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|Sr. No.||Type of charges /penalties||Exisiting wef 10 Dec 2021|
|1||Documentation charges||NTB / Enhancements Upto Rs. 3000 per CRN|
|2||Stamping Charges||At Actuals|
|3||Overdue / Penal Interest||3% of Overdue Amount per month, compounded monthly|
|4||Collection charges||30% of penal and cheque bouncing charges|
|5||Dishonour charges per Instance (Cheque / Standing Instructions / ECS / NACH)||Rs. 750|
|6||Swap Charges( Replacement of PDCs) / Change of SI Instructions / NACH||Upto Rs. 500 per Swap per Instance|
|7||Foreclosure / Takeover Charges (in case of term loan Other than Individuals and Fixed rate Individuals)||3% of Principal Outstanding (In case of own funds NIL# & any other source 3%)|
|8||Foreclosure / Takeover Charges (All facilities except Term Loans)||3% of Sanction Limit (In case of own funds NIL# & any other source 3%)|
|9||Processing Charges for closure of A/C (Term Loan A/C Of Individuals having Floating Rate)||2% of Principal Outstanding|
|10||Prepayment / Takeover Charges (in case of Term loan)||3.00% of amount prepaid (In case of own funds NIL# & any other source 3%)|
|11||Charges for furnishing a copy of Credit Rating Report (CIBIL) to the applicant||Rs. 250|
|12||Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule) per Transaction||Rs. 500|
|13||Issuance of credit solvency certificate of the customer||Rs. 5,000|
|14||Loan Cancellation charges||Rs. 2500 per agreement|
|15||Duplicate Foreclosure statement charges||Rs. 500|
|16||Duplicate NO Due Certificate A/C Closure||Rs. 5,000|
|17||Rebooking charges||Rs. 2,500|
|18||Title Clearance Charges||At Actuals|
|19||Mortgage Charges||At Actuals as per state laws|
|20||Stock audit charges||Rs.5000 per audit|
|21||Stock/ Property insurance policy delays||Rs.5000 per delay beyond 15 days of expiry of cover|
|22||Collateral Management Agency charges||1% of utilisation or Rs.35000/- per location pm or as per actual cost.|
|23||Closure /Foreclosure / Pre Closure/ Takeover Fee||3% of the limit/s sanctioned (In case of own funds NIL# & any other source 3%)|
|24||Stock statement delays (Beyond Due Date)||Rs.5000 per delay pm beyond 15th of next month|
|25||Service Charges/PF||upto 2% of limit for TLs & 1% for WC|
|26||ROC Search Charges||At Actuals|
|27||Valuation Charges Per Property||Rs. 4000|
|28||Legal Charges per Property||Rs. 3500|
|29||Renewal PF to be debited from Borrower A/C upon Expiry of 12 months of Limit||0.25% of Limits|
|30||Minimum limit utilization charges if below 25% / Quarter / CRN||Rs. 5,000 / Quarter / CRN|
|31||If Utilization is < 50% or > 90% during the facility period of 12 months||ROI to be Increased from 1% to 2%|
|32||Minimum churning if below 25% / Quarter / CRN against the Limit Approved (OD/CC of Non -Individuals Amount)||Rs. 10,000 / Quarter / CRN|
|33||Minimum TBC maintenance (As per SL)||Rs. 20,000|
|34||Change in Instalment due date||Rs. 2,500|
|35||Change / Part release of collaterals - Charges per property as per Customer request||Rs. 5,000|
|36||Deferral Not Submitted On Time||Rs. 2500 / Month / CRN (15 Days post Expiry of due date of Deferral)|
|37||Terms of Sanction Letter Not Adhered (Covenants)||Rs. 5000.00 / CRN / Month|
|38||Increase in Rate of Interest||If the account conduct is unsatisfactory for reasons like poor average credit churning of 25 % and/or high average utilisation of 95 % or above during review period, account marked under EWS, external credit rating downgrade for the account, Account in DPD for three Consecutive months for EMI/Interest Servicing or for any other deficiency either credit or Risk related, after a comprehensive review of the account ,Bank & increase the applicable ROI from 0.5% to 5 %|
|39||Loan Closure intimation:||In the event of borrower desiring to foreclose the loan facility/ies ; in such case the borrower is required to give 30 days advance notice in writing to the bank for his intention to foreclose the account/s and seek consent from the bank.|
|40||Non-compliance Charges:||2.50% p.m.* + applicable taxes shall be applicable in following scenarios:
1. In the event of non-closure of revolving limit/s on the date of expiry as per the Sanction letter/s or non-renewal of such revolving limit/s as specified in Sanction Letter due to non-submission of requisite financial documents/execution of loan documents if any by the borrower ) on the total exposure 2. Non Submission of Collateral/s or Property documents and/or No dues Certificate etc. after disbursement of loan facility/ies.
*( To be calculated as sum of limits of revolving lines and principal outstanding of non-revolving lines )
|Plus applicable Taxes As per Government Policy|
|# NIL : if through own funds ( generated out of their own business activities ) is applicable to Micro & Small Enterprises only.|
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Founder - Frames Productions Company
We are banking with Kotak Bank since the last 10 years. I really appreciate the Relationship Manager's support I get for Business Banking.
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Reviewed on 07/27/2022
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