Car Loan Interest Rates

Description of charges

New Car Loans

Documentation charges*

₹650 (charges NOT to be refunded in case of case cancellation.)

Premature closure charges (for full payment)*

• For pre-closures within one year, the charges will be 6% of the outstanding principal.

• For pre-closures within 13-24 months from the first EMI, the charges will be 5% of the outstanding principal.

• For pre-closures post 24 months from the first EMI, the charges will be 3% of the outstanding principal.

If you own a micro or small enterprise and have availed a fixed rate loan facility up to ₹50 lakhs, you will not be charged any premature closure fees if you make a full payment from your own source. 

Premature closure charges (for part payment)*

During the loan tenure, part payment will be allowed twice only.
In a year, only one part payment is allowed.
You can make a part payment at any time, but it cannot exceed 25% of the outstanding principal amount.

If the part prepayment is within 24 months from the first EMI, a charge of 5% will be levied on the part payment amount. If the part prepayment is post 24 months from the first EMI, a charge of 3% will be levied on the part payment amount.

If you own a micro or small enterprise and have availed a fixed rate loan facility up to ₹50 lakhs, you will not be charged any premature closure charges if you make a part payment from your own source. 

Stamp duty (non-refundable)

At actuals

Delayed instalment payment charge

18% p.a. (1.5% per month), plus applicable government taxes on overdue instalment amount.

Processing fees* (non-refundable)

0.5% of the loan amount subject to a minimum of ₹3,500 and a maximum of ₹8,000. 

For loan facilities up to ₹5 lakhs availed by micro and small enterprises subject to URC submission before disbursal, no processing fees will be charged. 

Repayment Mode change charge

₹500 per instance

Loan cancellation

If you cancel your loan, you will be responsible for paying the Auto Loan interest rate charges from the date the loan was disbursed until the date of cancellation. Processing fees, stamp duty and documentation charges are non-refundable and will not be waived or refunded in the event of loan cancellation.

Legal, repossession and incidental charges

At actuals

Duplicate no due certificate / NOC

₹250 per instance

Loan reschedulement charges / rebooking charges

₹400 (To make changes on RC, you will need to pay a refundable security deposit of ₹5,000. This deposit is non-interest bearing and will be repaid once you provide the transferred Registration Certificate to the bank.)

LPG / CNG NOC / other special NOC

₹200 per instance

CIBIL charges (only on request)

₹50

Payment return charges*

₹450 per instance

Amortisation schedule charges

Customers can download the schedule from e-Delight free of cost. ₹50 per schedule would be charged at the customer service desk.

Commercial / personal use NOC (conversion subject to credit approval)

₹250 per NOC

Registration Certificate (RC) Collection Fees

₹500 (To be refunded in case of case cancellation.)

Rack interest rate

8.80% onwards depending on loan amount, tenure & CIBIL score

RTO transfer charges

At actuals