Interest Rate, Fees & Charges

Pursuant to RBI Notification No. RBI/2019-20/30 DNBR (PD) CC.No.101/03.10.001/2019-20 dated August 2, 2019, Nil foreclosure/pre-payment charges will be applicable for floating term loans sanctioned for loan purposes other than business to individuals borrowers. This will be applicable for all disbursed cases w.e.f August 5,2019. For More information, Click here :

 

        Rate of Interest

 

  SME Business Loan        :       18% – 28%

  SME Secured Loan          :       11% – 16%

  SME Machinery  Loan      :       14.50% –18.50%

 

 

 

          Processing Fees

 

 

 

SME Business Loan                                     : upto 2% of the loan amount + applicable taxes

  SME Machinery Loan                                 : upto 2% of the loan amount + applicable taxes

  SME Secured Loan                                      : upto 2% of the loan amount + applicable taxes

Late payment Charges/Penal Interest

24% per annum

Cheque Swap Charge

Up to Rs. 500 + applicable taxes per swap

Document Retrieval Charge

Up to Rs. 500 plus applicable taxes

 List/copy of original property

 documents
(With effect from 16th June 2022)


SME Secured Loan                                 : Rs. 2100+GST 

Cheque Bounce Charge

Up to Rs. 500 + applicable taxes per bounce

 

 

 

Foreclosure Charge/

Part- Prepayment Charges

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
  1.   Salary Advance Loan :
  2.   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
  3.   No part prepayments are allowed
  4.   The prepayment cashback is not applicable in event of the borrower having defaulted during the tenure of the loan
  5.   Salaried Personal Loan : 4% of the principal amount outstanding +applicable taxes

Floating rate Loans (Individual*/Non Individual Borrowers**):

SME Secured Loan       :4% of the principal amount outstanding+ applicable taxes

Duplicate Statement Issuance Charge

Up to Rs. 500 plus applicable taxes per document

Cheque Pick up Charge

Up to Rs. 150 plus applicable taxes per pick up

CERSAI Registry / Modification charges (Only for SME Secured Loans & SME Equipment Loan)
  •  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.

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.

Applicant

Companies

Other Commercial entities

Individuals

Data submission per loan record of a borrower for each year

1st loan record:Rs. 300/-

2-10 loan record;                        Rs. 100/-each

11th onwards – Rs. 50/- each

Annual renewal fee- Rs-250/- each

1st loan record: Rs. 150/-

2nd onwards:

Rs. 50/- each Annual renewal fee- Rs-125/- each

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)

Stamp Duty & other statutory

Charges

As per applicable laws of the State

Conversion Fee

Up to 1.5 % of the Loan outstanding plus applicable taxes will be charged for reduction in the Interest rate of existing Loans

*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.
Rate of Interest9.98% – 18.20%
Processing FeesUpto 2% of Loan Amount plus applicable taxes

Part Prepayment/ Foreclosure Charge

  • Non Housing Loans
  • No pre-payment in the first 6 months of the loan*
  • Minimum pre-payment amount is 2 EMI’s or Rs. 100,000 whichever is higher*
  • Floating Rate Loans:

Individual Borrowers** : Nil

Non Individual Borrowers***: 5% of Prepaid / Outstanding amount plus applicable taxes

  • Fixed Rate Loans : 5% of Prepaid / Outstanding amount plus applicable taxes
Charge for Late payment
  • 24% per annum
Cheque Swap Charge
  • Upto Rs. 500 plus applicable taxes per Swap
Document Retrieval Charge
  • Upto Rs. 500 plus applicable taxes
Cheque Bounce Charge
  • Upto Rs.500 plus applicable charges per bounce
Duplicate Statement Issuance Charge
  • Upto Rs. 500 plus applicable taxes per document
Cheque Pick up Charge
  • Upto Rs. 150 plus applicable taxes per pick up
CERSAI charges
  • 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
NeSL Data Submission Charges
(plus applicable taxes)

* For more information, kindly visit www. Nesl.co.in for details of charges.

ApplicantCompaniesOther Commercial entitiesIndividuals
Data submission per loan record of a borrower for each year

1st loan record – Rs. 300/-

2-10 loan record – Rs. 100/- each

11th onwards – Rs. 50/- each

Annual Renewal fee- Rs.250/-

1st loan record – Rs. 150/-

2nd onwards – Rs. 50/- each

Annual Renewal fee- Rs.125/-

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)

Stamp Duty & other statutory ChargesAs per applicable laws of the State
Conversion Fee
  • Upto 1.5% of the Loan outstanding plus applicable taxes will be charged for reduction in the Interest rate of existing Loans

*Applicable for loans sanctioned for business purposes.

**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.

  • 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 are subject to changes / revision from time to time and the same will be updated
    on the website.
Pursuant to loans granted under emergency credit line guarantee scheme (hereinafter referred as the “ECLGS Scheme”) of the National Credit Guarantee Trustee Company (hereinafter referred to as “NCGTC”) (A Government of India Undertaking)
Processing Fees Nil
Part Prepayment / Foreclosure Charges Nil pre-payment charges in case of early repayment.
Penal Interest 24 % per annum
Cheque Swap Charge Up to Rs. 500 plus applicable taxes per Swap
Document Retrieval Charge Up to Rs. 500 plus applicable taxes
Cheque Bounce Charge Up to Rs.500 plus applicable charges per bounce
Duplicate Statement Issuance Charge Up to Rs. 500 plus applicable taxes per document
Cheque Pick up Charge Up to Rs. 150 plus applicable taxes per pick up
CERSAI Registry / Modification charges (Only for SME Secured & Equipment Loans)
  • Rs.100 plus applicable taxes (for Loans above Rs. 5 Lacs)
  • Rs. 50 plus applicable taxes (for Loans up to Rs. 5 Lacs)
  • You may visit the website of CERSAI (www.cersai.org.in) for details of such charges.
NeSL Data Submission Charges (plus applicable taxes) (Only for SME Secured Loans, Business Loan to Companies, SME Equipment Loan); For more information, kindly visit (www.Nesl.co.in) for details of charges.
Applicant Companies Other Commercial entities Individuals
Data submission per loan record of a borrower for each year 1st loan record – Rs. 300/- 2-10 loan record – Rs. 100/- each 11th onwards – Rs. 50/- each Annual Renewal fee- Rs.250/- 1st loan record – Rs. 150/- 2nd onwards – Rs. 50/- each Annual Renewal fee- Rs.125/- 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)
Stamp Duty & other statutory Charges As per applicable laws of the State
**Non individual borrower means and includes Sole Proprietorship Concern, Partnership Firm, Company, Limited Liability Partnership (LLP). Borrower 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 and other 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 are subject to changes / revision from time to time and the same will be updated on the website.
Edelweiss Financial Services Limited 2016

Edelweiss Retail Finance Limited (ERFL) | CIN: U67120MH1997PLC285490

The Company is having valid Certificate of Registration (CoR) No. B-13.02149 dated January 4,2017 issued by Reserve Bank of India (RBI) under Reserve Bank of India Act, 1934. However, RBI does not accept any responsibility or guarantee about the present position as to the financial soundness of Company or correctness of any of the statements or representation made or opinion expressed by the Company.

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