LOAN CHARGES - URBAN

All charges mentioned in the below table are in INR (₹).

The below charges will be applicable with effect from 4th November, 2019

Product Type Personal Loan Salaried Personal Loan Self Employed Two Wheeler Loan Loan against property/LRD SME Loan Commercial Vehicle Loan
Delayed EMI Payment Interest ( per month of delay, every month) As stated under additional interest charge* As stated under additional interest charge* 250 As stated under additional interest charge* As stated under additional interest charge* As stated under additional charges*
Cheque /ECS dishonoured Charges (per dishonour of cheque/ECS per presentation) 300 300 300 300 300 300
Swap Charges- for replacement of Post-dated cheques to ECS (per instance) 500 500 500 500 500 500
Loan Cancellation charges (loan cancelled before first EMI) 1000 1000 1000 5000 5000 Stamp Duty plus 1500 before encashment of the loan disbursement cheque. Else Loan prepayment charges apply.
Duplicate NOC/ NOC Revalidation NA NA 250 NA NA 250
Processing Fees Between 0% - 6% of the loan amount Up to 6.5% of the Loan Amount

1,000 for loan amount up to 30,000

1300 for Loan amount over & above 30,000

Up to 3% of the loan amount

Up to 3% of the loan amount Up to 2% of the loan amount
CERSAI charges NA NA NA

110 per collateral for Loan Amount up to 5 Lakhs and 210 per collateral for Loan Amount above 5 Lakhs

110 per collateral for Loan Amount up to 5 Lakhs and 210 per collateral for Loan Amount above 5 Lakhs

NA

*Additional Interest (applicable for payment defaults):

24% per annum on outstanding balance which is overdue, calculated on day to day basis

Rate of interest conversion fee - an amount not exceeding one (1) per cent of the loan amount sanctioned (SME loans / Loan against Property & LRD)

 

Loan Foreclosure Charges**

Foreclosure Charges Two Wheeler Loan Used Car Loans Loan against property/LRD SME Loan Commercial Vehicle Loan
0 to 6 EMIs fully paid Not Allowed Not Allowed Not Allowed Not Allowed 4.00%
7 to 12 EMIs fully paid 4.00% 4.00% Not Allowed Not Allowed 4.00%
13 to 24 EMIs fully paid 3.00% 3.00% 5.00% 4.00% 3.00%
25 to 60 EMIs fully paid 3.00% 3.00% 4.00% 3.00% 3.00%
60 or more EMIs fully paid     3.00% 3.00% 3.00%
No. of EMIs paid
(Excluding Pre-EMI)
Foreclosure charges for Personal Loan 
(Both Salaried & Self Employed)
Foreclosure charges for Business Loan 
(Unsecured)
0 to 17 EMI(s) fully paid  7% of the Principal Outstanding  7% of the Principal Outstanding
18 to 23 EMI(s) fully paid 5% of the Principal Outstanding 5% of the Principal Outstanding
24 to 35 EMI(s) fully paid 3% of the Principal Outstanding 3% of the Principal Outstanding
36 or more EMI(s) fully paid No Foreclosure Fee No Foreclosure Fee

Note: ** No Foreclosure Charges / Prepayment penalties will be applicable on any floating rate term loan sanctioned for purpose other than business to individual borrowers, with or without co-obligant(s)

Loans Against Property/LRD Part Pre-Payment Charges

  • Part Pre-payment will be allowed only once in a Financial Year after borrower has paid first 12 EMI fully to the satisfaction of FICCL
  • All the Pre-payments would attract charges as above

Home Purchase Loan(Home Loan):

No pre-payment charges shall be payable for partial or full pre-payments irrespective of the source.
Additional Interest( applicable for payment defaults )- An amount not exceeding (0.7) per cent per annum on the principal amounts outstanding under the loan payable from the relevant due date until the date of actual payment / rectification of default.

All charges mentioned above are exclusive of tax on services and the borrower shall be liable to pay tax on services as applicable. Fullerton India Credit Company Ltd ("FICCL") reserves the right to revise the above charges from time to time and any change in the rates/charges etc. would be displayed on the company website and intimated under "Loan Charges".

Any unbanked/unused cheques of the Borrower(S) as issued in favour of FICCL with regard to the loan and presently in custody of FICCL will be cancelled and/or destroyed immediately after closure of the loan either by way of maturity or prepayment of loan and/or otherwise without any further notice.

Please note that refunds towards any excess monies paid will only be applicable if the refund amount is greater than INR 250/-. Further, if the refund is required to be effected by means of a cheque, processing charges of INR 100 shall be payable.

All payments made towards your Loan account via cheque/DD, to be made payable to
'Fullerton India Credit Company Limited'.

LOAN CHARGES – RURAL (GRAMSHAKTI)

Documentation / Processing Fee

Product Processing fee %*
Solidarity Group Loans 1.5 -2.5%
Emergency Loan NA
Garima loan / Affinidi Loan 2%
Merchandise Loan NA
Consumer Durable Loan NA
SSL 1-4%
TW & Raftaar 0 - 5%
Default Rate : 3%
GEL/GEL Plus/Smart GEL 3%
Samriddhi Loan / PL-LITE Loan 3%
Mortgage  2% or Rs.15,000/-  (whichever is lower)
High Ticket Size LAP 1% or Rs.20,000/-  (whichever is higher)

*Includes stamp duty charges for all non-mortgage products wherever applicable.

Foreclosure charges

Product Foreclosure charges
Solidarity Group Loans NIL
Emergency Loan Same as Solidarity Group Loans
Garima Loan/Affinidi Loan >180 days - 4%
Merchandise Loan NIL
SSL Up to 180 days - 5%
>180 days – 2%
Consumer Durable Loan >90 days- 3%
TW** >180 days - 3%
Raftaar Loan** >180 days - 3%
CV >365 days - 3%
3W >365 days - 3%
GEL# >180 days - 5%
SmartGEL # >180 days - 5%
GEL Plus # >180 days - 5%
Samriddhi Loan/PL-LITE Loan >180 days - 5%
Hypothecation >365 days - 5%
Mortgage /High Ticket Size LAP

1. No part pre-payment of the Loan shall be allowed until the Borrower has paid the first six (6) EMIs fully.

2. No part-prepayment charges shall be applicable for part pre-payment upto a maximum of 25% of the outstanding Loan amounts once in a given financial year.

3. In case of part pre-payment of the Loan after payment of first six (6) EMIs but before payment of first twelve (12) EMIs, prepayment charges at the rate of 4% of the Principal loan amount outstanding on the date of prepayment;

4. Any part pre-payment in excess of twenty five (25) percent of the outstanding Loan amounts or a full prepayment of the loan shall attract prepayment charges as follows:

  1. After payment of first twelve (12) EMIs & till payment of first twenty four (24) EMIs: 4% of the Principal loan amount outstanding on the date of prepayment;
     
  2. After payment of first twenty four (24) EMIs & till payment of first sixty (60) EMIs: 3% of the Principal loan amount outstanding on the date prepayment;
     
  3. After payment of first sixty (60) EMIs & till payment of first eighty four (84) EMIs: 2% of the Principal loan amount outstanding on the date prepayment;
     
  4. NIL charges post payment of the first eighty four (84) EMI’s. or such other amount as may be specified FICCL from time to time.
   

**Foreclosure not allowed before 180 days; however if loan foreclosure is granted for a case 180 days under any circumstances then a foreclosure charge of 3% applicable will be applicable for TW/Raftaar (as per Fullerton India’s policy & procedures).

#Foreclosure not allowed before 180 days. However, in case of loan foreclosure within 180 days under any circumstances for a case, then a foreclosure charge of 5% will be applicable.

Late payment penalty, Bounce Cheque charges

The below charges will be applicable with effect from 4th November, 2019

Product Penal Interest / Additional Interest~ Bounce Charges
Solidarity Group Loans & Solidarity Group Loans Plus NIL NIL
Garima Loan/Affinidi Loan 37%* NIL
Merchandise Loan NIL NIL
SSL 30%* INR 300
Consumer Durable Loan NIL NIL
TW 30%* INR 300
Raftaar loan 30%* INR 300
GEL 37%* INR 300
GEL Plus 37%* INR 300
Smart GEL 37%* INR 300
Samriddhi Loan/PL-LITE Loan 37%* INR 300
Mortgage /High Ticket Size LAP 25%* INR 300

*Variable charge on overdue EMI amount at annualized rate.

Note:
(a) All penal and bounce charges mentioned above are exclusive of applicable taxes.
(b) Penal interest / Additional Interest recognized on cash basis.

*On overdue EMI.