,000 on 7th January, 2023 using Kodo Pay on Credit. You will be charged an interest rate of 1.45% on your principal amount of 1,00,000 and your total amount due will be 1,01,546.67 in the next billing cycle i.e. on 8th February, 2023.

**Example-2:

Let’s assume you made a vendor payment of 1,00,000 on 10th January, 2023 using Kodo Pay on Credit. You will be charged an interest rate of 1.7% p.m. on your principal amount of 1,00,000 and you can repay as per the following repayment schedule:

Repayment Schedule

  • BPI (Broken period interest) = ₹1,643.33 due on February 8th 2023
  • EMI #1 = ₹34,473.03 due on March 8th 2023
  • EMI #2 = ₹34,473.03 due on April 8th 2023
  • EMI #3 = ₹34,473.03 due on May 8th  2023

Details of Nodal Grievance Officer:

Name: Deepti Sanghi 

Designation: Director

Address: 1108, 11th Floor, One Lodha Place, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra – 400013

Phone Number: +91-9321024013

Email ID: support@eightfinance.com