Penal charges.

Sr. No.

Default/non-compliance of terms and conditions of the Transaction Documents for which penal charges may be levied.

 Penal Charges as applicable

1.

Overdue Penal charges for Inventory Funding

Penal charge @8% p.a. on overdue/ delays / defaults of any amount payable for inventory limits.

2.

Non Submission of stock statement

Delayed/Non submission of stock statements for DP calculation of CC limits shall attract penal charges of 2% p.a. on the utilised Limits.

3.

CC stock audit penal charges

Bank reserves the rights to levy penal charges @2% p.a. on the utilized limits in case of non-submission of data or non-cooperation by dealer in completing CC stock audit process.

4.

Sold Out Trust (SOT) Charges

4% p.a. penal charge to be levied on SOT amount for applicable dealers.

5.

Property Document Retention charges

Property documents need to be collected within 60 (sixty) days from the date of closure of loan/ facilities linked to the collateral. Failing which, custody charges of Rs.1000/- per month per property

6.

Delayed instalment payment charge (For Term Loans)

On overdue EMI billed at contractual rate of the underlying loan for the number of days of delay.

7.

Payment Return Charges

Bank reserves the rights to levy penal charges @ Rs450/- per EMI bounce

8.

Premature Closure Charges
(Part / Full Repayment)

4% on Outstanding amount. 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.

9.

Interest on Temporary overdrafts (TOD)

18% per annum on the amount utilized above the available credit limit

10.

Incremental Interest on Adhoc limits

2% p.a. additional interest on existing ROI on the amount outstanding.