Commercial Vehicle Loan Interest Rate - Check Vehicle Finance Fees & Charges

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Commercial Vehicle Finance by Kotak Mahindra Bank

Fees & Charges

Fees and Charges - GSFC : CV
Interest Rate	Min : Prevailing MCLR Or Reference Rate
Interest Rate	Max : 24%
Loan Processing Charges	Upto 3% of Loan amount
Payment Handling Charges	2000 + GST
Documentation Charges	Upto Rs. 5000 per apac
Stamping Charges	At Actuals
Credit Administration Charges	Upto Rs. 6250/- inclusive of GST
Loan Cancellation Charges	2500 per agreement
Penal Charges	Amounts standing unpaid on respective due dates shall attract penal charge at 8% (plus applicable taxes) per annum (to be charged for actual no. of days) on overdue amount.
Dishonour Charges Per Instance	Rs. 750.00
Swap Charges( Replacement of PDCs)	Upto Rs. 500 per Swap per Instance
Changes in Installment Amount/ Tenor	1000/-
Prepayment Interest / Forclosure Charges (Non MSE) (Individual/ Non Individual) (Part/ Full prepayment)	4% foreclosure charges/ pre-payment charges as per reducing balance method are applicable on the outstanding amount (Utilized limit) in case of non-revolving loans/facilities and on sanction limit for revolving loans/facilities at the time of closure.
Foreclosure Charges for MSE	2% foreclosure charges/ pre-payment charges are applicable on the outstanding amount (Utilized limit) in case of non-revolving loans/facilities and 2% on Sanctioned limit for revolving loans/facilities at the time of closure. In revolving facilities at the time of renewal if customer does not wish to continue than such foreclosure charges are not applicable
	No Foreclosure charges shall be applicable to MSE (Micro and Small Enterprise) borrowers in case of closure of any floating rate loans.
	No Foreclosure charges shall be applicable to MSE (Micro and Small Enterprise) in case of closure of fixed rate loans up to sanctioned limit of INR 50.00 lakh.

Duplicate Issue of NOC	Rs. 500/-
Charges applicable in case customer requests for copies of records pertaining to his transactions ( SOA / Amortization Schedule)	Rs. 500/-
Valuation Charges	As per actual
Repossession Charges	At Actual + GST
Duplicate Foreclosure Statement Charges	Rs. 500/-
NOC for National Permit	Rs. 500/-
NOC for State Permit	Rs. 500/-
NOC for Change in Body Type	Rs. 500/-
Rebooking of Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.)	Rs. 2,500/-
Change in Installment Due Date	Rs. 1,000/-
Assignment	2% of O/s Principal or Rs. 10000/- whichever is less
Change in Property / Asset / Collateral	Rs. 2,000/-
Copy of Any Property/Loan Document	Rs. 1,000/-
Asset Verification Charges - Immovable Assets	At Actuals
Legal / Incidental Charges*	At Actuals
NOC to Convert From Private to Commercial Registration	Rs. 2,000/-
NOC to Convert From Commercial to Private Registration	Rs. 2,000/-

You are never too far away from quick, efficient banking services. Locate your nearest branch or an ATM.

For assistance, call us at 1800 209 5600 from Monday to Saturday (9:30 am to 6:30 pm, excluding holidays)

Your opinion is important to us. We'll check how we can use it to improve our services

You are never too far away from quick, efficient banking services. Locate your nearest branch or an ATM.

For assistance, call us at 1800 209 5600 from Monday to Saturday (9:30 am to 6:30 pm, excluding holidays)

Your opinion is important to us. We'll check how we can use it to improve our services

Commercial Vehicle Financing

Fees & Charges

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Commercial Vehicle Financing

Fees & Charges

Ready to take the next step?

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