Personal Loan for Wedding

Processing Fee:

Up to 3% 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):

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 pre-payment charges:

5% of prepaid amount + applicable taxes

Foreclosure Charges:

5% of principal outstanding + applicable taxes( As per the latest NBFC Master Circulars )

Annual Maintenance Charges:

Nil

Statement or document retrieval charges:

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

Repayment instrument swap charge (per swap):

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