Business Maximum Intrest law for NBFS

First of all, the loan agreement in which you and India-Bulls have entered into is an Illegal-one. It's mainly because NBFCs' cannot issue Unsecured loans without disclosing Rate of Interest on their Loan-Contracts. and as such, they should follow the RBI Guidelines to tender Secured-loans by securing a Moveable/Immoveab le Asset/Assets or by deducting a portion of fixed amount of money from the Bank Accounts of the Borrower towards the Principal & Interest-Rate separately. However, Interest-Rates need to be Standard & Reasonable ones. Moreover, as the Rate of Interest was not mentioned on the Loan-Agreement, it was a mere illegal agreement & as such, you are entitled to not pay such unjustifiable high-interest rates.