Penal Charges on Loan Accounts
Penal Charges:
Penal Charge (as tabulated below) will be recovered in case of default other than normal interest rate, for the default events:
- Penal charges as mentioned above shall be applicable on all credit facilities irrespective of nature, type etc.
- The penal charges shall be levied on the default amount (excluding penal charges levied previously) in the account as on the date of default in case of non-payment of repayment obligations/overdrawing in accounts
- Charges shall be levied only for the default period on pro rata basis.
- Notification
August 1, 2026
July 25, 2026
September 22, 2025
September 10, 2025