Cheque Advance
The product will be an advance against cheques banked from reputable organizations
Requirements
- Maximum amount - Not more than 50% of the cheque value
- Repayment period – Repayable immediately after the cheque clears
- Interest rate - 10% upfront
Features
- One month's salary
- The maximum amount shall not exceed 1/31/3 of net salary proceeds
- Repayment period - 1 month
- Interest rate - 10%
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