Schedule of charges
Fees and charges on SM Square loans
These are the charges on SM Square loans, the same as Schedule 2 of the Key Fact Statement you receive before signing. Your own KFS and sanction letter show the exact amounts for your loan; no charge outside them can be levied.
See a sample Key Fact Statement (PDF)
Illustration only: Rs 2,00,000 three-wheeler loan for 24 months. Your rate, fee and EMI depend on your loan.
At the time of the loan
| Charge | Amount |
|---|---|
| Processing fee | As per the loan scheme, shown in Rupees in your KFS |
| Stamp duty | 0.50% of the loan amount |
| Interest rate | Fixed; shown as APR in your KFS. See our Interest Rate Policy |
| Loan cancellation | NIL |
During the loan (contingent charges)
| Transaction | Charge |
|---|---|
| Cheque / ECS / NACH dishonour (per instrument) | Rs 500 |
| Delayed payment charges (per month of the overdue amount, pro-rata) | Two-wheeler: 10% Three-wheeler: 8% (3% for loans co-lent with Shriram Finance) Other vehicles: 6% Loans sanctioned before 17 Oct 2026: 6% |
| Executive visiting charges | Rs 75 or actual charges, whichever is higher |
| Legal, repossession and incidental charges (including notices and documents) | At actual |
| Pre-payment / foreclosure | 5% of principal outstanding |
| Pre-payment within 6 months of disbursement | Interest on the loan amount for 6 months, plus pre-payment charges |
After the loan
| Transaction | Charge |
|---|---|
| Duplicate NOC | Rs 1,500 |
| Statement of account after loan closure | Rs 500 |
Charges that are in the nature of fees are inclusive of GST. For loans from our channel partners (Bajaj Finance, TVS Credit) that lender's charges apply.