Business Loan

Processing Fees:

Up to 3% on sanctioned amount + applicable taxes

EMI Dishonour/Bounce Charge*
*A bounce charge is a charge for
(i) dishonour of any repayment 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

As shown in the table below

Penal Charge/Late Payment Charge (LPC):

• 2% per month (p.m.) on overdue EMI + applicable taxes

• *LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023

• *Taxes applicable on LPC w.e.f.1st Apr 2024

Part Prepayment Charges:

For Term Loan :
Within 6 months of disbursement: Not allowed Post 6 months of disbursement: 2% + applicable taxes on total part-prepayment amount
For Dropline Overdraft / Hybrid Overdraft : NIL, Part - prepayment of Loan will not amount to limit reduction.

Annual Maintenance Charges (AMC):

For Term Loan : Nil
For Dropline / Hybrid Overdraft: 0.5% + GST (if applicable), on the Dropline limit starting on the 13th Instalment and every anniversary thereafter

Legal / Recovery Charges:

As per actuals

Foreclosure Charges:

Repayment Swap Charges (per swap):

₹ 500/- + applicable taxes

Charges for documents:

Nil for digital copy.
Charge for paper copy is ₹ 500/- +GST per statement/letter/ certificate (Statement of Account/ Repayment Schedule/Foreclosure Letter/No Dues Certificate/Interest Certificate)