MOST IMPORTANT TERMS AND CONDITIONS (MITC) – PERSONAL LOAN Sl. No. 1. *Prepayment charges 2. *Default interest (Delayed payment charges) 3. 4.
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Particulars : No part-payment allowed : 2% additional interest per month on overdue EMI amount (to be paid per instalment due per month of delay) *Cheque/ECS/E-NACH/SI Dishonour : Rs. 250 (bounce cheque charges) charges *Foreclosure Charges : a) 5% of Principal outstanding below 12 months and 3% of Principal outstanding post that. b) No foreclosure before 6 months on book. c) NIL foreclosure charges if 12 EMIs paid without any bounce and foreclosure is using Own funds. Balance transfer of loan outstanding to another financial institute is NOT treated as own source of funds *Processing Fees : 1% of Total Loan Amount *Convenience Charges : Rs. 999 *Stamp Duty / Agreement Franking : 0.2% of Total Loan Amount Charges *Issue of Duplicate interest & : Rs. 250 Principal certificate *Cheque swapping charges : Rs. 250 *Charges for CIBIL report : Rs. 50
Note: *GST and other taxes to be levied as applicable.
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