Daily interest rate (दैनिक ब्याज दर)
A daily interest rate charges interest per day of borrowing, common in short-term personal loans and salary advances. It looks tiny per day but annualises fast, so always check the APR in the Key Fact Statement.
Worked example
0.1% per day on ₹15,000 = ₹15 per day. A 30-day loan costs ₹450 in interest (total repayment ₹15,450 before fees) — roughly 36.5% annualised.