Schedule of Charges for various Avanse Products (Effective 1st Aug, 2019)

CHARGES

PL

MEL - BL

SME - BL

MEL – LAP

SME - LAP

Education Loan

EIL

LFI

Social Infra

SFF &
Vocational

Digital Business

Application Fee

Nil

Nil

Nil

Nil

Upto Rs. 10,000/-

Upto Rs. 6,000/-

Rs. 5,000/-

Nil

Rs. 750/-

Upto Rs. 2,000/-

Nil

Loan processing fee

Upto 2%

Upto 3%

Upto 2%

Upto 1.5%

Upto 1%

Upto 2.25%

Upto Rs.1000/-

Upto 2%

Cheque / NACH bounce changes (per bounce)

Rs. 400/-

Rs. 2,500/-

Rs. 1,000/-

Rs. 1,000/-

Rs. 400/-

Rs. 1,000/-

Rs. 1,000/-

Rs. 1,000/-

Rs.400/-

Rs. 400/-

Interest on Late Payment of EMI
(per month on overdue
EMI amount/Interest amount)

 

2% p.m.

 

2% p.m.

 

2% p.m.

 

2% p.m.

 

2% p.m.

PDC / NACH /
Repayment mandate Swap Charges (per swap)

 

Rs. 1000/-

 

Rs. 500/-

 

Rs. 1,000/-

 

Rs.1,000/-

 

Rs. 500/-

 

Rs. 500/-

Collection pickup charges (per visit)

Rs. 500/-

Rs. 500/-

Rs. 750/-

Nil

Nil

Rs. 500/-

Nil

Nil

Rs. 500/-

Rs. 500/-

Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and
Valuation

 

As applicable and on actual basis

Statement of Account
Charges

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Document Retrieval or Handling Charges
(At the time of foreclosure)

 

Rs. 2,000/-

Upto Rs. 5,000/-

 

Nil

Upto Rs. 5,000/-

 

Nil

 

Nil

Copy of Property / Security papers

Nil

Rs. 1,000/-

Rs. 1,000/-

Nil

Nil

Additional Repayment Schedule

Nil

Nil

Nil

Nil

Rs. 500/-

Nil

Nil

Nil

Nil

Nil

Nil

Foreclosure statement charges

Nil

Nil

Nil

Nil

Rs. 500/-

Nil

Nil

Nil

Nil

Nil

Copy of Sanction Letter

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Nil

Loan Conversion, Cancellation and Non Encumberance
Certificate

 

As applicable and on actual basis

Demand Draft/Pay Order issuance charges

Nil

Nil

Nil

Nil

Nil

Nil

Rs. 150/- per lac or actual bank charges, whichever is higher.

Nil

Nil

Collateral Swap Charges

Nil

Rs. 10,000/-

Nil

Nil

Charges for updating & handling loan account as per customer request

 

Nil

 

Rs 1,500/- per updation

 

Nil

 

Nil

CERSAI Fees
(per Collateral)

NIL

Rs. 50/- for loans upto Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs.

Rs. 50/- for loans upto Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs.

Nil

Nil

Information Utility submission (per reporting
per year)

 

Nil

 

Rs.50/-

 

Rs. 400/-

 

Rs.50/-

 

Rs.250/-

 

Rs.50/-

 

Nil

 

 

 

 

 

 

Foreclosure charges

 

 

 

 

 

 

4% of the POS

Nil: For Individual Borrowers

4% of the POS: Other than individual borrowers and foreclosure within 12 months

3% of the POS: Other than Individual borrowers and foreclosure after the expiry of 12 months but before the expiry of 24 months

2% of the POS: Other than Individual borrowers and foreclosure after the expiry of 24 months but before the expiry of 48 months

Nil: Foreclosure after expiry of 48 months

 

 

 

 

Nil

Note: No pre- payment allowed in the first 6 months of loan disbursement

 

Foreclosure not allowed in the first 12 months of loan disbursement.

4% of the POS:
Foreclosure after 12
months till 24 months.

2% of the POS:
Foreclosure after 24
months till 48 months.

Nil:    Foreclosure after expiry of 48 months

 

 

 

 

 

 

Upto 4% of the POS

 

Foreclosure not allowed in the first 12 months of loan disbursement.

4% of the POS:
Foreclosure after 12
months till 24 months.

2% of the POS:
Foreclosure after 24
months till 48 months.

Nil:    Foreclosure after expiry of 48 months

 

 

 

 

Upto 4% of the POS

Nil: For loans to Individual customers on floating rate basis

 

 

 

 

Upto 4% of the POS

Nil: For loans to Individual customers on floating rate basis

 

 

 

 

 

 

Pre-Payment charges

 

 

 

 

 

2% of the Principal amount of Loan

* Maximum amount upto 25% of the current POS paid within 12 months.

** If pre-payment amount paid exceed 25% of current POS in last 12 months, Full Pre-payment charges will be applicable.

 

Individual Borrowers: Nil

Other than individual borrowers and pre- payment within 12 months: a. Upto 25% of POS – Nil, and b. More than 25% of POS - 4% 

Other than Individual 
borrowers and pre- payment after the expiry of 12 months but before the expiry of 24 months: a. Upto 25% of POS – Nil, and b. More than 25% of POS - 3% 

Other than Individual borrowers and pre- payment after the expiry of 24 months but before the expiry of 48 months: a. Upto 25% of POS – Nil, and b. More than 25% of POS - 3% 

Other than Individual borrowers and pre- payment after the 
expiry of 48 months: Nil

 

Note: Part pre-payment is allowed only once in a financial year (April – 
March). If any of the co- 
applicants/borrowers is a business entity, prepayment charges 
are applicable.

 

 

 

 

 

Nil

Note: No pre- payment allowed in the first 6 months of loan disbursement

 

 

 

 

Pre-payment not allowed in the first 12 months of loan 
disbursement.

 

Prepayment upto 25% of the POS per year- Nil

Pre -payment beyond 25% of the POS after the expiry of 12 months but before the expiry of 24 
months: 4%

Pre -payment beyond 25% of the POS after the expiry of 24 months but before the expiry of 48 
months: 2%

Note: Pre- 
payment allowed only twice a year.

 

 

 

 

 

 

 

Upto 4% of the POS

 

 

 

 

Pre-payment not allowed in the first 12 months of loan 
disbursement.

 

Prepayment upto 25% of the POS per year- Nil

Pre -payment beyond 25% of the POS after the expiry of 12 months but before the expiry of 24 
months: 4%

Pre -payment beyond 25% of the POS after the expiry of 24 months but before the expiry of 48 
months: 2%

Note: Pre- 
payment allowed only twice a year.

 

 

 

 

2% of the POS for any amount of pre- payment.

Nil: For loans to Individual customers on floating rate basis

Note: Pre- payment allowed only twice a year.

 

 

 

 

 

2% of the POS for any amount of pre- payment.

Nil: For loans to Individual customers on floating rate basis

Note: Pre- payment allowed only twice a year.

 

Note: The above charges will attract applicable statutory levies and GST.

POS - Principal amount of loan outstanding