Limit Scope

Limit Scope provides a digital way for users to review line of credit account information, including account status, available limit details, usage details, billing-related information, and applicable cost information.

The app is built around clear credit line account information. Users may complete required onboarding, identity verification, and account review steps before credit line related features become available. If a credit limit is assigned, keeping the assigned limit unused does not create interest or service fees. Charges apply only when a user uses part of the available limit, and only on the amount actually used.

What Limit Scope Provides

Account Review in the App

Users can complete onboarding, identity verification, and account review steps through a digital process.

Credit Line Information

The app shows key account information, including assigned limit, remaining available amount, active usage details, account status, and billing-related information.

Account-Based Usage Details

Eligible users may review available limit information and usage details within the app, subject to verification results, account status, billing status, eligibility review, and applicable rules shown in the app.

Cost Information Before Confirmation

Usage-related charges and applicable rules are shown before the user confirms any use of the available limit. This helps users review cost information before making a decision.

No Charge for Unused Limit

If the assigned credit limit is not used, the unused portion does not generate interest or service fees.

Security Measures

Limit Scope uses encryption and reasonable technical safeguards to help protect account information and service activity.

Usage Terms and Cost Information

Available credit limit range: INR 1,000 to INR 50,000

Usage duration: Based on the actual number of days the used amount remains active, up to 365 days. Charges are calculated only for the actual usage period and only on the amount used.

Daily usage rate: up to 0.05% per day

Maximum annualized rate: up to 18.25% APR

Service fee: up to 1% of the used amount

The APR and usage-related charges apply only to the amount actually used. No interest or service fee is charged on any unused portion of the assigned credit limit.

Charge Illustration

The example below is for explanation only.

Amount used: INR 8,000

Usage duration: 100 days

Daily usage rate: 0.05%

Service fee rate: 1%

Interest: INR 8,000 × 0.05% × 100 days = INR 400

Service fee: INR 8,000 × 1% = INR 80

Estimated total amount payable: INR 8,480

The actual payable amount may vary based on the amount used, actual usage duration, applicable fees, billing status, account status, and the final terms shown in the app before confirmation.

Who May Use the App

Users must be at least 18 years old, hold a valid government-issued identification document, complete the required verification process, and meet the applicable account review requirements.

Contact

For questions about account access, verification, usage details, billing information, or app support, contact us at service@limitscope.com.