| Description of charges | Commercial/Construction Equipment Finance |
|---|---|
| EMI Return Charges* | Rs. 550/- per instance |
| Part Prepayment charges / Premature closure charges* | 4 % of POS (Principal Outstanding) for pre-closures within 1 year from 1st EMI 2% of POS (Principal Outstanding) for pre-closures after 1 year from 1st EMI For borrowers classified as Micro and Small Enterprises (MSE): 1. Prepayment of fixed rate loans upto Rs. 50 lacs is permitted without levying any prepayment penalty. 2. Prepayment of Floating Rate Loans / Takeover Loans is permitted without levying any prepayment penalty. |
| Stamp Duty | At actual |
| Delayed instalment payment charge | 1.5% per month (18% p.a) on overdue istalment amount |
| Processing fees (Non-Refundable)* | New/Used Loans: up to 1.50% of the Loan Amount NIL Processing Fees for loan facilities upto Rs. 5 lakhs at customer level, availed by Micro and Small Enterprises, subject to URC submission before disbursal. |
| Asset verification charges | At Actual |
| Loan Cancellation charges | In the event of cancellation of loan, interest charges from disbursement date till refund of disbursement amount will be borne by the customer. Processing Fee, Stamp Duty are nonrefundable charges and would not be waived/refunded in case of loan cancellation. |
| Legal/Collection/Repossession and Incidental charges | At Actual |
| Service/Documentation charges | upto 1.5% of the Loan amount |
| Issuance of Duplicate NOC and Special NOC Charges | Rs 500/- wil be charged for Physical copy |
| Cheque Swap Charges | Rs.500/- per transaction |
| Repayment Schedule Charges | Rs. 200/- per schedule |
| Rebooking Charges | 1000/- |
| Registration Certificate (RC) / Collateral Documentation Collection Charges* | Rs. 500/- (per case) |
| Pre-Installment Interest | Interest from Disbursement Date to First Installment Interest Start Date (Deducted Upfront from Disbursement Amount on Disbursement Date) |
| Solvency Certificate | Up to 1% of the solvency certification value |
| CERSAI Charges | At actuals |
| CIBIL Report Charges (on request) | Rs. 50/- per request |
| Valuation charges* | Rs. 900/- per asset |
FEES & CHARGES
Average Rates offered to customer during the period of July'24 to Sep'24
| Bank IRR | ||
|---|---|---|
| Min IRR | Max IRR | Avg IRR |
| 8.52% | 16.01% | 10.02% |
Average Annual Percentage Rate offered to customer during the period of July'24 to Sep'24
| APR | ||
|---|---|---|
| Min APR | Max APR | Avg APR |
| 8.52% | 16.01% | 10.02% |
* Exclusive of GST
Property Document Retention Charges @ Rs 1,000 + Taxes per calendar month, after 2 calendar months from the date of closure of all loans/facilities linked to the collateral.
Any payment above Rs. 49000/- should be made vide Account payee Cheque / Pay order /Demand draft.
Note: * Wherever notified GST and other government levies, as applicable, would be charged additionally at the applicable rates.
Where can I get a Commercial/Construction Equipment Loan?
Here is the List of PhoneBanking Location or Write to Praveen Nair on Praveen.nair2@hdfc.bank.in or Call on 022 33958076