Commercial Vehicle Finance Fees & Charges

EMI Return charges*

Rs. 550/- per instance

Part Prepayment charges / Premature closure charges*

4 % of POS (Principal Outstanding) for pre-closures within 1 year from 1st EMI

2% of POS (Principal Outstanding) for pre-closures after 1 year from 1st EMI

For borrowers classified as Micro and Small Enterprises (MSE):

1. Prepayment of fixed rate loans upto Rs. 50 lacs is permitted without levying any prepayment penalty.

2. Prepayment of Floating Rate Loans / Takeover Loans is permitted without levying any prepayment penalty.

Cheque/ECS Swap Charges

Rs. 500/- per transaction

Duplicate Amortisation Schedule Charges

Rs. 200/- per schedule

Loan Re-schedulement/Rebooking Charges

Rs. 1000/-

Duplicate/Special NOC Charges

Rs. 500/- per instance

CIBIL Report Charges(on request)

Rs. 50/- per request

Stamp Duty

At actuals

Delayed instalment payment charge

1.50% per month (18% p.a.) plus applicable government taxes on overdue instalment amount

Processing fees (Non-Refundable)*

New/Used Loans: up to 1.50% of the Loan Amount

NIL Processing Fees for loan facilities upto Rs. 5 lakhs at customer level, availed by Micro and Small Enterprises, subject to URC submission before disbursal.

Service Charges*

Up to 1.50% of the Loan Amount

Valuation charges*

Rs. 900/- per asset

Asset verification charges

At Actuals

Legal/Collection/Repossession and Incidental chargesIncidental charges are those expenses that are not budgeted or specified but are incurred by the bank on behalf of the customer.

At Actuals

Loan Cancellation

In the event of cancellation of loan, interest charges from disbursement date till refund of disbursement amount will be borne by the customer. Processing Fee, Stamp Duty are non-refundable charges and would not be waived/refunded in case of loan cancellation.