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