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Service Charges and Fees for Tractor Loans


Nature of Charges Description of Charges Charges applicable
Service Charges Loan processing charges (non-refundable) Up to 2% + applicable GST
Stamp duty charges At actuals as per the State Stamp Duty Act, applicable for the State
Loan Cancellation Charges

1.Digital lending:

Nil if the loan is cancelled within the free look/ cooling off period.

If the loan is cancelled post the cooling off period & before the 1st EMI date (i.e. from 16th day till the 1st EMI date) – Rs 2,500 + applicable GST

2. Physical lending - Rs 2,500 + applicable GST
Prepayment/ Foreclosure charges Lower of the two options mentioned below + applicable GST
a) 4% of principal outstanding or
b) Interest outstanding for unexpired period of loan
Duplicate No Objection Certificate /No Due Certificate charges Rs. 250 + applicable GST
Revalidation of No Objection Certificate (NOC) charges Rs. 250 + applicable GST
Amortisation Schedule charges Rs 200 + applicable GST  for physical report
Nil for digital report
Repayment mode swap charges Rs. 500 + applicable GST
Statement of Account charges Rs 200 + applicable GST for physical report at the Branch
Prepayment or Foreclosure Statement charges Rs 200 + applicable GST for physical report at the Branch
Loan documentation and collection of RC charges Rs 2,000 + applicable GST
Cash transaction charges (for repayment of EMI dues in cash at the branches) Nil
Penal Charges Penal Charge for late payment 5% per annum will be charged on the overdue EMI until repayment, plus applicable taxes which may be payable as per the applicable laws and Terms and Conditions.
Penal Charge for dishonour of Cheque/AD/ECS/NACH per transaction Rs 500 per instance of bounce/return/dishonour of Cheques and/or any payment instructions including AD/ECS/NACH/E-mandate
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)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.

Interest rate range Q4 Jan' 2024 To Mar' 2024

Type of credit facility Max Min Mean
Tractor 22.30% 12.50% 15.60%

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



Channel Finance

Penal Charges

Penal Charges

Levied on current Overdue amount

2% p.a.+ GST as applicable

Service Charges

Processing Fee

Levied on sanction limit

Up to 1.0% + GST as applicable

Audit Fee


₹ 2500 + GST wherever applicable

* Terms and Condition apply