| Type
|
Deadline
|
Penalty/Charges/Fees Amount
|
| 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
|
Notes:
• 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.
|
