Documentation Charges* 

₹700/- per case (Charges NOT to be refunded in case of case cancellation). 

Premature Closure Charges (For Full Payment)* 

6% of Principal Outstanding for pre-closures within 1 year 
5% of Principal Outstanding for pre-closures within 13 – 24 months from 1st EMI 
3% of Principal Outstanding for pre-closures post 24 months from 1st EMI 
 
NIL Premature Closure Charges (For Full Payment) for Fixed rate loan facility up to ₹50 Lakh availed by Micro & Small Enterprises and Closure from Own Source 

Premature Closure Charges (For Part Payment)* 

Part payment will be allowed twice only during loan tenure. 
Part payment is allowed only once a year. 
At any point of time, part payment will not increase beyond 25% of Principal Outstanding. 
 
5% on the part payment amount in case part prepayment is within 24 months from 1st EMI 
3% on the part payment amount in case part prepaymet is post 24 months from 1st EMI 
 
NIL Premature Closure Charges (For Part Payment) for Fixed rate loan facility up to ₹50 Lakh availed by Micro & Small Enterprises and Closure from Own Source 

Stamp Duty & Other Statutory Charges (Non -refundable) 

As per actuals which are applicable in laws of the state. (Including RTO charges). 

Interest on delayed EMI Payment 

Interest will be charged on unpaid EMI for the number of days EMI is late. This interest is calculated at loan's contracted rate and will be added to next EMl. 

Processing fees(Non – refundable) 

Up to 0.5% of the loan amount subject to a minimum of ₹3,500 and a maximum of ₹8,000. 

For loan facilities up to ₹5 Lakh availed by Micro & Small Enterprises subject to URC submission prior to disbursal 

Repayment Mode changes charges 

₹500/- per instance 

Loan cancellation Charges 

Nil cancellation charges. 
(However, interest charges from date of disbursement till the date of cancellation of loan will be borne by the customer. Processing fee Stamp duty and documentation Charges are non-refundable charges and would not be waived / refunded in case of loan cancellation.) 

Legal, Repossession & Incidental charges 

At actuals 

Duplicate no due certificate / NOC 

₹250/- Per NOC 

Loan Re-schedulement charges/ rebooking charges 

₹400/- will be charged (If changes are required on RC, then refundable Security Deposit – non-interest bearing of ₹5000 would be required. Will repay post borrowers provide the transferred Registration Certificate to the bank) 

LPG/ CNG NOC/ Other Special NOC 

₹200/- Instance 

CIBIL Charges (only on request) 

₹50/- 

Payment Return Charges* 

₹450/- per Instance 

Amortisation Schedule Charges / Repayment schedule Charges 

Customers can download the schedule from E-Delight free of cost. ₹50/- per schedule would be charged at the customer service desk. 

Commercial / Personal Use NOC (conversion subject to credit approval) 

₹200/- per NOC 

Registration Certificate (RC) Collection Fees 

₹600/ (to be refunded in case of cancellation) 

Rack interest rate 

8.20% onwards depending on loan amount, tenure and credit score. 

RTO Transfer Charges 

At Actuals 

Objective 

Special Scheme of funding Electric Vehicles for tenor up to 8 years 

Locations 

Scheme will be applicable for all approved locations in India 

Product Parameters 

Eligible Applicants 

Salaried applicants working in Super Cat A, Cat A and central government employees 

Eligible model 

Electric vehicles 
Premium segment vehicles will not be eligible 

Underwriting parameters 

Minimum FOIR should be 70% 
Bureau/Dedupe has to be a match and good match 
Standard LTV will be offered - 90% ex-showroom 
(considering the higher tenor, we need to ensure customer 
equity in the vehicle) 
Residence ownership proof is mandatory else permanent 
address proof is required. 
Banking - 3 months banking with AQB of 1.5 time of EMI 
Multiplier will be 3 times 
MLB Band should be A and B only 

Max tenure 

8 years 

Minimum income 

5 lakhs 

Stability- Residence 

2 years at current residence. (Not applicable: if residence is 
owned) 

Stability– Job 

2 years 

Other conditions 

CPV as per normal policy 
Salaried employees residing in rented/ company provided 
accommodation need to get CPV conducted at permanent 
address. 
Banking for the last 3 months will be required with no negative 
traits. 
All other credit/documentation as per Normal policy is 
applicable. 
BH series vehicles will not be allowed under this scheme 

Credit Promo 

ALEV8YRS 

Triggers 

Any delinquent RC pending crossing 90+ 
Gross non-starter cross 5% in any month (1st Cheque 
bounce)