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  • Bike Loan

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    Krishna Kumar
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    This document outlines various fees associated with a bike loan, including documentation charges, cheque bounce fees, part prepayment charges, loan cancellation fees, rescheduling charges, processing fees, late payment fees, and insurance and legal fees. Fees vary depending on factors like loan amount, timing of payments, and type of service or document requested. Prepayment charges decrease the longer the loan has been held, starting at 6% within the first 12 months down to 3% after 24 months.

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    Bike loan required latest

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    This document outlines various fees associated with a bike loan, including documentation charges, cheque bounce fees, part prepayment charges, loan cancellation fees, rescheduling charges, processing fees, late payment fees, and insurance and legal fees. Fees vary depending on factors like loan amount, timing of payments, and type of service or document requested. Prepayment charges decrease the longer the loan has been held, starting at 6% within the first 12 months down to 3% after 24 months.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    Download as pdf or txt
    44 views1 page

    Bike Loan

    Uploaded by

    Krishna Kumar
    This document outlines various fees associated with a bike loan, including documentation charges, cheque bounce fees, part prepayment charges, loan cancellation fees, rescheduling charges, processing fees, late payment fees, and insurance and legal fees. Fees vary depending on factors like loan amount, timing of payments, and type of service or document requested. Prepayment charges decrease the longer the loan has been held, starting at 6% within the first 12 months down to 3% after 24 months.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 1

    Charges Bike Loan

    Documentation Charges Rs. 600 per case


    Cheque Bounce Charges Rs. 750 per Bounce
    Cheque Swapping Charges Rs. 750 per transaction
    Stamp Duty charges At Actual
    Part prepayment is allowed subject to completion of 12 months (i.e., Post
    payment of 12 EMIs)
    Part prepayment will be allowed twice only during loan tenure. Part
    prepayment is allowed only once a year. At any point of time, part prepayment
    Part Prepayment charges will not increase beyond 25% of Principal Outstanding.
    5% on the part prepayment amount in case part prepayment is within 13-24
    months from 1st EMI
    3% on the part prepayment amount in case part prepayment is post 24 months
    from 1st EMI

    Rs. 1000/- will be charged , in addition in the event of cancellation, interest


    charges from disbursement date till refund of disbursement amount will be
    Loan Cancellation borne by the customer. Processing Fee, Stamp duty and Documentation Charges
    are non-refundable charges and would not be waived/refunded in case of loan
    cancellation. Cancellation can be done only before clearance of 1st EMI.

    Rs. 1000/- will be charged. If changes are required on RC, refundable Security
    Deposit – non-interest bearing of Rs. 5000 would be required. It will be the
    Loan Reschedulement charges/ rebooking charges
    borrower's responsibility to provide the transferred Registration Certificate to
    the bank.
    Loan Re-schedulement charges As applicable at the time of Re-schedulement
    Processing Charges Amount - For New Car Upto 1% of Loan Amount or Rs.10000 whichever is lower

    Processing Charges Amount - For Used Car 2% of loan amount or ₹6,000 whichever is lower

    CIBIL Charges (only on request) Rs. 50/-


    Commercial / Personal Use NOC (conversion subject to
    Rs. 2250/- per NOC
    credit approval)

    Collateral Charges Rs.450 per case

    Late Payment Charges 2% per Month

    Transaction/Other Charges At Actuals

    Asset Verification Charges At Actuals

    From 07 months to 12 months (from 1st EMI) - 6% of outstanding


    Prepayment charges From 13 months to 24 months (from 1st EMI) - 5% of outstanding
    Post 24 months (from 1st EMI) - 3% of outstanding
    Duplicate NOC / NDC Issuance charges Rs. 750 per NOC
    Loan Statement charges Rs. 750 per statement
    Ammortization Schedule Charges Rs. 750 Per Schedule
    Prepayment Statement charge NA
    Revalidation of NOC Charges NA
    Special NOC Rs. 500 Per Request

    Legal /Collections/Repossession & Incidental Charges At Actuals

    Insurance Premium Amount At Actuals


    Insurance Sum Assured At Actuals
    Insurance Term At Actuals
    Valuation Charges (for Used Car only) Rs. 1,200
    GST and other govt. taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges

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