LOAN CHARGES - URBAN
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 |
Up to 6.5% 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)
|
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% |
|
| 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
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)
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.
Foreclosure charges
| Product |
Foreclosure charges |
| SG |
| Up to 238 days - 3% |
| > 238 days - 1% |
|
| Emergency Loan |
| Up to 238 days - 3% |
| > 238 days - 1% |
|
| Merchandise Loan |
NIL |
| Consumer Durable Loan |
>90 days- 3% |
| TW |
>180 days - 3% |
| CV |
| 180 - 364 days - 4% |
| > 365 days - 3% |
|
| 3W |
| 180 - 364 days - 4% |
| > 365 days - 3% |
|
| GEL |
>365 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.
Late payment penalty, Bounce Cheque charges
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.