Rate Matrix

Product Rates
New Commercial Vehicles Upto 22%
Used Commercial Vehicles Upto 28%
New Construction Equipment Upto 22%
Used Construction Equipment Upto 25%
New Cars Upto 20%
Used Cars Upto 28%

* Interest rate will vary based on the credit profile (CIBIL, fleet, repayment history, financials, cash flow, collaterals if any, asset make/ model etc.).

Schedule of Charges

Sl. No Details Charges
1 Cheque Collection Charges As may be levied by banker
2 Non-Post Dated / Non ECS Collection Charges Rs 9000/= to be paid upfront
3 Cheque / ECS Dishonouring charges As levied by lender’s banker subject to a minimum of Rs. 750 for each dishonor
4 Assignment  
Documentation Charges Rs. 2000
Processing Fee for assignment 1% of amount outstanding at the time of assignment
5 Repossession  
In the case of repossession of assets, besides actual expenses incurred for repossession / seizure of assets which includes the amount paid / payable to the repossession agent: Actuals subject to a minimum as stated below
  • Stoppage Charges (per occasion)
Cars
  • Rs. 750
Light Commercial Vehicles
  • Rs. 750
3 wheelers
  • Rs. 300
Heavy Commercial Vehicles
  • Rs 1000
Machinery
  • Rs 3000
Repossession Charges (per occasion)
Cars
  • Rs. 3000 Plus Actuals
Light Commercial Vehicles
  • Rs. 1000 Plus Actuals
3 wheelers
  • Rs. 1000 Plus Actuals
Heavy Commercial Vehicles
  • Rs 3000 Plus Actuals
Machinery
  • Rs 3000 Plus Actuals
Parking Charges (Per Day) Actuals subject to a minimum as stated below
Cars
  • Rs. 120
Light Commercial Vehicles
  • Rs. 125
2/ 3 wheelers
  • Rs. 100
Heavy Commercial Vehicles
  • Rs 150
Machinery
  • Actuals subject to minimum
of Rs 200
6 Cash Collection Charges – where 2 dues or entire outstanding in arrears Rs. 350/- per instance
7 Charges for issuing duplicate Termination Papers Rs. 1000/-
8 Cash handling charges Rs. 250/- per installment
9 Rescheduling charges for altering & rescheduling the instalments at the request of the borrower Rs. 2000/-
10 Charges for furnishing Statement of Accounts (2ndtime) Rs. 250/- per statement
11 Charges for issuing No Objection Letter / Certificate to RTO for Permit Renewal and Re-registration Rs. 1000/-
12 Charges for swapping of cheque (per occasion) Rs. 500/-
13 Charges for amending the terms of agreement at borrower’s request (per occasion) Rs. 2500/-
14 Charges for issuing copy of invoice at borrower’s request Nil at Present
15 Charges for transferring the registration certificate in borrower’s name and also for incorporating hypothecation / hire purchase endorsement in the registration certificate in respect of pre-owned transaction Actual expenses
16 Pre-Closure Charges  
Pre-Closure up to 6 Months  Not Permitted up to six months
From 7thMonth to 12Months 6% on the outstanding Principal
+ Applicable GST
From 13thMonths to end of the tenure 4% on the outstanding Principal + Applicable GST
17 Service Charges Up to 5 % + Applicable GST on the financing amount
18 Document Charges  Up to Rs 3000/- + Applicable GST at Present 
19 Stamping / Notary charges Actuals as applicable in different states.
20 Rate of Additional Hire Charges Rs 40 per thousand or part thereof per month on outstanding balance

SARFAESI

As per the guidance issued by RBI wide circular No. RBI/2023-24/63 DoR.FIN.REC.41/20.16.003/2023-24, dt 25-09-2023 The details of Assets possessed under Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 is as under
Sl.NO Branch Name State Borrower Name Guarantor Name(Whenever applicable) Registered address of the Borrower Registered address of the Guarantor Name(Whenever applicable) Outstanding amount(in ₹) Asset Classification Date of Asset Classification Details of security possedded Name of the Title holder of the security possessed
Nill Nill Nill Nill Nill Nill Nill Nill Nill Nill Nill Nill