Type of fee
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Applicable charges
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Rate of interest
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10.50% to 22% p.a.
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Processing fee
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Up to 2.95% of the loan amount (inclusive of applicable taxes).
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Documentation charges
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Up to Rs. 2,360 (inclusive of applicable taxes).
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Flexi fee
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Term Loan – Not applicable
Flexi Term Loan (Flexi Dropline) - Up to Rs. 999/- (inclusive of applicable taxes)
Flexi Hybrid Loan (as applicable below)
- Up to Rs. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000/-
- Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-
- Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-
- Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-
- Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above
The charges above will be deducted upfront from the loan amount
*Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.
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Prepayment charges
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Full prepayment (foreclosure)
- Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
- Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
- Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule, during initial and subsequent tenure, on the date of such full prepayment.
Part-prepayment
- Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part pre-payment.
- Not applicable for Flexi variants
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Annual maintenance charges
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Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline):
- Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.
Flexi Hybrid Loan:
- Up to 0.59% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure.
- Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.
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Bounce charges
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In case of default of repayment instrument, Rs. 1,500 per bounce will be levied.
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Penal interest
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Delay in payment of monthly instalment shall attract penal interest at the rate of 3.5% per month on the monthly instalment outstanding, from the respective due date until the receipt of monthly instalment. |
Stamp duty (as per respective state)
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Payable as per state laws and deducted upfront from the loan amount.
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Legal and incidental charges
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Actual legal and incidental charges under applicable laws
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Repossession charges
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Repossession charges at actuals with a maximum capping of Rs. 50,000 (inclusive of applicable taxes)
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Auction charges
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At actuals
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Valuation charges
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At actuals
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Stockyard charges
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Rs. 118 per day for 60 days (inclusive of applicable taxes)
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Mandate registration charges
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In case of UPI mandate registration Re. 1 (inclusive of applicable taxes) will be collected from the customer.
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Mandate rejection charges
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Rs. 450 per month from the first month of the due date for the mandate rejected by the customer’s bank until the new mandate is registered.
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Loan re-booking
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Rs. 1,000 (inclusive of applicable taxes).
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Loan cancellation charges
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Rs. 2,360 (inclusive of applicable taxes) (Interest till cancellation to be borne by the customer).
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NOC for interstate transfer
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Rs. 1,180 (inclusive of applicable taxes).
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NOC to convert from private to commercial
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Rs. 3,540 (inclusive of applicable taxes).
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Duplicate NOC
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Rs. 500 (inclusive of applicable taxes).
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Broken period interest/ pre-EMI interest
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Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
- For Term Loan: Added to the first instalment
- For Flexi Term Loan: Added to the first instalment
- For Flexi Hybrid Loan: Added to the first instalment
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
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