Rural Individual Loans Interest Rates and Charges

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Rural Individual Loan
Rates and Charges

Rates & Charges

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Rural Individual Loan Interest Rates

RIL interest rates are the proportion of the loan amount a financial institution charges as interest to the borrower. The rate is usually expressed as an annual percentage. For RIL, the interest rate is applicable on the principal amount.
Interest rate @: 25% to 27%

Rural Individual Loan Processing Fees

The processing fee is the amount charged on your Loan application as a one-time charge for the entire loan process. The processing fees usually comprise the charges required to review your Credit Bureau score, check for loan approval, and other administrative costs.

Processing Fee

2% + GST

Penal Charges

Particulars	Charges
Default in payment of interest and/ or principal amounts	3% per month on EMI payment default amount (Annualized Penal Charge of 36%)
Charges for Dishonour of Payment Instrument/ Mandate	Rs. 600 per instrument per instance
Mandate Rejection Service Charges (Per instance)	Rs. 400 (Charges will be levied if new mandate form is not registered within 30 days from the date of rejection of previous mandate form by Borrower's bank for any reasons whatsoever.)

Rural Individual Loan Other Charges

At Tata Capital, we offer competitive loan interest rates and levy nominal loan charges, including processing fees. You can use RIL EMI calculator to determine your EMI payments and make the repayment accordingly.

Particulars	Charges
Cancellation Charges	2% of loan amount + GST
Part Prepayment Condition & Charges	Request received for loan with more than 6 future EMI pending: 4.5% of loan amount + GST Request received for loan with less than or equal to 6 EMI pending: No charges
Foreclosure Charges (on Initial Facility)	Request received for loan with more than 6 future EMI pending: 4.5% of loan amount + GST Request received for loan with less than or equal to 6 EMI pending: No charges
Stamp Duty	At Actuals

Note: GST, other government taxes and levies as applicable, will be payable on all fees and charges

Disclaimer

The fees/charges indicated above are subject to revision at Tata Capital’s discretion from time to time.
For the definitions of the above charges, please refer to the Master Terms & Conditions sheet.
Soft copies of documents mentioned in the table above will be provided free of cost. For hard copies, please refer to the above table for the applicable fees & charges.*