Ninjacart Services Private Limited
| Partner Website | https://www.ninjacartservices.com/ | ||||||||||||
| Digital Lending App | NinjaCart | ||||||||||||
| Link to Digital Lending App | https://play.google.com/store/apps/details?id=com.nc.trader https://apps.apple.com/in/app/ninja-app/id1626963855 |
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Product Details
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| Partner Grievance Redressal Officer |
Raghavendra Rao, Nodal Grievance Redressal Officer Email ID: grievance@ninjacartservices.com Contact: 080-35018270 Address: 2nd floor Tower E, Helios Business Park, New Horizon College Bus stop, Service Road, Chandana, Kadubeesanahalli, Bengaluru, Karnataka - 560103 |
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| Remarks | NinjaCart provides services with respect to customer sourcing and servicing, including debt recovery |
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Services
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Digital Lending Interest Rates, Fees & Charges
Rate of Interest and applicable charges on Digital Lending:
1) Digital personal loans, ROI starting from 10%*
2) BNPL/Digital CD loans, ROI starting from 10.45%*
3) Trade Finance, Business Loans : ROI starting from 15%*
*T&C Apply*
Digital personal loans
Charges Description |
Fees / Charges |
Processing fees /Usage fee |
Upto 3.5% of Loan Amount |
Late payment/Penal charges |
Upto 2.5% of the unpaid EMI |
EMI Return/Bounce Charges |
7.5% of Bounced EMI Amount with Min. charge of INR 400/- & Max. of INR 1000/- (excluding GST) |
EMI Pickup/Collection Charge |
Upto INR 500/- as applicable |
Foreclosure Chargers/Part Payment Charges |
Upto 5% of Principal loan outstanding |
Insurance Charge (if any linked to the loan) |
Upto 5% of loan amount |
Loan Cancellation/cooling off period |
For Digital Loans, it can be cancelled within cooling off period with a payment of proportionate APR/ROI. Post Cooling off period, the loan will be treated as standard foreclosure with upto 5% charge. |
Digital Consumer Durable Loans (Digital CD/BNPL)
Charges Description |
Fees / Charges |
Processing fees |
Upto 3.5% of Loan Amount |
Facilitation Fees/Activation Fee/Usage fee |
Upto INR 500/- |
Late payment/Penal charges |
Upto 5% per month of the overdue amount per instance of default |
EMI Bounce Charges |
15% of Bounced EMI Amount Up to INR 750/- (excluding GST) |
EMI Pickup/Collection Charge |
Upto INR 350/- as applicable |
Foreclosure Chargers/Part Payment Charges |
Upto 5% of Principal loan outstanding |
Cancellation & Rebooking charges/Cooling off period |
Digital BNPL Loans, it can be cancelled within 3 days with proportionate APR/ROI as applicable. Post 3 days of Cooling off period, the loan will be treated as standard foreclosure with upto 5% charge. |
Trade Finance, Business Loans
| Charges Description | Fees / Charges |
| Late payment/Penal charges | Up to 24% P.A (to be levied on overdue amount and for overdue period) |
1. GST, as applicable, will be levied on all service charges.
2. Foreclosure charges will be levied based on the applicability and other Terms and Conditions.
3. The above Schedule of Charges is subject to revision from time to time by the Bank.
Important Links
| 1 | Sachet Portal | https://sachet.rbi.org.in/ |
| 2 | RBI's Complaint Management System (CMS) | https://cms.rbi.org.in/ |
| 3 | IDFC FIRST Bank Privacy Policy | https://www.idfcfirstbank.com/privacy-policy |
| 4 | Grievance Redressal | https://www.idfcfirstbank.com/support/grievance-redressal |
| 5 | Banking Ombudsman | https://www.idfcfirstbank.com/banking-ombudsman |