Construction Equipment Loan Service Charges & Fees

Description of ChargesCharges Amount

Non Refundable Loan Processing Fees

Up to 2.00% of loan amount

Documentation Charges

₹ 350

CIBIL Report Charges

₹ 50

Stamp Duty


Part Prepayment Option

Part prepayment of the loan is not allowed

Full Prepayment Charges

4% on principal outstanding or interest outstanding for unexpired period of loan (whichever is lower)

Charges for late payment of loans

2% per month on the outstanding installment

Swap Charges

₹ 500 per transaction

Bounce Charges

₹ 500 per transaction

Amortisation Schedule Charges

₹ 500 per schedule

Statement of Account Charges

₹ 500 per statement

Prepayment Statement Charges

₹ 100 per statement

Duplicate No Objection Certificate (NOC)/No Due Certificate (NDC) Charges

₹ 500 per NOC/NDC

Revalidation of NOC Charges

₹ 500 per NOC

Loan Cancellation Charges

₹ 3,000 per loan

Loan Reschedulement / Rebooking Charges

₹ 2,500 per loan

Miscellaneous charges viz. charges incurred in filing legal suit, repossession charges, Non Maintenance of Mode of Payment (NMMP) charge, pick-up charges) wherein customer requests for a pickup of the payment, professional charges for availing services of professionals i.e. title search, valuation, etc., charges incurred in SARFAESI proceedings, paper advertisement charges, auction charges for repossessed asset, security guard charges for protection of repossessed assets, yard charges for parking the repossessed asset in authorised yard, enforcement charges for availing logistical support during repossession, charges incurred in sending different notices, charges levied for deposition of cheque in branches for the purpose of paying loan dues and any other charges (as applicable) that are not budgeted or specified, but are incurred by the bank on behalf of the customer.

At actuals

Cash transaction charge for repayment of EMI dues at Branches

₹ 100


  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 March 31, 2016.
  5. Stamp duty charges shall be extra as applicable
  6. Additional documentation charges of Rs.350/- applicable
  7. 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 September 2021MinimumMaximumMean
Construction Equipment Loan 7.50% 16.28% 10.22%


  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 2- 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.