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Business Loan & Machinery Finance Fees and Charges

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Charges

Items	Charges	Remarks
Processing fees / Admin Fee / Facilitation Fees/ Documentation Fee*	Upto 3.5% of loan amount	Applicable for Term Loan
Cancellation charges*	0.25% of sanctioned loan amount or Rs.10,000/- whichever is higher, + interest from date of disbursal till receipt of cancellation request. Please note: Cancellation request to be received within 30 days or 1st EMI presentation date, post which cancellation will be treated as foreclosure.	Applicable for Term Loan & Dropline Overdraft
Stamp Duty	As per actuals	Applicable for Term Loan & Dropline Overdraft
Part Payment charges*	• Allowed up to 25% of principal outstanding, only once in a financial year and twice during the entire loan tenure • Part payment charges: 4% of part payment amount for non MSMEs • NIL Part-Payment charges for loan facility up to Rs 50 lakhs availed by Micro and Small enterprises, paid from own source of funds and updated Udayam Certificate to be presented at the time of part payment	Applicable for Term Loan
Foreclosure Charges*	A. Foreclosure charges to be NIL for Micro & Small enterprises whose loan amount is <= Rs. 50 lakh and 5% of Loan amount > Rs.50 lakh B. For Medium enterprise and non-MSME customers, foreclosure charge to be 5% irrespective of Loan amount	Applicable for Term Loan

Charges on account of delayed payments / defaults

Items	Charges	Remarks
Penal Charge for Delay of Payment	12% p.a. (1% p.m.) of the unpaid EMI or Rs. 300 whichever is higher. No GST Applicable.	Applicable for Term Loan
EMI Pickup/Collection Charges*	₹500	Applicable for Term Loan & Dropline Overdraft
EMI bounce charges*	12% of EMI bounced with minimum charge of ₹400 &maximum of ₹1000	Applicable for Term Loan
Collection Legal charges*	At actuals plus applicable taxes	Applicable for Term Loan & Dropline Overdraft
Technical Bounce Charges*#	Charge rates would be same as applicable under EMI bounce charges	Applicable for Term Loan

Other Charges on Dropline Overdraft facility

1. Processing fees / Admin Fee / Facilitation Fees/ Documentation Fee* - Upto 4.5% of loan amount

2. Annual Renewal Charge* - 0.50% of the effective limit at the time of renewal

3. Under-Utilisation Charges* - If average quarterly utilisation is <25% of drawing power, then quarterly 0.25% will be charged on the difference between actual average utilisation and expected average utilisation (i.e. 25%), subject to a minimum of Rs.2500

4. Penal Charges on overdrawn accounts – 12% p.a. (1% p.m.) on the overdrawn amount. No GST applicable for Penal charges.

5. Foreclosure charges*

A. Foreclosure charges to be NIL for Micro & Small certified enterprises whose loan amount is <= Rs. 50 Lakhs. For loan amount > 50 Lakhs, foreclosure charges would be applicable.

B. For Medium enterprise and non-MSME customers, foreclosure charge to be 5% of the effective limit/ drawing Power

*GST is applicable on these charges
#Mandate Rejection technical Bounce Charges (for mandate rejected by your bank, to be charged for each month from 3rd consecutive bounce month onwards until the mandate is registered)

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Business Loan & Machinery Finance Fees and Charges

Charges

Charges on account of delayed payments / defaults

Other Charges on Dropline Overdraft facility

Get in touch with us