FEATURES

FEES & CHARGES


Description of charges

Commercial/Construction Equipment Finance

Cheque bouncing charges

Rs. 550/- per instance

Premature Closure charges*

4 % of POS (Principle Outstanding) for preclosures N
within 1 year from 1st EMI
2% of POS (Principle Outstanding) for preclosures
after 1 year from 1st EMI
^ As per BCSBI guidelines, for borrowers classified
as Micro and Small Enterprises (MSE) NIL
Premature Closure Charges will be applicable for
all floating rate loans and for Fixed rate loan facility
up to Rs. 50 Lakh, closure to be from Own funds.
For MSE customers, 2% takeover charges will be
applicable in case of takeover of the loan by
another Bank / Financier. Bank reserves the right
to enquire or ask the documentary proof of

Stamp Duty

At actual

Delayed instalment payment charge

1.5% per month (18% p.a) on overdue istalment amount

Processing fees

New/Used Loans: Upto 1.5% of the loan amount

Asset verification charges

At Actual

Loan Cancellation charges

In the event of cancellation of loan, interest
charges from disbursement date till refund of
disbursement amount will be borne by the
customer. Processing Fee, Stamp Duty are nonrefundable
charges and would not be
waived/refunded in case of loan cancellation.

Legal/Collection/Repossession and Incidental charges

At Actual

Service/Documentation charges

upto 1.5% of the Loan amount

Issuance of Duplicate NOC and Special NOC Charges

Rs 500/- wil be charged for Physical copy

Cheque Swap Charges

Rs.500/- per transaction

Repayment Schedule Charges

Rs. 200/- per schedule

Rebooking Charges 

1000/-


Bank IRR & Annual Percent Rate(APR) offered for loans extended to individual customers - Quarter ended Jan to Mar 2024

Product

Bank IRR

APR

Min

Max

Avg

Min

Max

Avg

COMMERCIAL EQUIPMENT LOAN

8.60%

15.56%

9.88%

8.60%

15.56%

9.88%

Property Document Retention Charges @ Rs 1,000 + Taxes per calendar month, after 2 calendar months from the date of closure of all loans/facilities linked to the collateral.

Any payment above Rs. 49000/- should be made vide Account payee Cheque / Pay order /Demand draft.

* NIL foreclosure charges / pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect. Service Tax is also applicable over and above the regular charges.

Where borrower is Micro and Small Enterprises, no prepayment penalty on prepayment of floating rateloans will be charged irrespective of the reference rate used for floating rate loan and irrespective of source of funds (own source of funds or balance transfer from another Bank)

Above charges are exclusive of Government Charges/Taxes and Charges/Taxes will be charged extra

Where can I get a Commercial/Construction Equipment Loan?

Here is the List of PhoneBanking Location or Write to Praveen Nair on Praveen.nair2@hdfcbank.com or Call on 022 33958076

DOCUMENTATION