Applicable interest rate and processing fees for ESOP Financing
The following charges are applicable on ESOP financing:
| Types of fees | Charges applicable |
| Interest rate | 8% to 15% per annum |
| Processing fee | Up to 4.72% of the loan amount (inclusive of applicable taxes). |
| Prepayment charges | Full prepayment - Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment Part-prepayment - Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment |
| Bounce charges | Rs. 1,200/- per bounce. “Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason. |
| Annual maintenance charges | Up to 1.18% (inclusive of applicable taxes) on the sanctioned amount |
| Penal charge | Delay in payment of instalment (as per payment frequency mentioned in the Sanction Letter) shall attract penal charges as more particularly described in Annexure I from the respective due date until the date of receipt of instalment (as per payment frequency mentioned in the Sanction Letter)/principal/overdue amount. To view Annexure I, kindly click here. |
| Stamp duty | Payable as per state laws |
| Brokerage charges* | As applicable at actuals |
| DP charges** | As applicable at actuals |
| Pledge confirmation charges** | As applicable at actuals |
| Pledge invocation charges** | As applicable at actuals |
| Demat share transfer charges (post invocation)** | As applicable at actuals |
| Legal charges | Recovery of charges |
*Charges levied by Broker to BFL and the same is being passed on to the clients
**Charges levied by NSDL/ CDSL to BFL and the same is being passed on to the clients
Frequently asked questions
Bajaj Finance offers interest rate of 8% to 15% per annum. for ESOP financing.
Apart from that there are other fees applicable. Common fees include processing fees, part-prepayment fee, foreclosure charges and many more. These fees are typically charged upfront or deducted from the loan amount and can add to the total cost of the loan.
Yes, Bajaj Finance charges a processing fee of up to 4.72% of the loan amount (inclusive of applicable taxes).
The fees and charges associated with ESOP financing are mentioned above. It's important to carefully consider the interest rate and any fees associated with a loan before accepting it to understand the full cost of borrowing and ensure that the terms are reasonable and affordable.
