Type of fee
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Applicable charges
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Rate of interest
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9.50% p.a.
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Processing fee
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Up to 2.95% of the loan amount (inclusive of applicable taxes).
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Documentation charges
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Up to Rs. 2,360/- (inclusive of applicable taxes).
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Flexi fee
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Term Loan – not applicable
Flexi Term Loan (Flexi Dropline) - up to Rs. 999/- (inclusive of applicable taxes)
Flexi Hybrid Loan (as applicable below)
- Up to Rs. 1,999/- (inclusive of applicable taxes) for loan amount less than Rs. 2,00,000/-
- Up to Rs. 3,999/- (inclusive of applicable taxes) for loan amount from Rs. 2,00,000/- to Rs. 3,99,999/-
- Up to Rs. 5,999/- (inclusive of applicable taxes) for the loan amount from Rs. 4,00,000/- to Rs. 5,99,999/-
- Up to Rs. 6,999/- (inclusive of applicable taxes) for the loan amount from Rs. 6,00,000/- to Rs. 9,99,999/-
- Up to Rs. 7,999/- (inclusive of applicable taxes) for the loan amount of Rs. 10,00,000/- and above
The charges above will be deducted upfront from the loan amount
*Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.
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Prepayment charges
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Full prepayment (foreclosure)
- Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount payable by the borrower as on the date of full prepayment.
- Flexi Term Loan (Flexi Dropline): up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of such full prepayment.
- Flexi Hybrid Loan: up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule, during initial and subsequent tenure, on the date of such full prepayment.
Part-prepayment
- Term Loan: Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part pre-payment.
- Not applicable for Flexi variants
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Annual maintenance charges
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Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline):
- Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges.
Flexi Hybrid Loan:
- Up to 0.59% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure.
- Up to 0.295% (inclusive of applicable taxes) of total withdrawable Amount during subsequent tenure.
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Bounce charges
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In case of default of repayment instrument, Rs. 1,500 per bounce will be levied.
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Penal charges
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Delay in payment of instalment(s) shall attract penal charge up to Rs. 25 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
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Stamp duty (as per respective state)
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Payable as per state laws and deducted upfront from the loan amount.
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Legal and incidental charges
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Actual legal and incidental charges under applicable laws
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Repossession charges
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Repossession charges at actual with a maximum capping of Rs. 50,000/- (inclusive of applicable taxes)
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Auction charges
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At actuals
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Valuation charges
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At actuals
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Stockyard charges
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Rs. 118/- per day for 60 days (inclusive of applicable taxes)
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Mandate registration charges |
In the case of UPI mandate registration Re. 1 (inclusive of applicable taxes) will be collected from the customer. |
Instalment default charges
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Rs. 450 per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered.
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Loan re-booking charges
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Rs. 1,000/- (inclusive of applicable taxes).
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Loan cancellation charges
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Rs. 2,360/- (inclusive of applicable taxes) (interest till cancellation to be borne by the customer).
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NOC for interstate transfer
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Rs. 1,180/- (inclusive of applicable taxes).
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NOC to convert from private to commercial
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Rs. 3,540/- (inclusive of applicable taxes).
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Duplicate NOC
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Rs. 500/- (inclusive of applicable taxes).
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Broken period interest/ pre-EMI interest
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Broken period interest/ pre-EMI interest shall mean the amount of interest on the loan for the number of day(s), which is(are) charged in two scenarios:
Scenario 1 – beyond 30 days from the loan disbursal date until charging the first EMI:
In this scenario, we recover broken period interest through the following methods:
- For Term Loan: Added to the first instalment amount
- For Flexi Term Loan: Added to the first instalment amount
- For Flexi Hybrid Loan: Added to the first instalment amount
Scenario 2 – within the initial 30 days from the loan disbursal date until charging the first EMI:
In this scenario, we charge interest based solely on the actual number of days since disbursing the loan.
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PG facility charges
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Rs. 11 (inclusive of applicable taxes) will be charged for utilising the payment gateway to make part or full payments towards the loan through digital properties.
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Cash collection handling charges
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Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.
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Cash deposit charges
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Customers will incur a cash deposition charge of Rs. 50 (inclusive of applicable taxes) when making cash payments at our branch offices.
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