Business Loan Interest Rates
Risk related rate of Interest
- The interest rate charged to the customer is based on the customer profile, credit bureau score, property type, market competition offerings, etc.
- The interest rate applicable will vary from time to time and will be mentioned against the specific operative schemes/loan products.
Mode of Calculation
- The interest rate will be quoted on an annualized basis only.
- Compounding, if any, will be provided in specific loan schemes.
Penal Charges
- 1.5% per month on overdue amount for actual days of due.
- Cheque bounce charges
Rs.300/- (for first instance)
Rs.400/- (for second instance)
Rs.500/- (from third instance onwards)
Bounce charges will be added along with the next instalment. Bounce charges include GST
| Customized Interest Rates | 12.5 to 22% |
| Processing Fees | Minimum 1% + Applicable tax |
| Loan Tenure | up to 15 years |
| Pre/ Part Payment Charges | Part prepayment up to 25% of the Loan Amount can be made in a Financial Year. Part prepayment in excess of this limit will be subject to pre-payment charge of 2% of the loan amount prepaid plus Applicable Taxes |
| Fore-Closure Charge | 2% of Principal Outstanding +Applicable Taxes (only after payment of 3 EMIs) |
| Loan Amount | ₹ 100,000 – ₹ 50 lakh |
| Instalments | Flexible Monthly |