EV Bike Loan

Processing Fees:

Regular and Royal Enfield- Up to 2% of the loan amount or Rs. 5,000/- whichever is lower + applicable taxes
Superbikes- Up to 1.5% of the loan amount or Rs. 6,000/- whichever is lower + applicable taxes
Trade Advance – Up to 2% of the Sanction amount + applicable taxes

Documentation and repayment setup fee

Up to Rs. 1,750/- + applicable taxes

Facilitation Fee

Up to 2% of loan amount + applicable taxes

Penal Charge/Late Payment Charge (LPC)

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

Foreclosure Charges

Up to 5% of principal outstanding + applicable taxes

Repayment instrument swap charge (per swap)

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

Document retrieval / Duplicate NOC charges

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

Loan Cancellation fee

Up to Rs. 2000/- + 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

Auction fees

Up to 1% of auction sale amount + applicable taxes

RC non submission charge

Up to Rs. 1,000/- per month post 120 days + applicable taxes

Field collection service charge

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