Construction Equipment Loan Service Charges & Fees

Charges & Interest Amount

i. Additional Interest

2% per month on overdue EMI

Penal Charges


i. Prepayment charges

 4%* + applicable GST on the Principal outstanding

ii. Bounce Charges

Rs. 500/- + applicable GST

iii. Loan Cancellation Charges

Rs. 2000/- + applicable GST

Service Charges


i. Duplicate Repayment/Amortization schedule charges

Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy

ii. Statement of Account charges

Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy

iii. Prepayment statement charges

Rs. 150/- + applicable GST (For Physical Copy) and NIL for Digital Copy

iv. Duplicate No objection certificate / No due certificate charges

Rs. 250/- + applicable GST

v. Revalidation of No objection certificate charges

Rs. 250/- + applicable GST

vi. No objection certificate for conversion from Petrol to LPG/CNG charges

Rs. 400/- + applicable GST

vii. No objection certificate to convert from private to commercial or from commercial to private charges

Rs. 2000/- + applicable GST

viii. Swap charges

Rs. 500/-+ applicable GST

ix. Loan documentation charges

Rs. 650/- + applicable GST

x. Registration Certificate (RC) Collection Fees

Rs. 600/- + applicable GST

xi. Loan Reschedulement / rebooking charges

Rs. 2500/- + applicable GST

xii. CERSAI Charges

Rs. 100/- + applicable GST

xiii. Information Utility Charges (Only for Corporate Cases)

Rs. 300/- + applicable GST

xiv. Cash Transaction Charges (for repayment of EMI dues in cash at branches)

Rs. 100/- + applicable GST

xv. Processing fees

Upto 1% of loan amount + applicable GST

xvi. Stamp duty charges

At actuals as per State Stamp Duty Act + applicable GST(if any)

xvii. Valuation charges

At actuals+ applicable GST


  1. Service Tax (ST), Other Government taxes, Levies, etc., will be applicable as per prevailing rates in addition to the above mentioned charges.

  2. Loan Processing Fee (LPF) not mentioned here is part of Rate & Fees matrix communicated to customer at the time of loan application. Please refer for further details.

  3. The charges or fees given in above table are subject to change and the one recorded in agreement will be binding over the site.

  4. Stamp duty charges shall be extra as applicable

  5. ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion

* Nil Prepayment charges on all fixed rate loans if loan is booked under priority sector lending and Borrower(s) type is Small or Micro & Loan amount is less than or equal to Rs. 50 Lacs. Further, Nil prepayment charges on all floating rate loans if Borrower(s) type is Small or Micro in accordance with MSE Code of Commitment.

For more information, please visit the nearest ICICI Bank branch or call our Customer Care.

Quarter ended on March-2023 Minimum Maximum Mean
Construction Equipment Loan 8.40% 16.86% 10.33%


  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter 4 - FY: 2022-23.
  • It includes fixed rate of interest and is based on factors such as customer relationship, vehicle segment and tenure of loan etc.
  • Interest rate for used vehicle loan is based on age and segment of vehicle, tenure of loan and product variant like top up, refinance etc.
  • It excludes subsidy and government schemes.
  • Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.


Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.

To calculate the same, please click here to download the APR calculator.