Commercial Vehicle Loan Interest Rates and Charges

IIFL Commercial Vehicle Loan is available at attractive interest rates starting from 12%. The rates vary according to the amount and tenure of the loan.

Given below is the list of fees and charges levied upon your Commercial Vehicle Finance during your loan tenure:

Processing Fee

  • Rs. 4,500 to Rs. 8,000 or 1% of loan amount whichever is higher

Pre-payment Charges

  • 4% pre-payment fee in any year after the first year
  • 6% pre-payment fee within the first year

Late fee

  • Penal Interest - 3% per day post due date

Other Charges

TypeCharges
Bounce Cheque ChargesRs. 500 for each PDC/ECS bounce
Cheque/ECS swap chargesRs. 500
No dues certificateOriginal would not attract any charges.
Duplicate copy would attract a fee of Rs. 500
Document Retrieval ChargesRs. 1000
Duplicate Statement/Repayment ScheduleRs. 500
Repossession/ Parking Charges/ Legal RecoveryAs per actual
Valuation ChargesAs per actual
Stamp Duty/ChargesAs per actual
Loan CancellationRs. 3000
Collection visit chargesRs. 300

Note: GST and other govt. taxes extra as applicable.

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