Product Interest Rate &
Charges with Polices
| Loan Category | GOLD LOANS |
| Personal Loans | Interest Rate 24% to 32% Per Annum |
| Processing Fees | Up to 1% of the loan amount (inclusive of applicable taxes). Subject to a minimum Rs. 150/- (inclusive of applicable taxes) and Maximum of Rs. 600/- (inclusive of applicable taxes) |
| Stamp Duty | Payable as per state laws and deducted from the loan amount |
| Cash Handling Charges | Rs. 50/- (inclusive of applicable taxes). Applicable for cash disbursement. |
| Penal Charges | Rs. 8 Per day on outstanding balance. Penal Charges will be over and above the interest rate slab mentioned above which shall be applicable/chargeable in case of default in repayment of the outstanding dues post maturity |
| Cash Deposit Charges | Customer will incur a cash deposit charge of Rs. 50/- (Inclusive of all applicable taxes) when making cash payments at our branch offices. |
| PG Facility Charges | of Rs. 15/- each transaction (Inclusive of all applicable taxes) will be charged for utilizing the payment gateway to make part or full payment towards the loan through digital properties. |
| Convenience Fee | Convenience Fee of Rs. 149/- (Inclusive of all applicable taxes) shall be levied for release of ornament’s /out of multiple ornaments securing the gold loan |
| Part- Payment Charges | NIL |
| Foreclosure Charges | Minimum 7 Days interest
Scenario – Foreclosure charges are “0” but in the cases customer closes loan within 7 days of booking, minimum 7 days interest is charged. |
| Auction Charges | Charge of Physical Notice – Rs. 100/- (inclusive of applicable taxes) per notice
Recovery Charges – Rs. 750/- (inclusive of applicable taxes) Advertisement Fee – Rs.400 (inclusive of applicable taxes) |
| Loan Category | PERSONAL LOANS | |
| Personal Loans | Interest Rate 24% to 32% Per Annum | |
| Processing Fees | Up to 3.5% of the loan amount
(inclusive of applicable taxes) |
|
| Flexi Fee | Term Loan – Not Applicable
Flexi Variant – A Fee will be deducted upfront from the loan amount.
|
|
| Up to Rs. 1,999/- | For loan amount less than Rs. 2,00,000/- | |
| Up to Rs. 3,999/- | For loan amount less than Rs.
4,00,000/- |
|
| Up to Rs. 5,999 | For loan amount less than Rs.
6,00,000/- |
|
| **All Flexi charges are inclusive of applicable taxes | ||
| **Loan amount includes approved loan amount, insurance premium and VAS Charges | ||
| Bounce Charges | In case of default of repayment of instrument, Rs. 750 – Rs.1200 per bounce will be levied. | |
| Prepayment Charges | Full Repayment
Term Loan – Up to 4% (Inclusive of applicable taxes) on the outstanding loan amount as on date of full repayment
Flexi-Term Loan: Up to 4% (Inclusive of applicable taxes) of total withdrawable amount as per repayment schedule as on date of full repayment.
Part-Payment Term Loan – Up to 4% (Inclusive of applicable taxes) of the principal amount of loan repaid on the date of such part Repayment
Not Applicable for Flexi Term Loan
**Foreclosure will be processed post clearance of FIRST EMI |
|
| Penal Charges | Delay in payment of instalment shall attract a penal charge of up to Rs. 12/- per day from the respective due date to until the date of receipt of full instalment(s) amount. | |
| Stamp Duty | Payable as per state laws and deducted from the loan amount | |
| Mandate Rejection Charges | Rs. 450/- per month from the first month of the due date for the mandate rejected by customer’s bank until he registration of new mandate | |
| Instalment default charges | Rs. 450/- per month from the first instalment due date for the mandate rejected by customer’s bank until he registration of new mandate | |
| Annual Maintenance Charges | Term Loan – NIL
Flexi Term Loan – up to 0.20% (Inclusive of applicable taxes) of the total withdrawable amount on the date of levy of charges |
|
| Broken Period Interest and/Pre-Monthly Instalment interest | “Broken Period Interest and/Pre-Monthly Instalment interest” shall mean the amount of interest on loan for the number of days(s) which is (are) charged in two scenarios
1. Over and above the period of 30 days from the date of disbursement of the loan For Term Loan: Deduct from disbursement or added in first EMI, as applicable
For Flexi Term Loan or added in first EMI
2. Less than period of 30 days from the date of disbursement of the loan Interest on first instalment will be charged for actual number of days. |
|
| Switch Fee | Up to 1.18% of the loan amount (inclusive of applicable taxes). Switch fee is applicable only in cases of switch of loan. In Switch cases, processing fee will not be applicable. | |
| Cash Collection Charges | Rs. 150/- (Inclusive of all applicable taxes) will be charged, if customer opts to make payment in cash when the collection is done by collection agents. This fee charged only once in month, regardless the number of payments made against Multiple LANs. | |
| Cash Deposit Charges | Customer will incur a cash deposit charge of Rs. 50/- (Inclusive of all applicable taxes) when making cash payments at our branch offices. | |
| PG Facility Charges | of Rs. 15/- each transaction (Inclusive of all applicable taxes) will be charged for utilizing the payment gateway to make part or full payment towards the loan through digital properties. | |
| Loan Category | VEHICLE LOANS |
| Personal Loans | Interest Rate 24% to 32% Per Annum |
| Processing Fees | Up to 7.5% of the loan amount (inclusive of applicable taxes) |
| Documentation & Hypothecation Charges | Rs. 2750/- amount (inclusive of applicable taxes) Collected Up front |
| Stamp Duty | Payable as per state laws and deducted from the loan amount |
| Prepayment Charges | Full Repayment
Term Loan – Up to 4% (Inclusive of applicable taxes) on the outstanding loan amount as on date of full prepayment
Part-Payment Term Loan – Up to 4% (Inclusive of applicable taxes) of the principal amount of loan repaid on the date of such part -Repayment
Not Applicable for Flexi Term Loan
**The Charges will be processed post clearance of FIRST EMI |
| Penal Charges | Delay in payment of instalment shall attract a penal charge of up to Rs. 6/- per day from the respective due date to until the date of receipt of full instalment(s) amount. |
| Mandate Rejection Charges | Rs. 450/- per month from the first month of the due date for the mandate rejected by customer’s bank until he registration of new mandate |
| Instalment default charges | Rs. 450/- per month from the first instalment due date for the mandate rejected by customer’s bank until he registration of new mandate |
| Loan Enhancement Fee | Rs. 117/-(Inclusive of applicable taxes) for temporary increase in EMI card limit for the transaction. Same will be charged only for increase in limit in excess of Rs. 999/- to be collected along with first instalment. |
| Stock Yard Fee | Rs. 59/- per day up to 60 days ((Inclusive of applicable taxes) |
| Broken Period Interest and/Pre-Monthly Instalment interest | “Broken Period Interest and/Pre-Monthly Instalment interest” shall mean the amount of interest on loan for the number of days(s) which is (are) charged in two scenarios
1. Over and above the period of 30 days from the date of disbursement of the loan For Term Loan: Deduct from disbursement or added in first EMI, as applicable
For Flexi Term Loan or added in first EMI
2. Less than period of 30 days from the date of disbursement of the loan Interest on first instalment will be charged for actual number of days. |
| NOC KIT | NA |
| Fee for delay in RC Hypothecation | Rs. 1,500/- (Inclusive of applicable taxes) ** One Time Charge levied in case of delay in receiving of RC beyond 120 days of disbursement.
|
| Cash Collection Charges | Rs. 150/- (Inclusive of all applicable taxes) will be charged, if customer opts to make payment in cash when the collection is done by collection agents. This fee charged only once in month, regardless the number of payments made against Multiple LANs. |
| Cash Deposit Charges | Customer will incur a cash deposit charge of Rs. 50/- (Inclusive of all applicable taxes) when making cash payments at our branch offices. |
| PG Facility Charges | of Rs. 15/- each transaction (Inclusive of all applicable taxes) will be charged for utilizing the payment gateway to make part or full payment towards the loan through digital properties. |
| Loan Category | CONSUMER GOODS LOANS |
| Personal Loans | Interest Rate 14% Per annum |
| Processing Fees | Up to 2.5% of the loan amount (inclusive of applicable taxes) |
| Documentation Charges | Rs. 2360/- amount (inclusive of applicable taxes) Collected Up front |
| Flexi Fee | NA |
| Stamp Duty | Payable as per state laws and deducted from the loan amount |
| Cash Collection Charges | Rs. 150/- (Inclusive of all applicable taxes) will be charged, if customer opts to make payment in cash when the collection is done by collection agents. This fee charged only once in month, regardless the number of payments made against Multiple LANs. |
| Cash Deposit Charges | Customer will incur a cash deposit charge of Rs. 50/- (Inclusive of all applicable taxes) when making cash payments at our branch offices. |
| PG Facility Charges | of Rs. 15/- each transaction (Inclusive of all applicable taxes) will be charged for utilizing the payment gateway to make part or full payment towards the loan through digital properties. |
| Prepayment Charges | Full Repayment
Term Loan – Up to 4% (Inclusive of applicable taxes) on the outstanding loan amount as on date of full prepayment
Part-Payment Term Loan – Up to 4% (Inclusive of applicable taxes) of the principal amount of loan repaid on the date of such part -Repayment
Not Applicable for Flexi Term Loan
**The Charges will be processed post clearance of FIRST EMI |
| Annual Maintenance Charges | NA |
| Penal Charges | Delay in payment of instalment shall attract a penal charge of up to Rs. 190/- per day from the respective due date to until the date of receipt of full instalment(s) amount. |
| Broken Period Interest and/Pre-Monthly Instalment interest | “Broken Period Interest and/Pre-Monthly Instalment interest” shall mean the amount of interest on loan for the number of days(s) which is (are) charged in two scenarios
1. Over and above the period of 30 days from the date of disbursement of the loan For Term Loan: Deduct from disbursement or added in first EMI, as applicable
For Flexi Term Loan or added in first EMI
2. Less than period of 30 days from the date of disbursement of the loan Interest on first instalment will be charged for actual number of days. |
| Legal, repossession and incidental charges | Actual legal and incidental charges as applicable |
| LC Processing | Up to 2.36% of the loan amount (Inclusive of applicable taxes) |
| CERSAI Charges | Up to Rs. 118/- (Inclusive of applicable taxes) |
ILLUSTRATIVE LIST AND DETAILS OF VARIOUS FEES AND CHARGES UNDER VARIOUS LENDING PRODUCTS
| Sr No | Name of Fees & Charges | Amount based/ rate based | Description |
| UPFRONT FEES AND CHARGES | |||
| 1 | Processing Fees | Fixed / Rate | Fees charged for processing of a loan |
|
2 |
Upfront Interest |
Fixed / Rate |
Amount collected as an interest from the Customer in advance at the time of processing/disbursement of the Loan. |
| 3 | Mandate registration Charges | Fixed | Fees charged for registering Mandate of the customers |
| 4 | Documentation Charges | Fixed | Fees charged for verification of Documents of the customer |
|
5 |
Flexi Fees |
Fixed |
Fees charged to the customer for availing flexi variant of loan to meet individual customer needs |
| 6 | Stamp Duty | Fixed / Rate | Statutory charges |
|
7 |
Convenience Fee |
Fixed / Rate |
Fees charged to the Customer for allowing access to existing BFL network/ infrastructure of merchants and dealers |
|
8 |
Loan Enhancement fee |
Fixed |
Fees charged to the customer for enhancing loan amount of the customer to cover additional risk |
| 9 | Limit Enhancement fee | Fixed | Fees charged to the customer for enhancing limit of the customer |
| 10 | Transaction fee | Fixed | Transaction fee charged to the customer who does not have an EMI card |
|
11 |
Credit Suraksha Fee |
Fixed |
Fees charged to the customer for installing Bajaj Finserv Credit Surekha Application on the mobile phone to put restriction on usage of mobile phone in case of default |
|
12 |
Commitment Fee |
Fixed |
Fees charged to the customer for processing loans in the event of non- availement of credit facility by the customer post sanction |
| Sr No | Name of Fees & Charges | Amount based/ rate based | Description | |||
|
13 |
Mortgage Origination Fee / Mortgage Origination Fee Revalued |
Fixed |
Fees charged to the customer for mortgaging a property | |||
| 14 | Property valuation Fee | Fixed | Fees charged to the customer for valuation of an asset | |||
|
15 |
Hypothecation Charges |
Fixed |
Fees charged to the customer for managing hypothecation processes and to protect asset in financial transactions | |||
| 16 | CERSAI Charges | Fixed | Fees charged to the customer for service charges of CERSAI Platform | |||
|
17 |
Registrar of Companies filing charges |
Fixed |
Fees charged to the customer for filing documents with the Registrar of Companies | |||
| SERVICE FEES | ||||||
|
18 |
Switch Fee |
Rate |
Fees charged to the customer for converting one variant of loan to another variant of loan | |||
|
19 |
Conversion Fees |
Rate |
Fees charged to the customer for converting the Fixed ROI to Floating ROI or vice versa. | |||
|
20 |
Renewal Fee |
Fixed |
Fees charged to the customer for renewing the loan upon the maturity of the subsiding asset. | |||
| 21 | Annual Maintenance Charges | Fixed / Rate | Fees charged to the customer to keep flexi loan facility active of the customer | |||
| 22 | Swapping Charges | Fixed | Fees charged to the customer for Swapping of customer mandate | |||
| 23 | No Objection Certificate for Interstate Transfer | Fixed | Fees charged to the customer for issuing NOC for Interstate transfer of Vehicle | |||
|
24 |
Charges for Duplicate No Objection Certificate |
Fixed |
Fees charged to the customer for issuing Duplicate NOC for removing Hypothecation post loan closure | |||
|
25 |
No Objection Certificate for Private to Commercial |
Fixed |
Fees charged to the customer for Issuing NOC for converting vehicle from Private to commercial | |||
| 26 | Valuation charges | Fixed | Fees charged to the customer for valuing an asset | |||
|
27 |
Account Opening Charges |
Fixed |
Fees charged to the customer for initiation of an account related to a loan secured by securities. | |||
| 28 | Pledge Confirmation Charges | Fixed | Fees charged to the customer for pledging shares | |||
|
29 |
Pledge Invocation Charges |
Fixed |
Fees charged to the customer for invoking the pledge associated with the customer’s shares (to cover NSDL/CDSL charges) | |||
| 30 | Demat Share Transfer Charges | Rate | Fees charged to the customer for transfer of Demat shares | |||
| 31 | Loan Rebooking Charges | Fixed | Fees charged to the customer for rebooking a loan on customer request | |||
|
32 |
Depository Participant Charges |
Fixed |
Fees charged to the customer for custodial service for the securities held in Demat account | |||
| 33 | Cash Handling Charges | Fixed | Fees charged to the customer for disbursing the loan in cash mode. | |||
|
34 |
Direct Cash Collection charges |
Fixed |
Fees charged to the customer for providing facility of repaying the loan in cash | |||
| 35 | Statement Issuance Charges | Fixed | Amount collected from customer for providing any statements. | |||
| 36 | Agreement copy charges | Fixed | Amount collected from customer for providing copy of agreement. | |||
| 37 | Administrative Charges | Fixed | Amount collected from customer for covering various Admin expenses. | |||
|
38 |
Payment Gateway transaction charges / Platform Charges / Transfer Charges |
Fixed |
Charges collected from customer for providing a platform for making digital payment / Transfers / Transactions | |||
| 39 | Line of credit set up fee | Fixed | Amount collected from customer for setting up a credit line. | |||
| 40 | Money Loading Charges | Fixed / Rate | Charge collected from customer for loading money into payments wallet | |||
| CONTINGENT FEES AND CHARGES | ||||||
| 41 | Bounce Charges | Fixed | Fees charged to the customer for dishonor of payment instrument | |||
| 42 | Penal Interest | Rate | Interest charged to the customer for delay in payment of EMI | |||
|
43 |
Additional Penal Interest |
Rate |
Interest charged to customer in case of breach of terms of Agreement and/or sanction letter terms, including but not limited to non-submission of requisite documents to BFL | |||
| 44 | Mandate Rejection Charges | Fixed | Fees charged to the customer for not registering mandate on customer’s bank | |||
| 45 | Part Prepayment Charges | Rate | Fees charged to the customer for allowing partial pre-payment of loan | |||
| 46 | Foreclosure Charges | Rate | Fees charged to the customer for allowing full pre-payment of loan | |||
| 47 | Legal Charges | Fixed | Fees charged to the customer for recovering legal cost | |||
|
48 |
Legal & Repossession Charges |
Fixed |
Fees charged to the customer for legal processes and repossession cost incurred by the Company. | |||
|
49 |
Stockyard Charges |
Fixed |
Fees charged to the customer for parking and managing repossessed vehicles securely | |||
|
50 |
Audit / inspection charges |
Fixed |
Fees charged to the customer for audit and inspection services to ensure compliance | |||
|
51 |
Notice Charges (Default / Intimation / LTV Breach / Final Auction Intimation) |
Fixed |
Fees charged to the customer to recover charges for issuing Notice | |||
| 52 | Auction Charges | Fixed | Fees charged to the customer to recover charges incurred to conduct auction | |||
|
53 |
Brokerage Charges |
Fixed |
Fees charged to the customer for selling customer shares in case of default by customer | |||
|
54 |
RC hypothecation delay charges |
Fixed |
Fees charged to the customer for delay in receiving RC beyond a certain specified period post disbursal. | |||
|
55 |
Cancellation Charges |
Fixed |
Fees charged to the customer to compensate processing cost in the event of cancellation of loan | |||
| VALUE ADDED SERVICE OFFERED | ||||||
| 56 | EMI card fee | Fixed | Fees charged to the customer for providing an EMI card facility | |||
| 57 | Health EMI (HEMI) card | Fixed | Fees charged to the customer for providing Health EMI card facility | |||
|
58 |
Add on Card Fee |
Fixed |
Fees charged to the customer for providing an additional EMI card / Health EMI card facility | |||
| 59 | Property Insight | Fixed | Fees charged to the customer for valuing an asset for risk assessment | |||
| 60 | CIBIL TransUnion Report Fee (CTR) | Fixed | Fees charged to the customer for providing CTR Report | |||
| 61 | Business Fitness Report | Fixed | Fees charged to the customer for providing BFR Report | |||
| DISTRIBUTION OF THIRD-PARTY PRODUCTS AND SERVICES | ||||||
| 62 | Life Insurance | Fixed | Amount for Life insurance purchased / availed by customer | |||
| 63 | General insurance | Fixed | Amount for General insurance purchased
/ availed by customer |
|||
| 64 | Health Insurance | Fixed | Amount for Health insurance purchased / availed by customer | |||
| 65 | Financial Fitness Report | Fixed | Amount for FFR Report purchased / availed by customer | |||
| 66 | Financial Fitness Detailed Report | Fixed | Amount for FFDR Report purchased / availed by customer | |||
| 67 | Credit Card | Fixed | Amount for Credit card availed by customer | |||
| 68 | GPS Device | Fixed | Amount for GPS device purchased / availed by customer | |||
