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Lease Rental Discounting Fees & Charges

Axis Bank offers Lease Rental Discounting to help you meet essential expenses such as education, marriage, and healthcare. The fees and charges associated with this service are transparent and clearly stated. Explore the details of these fees and charges below.

 

LAP – Asset Power

Overdraft against property

Lease Rental Discounting

Fixed Interest Rate

Part Payment ChargesPart payment charges on term loan:
  • Upto 25% of the principal outstanding repaid in the quarter - NIL Charges
  • More than 25% of principal outstanding repaid in a quarter - 3% charges on excess amount repaid (Total amount repaid less 25% of the principal outstanding).

The quarter refers to calendar quarter.

Above mentioned charges are applicable to both individual and non-individual

No Lock-in period for making part payment of the loan.

NAPart payment charges on term loan:
  • Upto 25% of the principal outstanding repaid in the quarter - NIL Charges
  • More than 25% of principal outstanding repaid in a quarter - 3% charges on excess amount repaid (Total amount repaid less 25% of the principal outstanding).

The quarter refers to calendar quarter.

Above mentioned charges are applicable to both individual and non-individual

No Lock-in period for making part payment of the loan.

Foreclosure charges

4% on the principal outstanding

No Lock-in period for foreclosing the loan.

2% of the opening overdraft limit set for the specific year (for yearly DOD); 2% of the opening overdraft limit set for the specific month (for Monthly DOD)

No Lock-in period for foreclosing the loan.

4% on the principal outstanding

No Lock-in period for foreclosing the loan.

In case of Micro and Small Enterprises (MSE) customers, no prepayment charges (Part or Full payment) are applicable if - Loan amount is up to Rs.50 Lakhs under Fixed rate loans.

For OD no pre-payment charges shall be applicable if the borrower intimates Axis Bank of its intention not to renew the facility within 30 days of due date provided that the facility gets closed on or before the due date.

Floating Interest Rate

Part Payment Charges

1.If primary applicant is a non-Individual other than MSEs below part payment charges on term loan will be applicable:

  • Upto 25% of the principal outstanding repaid in the quarter - NIL Charges
  • More than 25% of principal outstanding repaid in a quarter - 3% charges on excess amount repaid (Total amount repaid less 25% of the principal outstanding).

The quarter refers to calendar quarter

2.If primary applicant is an Individual with end use as business or other than business: NIL (irrespective of the co-applicant constitution)

3. If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution)

No Lock-in period for making part payment of the loan. 		NA 1.If primary applicant is a non-Individual other than MSEs below part payment charges on term loan will be applicable:
  • Upto 25% of the principal outstanding repaid in the quarter - NIL Charges
  • More than 25% of principal outstanding repaid in a quarter - 3% charges on excess amount repaid (Total amount repaid less 25% of the principal outstanding).
The quarter refers to calendar quarter

2.If primary applicant is an Individual with end use as business or other than business : NIL (irrespective of the co-applicant constitution)

3. If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution)

No Lock-in period for making part payment of the loan.
Foreclosure charges
  • If primary applicant is a non-Individual other than MSEs: 4% on Principal outstanding is applicable.
  • If primary applicant is an Individual with end use as business or other than business : NIL (irrespective of the co-applicant constitution)
  • If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution)
No Lock-in period for foreclosing the loan. 		1. If primary applicant is a non-Individual other than MSEs: 2% of the opening overdraft limit set for the specific year (for yearly DOD); 2% of the opening overdraft limit set for the specific month (for Monthly DOD)

2. If primary applicant is an Individual with end use as business or other than business: Nil (irrespective of the co-applicant constitution

3. If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution)

No Lock-in period for foreclosing the loan. 		1. If primary applicant is a non-Individual other than MSEs: 4% on Principal outstanding is applicable.

2. If primary applicant is an Individual with end use as business: NIL (irrespective of the co-applicant constitution)

3. If primary applicant is an MSEs: NIL (irrespective of the coapplicant constitution)

No Lock-in period for foreclosing the loan.

For Floating Rate – Individual (Business purpose or other than business) & MSE – No Part Payment & Foreclosure charges shall be applicable irrespective of the source of funds and without any minimum lock-in period.

For OD no pre-payment charges shall be applicable if the borrower intimates Axis Bank of its intention not to renew the facility within 30 days of due date provided that the facility gets closed on or before the due date.

Scheme Asset Power (Loan Against Property) Overdraft Against Property Lease Rental Discounting
Total Processing Fee Charge
  • Up to 1% of the loan amount or ₹10,000 (whichever is higher) + GST (as applicable).
  • An upfront processing fee of ₹5,000 plus GST shall be collected at the time of application submission. The balance processing fee, as applicable, shall be collected at the time of loan disbursement.
  • The processing fee is a non-refundable fees - collected by the Bank for the purpose of reviewing the loan application and same is independent of the outcome of such assessment.
  • Up to 1% of the loan amount or ₹10,000 (whichever is higher) + GST (as applicable).
  • An upfront processing fee of ₹5,000 plus GST shall be collected at the time of application submission. The balance processing fee, as applicable, shall be collected at the time of loan disbursement.
  • The processing fee is a non-refundable fees - collected by the Bank for the purpose of reviewing the loan application and same is independent of the outcome of such assessment.
  • Up to 1% of the loan amount or ₹10,000 (whichever is higher) + GST (as applicable).
  • An upfront processing fee of ₹5,000 plus GST shall be collected at the time of application submission. The balance processing fee, as applicable, shall be collected at the time of loan disbursement.
  • The processing fee is a non-refundable fees - collected by the Bank for the purpose of reviewing the loan application and same is independent of the outcome of such assessment.
Admin Charges Nil
Non utilization charges for overdraft facility (Applicable only for Straight line overdraft facility) NA If average quarterly utilization is <25% ofdrawing power then quarterly 0.10% will becharged on the difference between actual average utilization and expected utilization (i.e. 25%) NA
Renewal charge for overdraft facility (Applicable for Dropline and Straight line overdraft facility) NA 0.5% of the drawing power set or ₹5,000/- whichever is lower plus applicable GST should be charged at the time of each renewal of limit  NA
Duplicate Amortization Schedule issuance charges ₹250/- per instance ₹250/- per instance ₹250/- per instance
Charges on customer initiated request for copies of Document ₹500/- per document set ₹500/- per document set ₹500/- per document set
Duplicate Interest Certificate(Pov/Actual) Issuance charge ₹50/- per instance ₹50/- per instance ₹50/- per instance
No Due Certificate NA NA NA
Duplicate No Dues Certificate/NOC ₹250/- per instance ₹250/- per instance ₹250/- per instance
Solvency Certificate NA NA NA
Penal Charges Financial Default – 8% p.a. on the overdue amount (subject to aggregate penal charges not exceeding ₹1,00,000 (INR One lakh) or minimum of ₹300 (INR Three hundred) whichever is higher per instance

There shall be no capitalization of Penal Charges.

Note: In addition to the penal charge, the borrower will be required to pay the regular interest on overdue EMI / overdue interest/overdue principal which would be charged at contracted or applicable interest rate for the days it remains overdue.

Material Terms & Conditions
Financial Default - Non-payment of interest or principal / instalment on due date
Financial Default includes all types of payment or financial defaults / irregularities with respect to the loan account. 		Financial Default –
1) 8% p.a. on the overdrawn amount (subject to aggregate penal charges not exceeding ₹1,00,000 (INR One lakh) or minimum of ₹300 (INR Three hundred) whichever is higher per instance)
2) NIL

There shall be no capitalization of Penal Charges.

Note: In addition to the penal charge, the borrower will be required to pay the regular interest on overdue EMI / overdue interest/overdue principal which would be charged at contracted or applicable interest rate for the days it remains overdue

Material Terms & Conditions
Financial Default -
1. Overdrawn amount exceeding the Sanctioned limit and/or Drawing power, or Breach of Drawing Power
2. Expiry of limits with outstanding principal and/or interest
Financial Default includes all types of payment or financial defaults / irregularities with respect to the loan account. 		Financial Default – 8% p.a. on the overdue amount (subject to aggregate penal charges not exceeding ₹1,00,000 (INR One lakh) or minimum of ₹300 (INR Three hundred) whichever is higher per instance)

There shall be no capitalization of Penal Charges.
Note: In addition to the penal charge, the borrower will be required to pay the regular interest on overdue EMI / overdue interest/overdue principal which would be charged at contracted or applicable interest rate for the days it remains overdue.

Material Terms & Conditions
Financial Default - Non-payment of interest or principal / instalment on due date
Financial Default includes all types of payment or financial defaults / irregularities with respect to the loan account.
Stamp Duty & other statutory charges As per applicable laws of the state As per applicable laws of the state As per applicable laws of the state
Cheque Bounce Charges ₹500/- per instance ₹500/- per instance ₹500/- per instance
Cheque/Instrument swapping charges ₹500/- per instance ₹500/- per instance ₹500/- per instance
Duplicate statement issuance charges ₹250/- per instance ₹250/- per instance ₹250/- per instance
Issuance Charges for Photocopy of Title Deeds ₹500/- per document set ₹500/- per document set ₹500/- per document set
Credit Report Issuance Charges ₹50/- per instance ₹50/- per instance ₹50/- per instance
CERSAI Charges ₹50/- for Loans up to 5 lakhs
₹100/- for Loans above 5 lakhs		 ₹50/- for Loans up to 5 lakhs
₹100/- for Loans above 5 lakhs		 ₹50/- for Loans up to 5 lakhs
₹100/- for Loans above 5 lakhs
Equitable mortgage creation charges As applicable in the state As applicable in the state As applicable in the state
Equitable Mortgage Cancellation charges As applicable in the state As applicable in the state As applicable in the state
Switching Fees (Higher Floating Rate to Lower Floating Rate) Switching from the higher Floating Rate to Lower Floating Rate will attract an administrative charge of
Principal O/s at the time of ROI conversion Charges
Up to ₹10 Lacs ₹1,000/- +GST
₹10.01 Lacs to ₹30 Lacs ₹2,000/- +GST
₹30.01 Lacs to ₹75 Lacs ₹3,000/- +GST
₹75 Lacs ₹5,000/- +GST
Switching Fee (Higher fixed rate to lower Fixed rate) Switching from the Higher Fixed Rate to Lower Fixed Rate will attract a fee of 0.5% on outstanding principal with
minimum of ₹10,000/- The Lower Rate will be equal to the applicable carded interest rate only
Re- Pricing Charges Switching from the Floating Rate scheme to Fixed Rate scheme will attract a fee of 1% on the outstanding principal with a minimum of ₹10,000/-.

Switching from the Fixed Rate scheme to Floating Rate scheme will attract a fee of 2% on the outstanding principal.

*Goods and services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable). The above charges are subject to change and the same shall be updated on our website www.axis.bank.in accordingly.

APR Calculator

The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and loan origination charges.

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APR

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