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- Charges & Fees w.e.f. 1st April, 2026 (for loans sanctioned on or after 1st April 2026)
Charges & Fees
As per Agreement Schedule- III Fees & Charges
| Service Charges for Car Finance, Two Wheeler & Top Up Loans | ||
|---|---|---|
| S.No. | Description | Charges |
| 1 | Part / Full Pre-payment charges on Principal Outstanding |
5.21% for part/full prepayment within and 1/2 of original loan tenure for each part prepayment/full
prepayment
3% after completion of 1/2 of original loan tenure (Effective for loans sanctioned on or after 1st April 2026) |
| 2 | Issue of Duplicate Copy of the Agreement/Duplicate NOC/ NOC of duplicate Registration Certificate | Nil |
| 3 | Cancellation of Contract (other than foreclosure and prepayment charges) at specific request of the Borrower and agreed by the Lender | Rs.2000 + Interest calculated at Customer ROI for number of days between the date of disbursement and the date of receipt of funds, at specific request from customer for cancellation of contract - beyond mandatory cooling off period, if applicable. |
| 4 | Clearing Mandate swap Charges | Rs. 400 per instance |
| 5 | Repayment Schedule/Account Outstanding Break up statement | For Physical copy Rs 300 per instance (No charges for online copy through email/through customer portal) |
| 6 | LPG/CNG NOC | Rs.350 per instance |
| 7 | Statement of accounts /Foreclosure report - Physical | For Physical copy Rs 300 per instance (No charges for online copy through email/through customer portal) |
| 8 | NOC for Interstate Transfer | Rs.350 per instance |
| 9 | NOC for Commercial to personal use | Rs.350 per instance |
| 10 | NOC to Convert from Private to commercial | Rs.350 per instance |
| 11 | Legal / Collections / Incidental Charges | At Actuals |
| 12 | Repossession Charges |
For Car Finance/Top-up: At actuals (Max Rs. 50,000) For Two Wheeler Finance/Top-up: At actuals (Max Rs. 15,000) |
| 13 | Amalgamation / Transfer of Equity / Assignment |
For Car Finance/Top-up: Rs 3000/- For Two Wheeler Finance/Top-up: Rs 1000/- |
| 14 | Dishonour Charges per Clearing Mandate | Rs.750 per instance |
| 15 | Change in EMI date | Rs.1000 per change+ Differential interest for the number of days at contractual rate will be charged |
| Upfront fees, Processing Fees, etc (Car Finance) | ||
| S.No. | Description | Charges |
| 1 |
Processing charges/Documentation charge/Credit Administration charge (Documentation charge includes RTO charges, NACH charges, RCU Charges, valuation charges, etc as applicable) |
Processing charges:(non refundable) 3% of loan amount Documentation charges (non refundable): Rs. 7,500 Stamping charges, CERSAI, etc at actuals (non refundable). |
| Upfront fees, Processing Fees, etc (Two Wheeler Finance) | ||
| S.No. | Description | Charges |
| 1 |
Processing charges/Documentation charge/Credit Administration charge (Documentation charge includes RTO charges, NACH charges, RCU Charges, valuation charges, etc as applicable) |
Processing charges:(non refundable) 6% of Loan amount Documentation charges (non refundable) : Rs. 4,000 Stamping charges, CERSAI, etc at actuals (non refundable). |
| Penal Charges for Car Finance, Two Wheeler & Top Up Loans | ||
| S.No. | Description | Charges |
| 1 | Delayed Payment / Late Payment Charges on Overdue | 18% p.a |
| 2 | Charges for Breach of Other Material Terms and Conditions including Event of Default and/or any other conditions stipulated as mentioned in any loan/facility agreement or Sanction Letter or any other agreement | Penal charges 2%p.a or proportionately shall become due & payable on underlying exposure (from the day of breach) |
| Service/Other Charges for Loan Against Property | ||
| S.No. | Description | Charges |
| 1 | Issue of Duplicate copy of the Agreement / Duplicate NOC | Nil |
| 2 | Cancellation of Contract (other than foreclosure and prepayment charges ) at specific request of the Borrower and agreed by the Lender |
For undisbursed cases Rs 25000 For Disbursed cases - Rs.25000/- + Interest calculated at Customer ROI for number of days between the date of disbursement and the date of receipt of funds, at specific request from customer for cancellation of contract. |
| 3 | Clearing Mandate swap Charges | Rs.400 per instance |
| 4 | Repayment Schedule/Account Outstanding Break up statement |
No charges if taken through online channels/email For Physical copy Rs 300 per instance |
| 5 | Part / Full Pre-payment charges |
For Individual, Micro and Small Enterprises (MSEs) loans (for loans sanctioned on or after Jan 1, 2026) No pre-payment or foreclosure charges will be levied. A non-individual will be qualified as an MSE, only after submission of valid proof (such as Udyam Registration Certificate) at the time of sanction and during pre-payment/ foreclosure of loan. For other loans not classified as above(i.e., other than individual and MSE). Nil charges for part prepayment for amount up to 25% of the principal outstanding allowed only once, after completion of 12 months tenure, next part payment option to be exercised with a gap of 12 months from the date of last part-payment and 4% charges apply on amount prepaid in excess of 25% of the principal outstanding at the time of prepayment. In case of full prepayment, 4% on amount being prepaid and, on all amounts, paid towards prepayment within the last 12 months of the date of full prepayment for loan availed by all non-individual borrowers for all purposes. |
| 6 | Statement of Account ( Physical copy) |
No charges if taken through online channels/email For Physical copy Rs 300 per instance |
| 7 | Foreclosure Report |
No charges if taken through online channels/email For Physical copy Rs 300 per instance |
| 8 | Legal / Collections / Incidental Charges | At Actuals |
| 9 | Switch charges for rate reduction | 0.50% of Principal Outstanding |
| 10 | Switch charges from Floating to Fixed rate | 1 % of Principal Outstanding |
| 11 | Amalgamation / Transfer of Equity/Assignment | 1 % of Principal Outstanding |
| 12 | Dishonour Charges per Clearing Mandate | Rs.750 per Clearing Mandate |
| 13 | Non Utilisation Charges |
2% p.a of undisbursed amount Dropline finance (Flexi Lap): If average utilization of operating limits for a quarter is below 50% of sanctioned limits, 2% p.a of unutilised amount |
| 14 | Annual maintenance charges | Flexi LAP: 0.5% on the Operating Limit |
| 15 | Rebooking of Loans (due to change in borrowing structure, change of property / Asset / Collateral etc.) | 1 % of Principal Outstanding |
| 16 | Repossession Charges | At actuals, max Rs. 75,000 per asset |
| 17 | Change in EMI date | Rs. 1000 per change+ Differential interest for the number of days at contractual rate will be charged |
| 18 | List of Documents | Rs.1000 |
| Upfront fees, Processing Fees, etc (Loan Against Property) | ||
| S.No. | Description | Charges |
| 1 | Processing fees/Documentation charges |
Processing - upto 2% (non refundable) Application login fees - Rs. 6000 per property. (non refundable) |
| 2 | Cersai Charges | At actuals |
| 3 | ROC Filing Charges | At actuals |
| 4 | Stamping charges | At actuals Per Property |
| Penal Charges for Loan Against Property | ||
| S.No. | Description | Charges |
| 1 | Delayed Payment / Late Payment Charges on overdue’s | 18% p.a |
| 2 | Non-Creation of Security in favour of the Company by the Borrower/Security Provider. | Penal charges at 6% p.a or proportionately for any delay beyond stipulated days as per Sanction letter /Facility Agreement |
| 3 | Documents under deferral not submitted on time | 1% p.a (15 Days post expiry of due date of Deferral) |
| 4 | Charges for Breach of Other Material Terms and Conditions including Event of Default and/or any other conditions stipulated as mentioned in any loan/facility agreement or Sanction Letter or any other agreement | Penal charges 2%p.a or proportionately shall become due & payable on underlying exposure (from the day of breach) |
| Service/Other Charges for Dealer Finance Loans | ||
| S.No. | Description | Charges |
| 1 | Dishonour Charges per clearing mandate | Rs.750/- per Clearing Mandate |
| 2 | Inventory audit fee | Upto Rs 10,000 + GST - per location |
| 3 | Pre Payment /Foreclosure charges (INF Product) | 4% on Principal outstanding + GST |
| 4 | Pre Payment /Foreclosure charges ( Term Loan Product - floating rate)- |
For Individual, Micro and Small Enterprises (MSEs) loans(for loans sanctioned on or after Jan 1, 2026): No pre-payment or foreclosure charges will be levied. A non-individual will be qualified as an MSE, only after submission of valid proof (such as Udyam Registration Certificate) at the time of sanction and during pre-payment/ foreclosure of loan. For other loans not classified as above Nil charges for part prepayment for amount up to 25% of the principal outstanding allowed only once, after completion of 12 months tenure, next part payment option to be exercised with a gap of 12 months from the date of last part-payment and upto 4% charges apply on amount prepaid in excess of 25% of the principal outstanding at the time of prepayment. In case of full prepayment, upto 5.21% + GST on amount being prepaid and, on all amounts, paid towards prepayment within the last 12 months of the date of full prepayment for loan availed by all non-individual borrowers for all purposes (other than MSE). |
| 5 | Switch charges for rate reduction | 0.5% of principal outstanding +GST |
| 6 | Switch charges from Floating to Fixed rate | 1 % of principal outstanding +GST |
| 7 | Commitment charges ( for Drop line Finance facility ) - If average utilization is below 50% of operating limits, | upto 2 % p.a of unutilised amount + GST |
| 8 | Non utilisation charges ( INF Product) If average utilization is below 50% of operating limit | upto 2% p.a of unutilised amount +GST |
| 9 | Legal/Collection/incidental charges - | At actuals |
| 10 | Repo Charges | At actuals |
| 11 | Limits Against clearing charges | upto 0.20% + GST |
| Upfront fees, Processing Fees, etc (Dealer Finance) | ||
| S.No. | Description | Charges |
| 1 | Processing Fee | Upto 2% + GST |
| 2 | Renewal Processing Fee | Upto 0.50% + GST |
| 3 | Stamping charges | At actuals |
| 4 | Adhoc processing fee / Limits Against clearing charges | upto 0.20% of adhoc amount + GST |
| 5 | Valuation Charges | At actuals |
| 6 | Title Search Charges | At actuals |
| 7 | ROC Filing Charges | At actuals |
| 8 | CERSAI Charges | Rs 100 + GST per security |
| Penal Charges for Dealer Finance Loans | ||
| S.No. | Description | Charges |
| 1 | Audit Non Compliance (ANC) | Upto 8% p.a on entire utilization for the month, based on % of shortfall |
| 2 | Curtailment charges | 18% per annum on the curtailment amount considered. |
| 3 | Overdue Charges for term loans | 18% per annum on the overdue amount. |
| 4 | Overdue Charges for inventory finance facilities / Trade advance / Drop line finance facilities | 15% per annum on the overdue amount |
| 5 | Delay/non-submission of stock statement, deferral documents or renewal documents, non-compliance with documentation condition of the credit facility / delay in charge creation in ROC | 1% p.a. of Sanctioned Limits |
| 6 | Non-compliance with mortgage creation or any material breach in sanctioned condition | 6% p.a of Sanctioned Limits |
| 7 | Delayed/Non-submission of insurance policy duly endorsed in favour of KMP | Rs.10,000/- per month. |
| Indicative ROI for Loans ** | ||
| 1 | New Car Loan (NC+PV) ROI | Upto 25% |
| 2 | Used Car Loan ROI | Upto 24% |
| 3 | Top Up on Car Loan ROI | Upto 25% |
| 4 | Loan Against Property ROI | Upto 17% |
| 5 | Dealer Finance / Wholesale finance ROI | Upto 18% |
| 6 | Two Wheeler Loan ROI | Upto 32% |
| 7 | Top Up on Two wheeler loan | Upto 32% |
* These charges will be collected upfront / deducted from disbursement amount.
w.e.f. 1st April, 2026 (for loans sanctioned on or after 1st April 2026)
Note:
1. Taxes/GST will be levied separately as may be applicable from time to time
2. For details of interest gradation approach, please visit https://primeloans.kotak.com/policies.htm
3. Penal charges in accordance with RBI circular.MCS.REC.61/01.01.001/2023-24 dated December 29, 2023 on ‘Fair Lending Practice - Penal Charges in Loan Accounts’
**Disclaimer: Loan offer is from Kotak Mahindra Prime Ltd, a subsidiary of Kotak Mahindra Bank Ltd. Loans available at select locations. Loan sanction and disbursement will be subject to complete documentation and credit approval at sole discretion of Kotak Mahindra Prime Ltd. and subject to guidelines issued by RBI from time to time. Taxes as applicable from time to time. KMP may engage the services of marketing agents for the purpose of sourcing loan assets. T&C apply.