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SME Loan Interest Rates And Charges

Interest rates for loans booked between 1st Jan 2024 to 31st Mar 2024

Products Min of ROI Max of ROI
Loan Against Property 9.5 19.0
Business Instalment Loan 12.0 22.0
Machinery Term Loan 7.2 16.0
Supply Chain Finance( BD and PO) 7.7 14.5
Corporate Others(RSTL, WCTL, Bridge Finance etc.) 8.6 14.0

The Rate of Interest is arrived at based on the Weighted Average Cost of Funds, Administrative Costs, Risk Premium and Profit Margin.

Schedule of charges for SME Loan w. e. f. 1st Apr 2024

Nature of Fee/Charges Loan Against Property and LRD Machinery Loan Business Instalment Loan Bill Discounting and PO Working Capital Loans & other BE products
Applicable Verticals RE/BE RE/BE RE/BE BE BE
Processing Fees Upto 2% of Sanction Limit+ Applicable GST
Handling Charges/Transaction Charges NA NA NA Upto ₹1,500 +GST per batch NA
Login Fees Non Refundable Upto ₹ 5,500 + Applicable GST NA NA NA NA
Renewal Processing Fee NA NA NA Upto 2% of Sanction Limit+ Applicable GST Upto 2% of Sanction Limit+ Applicable GST
ROC filing charges ₹ 1,200+ Applicable GST (wherever applicable) ₹ 1,200+ Applicable GST (wherever applicable) NA NA ₹ 1,200+ Applicable GST (wherever applicable)
Repayment Instruction / Instrument Return Charges ₹500+Applicable GST per instance
Penal charges for delayed payment Upto 3.00% Per Month on amount overdue + Applicable GST
Penal charges- Non submission of stock statement NA NA NA NA Upto ₹ 50,000 + Applicable GST
Penal charges- Non submission of Property/Machine/ stock insurance wherever applicable Upto ₹ 50,000 + Applicable GST Upto ₹ 50,000 + Applicable GST NA NA Upto ₹ 50,000 + Applicable GST
Penal Charges- Non creation of Security Upto 4% Per Annum on the amount outstanding for the period of default + Applicable GST Upto 4% Per Annum on the amount outstanding for the period of default + Applicable GST NA NA Upto 4% Per Annum on the amount outstanding for the period of default + Applicable GST
Foreclosure Charges Floating Rate Loans a)Individual Borrower-Non-Business End Use Nil b)Individual & Non-Individual Borrower Business End Use – upto 4% of Loan outstanding +Applicable GST a)Individual Borrower-Non-Business End Use Nil b)Individual & Non-Individual Borrower Business End Use – upto 4% of Loan outstanding +Applicable GST a)Individual Borrower-Non-Business End Use Nil b)Individual & Non-Individual Borrower Business End Use – upto 4% of Loan outstanding +Applicable GST NIL a)Individual Borrower-Non-Business End Use Nil b)Individual & Non-Individual Borrower Business End Use – upto 4% of Loan outstanding +Applicable GST
Part Pre-payment charges Floating Rate Loans a)Individual Borrower-Non-Business End Use Nil b)Individual & Non-Individual Borrower Business End Use – 4% of amount pre-paid +Applicable GST a)Individual Borrower-Non-Business End Use Nil b)Individual & Non-Individual Borrower Business End Use – 4% of amount pre-paid +Applicable GST a)Individual Borrower-Non-Business End Use Nil b)Individual & Non-Individual Borrower Business End Use – 4% of amount pre-paid +Applicable GST NIL a)Individual Borrower-Non-Business End Use Nil b)Individual & Non Individual Borrower Business End Use – 4% of amount pre-paid +Applicable GST
Foreclosure Charges Fixed Rate Loans Upto 4% of Loan outstanding +Applicable GST Upto 4% of Loan outstanding +Applicable GST Upto 4% of Loan outstanding +Applicable GST NIL Upto 4% of Loan outstanding +Applicable GST
Part Pre-payment charges Fixed Rate Loans Upto 4% of amount prepaid +Applicable GST Upto 4% of amount prepaid +Applicable GST Upto 4% of amount prepaid +Applicable GST NIL Upto 4% of amount prepaid +Applicable GST
Switching Fees (Higher Floating Rate to Lower Floating Rate) Upto ₹5,000+GST (Wherever Applicable) per instance Upto ₹5,000+GST (Wherever Applicable) per instance NA Upto ₹5,000+GST (Wherever Applicable) per instance Upto ₹5,000+GST (Wherever Applicable) per instance
Legal Charges including sending of legal notices As per actuals