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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 |
Up to 5% of the loan amount |
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)
|
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Loan Foreclosure Charges**
|
| 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 |
| Affinidi Loan | 2% |
| Merchandise Loan | NA |
| TW | 0 - 5% Default Rate : 3% |
| GEL | 3% |
| PL-LITE Loan | 3% |
| Mortgage | 2% |
| High Ticket Size LAP | 1.25% |
*% of Gross Loan Amount.
Foreclosure charges
| Product | Foreclosure Charges (Including GST) |
|---|---|
| Solidarity Group Loans | NIL |
| Emergency Loan | NIL |
| Garima 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% |
| CV | >365 days - 3% |
| 3W | >365 days - 3% |
| GEL# | NIL |
| PL-LITE Loan | NIL |
| Samriddhi Loan | >180 days - 5% |
| Hypothecation | >365 days - 5% |
| MSME | As per the below grid |
| Mortgage /High Ticket Size LAP |
1. No part pre-payment of the Loan shall be allowed until the Borrower has paid the six (6) EMIs fully. 2. No part-prepayment shall be applicable for pre-payment upto a maximum of 25% of the outstanding Loan amounts 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 outstanding loan amount is to be charged; 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:
|
**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 for TW/Raftaar (as per Fullerton India’s policy & procedures).
#For old GEL loans booked prior to Jun 2022, for foreclosures within 180 days the charges applicable will be 3% basis approvals.
Late payment penalty and Bounce charges
| Product | Penal Interest / Additional Interest | Bounce Charges |
|---|---|---|
| Solidarity Group Loans (SG and Smart SG Loans) | INR 20~ | NIL |
| Affinidi Loan | 37%* | INR 300 |
| Merchandise Loan | NIL | NIL |
| SSL | 30%* | INR 300 |
| Consumer Durable Loan | NIL | NIL |
| TW | 30%* | INR 300 |
| MSME | 25%* | INR 300 |
| CV | 25%* | INR 300 |
| 3W | 25%* | INR 300 |
| GEL | 37%* | INR 300 |
| GEL Hypothecation | 25%* | INR 300 |
| PL-LITE Loan | 37%* | INR 300 |
| Samriddhi Loan | 37%* | INR 300 |
| Mortgage | 25%* | INR 300 |
| High Ticket Size LAP | 25%* | INR 300 |
*Variable charge on overdue EMI amount at annualized rate.
~Will be charged on per overdue installments.
Note:
(a) All bounce charges mentioned above are exclusive of applicable taxes.
(b) Penal interest / Additional Interest recognized on cash basis.
