Personal Loan for Home Renovation

Loan Processing Fees (non-refundable):

Upto 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

Late Payment Charges (LPC)/ Penal Charges:

2% per month (p.m.) on overdue EMI *
*LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4thDec 2023
*Taxes applicable on LPC w.e.f. 1st April 2024

Part Payment Charges:

Up to 5% of pre-paid amount + applicable taxes

Foreclosure Charges:

5% of POS (Principal Outstanding) + applicable taxes

Legal/ Recovery Charges:

As per actuals

Duplicate NOC Charges:

First 3 paper copies - free of cost
From 4th Paper copy - ₹ 250 + applicable taxes

Repayment instrument swap charge (per swap):

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

Loan Cancellation Charge:

Nil - for 3 days from date of disbursal
From 4th day - 5%+ applicable taxes (on the outstanding loan amount)

Document Charges:

Nil for Statement of Account (SOA), Repayment Schedule, Foreclosure Letter, Welcome Kit

Annual Maintenance Charges (AMC):

Nil