Rates & Charges
Aside from the interest rate on a personal loan, there are a few other costs to consider, which are separated into three categories:- General fees, Miscellaneous fees, and Foreclosure fees.
Processing Fee – Up to 1.7% of the loan amount + GST
A processing fee is a one-time cost paid by lenders when a personal loan application is processed. Even if the loan is not approved, it is non-refundable.
Penal Interest/Additional Interest – 2% on Overdue amount per month + GST
Penal interest is the rate of interest that will be charged on late monthly instalments. The borrower will now be obliged to pay the additional interest as well as the delayed instalment.
Bounce Charges – Rs. 450 for every cheque/Payment Instrument Dishonour + GST
Mandate Rejection Service Charge – ₹ 400 + GST
Instrument Swap Charges – Rs. 450 + GST
CCOD Annual Maintenance Charges – 0.30% on Dropline Amount + GST or ₹ 750, whichever is higher per year will be deducted from the limit and shall be payable at the end of the 15th month.
Loan Cancellation Charges – 1.75% of loan amount or Rs. 5,350, whichever is higher + GST
Outstation Collection Charges – Rs. 150 + GST per repayment tenure
Statement of Accounts – Soft Copy – Nil.
Duplicate NOC – Rs. 500 + GST
Duplicate Repayment Schedule – Soft Copy–Nil
Post-Dated Cheque Charges – Rs. 650 + GST
Foreclosure Charges
No Pre-closure Charges
There are no pre-closure charges and the loan can be closed the moment your purpose is served
Foreclosure Letter Charges
Soft Copy – Nil