Personal Loan

Processing Fee:

Up to 4% of loan amount + applicable taxes

EMI Dishonour/Bounce Charge*
*A bounce charge is a charge for
(i) dishonour of any repayment instrument; or
(ii) non-payment of instalment(s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate

As shown in the table below

Penal Charge/Late Payment Charge (LPC)

Up to 2% per month (p.m.) on overdue EMI + applicable taxes

Part pre-payment charges

Up to 5% of prepaid amount + applicable taxes

Foreclosure Charges

Up to 5% of principal outstanding + applicable taxes

Annual Maintenance Charges

Nil

Document retrieval / Duplicate NOC charges

Duplicate NOC: Up to Rs. 500/- + applicable taxes
(Charge is applicable post 3 free copies)

Repayment instrument swap charge (per swap)

Up to Rs.500/- + applicable taxes (applicable only for branch walk-ins)

Charges for documents like Statement of Account/Repayment Schedule /Foreclosure Letter & Welcome Kit

Nil

Cooling-off/ look-up period during which Borrower shall not be charged any penalty on prepayment of loan

3 Days from the date of disbursement

Loan cancellation fee post cooling off period of 3 days

Up to 5% of principal outstanding loan amount + applicable taxes

Field collection service charge

Up to Rs. 500/- per collection + applicable taxes

Legal fees and charges:

As per actuals or up to Rs. 30,000/- whichever is lower + applicable taxes

Recovery charges:

As per actuals or up to Rs. 15,000/- whichever is lower + applicable taxes