schedule of charges

Applicable for the loan disbursed on/ after 1st April 2023


 Loan Foreclosure Charges 

 3% on principal outstanding amount

 Bounce Charges/ EMI default charges

 In case of defult of repayment instrument Rs 450/-

 Duplicate NOC charges

 Rs 500/-

 Penal Charge

 Delay in payment of Monthly instalment shall attract penal Charge at the rate of 3% per month on the Monthly Instalment outstanding, from the respective due date until the date of receipt

 Mandate Registration charges

 Rs 118/-

 Mandate rejection Charges

 Rs 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered

 Swapping charges

 Up to Rs 590/-

 Documentation and Hypothecation Charges  Up to maximum of 9350/- (inclusive of All Applicable taxes) for two-wheeler
 Up to maximum of 7,200/- (Inclusive of applicable taxes) for three-wheeler & four- wheeler

 Loan cancellation Charges

 Rs 1000/-

 Stock yard Parking changes

 TW -Rs 59/- & 3W Rs 118/ days for 60 days (max)

 Legal, Repossession and incidental charges

 Rs 5000/-

 Processing fees

 Up to maximum of 16% of Loan Amount for two-wheeler loan.
 Up to maximum of 25% of Loan Amount for three-wheeler & four-wheeler

 Stamp Duty (As Per Respective State)

 As Applicable

 SOA Charges


 Broken period interest / Pre EMI Interest

 "Broken Period Interest/Pre EMI Interest" shall mean the amount of interest on Loan for the number of day(s) Which is
Scenario 1: Over and above the period of 30 (thirty) days from the date of disbursement of the Loan Method of recovery of Broken Period Interest/Pre-EMI Interest: Amount to be added in first instalment amount OR Principal loan amount (As per customer’s choice).
Scenario 2 : Less than period of 30 (thirty) days from the date of disbursement of the Loan, Interest on first instalment will be charged for actual number of days"