ServiceDescriptionCharges ( Rs. )
Late Payment ChargesCharged in case EMIs are not paid on time, as outlined in the loan agreement.As per agreement terms and as per the RBI guidelines for the same.
Cheque/ECS Dishonoured ChargesCharged per dishonour of cheque/ECS per presentation.Up to 1000
Swap ChargesFor replacement of Post-dated cheques to ECS (per instance).Up to 500
Loan Cancellation ChargesIf the loan is cancelled before the first EMI.Up to 1000
Processing FeesCharged on the loan amount.Between 0% – 8% of the loan amount
CERSAI ChargesRegistry and central database management.NA
Duplicate NOC/ NOC RevalidationIssuance of duplicate or revalidation of NOC.NA

We are an NBFC and as per the  RBI guidelines vide its circular RBI/2023-24/53 DoR.MCS.REC.28/01.01.001/2023-24 “Fair Lending Practice – Penal Charges in Loan Accounts”, additional interest/ late payment charges shall be renamed as “Late Payment Charges” effective April 1, 2024. Consequent to this change, Goods and Services Tax (GST) shall be applicable on Late Payment Charges.

Cooling off/look-up period: A cooling off/ look-up period is the time window which shall be given to borrowers for exiting  loans, in case a borrower decides not to continue with the loan acceptance.

Foreclosure charges shall be as per the signed loan agreement.

For all application service charges for your loan case, please refer and go through our Loan Agreement that we share with you.