Schedule of Charges for Used Car Loans
We believe in complete transparency. Here’s a clear breakdown of all applicable charges.
| Types of Fee | Applicable Charges |
|---|---|
| Processing Fee | Up to 2.0% of the loan amount A one-time, non-refundable fee. |
| Documentation Charges | ₹500 - ₹1,500 Covers the cost of document verification. |
| Prepayment/Foreclosure | 2% - 5% on the outstanding principal Applicable if loan is closed before tenure ends. |
| Late Payment Penalty | 2% per month on the overdue EMI Charged for each month of delay. |
| Cheque/NACH Bounce | ₹500 per instance Charged for failed scheduled payments. |
| Loan Cancellation Charges | ₹2,000 + interest for the period Applicable if the loan is cancelled post-disbursal. |
| Valuation Fee | As per actuals Applicable for inspection of the vehicle. |
Please Note: All charges mentioned are exclusive of applicable taxes. For the most accurate and personalized information, please refer to your official loan agreement.
