Know the real cost of your loan before you sign
The EMI in the ad is rarely the whole story. Fees, penalties and the true yearly cost sit in the agreement and its Key Fact Statement. Share them and TellBrief shows what the loan really costs, what happens if you pay late, and what it costs to close it early.
What TellBrief tells you
- The amount you'll actually receive, after fees are deducted
- The interest rate and the APR, the full yearly cost including fees
- Late payment, bounce and foreclosure charges
- Anything unusual, like insurance added to the loan
Words you'll see
- Key Fact Statement
- A short summary of the loan's costs that lenders must give you, under RBI rules, before you sign.
- APR
- Annual percentage rate: the yearly cost of the loan including fees, so you can compare loans fairly.
- Processing fee
- A fee for granting the loan, often deducted from the amount you receive.
- Foreclosure
- Paying the loan off early. Some loans charge for it; the agreement says how much.
Questions
What should I check first in a loan agreement?
The amount you receive after fees, the APR, the late payment charges and the foreclosure charges. TellBrief puts these first.
Does it work for home loans and credit cards too?
Yes. Share the agreement, sanction letter or card terms.
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General information, not legal, medical or financial advice.
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