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* | |
| Collection of Cheque/Cash (per collection) | 300 | 300 | 300 | NA | NA | NA | |
| 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): 2% of the overdue EMI per month calculated on a daily 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)
|
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| Foreclosure Charges | Personal Loan Salaried | Personal Loan Self Employed |
|---|---|---|
| 0 to 6 EMIs fully paid | Not Allowed | Not Allowed |
| 7 to 17 EMIs fully paid | 7% | 7% |
| 18 to 23 EMIs fully paid | 5% | 5% |
| 24 to 35 EMIs fully paid | 3% | 3% |
| 36 or more EMIs fully paid | 0 | 0 |
Note: **Foreclosure charges/ pre-payment penalties shall not be charged on all floating rate term loans sanctioned to individual borrowers
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'.
Card fee for new Customer / Documentation / Processing Fee
| Product | Processing fee % |
|---|---|
| SG | 1.5 -2.5% |
| Emergency Loan | NIL |
| Merchandise Loan | NIL |
| Consumer Durable Loan | NIL |
| TW | 5% |
| GEL | 3% |
| CV | 2.5% or 5000/- (whichever is lesser) |
| 3W | 2.5% or 3000/- (whichever is lesser) |
| Hypothecation | 2.5% or 6000/- (whichever is lesser) |
| LAP | 2% or 15,000/- (whichever is lesser) |
| Home Loan | |
| MSME | 1% or 20,000/- (whichever is higher) |
| Garima Loan | 2% |
*Includes stamp duty charges for all non-mortgage products wherever applicable.
| Product | Foreclosure charges | ||
|---|---|---|---|
| SG |
|
||
| Emergency Loan |
|
||
| Merchandise Loan | NIL | ||
| Consumer Durable Loan | >90 days- 3% | ||
| TW | >180 days - 3% | ||
| CV |
|
||
| 3W |
|
||
| GEL | >180 days - 5% | ||
| Hypothecation | >365 days - 5% | ||
| LAP** | 5% |
||
| Home loan** | |||
| MSME** | |||
| Garima Loan | Foreclosure not allowed up to 6 months from the loan disbursal date. Post 6 months – 4% |
**Foreclosure Charges - Nil for Floating Rate of Interest.
The below charges will be applicable with effect from 4th November, 2019
| Product | Cheque Bounce Charges (Rs) | Penalty charges* | ||
|---|---|---|---|---|
| SG | 25 |
|
||
| Emergency Loan | NIL | NIL | ||
| Merchandise Loan | NIL | NIL | ||
| Consumer Durable Loan | NIL | NIL | ||
| TW | 300 | 30%* | ||
| CV | 300 | 22-27%* | ||
| 3W | 300 | 22-27%* | ||
| GEL | 300 | 37%* | ||
| Hypothecation | 300 | 30%* | ||
| LAP | 300 | 25%* | ||
| Home Loan | 300 | 25%* | ||
| MSME | 300 | 25%* | ||
| Garima Loan | 300 | 37% |
Note: All penal charges mentioned include tax on services.
*On overdue EMI.
Here’s a table of Fees and Charges related to Hypothecation Loans to help you understand the same in detail,
|
Type of Fees |
Charges Applicable |
|
Delayed EMI Payment Interest ( per month of delay, every month) |
As stated under additional interest charge* |
|
Cheque /ECS dishonoured Charges (per dishonour of cheque/ECS per presentation) |
30 |
|
Swap Charges- for replacement of Post-dated cheques to ECS (per instance) |
500 |
|
Swap Charges- for replacement of ECS to ECS (per instance) |
500 |
|
Loan Cancellation charges (loan cancelled before first EMI) |
5000 |
|
Processing Fees |
An amount not exceeding Three (3) per cent of the Loan Amount sanctioned |
|
CERSAI charges |
For loan amount less than/equal to 5 Lacs, deduction will be 110/- per collateral |
*Additional Interest (applicable for payment defaults):
on the Principal amounts outstanding under the Loan payable from the relevant due date until the date of actual payment / rectification of default.
**Additional Interest (applicable for payment defaults) 0.75% per month on the outstanding principal loan amount (for both salaried and self-employed Personal Loans).
***Additional Interest (applicable for payment defaults) An amount not exceeding zero point five(0.5) 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.
Rate of interest conversion fee - an amount not exceeding one (1) per cent of the loan amount sanctioned ( Loan Against Property/LRD)
|
Within 6 months from the Agreement Date |
5.00% |
|
Within 7 months to 12 months from the Agreement Date |
5.00% |
|
Within 13 months to 24 months from the Agreement Date |
5.00% |
|
Within 25 months to 60 months from the Agreement Date |
4.00% |
|
Within 61 months to 84 months from the Agreement Date |
3.00% |
|
After 84 months from the Agreement Date |
3.00% |
Loans Against Property/LRD Part Pre-Payment Charges
To avoid late payment charges, you can make your EMI online by visiting our payment page.
