PENAL INTEREST & OTHER CHARGES

Penal Interest will not be charged for loans up to Rs 25000. For Loans above Rs.25000/- , if the irregularity exceeds EMI or Installment amount, for a period of one month ,then penal interest would be charged @2% p.a.(over and above the applicable interest rate) on the overdue amount for the period of default.

 

AUTO LOANS

Pre-Payment Penalty

Pre-payment penalty @ 1% + GST to be levied quarterly on the prepaid amount if prepaid within 2 years from the date of disbursement


Foreclosure Charges

Foreclosure charges @ 3% + GST on Theo balance to be levied only if closed within 2 years from the disbursement of loan.