Description of charges
Commercial Vehicles Finance
EMI Return charges*
Rs. 550/- per instance
Premature Closure charges*
4 % of POS (Principle Outstanding) for preclosures with 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.
Cheque/ECS Swap Charges
Rs. 500/- per transaction
Duplicate Amortisation Schedule Charges
Rs. 200/- per schedule
Loan Re-schedulement/Rebooking Charges
Duplicate/Special NOC Charges
Rs. 500/- per instance
CIBIL Report Charges(on request)
Rs. 50/- per request
Delayed instalment payment charge
1.50% per month (18% p.a.) plus applicable government taxes on overdue instalment amount
Processing fees (Non-Refundable)*
New/Used Loans: up to 1.50% of the Loan Amount
Up to 1.50% of the Loan Amount
Rs. 900/- per asset
Asset verification charges
Legal/Collection/Repossession and Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer.
In the event of cancellation of loan, interest charges from disbursement date till refund of disbursement amount will be borne by the customer. Processing Fee, Stamp Duty are non-refundable charges and would not be waived/refunded in case of loan cancellation.
Average Rates offered to customer during the period of July to Sep 2023
Average Annual Percentage Rate offered to customer during the period of July to Sep 2023
*Where ever notified Service Tax and other government levies, as applicable, would be charged additionally at the applicable rates
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