Schedule
SCHEDULE OF CHARGES
| Products/Type of charges | LAS | TWO WHEELER | FOUR WHEELER | PERSONAL LOAN | HOME LOAN |
|---|---|---|---|---|---|
| EMI Bounce charges per presentation | 500 | 400 | 400 | 400 | 400 |
| Late payment/Penal charges/ Default interest/Overdue (per month) | Upto 4% over the agreed rate of interest | 3% per month of the unpaid EMI | 3% per month of the unpaid EMI | 3% of the unpaid EMI | 3% per month of the unpaid EMI |
| Cheque Swap charges (per swap) | 500 | 500 | 500 | 500 | |
| Cancellation & Rebooking charges | Rs. 1000 | 1000 towards Cancellation + Additional Interest charges from date of disbursal till receipt of cancellation. Cancellation to be received within 30 days or 1st EMI presentation date whichever is earlier. Post which it will be treated as foreclosure. | 10000 within 30 days of disbursement or 1st EMI presentation whichever is earlier. Post 30 days or 1st EMI presentation request for cancellation will be treated as foreclosure | 10000 within 30 days of disbursement or 1st EMI presentation whichever is earlier. Post 30 days or 1st EMI presentation request for cancellation will be treated as foreclosure | 1% of the loan amount + interest from date of disbursal till receipt of cancellation request or 30 days whichever is lesser |
| Foreclosure / Prepayment charges* | Up to Rs. 1,000/- in case the facility is taken over by another bank during the tenor of the loan Loans prepaid from own sources will not attract prepayment penalty | 5% of principle outstanding amount | 5% of principle outstanding amount | 5% of principle outstanding amount | 0% for Floating rate loans - For Individual Personal Use only; 5% of Principle Outstanding for other floating rate loans; 5% of Principle Outstanding For Fixed Rate Loans |
| Loan re scheduling charges (per re scheduling) | NA | NA | NA | NA | 300 |
| Duplicate NOC Issuance Charges# | Rs.500 | 500 | 500 Special NOC charges 500 Commercial NOC - 2250 Inter-State NOC Refundable Security Deposit (non-interest bearing) of Rs. 5,000 will be taken. It will be the borrower's responsibility to provide the transferred Registration Certificate to the bank. In addition, NOC charge would be Rs. 500 | 500 | 500 |
| Physical Repayment Schedule# | 500 | 500 | 500 | 500 | 500 |
| Physical Statement of Account# | 500 | 500 | 500 | 500 | 500 |
| Document retrieval charges (per retrieval)# | 500 | 500 | 500 | 500 | 500 |
| Stamping Charges | As per actuals | As per actuals | As per actuals | As per actuals | As per actuals |
| Processing fees | Upto 2% of the loan amount | Up to 300 rupees of the total amount | Up to 3.5% of the total amount | Up to 300 rupees of the total loan amount | Up to 3% of Loan Amount |
| Part Payment charges | Part Payment is not allowed | Part Payment is not allowed | Part Payment is not allowed. For Smart Personal Loan product-NIL charges for part prepayment up to 40% of loan amount in a financial year, allowed after 3rd EMI | 0% if part payment is up to 25% in a financial year; 5% of Principle Outstanding If Part Payment exceeds 25% in a financial year |
|
| Initial Money Deposit Charges | NA | NA | NA | NA | NA |
| EMI Pick up/ Collection Charges | 350 | 350 | 350 | 350 | 350 |
| Security Post Dated Cheque Waiver | 500 | ||||
| Legal/Collections/ Repossession & Incidental Charges | As per actuals | As per actuals |
Please note:
1. First Presentation will be done on the EMI due date each month. Please ensure your account is funded with sufficient funds by a day prior to the due date to avoid levy of charges.
2. If the EMI for the month bounces and payment against the same is not received in the same month, late payment charges will be applicable.These will be charged every month on a recurring basis till the payment is received.
3. Non-payment of any of the charges levied will be reported to the Credit information company (including CIBIL) and will affect the credit score.
4. * incase a company, firm, etc. is a part of the loan structure; foreclosure charges/ penalty/levy can be levied as stated in the sanction conditions will be applicable.
5. Schedule of charges are subject to change as per Bank’s discretion from time to time. The Bank reserves the right to introduce any new charges or fees, as it may deem appropriate. Please visit ifsl.co.in to view the updated loan charges.