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Schedule of Charges

Interest Rates, Charges, Fees and Commission

Nature of ChargesDetails

Processing Fees

Up to 2% (plus applicable taxes) of the facility amount

Interest Rate

For secured facilities: Up to Repo Rate +6.0 %(Non PSL)
For facilities backed by CGTMSE: Up to Repo Rate + 7.10%

The interest rate for each loan is determined based on the assessment of business, financials, loan amount and tenure.

Stamp Duty and other statutory charges

As per applicable laws of the state

Commission on Letters of Credit and Bank Guarantee

Up to 2% p.a. commission shall be charged on pro-rata basis based on the tenure and the amount of non-fund based facility being availed

Commitment fees

Average Utilization <60% - 0.50% on the difference between the actual utilization and average quarterly utilization of 60%. - Charges will be levied on a quarterly basis. Applicable only for CC/OD facility

Foreclosure Charges

In the event of any prepayment, a prepayment premium of 4% shall be payable by the Borrower/s on the amount of limit set up in system. (Not applicable for customers classified under MSE)