Rate of Interest
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SME Business Loan : 18% – 28%
SME Secured Loan : 11% – 16%
SME Machinery Loan : 14.50% –18.50%
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Processing Fees
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SME Business Loan : upto 2% of the loan amount + applicable taxes
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SME Machinery Loan : upto 2% of the loan amount + applicable taxes
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SME Secured Loan : upto 2% of the loan amount + applicable taxes
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Late payment Charges/Penal Interest
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24% per annum
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Cheque Swap Charge
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Up to Rs. 500 + applicable taxes per swap
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Document Retrieval Charge
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Up to Rs. 500 plus applicable taxes
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List/copy of original property
documents (With effect from 16th June 2022)
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SME Secured Loan : Rs. 2100+GST
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Cheque Bounce Charge
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Up to Rs. 500 + applicable taxes per bounce
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Foreclosure Charge/
Part- Prepayment Charges
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Fixed Rate Loan (Individual /Non Individual Borrowers**):
- SME Business Loan :4% of the principal amount outstanding +applicable taxes
- SME Machinery Loan :4% of the principal amount outstanding +applicable taxes
- Personal Lending Loan
Salary Advance Loan :
On pre-payment of the entire outstanding loan amount the borrower would be entitled to a prepayment cashback of 4% on the outstanding loan amount
No part prepayments are allowed
The prepayment cashback is not applicable in event of the borrower having defaulted during the tenure of the loan
Salaried Personal Loan : 4% of the principal amount outstanding +applicable taxes
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Floating rate Loans (Individual*/Non Individual Borrowers**):
SME Secured Loan :4% of the principal amount outstanding+ applicable taxes
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Duplicate Statement Issuance Charge
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Up to Rs. 500 plus applicable taxes per document
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Cheque Pick up Charge
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Up to Rs. 150 plus applicable taxes per pick up
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CERSAI Registry / Modification charges (Only for SME Secured Loans & SME Equipment Loan)
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- Rs.100 plus applicable taxes (for Loans above Rs. 5 Lacs )
- Rs. 50 plus applicable taxes (for Loans upto Rs. 5 Lacs )
You may visit the website of CERSAI www.cersai.org.in for details of such charges.
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NeSL Data Submission Charges (plus applicable taxes)(Only for SME Secured Loans, Business Loan to Companies, SME Equipment Loan);
For more information, kindly visit https://www.nesl.co.in/ for details of charges.
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Applicant
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Companies
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Other Commercial entities
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Individuals
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Data submission per loan record of a borrower for each year
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1st loan record:Rs. 300/-
2-10 loan record; Rs. 100/-each
11th onwards – Rs. 50/- each
Annual renewal fee- Rs-250/- each
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1st loan record: Rs. 150/-
2nd onwards:
Rs. 50/- each Annual renewal fee- Rs-125/- each
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Unsecured- All loan records- Rs. 25/- each Secured- All loan records- Rs.50/-each.(one-time fee) (Rs.10 for annual updation after completion of period of 5 years from the date of 1st submission)
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Stamp Duty & other statutory
Charges
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As per applicable laws of the State
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Conversion Fee
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Up to 1.5 % of the Loan outstanding plus applicable taxes will be charged for reduction in the Interest rate of existing Loans
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*Nil foreclosure charges/pre-payment charges applicable for floating term loans sanctioned for loan purposes other than business to individuals borrowers.
**Non individual borrower means and includes Sole Proprietorship Concern, HUF, Partnership Firm, Company, Limited Liability Partnership (LLP), AOI, BOI.
*1 – Variable Rate Loan linked to SMERR
You shall be required to submit a Prepayment Request Letter along with copies of your Bank Statement or any other document that the Company deems necessary to ascertain the source of funds used for the prepayment. All charges, taxes, levies etc. applicable as per the prevailing rate will be charged over and above these charges. This statement of charges is as on date of disbursement and is subject to changes / revision from time to time and will be updated on the website.
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