| 1 |
Foreclosure charges for Take over cases |
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 |
4% over the contracted rate of the transaction |
| 3 |
Penal charges on customer exposures, overdue for renewal of credit facilities |
4% over the contracted rate of the transaction |
| 4 |
Higher levy of charges in case account conduct deteriorates |
4% over the contracted rate of the transaction |
| 5 |
Breach of facility covenants (if any) |
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) |
Rs. 5000 per week from the due date |
| 8 |
Non-Submission of Project MIS as applicable (monthly/ quarterly) |
Rs. 5000 per week from the due date |
| 9 |
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 |
Rs. 5000 per week from the date identified, till the closure |
| 10 |
Not complying with documentation for the credit facility. |
Other than security document, Rs. 5000 per week from the due date |