Penal charges

Penal charges

Auto & Two Wheeler Funding


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

Stock Gap (SOT) Charges

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

2

Penal charge on overdue amount in Inventory Funding limits

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

3

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.

4

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.

5

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.

6Delayed instalment payment charge
(For Term Loan)
1.5% p.m. + GST on overdue instalment amount.

Tractor & CV CE INF Funding


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

Stock Gap (SOT) Charges

Tractor & CV CE INF Funding: SOT upto 10% to 20% -Rs.10000/-+GST for Tractor INF and Rs.25000/-+GST for CV CE INF dealers per instance. SOT above 20% Rs.25000/- +GSTfor Tractor INF and Rs.50000/-+GST for CV CE INF dealers per instance

2

Penal charge on overdue amount in Inventory Funding limits

Tractor & CV CE INF Funding: Penal charges 4% p.a + GST on overdue/ delays / defaults of any amount payable for Tractor and CV CE INF and TA dealers.


3

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.

4

Penal charge on overdue amount in Overdraft / Cash Credit facility

Tractor & CV CE INF Funding: Penal charges 4% p.a + GST on overdue/ delays / defaults of any amount payable for Tractor and CV CE INF and TA dealers.


5

CC Stock audit penal charges

Tractor & CV CE INF Funding: Delayed/Non submission of stock statements consecutevily for the 2 months for DP calculation of CC limits shall attract penal charges of Rs.5000/+ GST per instances on the utilized limits.




6

Delayed instalment payment charge
(For Term Loan)

Tractor & CV CE INF Funding:

NIL