Bajaj Finance Loans - Fees and Charges

Pre-payment Charges

• Term Loan: Up To 4.72% (Inclusive of Applicable Taxes) on the Outstanding Loan Amount as On the Date of Full Pre-Payment.

• Flexi Term Loan (Flexi Dropline): Up To 4.72% (Inclusive of Applicable Taxes) On the Outstanding Loan Amount as on the Date of Full Pre-Payment.

• Flexi Hybrid Term Loan: Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

• Part Pre-payment: Up to 4.72% (Inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part Pre-Payment.

• Not Applicable for Flexi Term (Dropline) Loan and Flexi Hybrid Term Loan.

Annual Maintenance Charges (AMC)

• Term Loan: Not Applicable

• Flexi Term (Dropline) Loan: Up to 0.295 % (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges

• Flexi Hybrid Term Loan: Up to 0.472% (Inclusive of applicable taxes) of the Dropline limit during Initial Tenure. Up to 0.295% (Inclusive of applicable taxes) of Dropline limit during Subsequent Tenure

Penal Charges

Delay in payment of instalment(s) shall attract Penal Charge at the rate of up to 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Bounce Charges

₹700 to ₹1,200 per bounce

“Bounce Charges” shall mean charges levied on each instance in the event of: (i) dishonour of any payment instrument irrespective of whether the customer subsequently makes the payment through an alternate mode or channel on the same day; and/or (ii) non-payment of instalment(s) on their respective due dates where any payment instrument is not registered/furnished; and/or (iii) rejection or failure of mandate registration by the customer’s bank

Stamp Duty

Payable as per state laws and deducted upfront from loan amount.

Flexi Facility Charge

• Term Loan: NA

• Flexi Loans: Up to ₹1,999 to up to ₹18,999 (Inclusive of Applicable Taxes)

Will be deducted upfront from loan amount.

Principal Holiday Facility Fees

Principal Holiday (as applicable below) -

• Up to ₹1,999 (Inclusive of applicable taxes) for loan amount less than ₹2,00,000.

• Up to ₹3,999 (Inclusive of applicable taxes) for loan amount between ₹2,00,000 and 3,99,999.

• Up to ₹5,999 (Inclusive of applicable taxes) for loan amount between ₹4,00,000 and ₹5,99,999.

• Up to ₹6,999 (Inclusive of applicable taxes) for loan amount between ₹6,00,000 and ₹9,99,999.

• Up to ₹7,999 (Inclusive of applicable taxes) for loan amount ₹10,00,000 and above.

   

Note-

The above mentioned Principal Holiday Facility Fees charges are inclusive of applicable taxes.

The above principal holiday facility fees will be deducted upfront from loan amount.

Loan amount includes approved loan amount, Insurance Premium and VAS Charges.

Interest Rate

11%  - 19%

Processing Fee

Up to 2.95% of the loan amount (inclusive of applicable taxes)

Pre-payment charges

Full prepayment

• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the outstanding loan amount as on the date of such full prepayment.

• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the dropline limit as per the repayment schedule as on the date of full prepayment.

• Flexi Hybrid Term Loan: Up to 4.72% (inclusive of applicable taxes) of the dropline limit as per the repayment schedule as on the date of full prepayment.

Part prepayment

• Term Loan: Up to 4.72% (inclusive of applicable taxes) of principal loan amount prepaid on the date of such part pre-payment.

• Not applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Term Loan

Penal Charge

Delay in payment of instalment(s) shall attract Penal Charge at the rate of 36% per annum per instalment from the respective due date until the date of receipt of the full instalment(s) amount.

Legal & Incidental Charges

Recovery of charges

Stamp Duty (as per respective state)

Payable as per state laws and deducted upfront from the loan amount

Bounce Charges

₹1500/- per bounce.

“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason

AMC (Annual Maintenance Charges)

Term Loan: Not Applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (Inclusive of applicable taxes) of the Dropline limit (as per the repayment schedule) on the date of levy of such charges.

Flexi Hybrid Loan: Up to 0.59% (Inclusive of applicable taxes) of the Dropline limit during Initial tenure. Up to 0.295% (Inclusive of applicable taxes) of Dropline limit during Subsequent tenure

Flexi Facility Charge

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline) - Up to ₹999/- (inclusive of applicable taxes)

Flexi Hybrid Loan (as applicable below):

• Up to ₹1,999/- (inclusive of applicable taxes) for loan amount less than ₹2,00,000/-

• Up to ₹3,999/- (inclusive of applicable taxes) for loan amount from ₹2,00,000/- to ₹3,99,999/-

• Up to ₹5,999/- (inclusive of applicable taxes) for the loan amount from ₹4,00,000/- to ₹5,99,999/-

• Up to ₹6,999/- (inclusive of applicable taxes) for the loan amount from ₹6,00,000/- to ₹9,99,999/ -

• Up to ₹7,999/- (inclusive of applicable taxes) for the loan amount of ₹10,00,000/- and above

*The above flexi facility charges will be deducted upfront from the loan amount.

*Loan amount includes approved loan amount, insurance premium and VAS charges.

Interest Rate

11%  - 19% per annum

Processing Fee

Up to 2.95% of the loan amount (inclusive of applicable taxes)

Pre-payment charges

Full prepayment

• Term Loan: Up to 4.72% (inclusive of applicable taxes) of the outstanding loan amount as on the date of full prepayment

• Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment

• Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment

Part prepayment

• Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment

• Not applicable for Flexi Term Loan (Flexi Dropline) and Flexi Hybrid Loan

Penal Interest

Delay in payment of monthly instalment shall attract penal interest at the rate of 36% per month on the monthly instalment outstanding, from the respective due date until the date of receipt of the monthly instalment.

Stamp Duty

Payable as per state laws and deducted upfront from the loan amount

Broken period interest/ pre-EMI interest

Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s), which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:

• For Term Loan: Deducted from the loan disbursement

• For Flexi Term Loan: Added to the first instalment

• For Flexi Hybrid Loan: Added to the first instalment

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.

Cheque Bounce Charges

In case of default of repayment instrument, ₹1,500 per bounce will be levied.

AMC (Annual Maintenance Charges)

Term Loan: Not Applicable

Flexi Term Loan (Flexi Dropline): Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such charges

Flexi Hybrid Loan:

• Up to 0.590% (inclusive of applicable taxes) of the total withdrawable amount during initial tenure

• Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure

Flexi Facility Charge

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline)- Up to ₹999/-

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Up to ₹999/- (inclusive of applicable taxes)

Flexi Hybrid Loan (as applicable below):

• Up to ₹1,999/- (inclusive of applicable taxes) for loan amount less than ₹2,00,000/-

• Up to ₹3,999/- (inclusive of applicable taxes) for loan amount from ₹2,00,000/- to ₹3,99,999/-

• Up to ₹5,999/- (inclusive of applicable taxes) for the loan amount from ₹4,00,000/- to ₹5,99,999/-

• Up to ₹6,999/- (inclusive of applicable taxes) for the loan amount from ₹6,00,000/- to ₹9,99,999/-

• Up to ₹7,999/- (inclusive of applicable taxes) for the loan amount of ₹10,00,000/- and above
  

*The Flexi Facility charges above will be deducted upfront from the loan amount

*Loan amount includes approved loan amount, insurance premium, VAS charges.