Secured Business Loan

Type of fee

Applicable charges

Rate of interest

10% to 20% per annum

Processing fee

Up to 3.54% of the loan amount (inclusive of applicable taxes).

Documentation charges

Up to Rs. 2,360 (inclusive of applicable taxes).

Flexi Facility Charge

Term Loan – Not applicable

Flexi Loan – Up to Rs 999/- to Rs 29,999/- (Inclusive of applicable taxes)

will be deducted upfront from loan amount.

Prepayment charges

Full Pre-payment

• Term Loan: Up To 4.72% (Inclusive Of Applicable Taxes) On The Outstanding Loan Amount As On The Date Of Full Pre-Payment
• Flexi Term (Dropline) Loan: Up To 4.72% (Inclusive Of Applicable Taxes) on the outstanding loan amount, As On The Date Of Full Pre-Payment.
• Flexi Hybrid Term Loan: Up To 4.72% (Inclusive Of Applicable Taxes) on the outstanding loan amount, As On The Date Of Full Pre-Payment.
  

Part Pre-payment

• Term Loan: Up To 4.72% (Inclusive Of Applicable Taxes) Of Principal Loan Amount Prepaid On The Date Of Such Part Pre-Payment
• Not Applicable For Flexi Term (Dropline) Loan And Flexi Hybrid Term Loan

Note: If the primary Borrower is individual or Micro & Small Enterprises (MSEs) with or without co-borrower and loan is availed on Floating Rate of Interest, then there will be no Foreclosure / Part Prepayment Charges applicable, irrespective of the source of funds used for pre-payment of loans, either in part or in full, and without any minimum lock-in period.

Annual maintenance charges

Term Loan: Not Applicable
Flexi Term (Dropline) Loan: Not applicable
Flexi Hybrid Term Loan: Up to 0.295% (Inclusive of applicable taxes) of the Dropline Limit during Initial Loan tenure. Not applicable for subsequent loan tenure.

Bounce charges

Rs. 1,500 per bounce.

“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.

Penal charge

Penal charge is applicable in the following scenarios:
Delay in payment of instalment(s) shall attract Penal Charge at the rate of 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Stamp duty (as per respective state) -

Payable as per state laws

Mortgage origination fees

Up to Rs. 6,000 per property (inclusive of applicable taxes), charged upfront.

Note - In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount.

Repossession and incidental charges

Recovery of charges