Schedule of Charges

Schedule of Charges (SOC)

1. Rationale for Levying Charges

1. ACH Failure/Mandate Rejection Charges: This Charge is levied in case of default in payment of Equated Monthly Installment (EMI) by reason of the Repayment Instrument(s) not registered for any reason on monthly basis, on the due date of EMI till the successful registration of mandate.

2. Bounce Charge: In case of default by reason of the Repayment Instrument(s) being dishonored, the Company shall Charge the Customer bounce Charge towards its dishonor.

3. Cash Collection/Recovery/Visit Charges: Charges payable by the Customer towards collection of loan amount or EMI amount defaulted payable to the Company to cover the expenses for the collection of debt from the Customer.

4. CERSAI Charges (Applicable if Secured Property): Amount charged on actual basis by Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) for registration of pledge against the property with financial institution.

5. Copy of Loan Agreement: Charge levied by the Company on the Customer for issuance of a copy of the loan agreement. These Charges are applicable to any document pertaining to the loan that the Customer requests from the Company.

6. Copy of Property Documents (If Applicable): Charge levied on the Customer for issuance of a copy of the property documents of the Customer the originals of which are with the Company until the loan is completely repaid.

7. Credit Verification Charges: Charges paid to the Credit Agencies to verify the Customer's credit behavior and the credit score to understand the repayment ability of the Customer before the sanctions of the loan.

8. Duplicate NOC/NDC Charges: This is charged for issuance of duplicate No Objection Certificate (NOC) or No Dues Certificate (NDC) based on the Customer request.

9. Duplicate Re-payment schedule: Charges paid by the Customer for issuance of duplicate statement of the loan account of the Customer.

10. Foreclosure Charge: This Charge, also known as Prepayment Charge or Pre-closure Charge is levied in case Customer repays their full loan amount before any specified period or the end of its term to cover the lost interest revenue from the early closing of the loan.

11. Legal, Repossession & Incidental Charges: Charges payable by the Customer towards the cost incurred for repossession of the hypothecated asset by the Company. The repossession Charges include the costs of hiring a recovery agent, storing and managing the asset of the Company till they can be sold, preparing the asset for sale and such other Charges, as applicable.

12. Legal Verification (If Applicable): The Charges payable by the Customer for the legal cost incurred by the Company before sanction of the loan, for conducting a title search report on the property offered as Collateral.

13. Loan cancellation Charges: Charges payable by the Customer in case he cancels the loan post sanction of the loan.

14. Loan Restructuring Charges: This Charge is applicable if the Customer renegotiates and changes the loan conditions with the Company to avoid default on the existing loan and to manage the repayment of loan principal and interest due.

15. Mandate registration Charges: Charges payable for registration of standing instruction to Customer Bank that authorizes to credit or debit a certain amount of money as EMI for Customer loan and credit in the Company’s account periodically. ECS debits are handled by the NACH (National Automated Clearing House) under NPCI (National Payments Corporation of India).

16. Penal Charges/Late repayment Charges: Penal Charges also known as Late Repayment Charges are charged if the Customer delays the payments or EMIs payable to the Company on the agreed due date, or any non-compliance of material terms and conditions of loan contract by the borrower. There shall be no capitalization of penal charges i.e., no further interest computed on such charges. However, this will not affect the normal procedures for compounding of interest in the loan account.

17. Processing Charge: Charges payable by the Customer to cover the processing cost for the application of the loan process.

18. ROC Charges: Charges payable by the Company to the Registrar of Companies for Creation/Modification/Deletion of Charge on the hypothecated asset of the Customer.

19. Stamp Duty/Stamping/Franking Charges: The Stamp duty payable by the Customer while availing the loan to be engrossed in the Loan agreement executed by the Customer and the Company on actual basis.

20. Statement of Accounts/Loan Statement: Charges paid by the Customer for issuance of statements of accounts pertaining to the loan account of the Customer by the Company.

21. Swap Charge: The Charge payable by the Customer upon the request to change the repayment mode.

22. Valuation Charges (If Applicable): The Charge incurred by the Company to determine the value of the assets proposed to be financed.