Charges to avail a Two-Wheeler Loan
| Fee | Amount to be paid |
|---|---|
| Rack Interest Rate | EMI starts from 14.5% based on vehicle segment and customer creditworthiness |
| Loan processing charges | Up to 2.5% of the loan amount NIL processing fees for loan facilities up to ₹5 lakh availed by Micro and Small Enterprises subject to URC submission before disbursal |
| Stamp Duty and Other Statutory Charges | As per applicable laws of the state |
| Documentation Charges | Up to 2% of the loan amount |
| PDD Collection Charges | Up to ₹500 |
| RTO Charges | At Actual |
Charges post loan disbursement
| Fee | Amount to be paid |
|---|---|
| Delayed Instalment Payment Charge | 18% p.a. on the overdue instalment amount |
| Legal, Repossession and Incidental charges | At actuals |
| Amortization Schedule Charges | ₹50 |
| Repayment mode change charges | ₹500 |
| Payment Return Charges | ₹450 |
| Loan Cancellation Charges | NIL Note: The client would be charged interest for the interim period between the date of the loan disbursement and loan cancellation. Processing Fees, Documentation Charges, and Stamp Duty would be retained. |
Pre-mature closure charges
| Fee | Amount to be paid |
|---|---|
| Premature closure charges (on principal outstanding) |
Up to 12 months: 6% of principal outstanding 13-24 months from 1st EMI repayment: 5% of principal outstanding Post 24 months from 1st EMI repayment: 3% of principal outstanding NIL prepayment charges for fixed-rate loan facility up to ₹50 lakh availed by Micro and Small Enterprises and closure from own source Note: Please have a service request registered regarding a Two-Wheeler loan for closure. Click here to raise an online token for the same |
Other charges
| Fee | Amount to be paid |
| No Due Certificate / No Objection Certificate (NOC | Nil |
| Duplicate NOC | ₹250 per request |
| CIBIL Charges (only on request) | ₹50 |
| Special NOC Charges | ₹200 |
| Loan Rebooking/ Reschedulement Charges | ₹400 |
Rates offered to customer during the period January 24 to March 24
| Product | Average | ||
|---|---|---|---|
| Min APR | Max APR | Avg APR | |
| Superbike Two-Wheeler Loan | 9.45% | 15.90% | 10.32% |
| Two-Wheeler Loan | 9.99% | 24.95% | 19.03% |
Annual percentage rate offered to customer during the period of January 24 to March 24
| Product | Average | ||
|---|---|---|---|
| Min APR | Max APR | Avg APR | |
| Superbike Two-Wheeler Loan | 9.45% | 15.90% | 10.32% |
| Two-Wheeler Loan | 9.99% | 24.95% | 19.03% |