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10% to 18% per annum is the floating rate of interest. This is linked to the FICCL (Fullerton India Credit Company Limited) retail prime lending rate which is currently at 19%.
These are our fees and charges for loan against securities to help you plan in great detail
Charge Type | Amount |
Processing Fees | Up to 3% of the Loan Amount |
Stamp Duty/Registration | At applicable rates (as per relevant State Laws) |
Pledge creation/release/invocation charges* | INR 50/- per security |
Liquidation Charges* | 0.25% of value of securities liquidated |
Cheque / ACH / ECS dishonoured Charges (per dishonour of cheque/ACH/ECS per presentation) | INR 1000/- |
Delayed EMI Payment/ Interest Payment( per month of delay, every month) | 2% per month on the outstanding balance which is overdue |
Under-utilization charges | 0.25% of the difference between actual average utilization maintained for half-year of each financial year and 25% of the average operating limit, subject to a minimum of INR 1,250/- chargeable on a half-yearly basis. |
Swap Charges- for replacement of ACH/ECS to ACH/ECS (per instance) | INR 500/- |
Swap Charges- for replacement of Post-dated cheques to ACH / ECS (per instance) | INR 500/- |
Prepayment charges** | Nil for Overdraft facility |
Annual Maintenance/Renewal Charges | INR 1000/- per crore of sanctioned facility amount, subject to a minimum of INR 1,000/- |
* Applicable for Securities in demat form
** For any other facility pre-payment would attract charges of an amount not exceeding 2% of the prepaid loan amount or such other amount as may be specified by FICCL in the sanction letter or otherwise from time to time