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Personal Loan Fees and Charges

Note: Details of Fees and Charges for pre-approved Personal Loans extended to current customers of Mahindra Finance can be accessed here. Mentioned below are fees and charges applicable to other personal loans offered by the Company.

Schedule of Fees and Charges for Personal Loan

Sr. No.	Nature of Charges	Charges
1	SOA Charges/ Duplicate statement issuance charges	Rs. 250
2	Pre-Closure Charges / Pre closure working (per statement)	Within 6 months from date of disbursement: 4% on Principal Outstanding + Tax After first 6 months from date of disbursement: NIL
3	Part-payment charges	Within 6 months from date of disbursement: 4% on Principal Outstanding + Tax After first 6 months from date of disbursement: NIL
4	Documentation charges	NIL
5	Processing Fee	2% of loan amount or Rs. 5000, whichever is lesser
6	Stamping Charges including GST	Rs. 50 /-
7	Legal, Repossession & Incidental charges	Legal charges – Rs. 25,000 or actual whichever is higher Notice charges – Rs. 125
8	Stamp Duty	At actual as per applicable state law
9	Payment Collection Charges (FVC)	Rs. 200 Per Transaction
10	Duplicate statement for principal & interest breakup in addition to repayment schedule	Rs. 100/- per statement
11	Cheque/ACH/NACH/ECS/Direct Debit Bounce Charges	Rs. 450 per returned instrument per instance
12	Penal Charges (Late payment penalty)	3% per month of unpaid EMI amount charged on per day basis

Fees and Charges are exclusive of GST and other applicable Taxes, which shall be additionally chargeable as applicable.