Schedule Of Charges
Schedule Of Charges-All Products
(Effective 1st Jan, 2024)
Schedule Of Charges - All Products
(Effective 1st Jan, 2024)
Approach for Gradation of Risk:
Interest Rate comprising risk premium/spread has been provided inter-alia basis nature of loan, borrower's credit worthiness, nature of security, nature of product, borrower/risk profile, repayment capacity, past repayments, borrower's loan tenure and geography (location).
Fees & charges applicable to the loan facility are levied inter-alia basis cost & expenses for product/services, encourage financial discipline, competition/industry benchmarking, market practices for the loan type and quantum, in compliance with regulatory guidelines.
Education Loan
| Application Fee | Up to Rs. 6,000/- |
| Loan processing fee | Up to 2% |
| Cheque / ECS bounce changes (per bounce) | Rs. 1,000/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| Charges for other event of default i.e. non-compliance of material terms and conditions / Default Charges # | Rs.5,000/- p.m. until the default is cured * *[Cure period shall be as per the loan agreement or lender's notice and shall not exceed 90 days.] |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 500/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Rs. 2,500/- |
| Copy of Property / Security papers | Rs. 1,000/- |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumbrance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Rs. 10,000/- |
| Charges for updating & handling loan account as per customer request | Rs 1,500/- |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs. |
| Information Utility submission (per reporting per year) | Rs.50/- |
| Foreclosure charges | Nil Note: No pre- payment allowed in the first 6 months of loan disbursement |
| Pre-Payment charges | Nil Note: No pre- payment allowed in the first 6 months of loan disbursement |
| Conversion charges (For switching from Floating to Fixed at the time of interest reset) ** | 0.25% of loan outstanding amount |
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Education Institution Loan
| Application Fee | Rs. 5,000/- |
| Loan processing fee | Up to 3% |
| Cheque / ECS bounce changes (per bounce) ** | Rs. 2,500/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| Charges for other event of default i.e. non-compliance of material terms and conditions / Default Charges # | Rs.25,000/- p.m. until the default is cured * *[Cure period shall be as per the loan agreement or lender's notice and shall not exceed 90 days.] |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Up to Rs. 5,000/- |
| Copy of Property / Security papers | Rs. 1,000/- |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Rs. 500/- |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Rs. 150/- per lac or actual bank charges, whichever is higher. |
| Collateral Swap Charges | Rs. 10,000/- |
| Charges for updating & handling loan account as per customer request | Rs 1,500/- |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs. |
| Information Utility submission (per reporting per year) | Rs.250/- |
| Foreclosure charges | Foreclosure not allowed in the first 24 months of loan disbursement.
(Applicable charges in case of closure is at the discretion of company not beyond 6% of the POS) 4% of the POS: Foreclosure after 24 months till 48 months. 2% of the POS: Foreclosure after 48 months. |
| Pre-Payment charges | Pre-payment not allowed in the first 12 months of loan disbursement. Prepayment Up to 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. |
| Conversion charges (For switching from Floating to Fixed at the time of interest reset) | 0.25% of loan outstanding amount |
|
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Digital Business
| Application Fee | Nil |
| Loan processing fee | Up to 3.00% |
| Cheque / ECS bounce charges (per bounce) | Up to Rs. 1000/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| PDC / NACH Repayment mandate Swap Charges (per swap) | Up to Rs. 500/- |
| Collection pickup charges (per visit) | Up to Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Up to Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession Stamp duty Administrative an Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Up to Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Nil |
| Copy of Property / Security papers | Nil |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Up to Rs.500/- |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Nil |
| Charges for updating & handling loan account as per customer request | Nil |
| CERSAI Fees (per Collateral) | Nil |
| Information Utility submission (per reporting per year) | Nil |
| Foreclosure charges | Nil |
| Pre-Payment charges | Not allowed |
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
School Fee Finance & Vocational
| Application Fee | Up to Rs. 2,000/- |
| Loan processing fee | Up to 3.00% |
| Cheque / ECS bounce change (per bounce) | Rs.1000/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| PDC / NACH Repayment mandate Swap Charges (per swap) | Rs. 500/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Nil |
| Copy of Property / Security papers | Nil |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs.500/- |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Nil |
| Charges for updating & handling loan account as per customer request | Nil |
| CERSAI Fees (per Collateral) | Nil |
| Information Utility submission (per reporting per year) | Rs.50/- |
| Foreclosure charges | Nil: For loans to Individual customers on floating rate basis |
| Pre-Payment charges | 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 |
|
Approach for Gradation of Risk: |
|
Social Infrastructure Lending
| Application Fee | Rs. 750/- |
| Loan processing fee | Up to 3% |
| Cheque / ECS bounce changes (per bounce) ** | Rs. 2,500/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| Charges for other event of default i.e. non-compliance of material terms and conditions / Default Charges # | Rs.15,000/- p.m. until the default is cured * *[Cure period shall be as per the loan agreement or lender's notice and shall not exceed 90 days.] |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs.1,000/- |
| Collection pickup charges (per visit) | Rs.500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Up to Rs. 5,000/- |
| Copy of Property / Security papers | Rs. 1,000/- |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Rs. 500/- |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Rs. 150/- per lac or actual bank charges, whichever is higher. |
| Collateral Swap Charges | Rs. 10,000/- |
| Charges for updating & handling loan account as per customer request | Rs 1,500/- |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs. |
| Information Utility submission (per reporting per year) | Rs.250/- |
| Foreclosure charges | Foreclosure not allowed in the first 24 months of loan disbursement.
(Applicable charges in case of closure is at the discretion of company not beyond 6% of the POS) 4% of the POS: Foreclosure after 24 months till 48 months. 2% of the POS: Foreclosure after 48 months. |
| Pre-Payment charges | Pre-payment not allowed in the first 12 months of loan disbursement. Prepayment Up to 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. |
| Conversion charges (For switching from Floating to Fixed at the time of interest reset) | 0.25% of loan outstanding amount |
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Lending To Financial Institution
| Application Fee | Nil |
| Loan processing fee | Up to 1% |
| Cheque / ECS bounce changes (per bounce) | Rs. 2,500/- |
| Interest on Late Payment of EMI (per month on overdue EMI amount/Interest amount) | 2% p.m. |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Nil |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Nil |
| Copy of Property / Security papers | Rs. 1,000/- |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Rs. 500/- |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Rs. 150/- per lac or actual bank charges, whichever is higher. |
| Collateral Swap Charges | Rs. 10,000/- |
| Charges for updating & handling loan account as per customer request | Rs 1,500/- |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs. |
| Information Utility submission (per reporting per year) | Rs.250/- |
| Foreclosure charges | Up to 4% of the POS |
| Pre-Payment charges | Up to 4% of the POS |
| Note: The above charges will attract applicable statutory levies and GST. $ Applicable for requests, over and above the half yearly statements sent to registered email id. ^ Applicable for additional requests received for statements over and above issued during part prepayment |
|
| POS - Principal amount of loan outstanding | |
Approach for Gradation of Risk: |
|
Personal Loan
| Application Fee | Nil |
| Loan processing fee | Up to 2% |
| Cheque / ECS bounce changes (per bounce) | Rs. 1,000/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| Charges for other event of default i.e. non-compliance of material terms and conditions / Default Charges # | Rs.2,000/- p.m. until the default is cured * *[Cure period shall be as per the loan agreement or Lender's notice and shall not exceed 90 days.] |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Rs. 2,500/- |
| Copy of Property / Security papers | Nil |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Nil |
| Charges for updating & handling loan account as per customer request (per updation) | Nil |
| CERSAI Fees (per Collateral) | Nil |
| Information Utility submission (per reporting per year) | Nil |
| Foreclosure charges | 4% of the POS |
| Pre-Payment charges | 2% of the Principal amount of Loan * Maximum amount Up to 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. |
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Micro Enterprise Loan-Business Loan
| Application Fee | Nil |
| Loan processing fee | Up to 2% |
| Cheque / ECS bounce changes (per bounce) | Rs. 1,000/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Rs. 2,500/- |
| Copy of Property / Security papers | Nil |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Nil |
| Charges for updating & handling loan account as per customer request | Nil |
| CERSAI Fees (per Collateral) | Nil |
| Information Utility submission (per reporting per year) | Nil |
| Foreclosure charges | 4% of the POS |
| Pre-Payment charges | 2% of the Principal amount of Loan * Maximum amount Up to 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. |
|
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Small And Medium Enterprise Business Loan
| Application Fee | Nil |
| Loan processing fee | Up to 3% |
| Cheque / ECS bounce changes (per bounce) | Rs. 2,500/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Rs. 2,500/- |
| Copy of Property / Security papers | Nil |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Nil |
| Charges for updating & handling loan account as per customer request | Rs. 1,500/- |
| CERSAI Fees (per Collateral) | Nil |
| Information Utility submission (per reporting per year) | Nil |
| Foreclosure charges | 4% of the POS |
| Pre-Payment charges | 2% of the Principal amount of Loan * Maximum amount Up to 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. |
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Micro Enterprise Loan - Loan Against Property
| Application Fee | Nil |
| Loan processing fee | Up to 2% |
| Cheque / ECS bounce change (per bounce) | Rs. 2,500/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| PDC / NACH Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Rs. 2,500/- |
| Copy of Property / Security papers | Rs. 1,000/- |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Rs. 10,000/- |
| Charges for updating & handling loan account as per customer request | Rs 1,500/- |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs. |
| Information Utility submission (per reporting per year) | Rs.50/- |
| Foreclosure charges | Nil: For Individual borrower's 4% of the POS: Other than individual borrower's and foreclosure within 12 months 3% of the POS: Other than Individual borrower's and foreclosure after the expiry of 12 months but before the expiry of 24 months 2% of the POS: Other than Individual borrower's and foreclosure after the expiry of 24 months but before the expiry of 48 months Nil: Foreclosure after expiry of 48 months |
| Pre-Payment charges | Individual borrower's: Nil Other than individual borrower's and pre- payment within 12 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 4% Other than Individual borrower's and pre- payment after the expiry of 12 months but before the expiry of 24 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 3% Other than Individual borrower's and pre- payment after the expiry of 24 months but before the expiry of 48 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 3% Other than Individual borrower's 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/borrower's is a business entity, prepayment charges are applicable. |
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Small And Medium Enterprise Loan Against Property
| Application Fee | Nil |
| Loan processing fee | Up to 2% |
| Cheque / ECS bounce changes (per bounce) | Rs. 2,500/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Rs. 2,500/- |
| Copy of Property / Security papers | Rs. 1,000/- |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Rs. 500/- |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Rs. 10,000/- |
| Charges for updating & handling loan account as per customer request | Rs 1,500/- per updation |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs. |
| Information Utility submission (per reporting per year) | Rs. 400/- |
| Foreclosure charges | Nil: For Individual borrower's 4% of the POS: Other than individual borrower's and foreclosure within 12 months 3% of the POS: Other than Individual borrower's and foreclosure after the expiry of 12 months but before the expiry of 24 months 2% of the POS: Other than Individual borrower's and foreclosure after the expiry of 24 months but before the expiry of 48 months Nil: Foreclosure after expiry of 48 months |
| Pre-Payment charges | Individual borrower's: Nil Other than individual borrower's and pre- payment within 12 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 4% Other than Individual borrower's and pre- payment after the expiry of 12 months but before the expiry of 24 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 3% Other than Individual borrower's and pre- payment after the expiry of 24 months but before the expiry of 48 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 3% Other than Individual borrower's 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/borrower's is a business entity, prepayment charges are applicable. |
Note: The above charges will attract applicable statutory levies and GST. |
|
POS - Principal amount of loan outstanding |
|
Approach for Gradation of Risk: |
|
Emergency Credit Line Guarantee Scheme
| Application Fee | NIL |
| Loan processing fee | NIL |
| Cheque / ECS bounce changes (per bounce) ** | Rs. 2,500/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| Additional Interest/ Default Charges (including on non-compliance of loan terms) | Nil |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Nil |
| Repayment Mandate pickup charges (per visit) | Rs 1000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges (request based) | Nil |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval or Handling Charges | Nil |
| Copy of Property / Security papers | Nil |
| Additional Repayment Schedule ^ | Nil |
| Foreclosure statement charges | Nil |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumbrance Certificate | Nil |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Nil |
| Charges for updating & handling loan account as per customer request (per updation) | Nil |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs |
| Information Utility submission (per reporting per year) | Rs. 250/- |
| Foreclosure charges | Nil (Loan can be foreclosed any time) |
| Pre-payment Charges | Nil (Multiple part pre-payments allowed) |
Approach for Gradation of Risk: |
|
**Rs. 2500/- applicable from 10th July 2021 onwards| Rs.1000/- applicable till 9th July 2021
EL Value Added Loans - Retail LAP
| Application Fee | Nil |
| Loan processing fee | Up to 3.00% |
| Cheque / ECS bounce changes (per bounce) | Rs. 2,500/- |
| Penal Charges (per month on late payment of EMI) | 2% p.m. |
| Charges for other event of default i.e. non-compliance of material terms and conditions / Default Charges # | Rs.5,000/- p.m. until the default is cured * *[Cure period shall be as per the loan agreement or lender's notice and shall not exceed 90 days.] |
| PDC / NACH / Repayment mandate Swap Charges (per swap) | Rs. 1,000/- |
| Collection pickup charges (per visit) | Rs. 500/- |
| Repayment Mandate pickup charges (per visit) | Rs. 1,000/- |
| Outstation collection, Legal Evaluation / repossession, Stamp duty, Administrative and Valuation | As applicable and on actual basis |
| Statement of Account Charges $ | Rs. 1,000/- |
| Statement of Account Charges (Self Service portal) | Nil |
| Document Retrieval / Maintenance Charges | Rs. 2,500/- |
| Copy of Property / Security papers | Rs. 1,000/- |
| Repayment Schedule (Self Service Portal) | Nil |
| Additional Repayment Schedule ^ | Rs. 500/- |
| Foreclosure statement charges | Rs. 500/- |
| Copy of Sanction Letter | Nil |
| Loan Conversion, Cancellation and Non Encumberance Certificate | As applicable and on actual basis |
| Demand Draft/Pay Order issuance charges | Nil |
| Collateral Swap Charges | Rs. 10,000/- |
| Charges for updating & handling loan account as per customer request | Rs 1,500/- per updation |
| CERSAI Fees (per Collateral) | Rs. 50/- for loans Up to Rs. 5 lacs. Rs. 100/- for loans above Rs. 5 lacs. |
| Information Utility submission (per reporting per year) | Rs. 400/- |
| Foreclosure charges | Nil: For Individual borrower's 4% of the POS: Other than individual borrower's and foreclosure within 12 months 3% of the POS: Other than Individual borrower's and foreclosure after the expiry of 12 months but before the expiry of 24 months 2% of the POS: Other than Individual borrower's and foreclosure after the expiry of 24 months but before the expiry of 48 months Nil: Foreclosure after expiry of 48 months |
| Pre-Payment charges | Individual borrower's: Nil Other than individual borrower's and pre- payment within 12 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 4% Other than Individual borrower's and pre- payment after the expiry of 12 months but before the expiry of 24 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 3% Other than Individual borrower's and pre- payment after the expiry of 24 months but before the expiry of 48 months: a. Up to 25% of POS - Nil, and b. More than 25% of POS - 3% Other than Individual borrower's 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/borrower's is a business entity, prepayment charges are applicable. |
Note: The above charges will attract applicable statutory levies and GST. |
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POS - Principal amount of loan outstanding |
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Approach for Gradation of Risk: |
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We always aim to offer you competitive interest rates on your Avanse Education loan.
The rate of interest on your loan is calculated as: Interest Rate = Avanse Base Rate + Spread.
Our current Base Rate is 14.25% (WEF 01.05.2023).
The Spread is floating and is based on analysis of overall credit and course profiling.
- Rate of interest on student loan will be floating in nature.
- Interest is calculated using Simple Interest Rate with Monthly rest.
This rate is subject to the terms and conditions of Avanse Financial Services Ltd.