Construction Equipment Loan Service Charges & Fees

Description of ChargesCharges Amount

Duplicate Repayment/Amortization schedule charges

500

Statement of Account charges

500

Prepayment statement charges

₹100

Duplicate No objection certificate / No due certificate charges

500

Revalidation of No objection certificate charges

500

No objection certificate for conversion from Petrol to LPG/CNG charges

500

Prepayment charges

4% on the Principal outstanding of eligible customers

Charge for late payment of loan

2% per month

Swap charges

500

Bounce Charges

500

Loan processing fee (LPF)

Up to 2.00% of loan amount

Loan documentation charges

550

Loan processing fee (LPF)

Up to 2.00% of loan amount

Registration Certificate (RC) Collection Fees

₹400

Loan Cancellation Charges

₹3000

Loan Reschedulement / rebooking charges

₹2500

CERSAI Charges

₹100

CIBIL Report Charges

₹50

Information Utility Charges (Only for Corporate Cases)

₹300

Cash Transaction Charges (for repayment of EMI dues in cash at branches)

₹100


Notes

  1. Service Tax (ST), Other Government taxes, Levies, etc., will be applicable as per prevailing rates in addition to the above mentioned charges.
  2. The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over the site.
  3. Interest Reset clause: Not Applicable.
  4. The above mentioned charges would be applicable for existing customers from November 23, 2021.
  5. Stamp duty charges shall be extra as applicable
  6. ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion

For more information, please visit the nearest ICICI Bank branch or call our Customer Care.

Range of Interest rates for Construction Equipment Loans

Quarter ended at December - 2021MinimumMaximumMean
Construction Equipment Loan 7.25% 17.14% 10.05%

 

  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 3 - FY: 2021-22.
  • It includes fixed rate of interest and is based on factors such as customer relationship, vehicle segment and tenure of loan etc.
  • Interest rate for used vehicle loan is based on age and segment of vehicle, tenure of loan and product variant like top up, refinance etc.
  • It excludes subsidy and government schemes.
  • Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.

Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.

 

To calculate the same, please click here to download the APR calculator.