Type of fee

Applicable charges

Rate of interest

10% to 18% p.a.

Processing fee

Up to 2.95% of the loan amount (inclusive of applicable taxes).

Documentation charges

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

Prepayment charges

Full Pre-payment (Foreclosure) Charges:

Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount payable by the borrower as on the date of such full pre-payment.

Part Pre-payment Charges:

Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.

Bounce charges

Rs. 1,500 per bounce

“Bounce Charges” shall mean charges levied on each instance in the event of: (i) dishonour of any payment instrument irrespective of whether the customer subsequently makes the payment through an alternate mode or channel on the same day; and/or (ii) non-payment of instalment(s) on their respective due dates where any payment instrument is not registered/furnished; and/or (iii) rejection or failure of mandate registration by the customer’s bank.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of Up-to 24% 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 and deducted upfront from loan amount

Repossession charges

Recovery of charges maximum up to Rs. 50,000 (Inclusive of applicable taxes)

NOC for interstate transfer

Rs. 1,180 (inclusive of applicable taxes).

NOC to convert from private to commercial

Rs. 3,540 (inclusive of applicable taxes).

Other NOC

Rs.1,180 (Inclusive of applicable taxes)