Check Fees & Charges on Construction Equipment Loan

Type of charge	Charges
Interest Rate	Min : Prevailing MCLR Or Reference Rate
Interest Rate	Max : 24%
Loan Processing Charges	Upto 3% of Loan amount
Documentation Charges	Upto ₹5,000
Stamping Charges	At Actuals
Credit Administration Charges	Upto ₹6,000
Loan Cancellation Charges	₹2,500 per agreement
Penal Charges	Amounts standing unpaid on respective due dates shall attract penal charge at 8% per annum (to be charged for actual no. of days) on overdue amount plus applicable taxes.
Dishonour Charges Per Instance	₹750
Swap Charges( Replacement of PDCs)	₹500 per Swap per Instance
Changes in Installment Amount/ Tenor	₹1,000
Prepayment charges for Individual - Floating rate of interest (irrespective of Purpose of Loan)	Nil
Prepayment charges for Individual - Fixed rate of interest	4% pre-payment charges are applicable on the amount being Prepaid in case of non-revolving loans/facilities and on an amount not exceeding the sanctioned limit in case of revolving loans/facilities at the time of closure before the due date
Prepayment charges for MSE - Floating rate of interest	Nil
Prepayment charges for MSE - Fixed rate of interest	No prepayment charges shall be applicable to MSE (Micro and Small Enterprise) in case of closure of fixed rate loans up to sanctioned limit of ₹50.00 lakh.
Prepayment charges for MSE - Fixed rate of interest	2% pre-payment charges are applicable on the amount being Prepaid in case of non-revolving loans/facilities and on an amount not exceeding the sanctioned limit in case of revolving loans/facilities at the time of closure before the due date
Prepayment charges for Medium - Fixed & Floating rate of interest (Non-Individual)	4% pre-payment charges are applicable on the amount being Prepaid in case of non-revolving loans/facilities and on an amount not exceeding the sanctioned limit in case of revolving loans/facilities at the time of closure before the due date
Prepayment charges for Others - Fixed & Floating rate of interest (Non individual borrowers, Companies etc)	4% pre-payment charges are applicable on the amount being Prepaid in case of non-revolving loans/facilities and on an amount not exceeding the sanctioned limit in case of revolving loans/facilities at the time of closure before the due date
Duplicate Issue of NOC	₹500
Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)	₹500
Valuation Charges	Upto ₹5,000
Duplicate Foreclosure Statement Charges	₹500
Rebooking of Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.)	₹2,500
Assignment	1% of O/s Principal
Payment Handling Charges	₹1,000
Repossession Charges	At Actuals
Asset Verification Charges - Immovable Assets	At Actuals
Legal / Incidental Charges	At Actuals
All charges are exclusive of GST, GST to be collected as applicable
All charges are applicable per agreement/apac
For priority sector loans up to ₹50,000, loan related charges (including guarantee fees of credit guarantee schemes) and ad hoc service charges/inspection charges are not applicable. In the case of eligible priority sector loans to SHGs/JLGs, this limit is applicable per member and not to the group as a whole.

Construction Equipment Loan

Ready to take the next step?

Related Products

Dealer Finance

Crop Loan

Related Products

Farm Equipment

Strategic Business Loan

Loan Against Property

What is GST? Definition, Types & How it is Calculated