| Description of charges | Commercial Vehicles 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. |
| Cheque/ECS Swap Charges | Rs. 500/- per transaction |
| Duplicate Amortisation Schedule Charges | Rs. 200/- per schedule |
| Loan Re-schedulement/Rebooking Charges | Rs. 1000/- |
| Duplicate/Special NOC Charges | Rs. 500/- per instance |
| CIBIL Report Charges(on request) | Rs. 50/- per request |
| Stamp Duty | At actuals |
| Delayed instalment payment charge | 1.50% per month (18% p.a.) plus applicable government taxes on overdue instalment 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. |
| Service Charges* | Up to 1.50% of the Loan Amount |
| Valuation charges* | Rs. 900/- per asset |
| Asset verification charges | At Actuals |
| Legal/Collection/Repossession and Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer. | At Actuals |
| Loan Cancellation | 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 non-refundable charges and would not be waived/refunded in case of loan cancellation. |
| 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 |
FEES & CHARGES
Average Rates offered to customer during the period of July'24 to Sep'24
| Bank IRR | ||
|---|---|---|
| Min IRR | Max IRR | Avg IRR |
| 8.74% | 16.18% | 10.14% |
Average Annual Percentage Rate offered to customer during the period of July'24 to Sep'24
| APR | ||
|---|---|---|
| Min APR | Max APR | Avg APR |
| 8.74% | 16.19% | 10.14% |
* Exclusive of GST
Note: * Wherever notified GST and other government levies, as applicable, would be charged additionally at the applicable rates.
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