Retail Loan Fees and Charges Mahindra Finance

Schedule of Fees and Charges for Vehicle and other Retail Loans

Sr. No.	Nature of Charges	Vehicle and other Retail Loans
1	SOA Charges / Duplicate statement issuance charges	Rs. 250
2	Pre-Closure Charges / Pre closure working (per statement)	During the first 24 months of loan origination, foreclosure charges @ 6% shall be levied on the principal outstanding and thereafter,@ 3% to be charged.
3	Documentation Charges	As per table below
4	Processing Fee	As per table below
5	Service Charge	As per table below
6	Legal, Repossession & Incidental charges	Legal charges-actuals Repossession charges- actuals Notice charges – Rs.125
7	Stamp Duty	At actual as per applicable state law
8	Part-payment charges	5% on the part payment amount in case part prepayment is within 13-24 months from 1st EMI 3% on the part payment amount in case part prepayment is post 24 months
9	Cash handling charges for repayment mode other than PDC/ACH/ECS direct debit	Rs. 1500
10	Charges for swapping PDCs of one bank to another / Swapping charges (From ECS/PDC)	Rs. 1000
11	Payment Collection Charges (FVC)	Rs. 200 Per Transaction
12	Commercial/Personal Use NOC (Conversion subject to Credit Approval)	2% of principal outstanding
13	Cheque/ACH/NACH/ECS/Direct Debit Bounce Charges	Rs. 500 per returned instrument per instance
14	Duplicate NOC Charges	Rs. 500 per instance
15	LPG/CNG NOC, Any other Special NOC	Rs. 500 per instance
16	Penal Charges (Late payment penalty)	36% per annum. applicable on amount overdue

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

Sr. No.	Business Segment	Document Charges
1	Pre Owned Car Loans	Rs. 1750
2	Car Loans – Non Mahindra	Rs. 2000 +
3	Farm Equipment Sector	Rs. 1200
4	Sub One Ton	Not applicable
5	Commercial Vehicle and Construction Equipments	Charges Per vehicle: for ICV, M&HCV Rs. 3500 with ENACH, Rs. 6000 without ENACH for LCV & SCV – Rs. 2500 with ENACH & Rs. 4000 w/o ENACH
6	Auto Loans – Mahindra Vehicles	Rs. 500
7	Pre-approved Personal Loans extended to current customers	Nil

Sr. No.	Business Segment	Processing Fee & Service and Other charges
1	Pre Owned Car Loans	Up to 2% % of sanction amount
2	Car Loans – Non Mahindra	Up to 2% % of sanction amount
3	Farm Equipment Sector	Up to 2% % of sanction amount
4	Commercial Vehicle and Construction Equipments	Up to 2% %
5	Auto Loans – Mahindra Vehicles	0. Up to 2% of the sanction amount
6	Pre-approved Personal Loans extended to current customers	2 % of sanction amount

Sr. No.	Business Segment	Other/ Service Charges
1	Pre Owned Car Loans	Nil
2	Car Loans – Non Mahindra	Standard Charges Rs. 1200 (including additional service charges of Rs. 200)
3	Farm Equipment Sector	Nil
4	Sub One Ton	Nil
5	Commercial Vehicle and Construction Equipments	Nil
6	Auto Loans – Mahindra Vehicles	Nil
7	Pre-approved Personal Loans extended to current customers	Nil

Sr. No.	Business Segment	Processing Fee & Service and Other charges
1	Pre Owned Car Loans	Up to 2% % of sanction amount
2	Car Loans – Non Mahindra	Up to 2% % of sanction amount
3	Farm Equipment Sector	Up to 2% % of sanction amount
4	Commercial Vehicle and Construction Equipments	Up to 2% %
5	Auto Loans – Mahindra Vehicles	0. Up to 2% of the sanction amount
6	Pre-approved Personal Loans extended to current customers	2 % of sanction amount

MMFSL incurs various expenses during loan processing, including Vahan charges, bureau charges, E-KYC fees, FI costs and employee-related expenses. Cancellation charges are levied to recover these costs if a loan is cancelled after processing efforts.
In case the loan is closed within the cooling period of 3 days, cancellation charges will not be applicable.
Deviation, if any, to the charges mentioned, will be implemented as per internal policy.

Vehicle returned to Dealer due to manufacturing faults, technical glitches, defects
Non delivery due to customer’s personal reasons like medical emergency, family issues, contract cancellations
Wrong model/variant delivered by dealer
Vehicle not delivered to customer by the dealer for various reasons (like model not available, margin money not received, etc).
Cancellation due to PDD not Delivered in time
Change of vehicle variant: (Not Applicable to CV CEQ vertical)
Change of vehicle variant after issuance of system DO: (Applicable only to CV CEQ vertical).
Cases where Dealer has not disbursed the funds to Customer or there is dispute between Dealer and Customer: (Applicable to POCL and Aggregator POCL)

Product-wise Cancellation Charges: BAU / BLM	CV CEQ	FES (New tractors & Harvesters)	FES (Farm Implements & DG sets)	POCL	Non- Aggregator (POCL)
Higher of Rs 5,000 or intermediatory charges as calculated in system	Higher of Rs 5,000 or intermediatory charges as calculated in system	Higher of Rs 3,000 or intermediatory charges as calculated in system	Higher of Rs 1,000 or intermediatory charges as calculated in system	Max of 5000 or 1% of Loan Amount	Max of 5000 or 1.5% of Loan Amount

*Intermediatory Charges are defined and includes the following charges as mentioned below (No foreclosure charges to be collected)