Service Charges and Fees of ICICI Bank Tractor Loans

 

Getting a Tractor Loan from ICICI Bank is easy and all charges are disclosed transparently. Given below are the detailed charges, fees and important terms applicable to Tractor Loans.

Nature of Charge

Description

Charges

Processing Fee

Non-refundable loan processing charges

Up to 2% of loan amount + GST

Stamp Duty

As per respective state’s Stamp Duty Act

At actuals

Loan Documentation & RC (Registration Certificate) Collection

For preparing loan agreements and collecting RC

₹2,000 + GST

Amortisation Schedule

Physical report

₹200 + GST
 

Digital report

Nil

Statement of Account

Physical copy at Branch

₹200 + GST

Pre-payment / Foreclosure Statement

Physical copy at Branch

₹200 + GST

  • Digital Lending (Online Loans)

    • Nil, if cancelled within the free-look / cooling-off period

    • ₹2,500 + GST, if cancelled after cooling-off period but before 1st EMI date.


  • Physical Lending

    • ₹2,500 + GST

  • 4% of principal outstanding

     

  • Late Payment: 5% per annum on overdue EMI until repayment + applicable taxes

  • Dishonour of Cheque / ECS / NACH / Auto Debit / E-Mandate: ₹500 + GST per instance

  • Legal, repossession and incidental charges* – At actuals

  • SARFAESI proceedings – At actuals

  • Paper (newspaper) advertisement charges – At actuals

  • Professional charges – At actuals

  • Yard charges – At actuals

  • Notice dispatch charges – At actuals

  • Overdue handling charges (for delinquent accounts) – At actuals.

Repayment & Account Management

 

Nature of Charge

Charges

Repayment Mode Swap

₹500 + GST

Duplicate No Objection Certificate (NOC) / No Dues Certificate

₹250 + GST

Revalidation of NOC

₹250 + GST

Cash Transaction (repayment at Branch)

Nil

 

Interest Rate Range Q3: Oct 2025 – Dec 2025

 

Type of Loan

Maximum

Minimum

Mean

Tractor Loan

21.00%

12.00%

14.58%

 

Notes

 

  1. Rates are based on funding data up to Dec 2025.

  2. Interest rate depends on the quality of assets funded and their resale value.

  3. Subsidies and government schemes are excluded.

  4. Mean rate = Sum of rates of all loan accounts ÷ Number of loan accounts.

Annual Percentage Rate (APR) Calculator

 

  • APR reflects the annualised cost of credit, including interest rate and processing fee

  • Excludes charges like stamp duty, pre-payment, foreclosure etc.

  • To calculate APR, download the APR calculator here

Tractor – Inventory Funding

This loan is designed for tractor dealers to manage working capital and seasonal demand. It is offered in three variants:

 

  • Inventory Funding

  • Trade Advance

  • Corporate Linked Flexi Finance (CLFF)


Service Charges for Inventory Funding

 

Nature of Charge

Description

Charges

Processing Fee

Levied on sanction limit

Up to 1% + GST

Audit Fee

Applicable audit charges

₹2,500 + GST

Penal Charges

On overdue / overdrawn amount

2% p.a. + taxes

Pre-payment charges

 Foreclosure

NIL

 

Annual Percentage Rate (APR) for Inventory Funding

 

  • APR includes interest rate and processing fee


  • Excludes penal charges, stamp duty and other incidental fees


  • Net interest will be based on inputs provided


  • To calculate APR, download the APR calculator here.

Disclaimer

PROCEED