@@ -103,12 +103,99 @@ const Interest = (props) => {
103103 <Heading
104104 content={<>2. Interest rate methodology and principles</>}
105105 />
106- <Text content={<></>} />
106+ <Text
107+ content={
108+ <>
109+ In compliance with the RBI directions, the interest rate
110+ policy of the Company is as follows:
111+ </>
112+ }
113+ />
114+ <ul>
115+ <li>
116+ Redux has its own model of arriving at interest rates taking
117+ into consideration, inter alia the Company’s cost of funds, risk
118+ premium and other administrative costs.
119+ </li>
120+ <li>
121+ The interest rate for different types of loans is computed based
122+ on loan tenor and risk calculations.
123+ </li>
124+ <li>
125+ Other factors that will be taken into account to arrive at the
126+ final lending rate will be interest, loan risk, default risk,
127+ liquidity risk and market risk in the related business segment,
128+ historical performance of similar clients, profile of the
129+ borrower, tenure of relationship with the borrower, repayment
130+ track record of the borrower in case of existing customer, etc.
131+ Such information is gathered based on information provided by
132+ the borrower, the Company’s records, etc.
133+ </li>
134+ <li>
135+ The rate of interest for the same product and tenor availed
136+ during same period by different customers could vary depending
137+ upon any of / combination of the above factors, borrower’s
138+ individual loan profile.
139+ </li>
140+ <li>
141+ The interest rates could be offered on fixed or variable basis,
142+ of varying terms and repayment timeline, depending upon the
143+ default risk of the borrowers.
144+ </li>
145+ <li>
146+ For the above interest, the range could vary between eighteen
147+ and thirty-six per cent annually.
148+ </li>
149+ <li>
150+ The interest could be charged on monthly, quarterly or
151+ half-yearly rests for different products.
152+ </li>
153+ <li>
154+ The interest rate will be communicated to the customers prior to
155+ submission of the loan application and EMI apportionment towards
156+ interest and principal dues will also be made available to the
157+ customer.
158+ </li>
159+ <li>
160+ Interest payments will be included in the overall payment
161+ schedule and the interest will be deemed payable immediately on
162+ the due date as communicated and no grace period for payment of
163+ interest will be allowed.
164+ </li>
165+ <li>
166+ In addition to the interest charged on the loan, the company may
167+ levy additional / penal interest for delay or default in making
168+ payment of any dues. These additional or penal charges will be
169+ communicated to the customer prior to submission of loan
170+ application.{" "}
171+ </li>
172+ <li>
173+ The Company will also levy other charges such as processing
174+ fees, origination fees, late payment charges, re-scheduling
175+ charges, pre-payment / foreclosure charges, part disbursement
176+ charges, etc., wherever considered necessary.
177+ </li>
178+ <li>
179+ Claims for refund or waiver of charges / penal interest /
180+ additional interest will normally not be entertained by the
181+ Company and it is at the sole discretion of the company to deal
182+ with such requests.
183+ </li>
184+ <li>
185+ Any changes to the interest rate will be reviewed by the Asset
186+ Liability Committee (ALCO) and will be periodically published on
187+ the Company website and communicated to the borrowers as deemed
188+ fit by the Company.
189+ </li>
190+ <li>
191+ Such revisions in the interest rates and other charges will be
192+ prospective in effect
193+ </li>
194+ </ul>
107195 <Heading content={<>3. Key responsibilities of the Company</>} />
108196 <Text content={<></>} />
109197 <Heading content={<>4. Review of the policy</>} />
110198 <Text content={<></>} /> */ }
111-
112199 < ReactMarkdown source = { allBlogs [ 0 ] . document . content } />
113200 </ Container >
114201 </ ContentWrapper >
@@ -117,7 +204,7 @@ const Interest = (props) => {
117204 ) ;
118205} ;
119206
120- export async function getServerSideProps ( ) {
207+ export async function getStaticProps ( ) {
121208 const blogDirectory = path . join ( process . cwd ( ) , "src/common/data/interest" ) ;
122209 const filenames = fs . readdirSync ( blogDirectory ) ;
123210 const total = filenames . length ;
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