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Equipment Loan Interest Rates

Description of Charges Charges
Cheque Bounce Charges Rs 1000
Overdue Interest 26% p.a.
Cheque Swapping Charges Rs 500 per swap
Prepayment Charges Equipment Loans with Security Deposit:-
  • 5% in the first 12 months.
  • 4% in 13-24 months and 2% thereafter on outstanding principal
Other Equipment Loans:-
  • 5% in the first 12 months. 2% thereafter on outstanding principal
*The Preclosure charges is exclusive of GST.
Loan Cancellation Charges Rs.2000
Loan reschedulement charges :
a) EMI Cycle Date Change
b) Tenure/EMI Reschedulement
3% of POS
NOC Issuance charges First "Nil", Duplicate Rs.500
Cash Handling Charges 1% + applicable taxes for cash receipts for Rs.50K (Max cash limit Rs 1,99,999.)
SPDC retrieval Charges for swap, matured, preclosure and customer induced cancellations Rs.300/- at the time of Preclosure/Swap/Matured/Customer Induced cancellations.
Rs.450/- upto sixty days from the day of Preclosure/Swap/Matured/Customer Induced cancellations.
Outstation Cheque Charges NA
Changing Fixed Rate to Floating & Vice versa NA
Non Refundable Fee NA
Conversion Charges NA
Charges on Duplicate NDC 2 & 25 Rs.500/- per LAN
Prepayment Statement Charges Rs.200/-
Disbursement Cheque Revalidation Rs.300/-

GST, as notified by the Government of India, is applicable on all fees, interest and other charges and is subject to change as per relevant regulations of the Government of India.

Terms and conditions apply.

All loans are disbursed at the sole discretion of Reliance Commercial Finance Limited. All information herein is subject to change without notice. Under no circumstances cash, bearer or blank cheque or kind should be given to any executive in connection with the loan application. Kindly note that all post dated cheques and transaction charge cheques should be crossed and issued in favour of “Reliance Commercial Finance Limited”.

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