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Service Charges and Fees for Tractor Loans


Nature of Charges Description of Charges Charges applicable
Service Charges Processing fees (non refundable) Upto 3% + applicable GST
Stamp Duty As per State Stamp Duty Act + convenience fee at actuals (if provided by Bank)
Duplicate No Due Certificate / NOC* ₹ 250 + applicable GST
Revalidation of NOC charges ₹ 250 + applicable GST
Duplicate Amortisation Schedule Charges*

₹ 150 + applicable GST for physical report

Nil for digital report

Swapping charges for ECS/Cheque/SI ₹ 500 + applicable GST
Statement of account ₹ 200 + applicable GST
Foreclosure statement charges ₹ 100 + applicable GST
Loan Documentation charges ₹ 2000 + applicable GST
Cash transaction charge for repayment of EMI dues at Branches ₹ 100 + applicable GST
Penal Charges Part Payment Nil *
Late Payment Penalty 2% per month on unpaid installments
Loan Cancellation Charges

In the event of cancellation:

i) Cancellation charges ₹ 1,000 + applicable GST

iI) Interest on cancellation to be paid by  customer

iii) Processing fees + applicable GST (which is already collected).

Cheque bounce charges ₹ 500 + applicable GST
Pre Payment Lower of the two options mentioned below + applicable GST
1) 4% of principal outstanding or
2) Interest outstanding for unexpired period of loan
Loan related recovery charges (If applicable) 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
Charges incurred in SARFAESI proceedings At actuals
Paper advertisement charges At actuals
Professional charges At actuals
Yard charges At actuals
Charges incurred in sending different notices At actuals
Overdue Handling Charges (delinquent accounts) At actuals



1) GST 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 ₹ 200

4) Interest Reset Clause: Applicable


Interest rate range Q2 Oct' 2023 To Dec' 2023

Type of credit facility Max Min Mean
Tractor 22.3 % 12.0 % 15.5 %



1)These rates has considered based on funding of FY23 YTD December 2023.

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.


FARM EQUIPMENT- Inventory Funding


The loan is extended to tractor dealers for better working capital management and managing seasonal demand. Basis the customised needs, three variants are designed- Inventory Funding, Trade Advance and Corporate Linked Flexi Finance (CLFF) offering competitive product features.


Service charges for FE-Inventory Funding.

Nature of Charge Description Details Inventory Funding Trade Advance CLFF
Penal Charges Penal Interest Levied on current outstanding amount 6% p.a.
Service Charges Processing Fee Levied on sanction limit Up to 1.0% + GST as applicable
Audit Fee Frequency For limit less than or equal to 1 crore: Quarterly NA Half Yearly
For limit greater than 1 crore: Monthly
Amount ₹ 2500 + GST as applicable ₹ 2500 + GST as applicable


* Terms and Condition apply