FEATURES
DOCUMENTATION
Fees and Charges
| Type of Charge | Applicable Charges |
| Processing Fee / Commission | Upto 2% of Facility Amount |
| Renewal Fee | Upto 1% of Facility Amount |
| Stamp Duty/Statutory charges | At Actual |
| Legal/Valuation/Title Search Report/ROC Search/etc | At Actual |
| Charge creation with ROC | At Actual charged by empaneled vendor |
| Premature Closure of credit facilities | Non MSE’s (Micro & Small Enterprises): 4% of the total credit facility amount. MSE’s (Micro & Small Enterprises): If customer is prepaying the loan to reduce business liabilities from own sources: No charge In case of Takeover of loan by other bank: 2% takeover charge. |
| Late Payment Penalty | NA |
| Drawings beyond DP/Limit | As per Bank’s norms, not exceeding 18.00% p.a. |
| Security / Collateral related Creation of Security - 1. Pledge (of Securities) formalities not completed. 2. First/Second charge not created 3. Personal guarantees not furnished | 0.075% per month, On released amount , In case security not created within 45 days or higher period as allowed by the bank. |
Non submission of valid Insurance, Stock and Book Debts statement | Stock/Book Debt Statement : 0.05% per month on last DP available Property/stock/Plant & Machinery insurance : 0.083% on limit/uninsured value per fortnight |
Unsatisfactory cumulative inflow in our OD account on quarterly basis. | Rs 50,000/- per month to be debited on 24th of next month |
| Non-Compliance of General /Takeover Conditions | As security documents must be complete in all respect, pendency shall be penalized • 45 Days of Expiry – to the extent of Utilization limit will be dropped. • 60 days of Expiry – Limit will be zeroed and penal interest as per prevailing Bank norms shall apply not exceeding 18% will be charged. |
| Commitment Fees Minimum 40% utilization on Quarterly basis. | 0.50% p.a. |
| Property Document Retention Charges | Rs 1,000/- per calendar month, after 3 calendar months from the date of closure of all loans/facilities linked to the collateral |
| Renewal documents are required to be submitted 60 days prior to the expiry date. Non-Submission of renewal docs as specified in terms and condition matrix | 0.15% per month for the period of delay in renewal. No penalty in case, customer has submitted request letter and standard documents required for renewal. |
| Not complying with documentation for credit facilities | 0.15% per month on the average utilization |
| Solvency Certificate | Upto 1% of the solvency certification value |
| CERSAI Charges | At Actual |
| Property Swapping/Partial Release | 0.10% of Principle outstanding subject to Minimum Rs.10,000/- |
All charges are exclusive of GST