|Schedule of Charges - TDF (Secured Business)|
|Non- submission of Monthly/ quarterly Stock & Book Debt Statements||15th of the following month/ quarter||Rs 5000 p.m. (till statement is submitted)|
|Non- submission of Insurance Policy with Kotak Mahindra Bank as Loss Payee||Before renewal. In case of renewed policy: on expiry of existing policy||Rs. 1500/- per month until the policy is submitted and in case of renewal debit the customer's account on expiry date for expenses to bring necessary insurance in place|
|Non submission of Provisional/Unaudited Financial for the year ending 31st March||On or before 31st August every year||Rs. 5000/- per month until the financials are submitted|
|Non- submission of Audited Financial for the year ending 31st March||On or before 31st December every year||Rs. 5000/- per month until the financials are submitted|
|Monitoring of Covenants/ Events of default||As per sanction terms||Rs.1500/- for every event of default|
|Overdue Charges/ Default/ Penal Rate / Audit Shortfall||On amounts remaining unpaid on due date/ On occurrence of any event of default||3.00% p.m., compounded monthly on outstanding/unpaid amount|
|Non- submission of Net Worth Statements||On or before 31st December every year||Rs. 5000/- per month until the Statement is submitted|
|Non- submission of End Use Certificate||On or before 31st May every year||Rs. 5000/- per month until the certificate is submitted|
|Foreclosure Charges||As per Borrowers request||3.00% on the principal outstanding|
|Part Prepayment Charges||As per Borrowers request||3.00% of the amount prepaid|
|Closure Fees||As per Borrowers request||a. In the event, the Borrower closes the working capital facility/ies account/s within 6 months of the first disbursal/utilization of the said facility/ies, the borrowers shall pay to the bank closure fee at the rate of 3.00% of the limit/s sanctioned.|
|b. In the event, the Borrower closes the working capital facility/ies account/s after 6 months of the first disbursal/utilization of the said facility/ies, the borrowers shall pay to the bank closure fee at the rate of 2.00% of the limit/s sanctioned.|
|Temporary Overdraft (TOD) Setting up fees||As per Borrowers request||Maximum up to Rs.25000/- for every request made by the Borrower or Approved at the time of TOD sanction.|
|Adhoc/Overdraft Setting up fees||As per Borrowers request||Minimum Rs.25000/- for every request made by the Borrower or Approved at the time of Adhoc/Overdraft approval.|
|Stamp duty, documentation & External agency/firm Charges/fees for outsourced activities like, Registration, Title Search, ROC Search, Valuation, Insurance, Audits etc.||As an when applicable||All charges/fees of external agencies/firms on actual amounts expended shall be borne by the Borrower (debited to the account of borrower).|
|Low Churning Penalty||Monthly||2% of Average Utilisation if churning is less than 40% of the limit.|
|Average Utilization is < 50%||Monthly||Rs.10000/- p.m.|
|Increase in Rate of Interest||Quarterly||If the account conduct is unsatisfactory for reasons like poor average credit churning of 25 % and/or high average utilization of 95 % or above during review period, 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 %|
|Processing Fees / Service Charges||Up to 2% of Limit Approved for new proposal and enhancement & Up to 1% during renewal|
|Legal Charges||As and when applicable||All charges/fees of external agencies/firms on actual amounts expended shall be borne by the Borrower (debited to the account of borrower).|
|BG/LC Commission||Maximum Up to 3%|
|Deferrals non-submission charges||Rs. 2500 / Month / CRN (15 Days post Expiry of due date of Deferral)|
|Late Renewal Fee||Renewal after 1 Month Post Original Expiry Date / CRN||Rs. 5000 / Month / CRN|
|Change / Part release of collaterals - Charges per property as per Customer request||As and when requested by customer||Rs.10,000/- per instance or approved|
• Respective Business Head or National Sales Manager can approve any deviation to above charges.
• Business Head can further delegate & define approval authority at ZSM/RSM/ASM/State Head/RM level for BG/LC commission & PF.
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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.
Reviewed on 07/30/2022
CEO – Elastochemie Impex Pvt. Ltd.
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Reviewed on 08/02/2022
CEO – Walko QSR Company Pvt. Ltd.
We are very happy with the Kotak Working Capital services. Their guidance on every aspect makes us want to continue working with them.
Reviewed on 07/27/2022
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