Lease Rental Discounting Interest Rates, Processing Fees, and Charges

Type of fee

Applicable charges

Processing fees

Up to 3.54% of the loan amount (inclusive of applicable taxes)

Documentation charges

Up to Rs. 2,360 (inclusive of applicable taxes)

Flexi Facility Charge

Term Loan: Not applicable

Flexi variant (as applicable below) - (Inclusive of applicable taxes):

Flexi Term Loan (Flexi dropline):

• Up to Rs. 999 for loan amount less than Rs. 50,00,000
• Up to Rs. 1,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999
• Up to Rs. 1,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999
• Up to Rs. 2,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
• Up to Rs. 3,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
• Up to Rs. 4,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
• Up to Rs. 5,999 for loan amount Rs. 7,50,00,000 and above

Flexi Hybrid Loan:

• Up to Rs. 5,999 for loan amount less than Rs. 50,00,000
• Up to Rs. 11,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999
• Up to Rs. 14,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999
• Up to Rs. 19,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
• Up to Rs. 21,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
• Up to Rs. 25,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
• Up to Rs. 29,999 for loan amount Rs. 7,50,00,000 and above

Will be deducted upfront from loan amount.

*Loan amount includes approved loan amount, insurance premium, VAS charges, and documentation charges.

Pre-payment charges

Full pre-payment/Foreclosure

• Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
• Flexi Hybrid Loan: Not applicable
  

Part pre-payment

• Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part pre-payment.
• Flexi Term Loan (Flexi Dropline): Not applicable

Note: If all borrowers and co-borrowers are Individual, loan availed on floating interest rates, and loan taken for purpose other than business use, then there will be no foreclosure/part-payment charges.

Annual maintenance charges

Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Not applicable
Flexi Hybrid Loan: Not applicable

Bounce charges

Rs. 1,500/- per bounce/- 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

Penal Charge

Penal Charge is applicable in the following scenarios:

a. Penal Charge:
Any payment default shall attract penal charge of Rs. 190 per day for period of such delay from the respective due date and continue to apply until the date of receipt of amounts under the said default.

b. Covenant Perfection Charge:
i) Rs. 800/- per day for non-submission of critical documents after 90 days of disbursement. Levy from the date when due on non-compliance of any one or all heads in the category.
ii) Rs. 500/- per day for non-submission of non-critical documents after 120 days of disbursement. Levy from the date when due.

Stamp duty (as per respective state)

Payable as per state laws

Broken Period Interest/ Pre-EMI Interest

Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows: 

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:

For Term Loan: BPI amount will be capitalised, i.e added to Principal amount on due date / deducted from disbursement
For Flexi Loans: BPI amount will be capitalised, i.e added to Principal amount on due date / added to first instalment

For Quick disbursal process: BPI amount will be capitalised, i.e added to Principal amount on due date / added to first instalment

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:
First instalment will consist of interest for actual number of days.

Mortgage origination fees

Up to Rs. 6,000 (inclusive of applicable taxes) per property charged upfront.

Note - In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount.

For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any)

For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any)

Note:

a) The company would charge additional interest rate risk premium of 200 bps over the applicable rate of interest on the borrower's loan account as on that date.
b) Three conversions are permissible throughout the entire tenure

For Term Loan: Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any)

For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any)

Note: Three conversions are permissible throughout the entire tenure.

Principal Holiday (as applicable below) -

• Up to Rs. 5,999 (Inclusive of applicable taxes) for loan amount less than Rs. 50,00,000.
• Up to Rs. 11,999 (Inclusive of applicable taxes) for loan amount between Rs. 50,00,000 and 74,99,999.
• Up to Rs. 14,999 (Inclusive of applicable taxes) for loan amount between Rs. 75,00,000 and Rs. 99,99,999.
• Up to Rs. 19,999 (Inclusive of applicable taxes) for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999.
• Up to Rs. 21,999 (Inclusive of applicable taxes) for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999.
• Up to Rs. 25,999 (Inclusive of applicable taxes) for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999.
• Up to Rs. 29,999 (Inclusive of applicable taxes) for loan amount Rs. 7,50,00,000 and above.

Note: The above principal holiday facility fees will be deducted upfront from loan amount.

Loan amount includes approved loan amount, insurance premium, VAS charges and documentation charges.