6% of foreclosure loan amount if within lock in period of 12 months from the date of agreement and 5% on foreclosure loan amount otherwise (plus GST and other applicable statutory levies).
1. In order to foreclose the business loan a written request needs to be submitted or a query under Foreclosure Statement, Only post completion of 6 EMI's and by serving a notice period a foreclosure statement will be issued to you.
2. The time taken to issue a foreclosure statement is 15 working Days. 3. No Waiver can be offered on the Applicable Foreclosure Charges (if any),Lock-in period & Notice period for issuance of the Foreclosure Statement, as it is all clearly mentioned in the Loan Agreement signed by you, prior to the Loan Disbursement.