Charges & Fees
Rate of Interest and Processing Fees
The Prime Lending Rate of RFPL-PLR is a benchmark rate estimated by the Company for its lending to customers.
Plus applicable taxes
| Products/Type of charges | Rate of Interest Range | Non-refundable Processing Fees |
|---|---|---|
| PERSONAL LOAN | 13.5% - 19.50% | UP TO 2.50% OF LOAN AMOUNT |
| SMALL BUSINESS LOAN | 24% - 28% | UP TO 2.50% OF LOAN AMOUNT |
| BUSINESS LOAN | 16% - 24% | UP TO 2.00% OF LOAN AMOUNT |
| TWO-WHEELER LOAN | 18% | NOT APPLICABLE |
| LOAN AGAINST PROPERTY /LEASE RENTAL DISCOUNTING | 12% - 18% | UP TO 1.00% OF LOAN AMOUNT |
| INVOICE DISCOUNTING | 12% - 18% | UP TO 2.00% OF LOAN AMOUNT |
RattanIndia Finance Private Limited (RFPL) – Schedule of Charges
The Indicative schedule of charges for Loan Products is attached herewith, applicable taxes would be levied on these charges.
| Transaction | Personal / Small Business Loan | Business Loan | Loan Against Property / Lease Rental Discounting | Two-wheeler Loan | Invoice Discounting |
|---|---|---|---|---|---|
| Cheque Return Charges / ECS Failure Charges | 600/- per instances | 600/- per instances | 800/- per instances | 600/- per instances | 600/- per instances |
| Default Penal Interest Rate / Non-Conformance with any Covenants / Stipulated condition | 24% Per Annum | ||||
| Accrued Interest | As applicable based on actual delayed status or as communicated by the lender from time to time. | ||||
| Late payment/Penal charges (per month) | 2% on the actuals and maximum of Rs 300 whichever is higher | 2% on the actuals and maximum of Rs 300 whichever is higher | 2% on the actuals and maximum of Rs 300 whichever is higher | 2% on the actuals and maximum of Rs 300 whichever is higher | 2% on the actuals and maximum of Rs 300 whichever is higher |
| Cheque Swap charges (per swap) | 600/- per instances | 600/- per instances | 600/- per instances | 600/- per instances | 600/- per instances |
| Cancellation & Rebooking charges | 1000 or 5% of loan amount - whichever is higher | 1000 | 1% of the loan amount + interest from date of disbursal till receipt of cancellation request or 30 days whichever is lesser | 1000 or 5% of loan amount - whichever is higher | 1000 |
| Foreclosure / Prepayment charges* | 5% of principle outstanding amount | 5% of Principle loan outstanding | <12 - 5% + ST, 13 - 24 - 4%,+ ST 25 months beyond 3% + ST | 5% of principle outstanding amount | 5% of Principle loan outstanding |
| Loan re scheduling charges (per re scheduling) | 600 | NA | NA | ||
| Duplicate NOC Issuance Charges # | 500 | 500 | 600 | 500 | 600 |
| Duplicate Repayment Schedule # | 500 | 500 | 600 | 500 | 600 |
| Statement of Account # | 500 | 500 | 600 | 500 | 600 |
| Document retrieval charges (per retrieval) # | 500 | 500 | • Property paper-Photo Copy- retrieval charges – 1000 + GST • Property Paper – in original – in foreclosure – retrieval charges – 1000 + GST |
500 | 500 |
| List of Documents # | NA | NA | 1st NIL / 600/- for Duplicate | NA | NA |
| Part Payment charges | NA | NA | Not allowed in initial 12 months from the date of disbursal. 13 months onwards, max 25% of PoS once in a year is allowed. For >25% PoS Part payment in a year, applicable foreclose charges will be charged on incremental PoS above 25% | NA | NA |
| Cash Pickup Charges | 350 | 350 | 350 | 350 | 350 |
| CIBIL report retrieval fee | 500 | 500/- for individual & 2000/- for Corporates | 500/- for individual & 2000/- for Corporates | 500 | 500/- for individual & 2000/- for Corporates |
|
As per actuals, where applicable | ||||
Changes to the above charges are indicative in nature, actual charges will be as communicated at the time of loan sanction and disbursal and would be subject to changes from time to time.