Interest Rates & Charges

Our Master Credit Policy has the factors affecting the risk grading/interest rate of the customers.

These factors also impact the pricing on loans.

A. Factors affecting Pricing for all products

• Loan Amount
• Loan Tenor
• Credit History
• Existing Relationship

B. Additional Factors affecting Pricing for each Product as listed below in the table

The Rate of Interest on your loan will be based on the parameters specified in the Interest Rate Policy of the Company, which is available on the website of the Company.

To view Fees & Charges for LAPCL product, Click here

• The above charges are inclusive of applicable taxes, wherever applicable
• p.m.^ = Per Month on Overdue EMI Amount/Interest Amount
• Sarfaesi Charges for LAP, EBL & LAPCL are Rs. 35,000/-, taken one time
• Processing fee is charged on Sanctioned Loan Amount.
• Illustration of Processing Fee & Delayed Installment Payment Charge for sample cases are given in annexure.
• SOA – SF Customer: Free for 1st request. Charges for subsequent request would be Rs. 200/- per request
• # Repossession charges varies from location to location depending on property, difficulty in repossession, borrower profile and other incidental charges
• Yard Parking charges are charged on per day basis
• Cash handling charges are charged on cash received from customer for repayment of EMI / Charges / Prepayment of loan
• Pre-payment charges do not apply to LAP/EBL loans granted to individual borrowers under a floating interest rate
• No pre-payment charges for Gold Loans with a repayment history of more than 18 months
• In addition to above, there is documentation charges applicable for all products under Vehicle loans. This charge is up to 3% of the sanctioned loan amount.
• For Micro Lending product there are only two charges. (i) 1.77% Processing fee on sanctioned loan amount (ii) Account validation charge up to Rs. 5/- per bank account number validation
• With effect from April 01, 2024, no additional component can be added to the rate of interest in the form of 'Penal Interest'. There shall not be any additional rate of interest / premium / default interest payable on default by the borrower w.e.f. April 01, 2024.
• The delayed instalment payment charge for loans sanctioned to 'individual borrowers, for purposes other than business', cannot be higher than such charges applicable to non-individual borrowers.
• Convenience Charge up to Rs. 1500/- across all products.

• Loan Against Property = LAP; EBL = Enterprise Business Loans; CDL = Consumer Durables Loans; DPL = Digital Product Loan; LSL = Life Style Loans, LAS = Loan Against Securities; CV = Commercial Vehicles; CEL = Commercial Equipments Loans; TW = Two Wheeler; LAPCL = Loan Against Property Credit Line; Txn= Transaction;
• For all value figures K - Thousand; P.A.=Per Annum; p.a.=per asset; p.b.= per bounce; p.s.=per swap; p.i.=per installment; p.l.=per loan; POS = Principal Outstanding

Click here for Prepayment Request Form

Taxes, as applicable, will be charged on prepayment charges