CashBean charging heavy Processing Fee for loan 15% for 15days is it the approval by govt of India

Name: Ajay Complaint Registered
State: Karnataka

They are charging very heavy interest in the name of processing fees at 15% for 14days

Complaint Status: Solution Given

Request: Very Urgent

Complaint Suggestion

Hi Ajay,

For Personal Loan 15 Day tenure loan products – Processing fee is charged upto 0.66% per day.
Note:GST charges &18% are applicable on Processing Fee
The processing fee(including GST) are deducted from your loan amount and the remaining amount will be disbursed to your account.

CashBean NBFC follows RBI Rules & Regulation
Note: Please do read the FAQ Section. (Loan Agreement).

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