For Loans with tenure up to 36 months
| 1 Yr MCLR |
Spread over MCLR |
Effective ROI |
Reset |
| 8.90% |
1.60% |
10.50% onwards |
No Reset |
For Loans with tenure over 36 months
| Effective ROI |
| 10.50% onwards |
ROI would vary basis vehicle model.
| Type
|
Charges |
| ROI Min |
10.50% onwards |
| Processing Fee |
For Vehicle cost up to Rs. 4 lakhs- Rs. 5,000
For Vehicle cost up to Rs. 4 to 10
lakhs- Rs. 6,000
For vehicle cost above Rs. 10 lacs- 0.50% of the loan amount
|
| Documentation Charges |
Rs 750/-
|
| Cheque Bounce/ EMI Return Charges |
Rs 339/- Per Instance |
| Cheque / Instrument Swap Charges |
Rs 500/- Per Instance |
| Duplicate Statement Issuance Charges |
Rs 250/- Per Instance |
| Duplicate Repayment Schedule Issuance Charges |
Rs 250/- Per Instance |
| Duplicate No Dues Certificate / NOC
|
Rs 50/- Per Instance |
| Penal Charges |
^Financial Default: 8% p.a. above applicable interest rate on the overdue amount
(subject to the aggregate not exceeding 24% per instance) |
| Part-payment charges |
5% of part payment amount |
| Fore Closure Charges |
5% of Principal Outstanding |
| Stamp Duty |
At Actuals |
| Issuance of Credit Report |
50/- Per Instance |
| PDD Collection Charges |
Rs.200/- |
| Legal, Repossession or incidental charges |
At Actuals |
| #Loan Cancellation / Re-booking charges |
Rs. 550/- per case
|
| Issuance charge for photocopy of Loan Agreement / Documents |
Rs 250/- Per instance
|
* All of the above charges are subject to change as per Bank's discretion from time to
time
* Goods and Service tax as applicable will be levied
* Part payment will be allowed twice in a loan calendar year and once in loan calendar
month
* The minimum amount accepted for part payment will be equal to one EMI & maximum
amount will be 25% of balance principal in one year
*There shall be no capitalisation of Penal Charges.
*^Financial Default includes all types of payment or financial defaults/irregularities
with respect to your Loan Account.
#Cooling-off period of 3 working days for both digital and physical loans
Following to be levied on loan cancelled in cooling-off period:
- Proportionate interest till date of cancellation
- Full processing fee
- Stamp duty, other statutory charges and GST would not be waived/refunded
