| 1 |
Foreclosure charges for Take over cases |
Up to 4% of loan Principal outstanding for Term loan and 4% of the sanctioned amount for Working Capital Facility (plus taxes). Micro & Small Enterprises as defined under MSMED Act 2006 are exempted irrespective of the limits/out standings. |
| 2 |
Charges for Overdue / delay / default of any monies payable |
Up to 4% over the contracted rate of the transaction |
| 3 |
Penal charges on customer exposures, overdue for renewal of credit facilities |
Up to 4% over the contracted rate of the transaction |
| 4 |
Higher levy of charges in case account conduct deteriorates |
Up to 4% over the contracted rate of the transaction |
| 5 |
Breach of facility covenants (if any) |
Up to 4% over the contracted rate of the transaction |
| 6 |
EMI bounce charges for term loans |
Rs 450 (plus taxes) Per EMI bounce |
| 7 |
Penal charges for customers not submitting the Letter Acknowledging their Debt (LAD) |
Up to Rs. 5000 per week from the due date |
| 8 |
Non-Submission of property/stock/Plant & Machinery insurance |
Up to Rs. 5000 per week from the due date |
| 9 |
Non-Submission of stock statement |
Up to Rs. 5000 per week from the due date |
| 10 |
Maintaining Current Account with Other Bank while facility is granted under Sole Banking (Applicable where specific permission is not taken by the customer). Notice to be sent for immediate closure |
Up to Rs. 5000 per week from the date identified, till the closure |
| 11 |
Not complying with documentation for the credit facility. |
Other than security document, Up to Rs. 5000 per week from the due date |
| 12 |
Delay in submission of trade related documents i.e., IDPMS & EDPMS |
Up to Rs. 5000 per week from the due date |