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Home > Loans > Retail Loan Fees and Charges

Retail Loan Fees and Charges

Schedule of Fees and Charges for Vehicle and other Retail Loans

Sr. No. Nature of Charges Vehicle and other Retail Loans
1 SOA Charges/ Duplicate statement issuance charges Rs.250
2 Pre-Closure Charges / Pre closure working (per statement)
  1. No Foreclosure allowed within 6 months from the loan agreement date.
  2. 6 % of Principal O/s. for pre closure within 24 months after 6th month from the loan agreement date.
  3. 3% of Principal O/s. for pre closure post 24 months from the loan agreement date
3 Documentation Charges As per Scheme / Sanction letter
4 Processing Fee As per scheme / Sanction letter
5 Service Charge As per scheme / Sanction letter
6 Legal, Repossession & Incidental charges
  1. Legal charges – Rs. 25,000 or actual whichever is higher
  2. Repossession charges – Rs.10,000 or actual whichever is higher
  3. Notice charges – Rs.125
7 Stamp Duty At actual as per applicable state law
8 Roll over PDC Charges Rs.500
9 Non PDC Charges (Cash payment mode- one time) Rs.1500
10 Charges for swapping PDCs of one bank to another / Swapping charges (From ECS/PDC) Rs.1000
11 Payment Collection Charges (FVC) Rs.200 Per Transaction
12 Commercial/Personal Use NOC (Conversion subject to Credit Approval) 2% of principal outstanding
13 Duplicate statement for principal & interest breakup in addition to repayment schedule Rs.100/- per statement
14 Issue of duplicate security deposit receipt Rs.250/- per receipt
15 Cheque/ACH/NACH/ECS/Direct Debit Bounce Charges Rs.500 per returned instrument per instance
16 Duplicate NOC Charges Rs. 500 per instance
17 LPG/CNG NOC, Any other Special NOC Rs 500 per instance
18 Penal Charges (Late payment penalty) 3% per month on the amount overdue
19 Assignment charges (from Both the parties) 2% on an outstanding loan
  • Fees and Charges are exclusive of GST and other applicable Taxes, which shall be additionally chargeable as applicable.