Penal charges

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


Stock Gap (SOT) Charges

Upto 14% + GST (on SOT amount) once SOT is identified for dealers.


Penal charge on overdue amount in Overdraft /CC / Inventory Funding limits

Penal charges upto 18% + GST on overdue/ delays / defaults of any amount payable for inventory limits.


Delayed/Non-Submission of stock statement

Delayed/Non submission of stock statements for DP calculation of CC limits shall attract penal charges of 2% + GST on the utilized limits.


Penal charge on overdue amount in Overdraft / Cash Credit facility

Irregularities in serving monthly interest in cash credit accounts: On entire outstanding if continuously irregular for a period beyond 60 days, in other cases on the irregular portion @2% + GST.


CC Stock audit penal charges

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


Delayed instalment payment charge

(For Term Loan)

1.5% p.m. + GST on overdue instalment amount.