Two Wheeler Loans Revised Charges

Two Wheeler Loans Revised Charges

Dear Customer,


Sub: Revision in charges & fees structure of your Two-Wheeler Loan

We have an important update for you regarding your Two-Wheeler Loan. There is a revision in the Fees & Charge with effect from 15th March 23 :

Pre-payment charges have been renamed to Premature closure charges.

Current Charge

Revised Charges w.e.f 15th March 23 ​​​​​​​

Pre-payment up to 3 Months- Not Allowed

Pre-Payment within 4 to 12 months from 1st EMI – 6% of principal outstanding

Pre-mature Closure Charges

(on principal outstanding) - Up To 12 months - 6% of principal outstanding

  • Overdue EMI Interest charge: 2.5% per month (30% p.a. on EMI Overdue) has been withdrawn with immediate effect.

  • Delayed instalment payment charge of 18% p.a. would be charged on overdue instalment amount for your two wheeler loan + applicable GST / government taxes.

All other fees and charges remain unchanged. You may refer to the below links for details:

We Assure you the best service of our service always

Warm Regards