Commodity Power

Commodity Power - Fees & Charges

Axis Bank offers Commodity Power, Commodity Lite and Commodity Quik to provide finance to non-individuals against warehouse receipts or storage receipts. These loans can be taken against approved agri commodities stored in various private, professional or government warehouses. The Commodity Power fees and charges include processing charges for new cases and renewal of existing cases. To learn more about the Commodity Power fees & charges for breach of sanction terms, or in the event of default, please refer to the table below.

Services	Applicable Charges
Processing Charges
Upfront	@0.25% plus GST of Sanction Limit at new sanction / renewal / enhancement
Tranche wise	0.35% plus GST of disbursed amount at every tranche of disbursement
Penal Charges/ Other Charges
Financial Default: 8% p.a. above applicable interest rate on the outstanding amount (subject to the aggregate not exceeding INR 1,00,000/- per instance). Non-Financial Default: 1% p.a. above applicable interest rate / commission from the date of each non-financial default on the outstanding amount of fund-based credit facilities and non-fund-based facilities (as applicable). There shall be no capitalisation of Penal Charges. The said Penal Charges will be subject to GST as per applicable law on Goods and Service Tax in India, and GST will be charged separately. Financial Default includes all types of payment or financial defaults / irregularities with respect to your loan account. **Non-Financial Default includes breach of any other obligation(s) / covenant(s) with respect to your loan account.
Stamp Duty & other statutory document charges	As per applicable laws of state
Auction/Liquidation and incidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer	As per actuals
Prepayment / Foreclosure Charges	1. Prepayment charges (0.50% exclusive of GST) of the amount being prepaid only if prepayment is within one month from the date of disbursement. Otherwise Nil. 2. Prepayment penalty is not applicable in case of loan against electronic Negotiable Warehouse Receipt (eNWR). 3. In case of Micro and Small Enterprises (MSE) customers, no prepayment charges are applicable if; a. Loan amount is up to Rs.50 Lakhs under Fixed rate loans, or b. Loans with floating interest rates (irrespective of the loan limit)
Quality Testing Charges/ Fumigation Charges/ Collateral Management Charges/ Other Charges	These incidental charges if applicable are to be borne by the borrower on case to case basis.

TAT for processing applications:

Axis Bank will convey its decision (within 2 weeks for credit limit upto `5 lakh and within 3 weeks for credit limit above ` 5 lakh and upto ` 25 lakh for Micro & Small enterprises borrowers) and (within 30 working days for other borrowers) from the date of receipt of the application provided the application is complete in all respects and is submitted along with all the documents as per 'checklist' provided in the application for loan and/or any additional documents as may be required by the bank for proper appraisal of the application. The computation of timelines shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank.