FEATURES
FEES & CHARGES
Description of charges | Commercial/Construction Equipment Finance |
|---|---|
Cheque bouncing charges | Rs. 550 |
Premature Closure charges* | 4% of Principal Outstanding for preclosures within 1 year from 1st EMI As per BCSBI guidelines, for borrowers classified as Micro and Small Enterprises(MSE) NIL Premature Closure Charges will be applicable for all floating rate loans and for Fixed rate loan facility up to Rs. 50 Lakh, closure to be from Own funds. For MSE customers, 2% takeover charges will be applicable in case of takeover of the loan by another Bank / Financier. Bank reserves the right to enquire or ask the documentary proof of source of funds for closure request of loans. |
Stamp Duty | At actual |
Delayed instalment payment charge | 1.50% per month (18% p.a.) plus applicable government taxes on overdue instalment amount |
Processing fees | New Loans: upto 1% of the Loan Amount |
Asset verification charges | At Actual |
Loan Cancellation charges | NIL Charges, Only Interest to be taken from date of disbursement to date of cancellation. |
Legal/Collection/Repossession and Incidental charges | At Actual |
Service/Documentation charges | upto 1.5% of the Loan amount |
Issuance of Duplicate NOC and Special NOC Charges | Rs 500/- wil be charged for Physical copy |
Cheque Swap Charges | Rs.500/- |
Repayment Schedule Charges | Rs. 200/- |
Rebooking Charges | 1000/- |
Bank IRR & Annual Percent Rate(APR) offered for loans extended to individual customers - Quarter ended July to Sep 2023
Product | Bank IRR | APR | ||||
Min | Max | Avg | Min | Max | Avg | |
COMMERCIAL EQUIPMENT LOAN | 8.50% | 16% | 9.90% | 8.50% | 16% | 9.90% |
Property Document Retention Charges @ Rs 1,000 + Taxes per calendar month, after 2 calendar months from the date of closure of all loans/facilities linked to the collateral.
Any payment above Rs. 49000/- should be made vide Account payee Cheque / Pay order /Demand draft.
* NIL foreclosure charges / pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect. Service Tax is also applicable over and above the regular charges.
Where borrower is Micro and Small Enterprises, no prepayment penalty on prepayment of floating rateloans will be charged irrespective of the reference rate used for floating rate loan and irrespective of source of funds (own source of funds or balance transfer from another Bank)
Above charges are exclusive of Government Charges/Taxes and Charges/Taxes will be charged extra
Where can I get a Commercial/Construction Equipment Loan?
Here is the List of PhoneBanking Location or Write to Sarvesh Dixit on sarvesh.dixit@hdfcbank.com or Call on 022 33958076