Penal Charges: If the Borrower fails to pay any amount due and payable pursuant to this sanction letter or the loan agreement on the relevant due date or within five days of grace period from the due date or in the event of the occurrence of any other event of default (as specified in the loan agreement to be executed with respect to the Loan read with this sanction letter), penal charges in the terms of the applicable policy of the Lender shall be payable by the Borrower at the rate of 0.1% per day or 36.5% (36.5 percent) per annum excluding GST on the unpaid amount (which includes principal, interest and other charges but excludes Penal Charges), calculated for each day from the due date of payment of the unpaid amounts including the grace period, or the date of occurrence of the event of default, as the case may be, until the date of actual payment of all outstanding amounts or rectification of the event of default, if so permitted.

Foreclosure Charges: For Floating rate loans - Nil, For Fixed rate loans - Up to 5% (Excluding GST)

Cheque/NACH Bouncing Charges: Up to Rs. 500/- (Rupees Five Hundred only) to be charged to the borrower/s in each instance that any cheque is dishonored (under any of the payment modes) and consequently represented OR in each instance that a cheque/ pay order/ demand draft is presented when any instalment/s is/are not received by the BFIL by /upon the issue of debit instructions under the ECS method or direct debit method or any other payment method (other than the PDC method) as selected by the borrower/s for any reasons whatsoever.