Two-wheeler loan rate of interest

Fees & Charges Name

Amount (₹) / Percentage (%)

Processing Fee

Up 2.36% of the loan amount (inclusive of applicable taxes)

Documentation & Hypothecation Charges

Rs. 750/- (inclusive of applicable taxes) Collected upfront

Stamp Duty (as per respective state)

Payable as per state laws and collected upfront

Pre-payment Charges

Full Prepayment:

• 3.54% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment if such prepayment is made within 6 months of 1^st monthly instalment
• NIL charges if prepayment made after 6 months of 1^st monthly instalment
• Full prepayment allowed Post clearance of 1^st monthly instalment

Part Prepayment:

• 3.54% (inclusive of applicable taxes) on the outstanding loan amount as on the date of Part prepayment if such prepayment is made within 6 months of 1^st monthly instalment
• NIL charges if Part prepayment made after 6 months of 1^st monthly instalment
• Part prepayment allowed Post clearance of 1^st monthly instalment

Bounce Charge

In case of default of repayment instrument Rs. 531/- (Inclusive of applicable taxes) will be levied

Penal Interest

Delay in payment of monthly instalment shall attract penal interest at the rate of 3% per month on the outstanding monthly instalment from the respective due date until the date of receipt

Mandate Registration Charge

Rs. 118 (Inclusive of applicable taxes) if applicable

Mandate Rejection Charge

Rs. 450/- (Inclusive of applicable taxes) per month from the first month of due date for mandate rejected by customer’s bank until the new mandate is registered