E-Vehicle Loan - Rates & Charges
"Navigating
the Financial Landscape: Unveiling Our Comprehensive Rates and Charges to Empower
You".
At Fatafat Finance, we understand that transparency and clarity are paramount when it comes to your financial decisions. Our dedicated Rates and Charges section is designed to provide you with a comprehensive understanding of the costs associated with our financial products and services.
We believe in empowering our customers with knowledge, ensuring that you have all the information you need to make sound financial choices. We are committed to transparency, and our Rates and Charges section is a testament to this commitment. Whether you're considering a loan, opening a savings account, or exploring any of our financial products, our Rates and Charges section is your go-to resource. It's a reflection of our dedication to your financial well-being and your journey toward financial success.
E-vehicle Loan : Fees & Charges
An E-vehicle loan, like any other type of loan, typically comes with various fees and charges that borrowers need to be aware of. These fees and charges are in addition to the principal amount borrowed and the interest that accrues on the loan. Here's an explanation of some common fees and charges associated with E-vehicle loans:
| Type of Fee | Aplicable Charges |
|---|---|
| Documentation Charges* | UPTO ₹2000 |
| Premature Closure Charges (For Full Payment)* | UPTO 4% + GST* |
| Premature Closure Charges (For Part Payment)* | UPTO 2% + GST* |
| Delayed Instalment payment charge | 2% per month |
| Processing fees*(Non - refundable) | Upto 2% of Sanctioned Amount + GST |
| Loan cancellation | Interest will be charged for the Interim period between date of Disbursement & date of loan cancellation |
Factor affecting Fee & Charges
There are multiple factors that can affect your E-Vehicle loan interest rate. Lenders set interest rates based on their cost of funds and their assessment of the credit risk of their loan applicants. The following are some of the most important elements that can affect your E-Vehicle loan interest rates:
Income and Employment
Vehicle Price
Loan Purpose
Loan Amount
Credit Score
Loan Term