| Rate of Interest
|
|
 SME Business Loan
|
: |
18% - 28%
|
|
SME Secured Loan *1
|
: |
13% - 16%
|
|
SME Equipment Loan
|
: |
14.50% - 18.50% |
|
Personal Lending Loan
|
: |
15% - 31.50% |
|
| Processing Fees
|
SME Business Loan
 Micro
Million : Upto 3.5% of the loan amount + applicable taxes
Mini
Million & E Million Loan : Upto3% of the loan amount + applicable taxes
Multi
Million & Super Million Loan : Upto 2% of the loan amount + applicable taxes
SME
Equipment Loan : Upto 2% of the loan amount + applicable taxes
SME
Secured Loan : Upto 2% of the loan amount + applicable taxes
Personal Lending Loan
Salary
Advance Loan : NIL
Salaried
Personal Loan : upto 2% of the loan amount + applicable taxes
|
| Charge for Late payment
|
24%
per annum
|
| Cheque Swap Charge
|
Upto Rs 500/- Per Swap
|
| Document Retrieval Charge
|
Upto Rs 500 plus applicable taxes
|
| Cheque Bounce Charge
|
Upto Rs 500 + applicable taxes per bounce
|
| Foreclosure Charge/Part- Prepayment Charges
|
Fixed
Rate Loans (Individual /Non Individual Borrowers**) :
SME
Business Loan : 4% of the principal amount outstanding +applicable taxes
SME
Equipment Loan : 4% of the principal amount outstanding +applicable taxes
Personal Lending Loans
Salary Advance Loan :
On
pre-payment of the entire outstanding loan amount the borrower would be entitled
to a prepayment cashback of 4% on the outstanding loan amount
No
part prepayments are allowed
The
prepayment cashback is not applicable in event of the borrower having defaulted
during the tenure of the loan
Salaried Personal Loan : 4% of the principal amount outstanding +applicable taxes
Floating
Rate Loans (Individual*/Non Individual Borrowers**):
SME
Secured Loan : 4% of the principal amount outstanding+ applicable taxes
|
| Duplicate Statement Issuance Charge
|
Upto Rs. 500 plus applicable taxes per document
|
| Cheque Pick up Charge
|
Upto Rs. 150 plus applicable taxes per pick up
|
| CERSAI Registry / Modification charges (Only for SME Secured Loans & SME Equipment Loan)
|
Rs.100 plus applicable taxes (for Loans above Rs. 5 Lacs )
Rs.
50 plus applicable taxes (for Loans upto Rs. 5 Lacs )
You may visit the website of CERSAI (www.Cersai.org.in) for details of such charges.
|
|
NeSL Data Submission Charges (plus applicable taxes) (Only for SME Secured
Loans, Business Loan to Companies, SME Equipment Loan); For more information, kindly
visit www. Nesl.co.in for details of charges.
|
|
Applicant
|
Companies
|
Other Commercial entities
|
Individuals
|
| Data submission per loan record of a borrower for each year
|
1st loan record – Rs. 300/-
2-10 loan record – Rs. 100/- each
11th onwards – Rs. 50/- each
Annual Renewal fee- Rs.250/-
|
1st loan record – Rs. 150/-
2nd onwards – Rs. 50/- each
Annual Renewal fee- Rs.125/-
|
Unsecured- All loan records Rs. 25/- each
Secured- All loan records Rs.50/-each.
(one-time fee)
(Rs.10 for annual updation after completion of period of 5 years from the date of 1st submission)
|
|
| Stamp Duty & other statutory Charges
|
As per applicable laws of the State
|
| Conversion Fee
|
Upto 1.5% of the Loan outstanding plus applicable taxes will be charged for reduction
in the Interest rate of existing Loans
|
*Nil foreclosure charges/pre-payment charges applicable for floating term loans
sanctioned for loan purposes other than business to individuals borrowers.
**Non individual borrower means and includes Sole Proprietorship Concern, HUF,
Partnership Firm, Company, Limited Liability Partnership (LLP), AOI, BOI.
*1 - Variable Rate Loan linked to SMERR
You
shall be required to submit a Prepayment Request Letter along with copies of your
Bank Statement or any other document that the Company deems necessary to ascertain
the source of funds used for the prepayment.
All
charges, taxes, levies etc. applicable as per the prevailing rate will be charged
over and above these charges. This statement of charges is as on date of disbursement
and is subject to changes / revision from time to time and will be updated on the
website.
|