Vendor finance

Type of fee

Applicable charges

Rate of interest

14% to 30% per annum

Processing fees

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.

Flexi Facility Charge

Term Loan - Not applicable

Flexi Term Loan (Flexi Dropline) - Rs. 999/- (inclusive of applicable taxes)

Flexi Hybrid Loan (as applicable below) -

• Up to Rs. 6,499/- (inclusive of applicable taxes) for loan amount less than Rs. 1000000/-.
• Up to Rs. 8,999/- (inclusive of applicable taxes) for loan amount from Rs. 1000000/- to Rs. 1499999/-.
• Up to Rs. 13,999/- (inclusive of applicable taxes) for loan amount from Rs. 15,00,000/- to Rs. 24,99,999/-
• Up to Rs. 16,999/- (inclusive of applicable taxes) for loan amount of Rs. 25,00,000/- and above.

*The Flexi charges above will be deducted upfront from the loan amount
*Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.

Penal charge

Delay in payment of instalment(s) shall attract Penal Charge of Rs. 40 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Part-prepayment charges*

Full Pre-payment

• Term Loan: 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment
• Flexi Term Loan (Flexi Dropline): 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: 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.

Part Pre-payment

• 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 Term Loan (Flexi Dropline) and Hybrid Flexi.

Stamp duty

Payable as per state laws and deducted upfront from loan amount

Broken period interest

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: Deducted from the loan disbursement
• 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.

Annual maintenance charges

Term Loan – not applicable.

Flexi Term Loan (Flexi Dropline): Up to 0.413% (inclusive of applicable taxes)

Flexi Hybrid Loan: Up to 1.18% (inclusive of applicable taxes) of the total withdrawable amount during initial loan tenure. 0.413% (inclusive of applicable taxes) of total withdrawable amount during subsequent loan tenure.