Service Charges and Fees for Tractor Loans

Description of ChargesCharges applicable
Pre Payment Lower of the two options mentioned below:
1) 4% of principal outstanding or
2) Interest outstanding for unexpired period of loan
Processing fees Up to 4 %
Part Payment Nil *
Duplicate No Due Certificate / NOC* Rs 500 inclusive of Service Tax
Revalidation of NOC charges Rs 500 inclusive of Service Tax
Duplicate Amortisation Schedule Charges* Can be downloaded through Net Banking, Rs 200 from branch
Swapping charges for ECS/Cheque/SI Rs 500 inclusive of service tax
Stamp Duty At actuals
Late Payment Penalty 2% per month on unpaid installments
Legal, Repossession and Incidental charges Incidental charges are those expenses that are not budgeted or specified, but are incurred by the bank on behalf of the customer. At actuals
Loan Cancellation Charges In the event of cancellation, interest on cancellation to be paid by  customer, Rs. 1,000 along with processing fees
Cheque bounce charges Rs 250 inclusive of Service Tax
Statement of account Rs 200 from branch inclusive of Service Tax
Foreclosure statement charges Rs 100 from branch inclusive of Service Tax

 

Notes:

 

1) Service Tax and other Govt. taxes, levies etc. applicable as per prevailing rate may be charged over and above these charges at the discretion of ICICI Bank.

2) The charges or fees given above are subject to change and the one recorded in the agreement will be binding over the above

3) Effective for loans availed from August 10, 2009. For loan availed prior to the said date, the cheque return charges is Rs. 200

4) Interest Reset Clause: Applicable

 

Interest Rate Range for Tractor Loan

 

Type of credit facilityMaxMinMean
Tractor 19.22% 13.75% 16.08%

 

Notes:

 

1) The range of interest provided above is with respect to individual loans disbursed during Quarter II - FY: 2017

2) The rate of interest is also based on the quality of assests being funded and its resale value in the market

3) It excludes subsidy and government schemes

4) Mean rate - Sum of the rate of all loan accounts / Number of loan accounts

 

Annual Percentage Rate (APR) calculation

 

The Annual Percentage rate calculator is provided to compute annualised credit cost, which includes interest rate and processing fee.

The APR calculator does not include charges like stamp duty, Prepayment charges etc.

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

 

* Terms and Condition apply