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Vehicle Loan Fees and Charges

Retail Loans:

1.1 Service Charges (Below charges excluding GST wherever applicable):

Sr.No. Nature of Charges Amount Details
1 SOA Charges/ Duplicate statement issuance charges Rs. 250
2 Pre- Closure Charges / Pre closure working (per statement)
  • No Foreclosure allowed within 6 months from the date of availing the Vehicle Loan
  • 6% of Principal O/S for pre closure within 24 months from 7th EMI
  • 3% of Principal O/S for pre closure post 24 months
3 Documentation charges As per Scheme
4 Processing Fee As per Scheme
5 Legal, Repossession & Incidental charges
  • Legal charges – Rs. 25,000 or actual whichever is higher
  • Repossession charges – Rs. 10,000 or actual whichever is higher
  • Notice charges – Rs. 125
6 Stamp Duty At actual as per applicable state law
7 Roll over PDC Charges (One time charge) Rs. 500
8 Non PDC Charges (Cash payment mode- one time) Rs. 1500
9 Charges for swapping PDCs of one bank to another / Swapping charges (From ECS/PDC) Rs. 1000
10 Payment Collection Charges (FVC) Rs. 200 Per Transaction
11 Commercial/Personal Use NOC (Conversion subject to Credit Approval) 2% of POS
12 Specific statement for principal & interest breakup in addition to repayment schedule Rs. 100/- per statement
13 Issue of duplicate security deposit receipt Rs. 250/- per receipt

1.2 Penalty Charges:

Sr.No. Nature of Charges Amount Detail
1 Cheque ECS Bounce charges Rs. 500 per returned ECS/Cheque per instance
2 Duplicate NOC Charges Rs. 500 per instance
3 LPG/CNG NOC, Any other Special NOC Rs. 500 per instance
4 Penal Charges (Late payment penalty) 3% per month on the amount overdue
5 Assignment charges (from Both the parties) 2% on an outstanding loan