LTCV Credit Private Limited
(Operating under the brand name "EQUALL")
Effective Date: 31st July 2025
This Fees and Charges Policy ("Policy") outlines the detailed structure of all applicable interest rates, fees, charges, penalties, and other monetary levies imposed by LTCV Credit Private Limited, a Non-Banking Financial Company (NBFC) incorporated under the Companies Act, 2013, with its registered office at 1st Floor, No.10, 6th Main, 8th B Cross, Jeevan Bheema Nagar, Bangalore, Karnataka- 560075, India (hereinafter referred to as "EQUALL").
The Policy has been prepared in compliance with applicable Reserve Bank of India (RBI) regulations, including the Fair Practices Code, to promote transparency, comparability, and fairness in lending operations.
The objective of this Policy is to:
This Policy applies to:
| Term | Definition |
|---|---|
| Processing Fee | A non-refundable one-time fee levied for evaluating and sanctioning a loan |
| Penal Interest | Additional interest charged on overdue EMI payments |
| Foreclosure | Full loan repayment before the scheduled end of tenure |
| Bounce Charge | Penalty for non-honouring of repayment mandates (e.g., NACH dishonour) |
| Restructuring Fee | Charges for altering repayment schedule or tenure during loan lifecycle |
| GST | Goods and Services Tax as applicable (currently 18%) |
Interest rates are determined based on a risk-based pricing model and may vary depending on:
A Loan Agreement and Key Fact Statement (KFS) will specify the applicable rate and whether it is fixed or floating.
| Fee / Charge Type | Description | Applicable Amount / Range |
|---|---|---|
| Processing Fee | Application processing and credit underwriting | Up to 4% of the sanctioned loan amount |
| Account Statement Charges | Hard copy upon request | ₹100 per request |
| Duplicate NOC | Issuance of duplicate no-objection certificate | ₹100 per request |
| EMI Bounce Charges | For each failed EMI attempt (e.g., NACH, UPI, etc.) | ₹500 per instance |
| Late Payment / Penal Charges | Additional interest on overdue EMIs | 3% on the overdue EMI principal |
| Foreclosure | Fixed loans: Fee applicable; Floating: No fee (RBI) | See Section 8 & 9 |
| Legal / Recovery Charges | In case of default/litigation | At actuals |
All charges are exclusive of applicable GST, which will be levied additionally.
| Loan Tenure (Months) | Lock-in Period (Months) |
|---|---|
| Up to 12 months | 6 |
| 13–24 months | 9 |
| 25–36 months | 12 |
| 37–48 months | 18 |
Foreclosure is not allowed before the minimum lock-in period mentioned above.
| Customer Segment | Foreclosure Fee |
|---|---|
| Standard | 4% of the principal outstanding |
| Preferred / Eligible Users | 0% (No Charges) |
EMI = [P × R × (1 + R)^N] / [(1 + R)^N - 1]
Where:
Borrowers must maintain sufficient balance on due dates to avoid penalties.
EQUALL may revise fees and charges periodically. Any revisions will be:
For fee-related queries or disputes:
Customer Support
Email: support@ltcv.credit
Phone: +91 8095203888
Working Hours: 10 am to 6 pm, Monday to Friday
If unresolved within 30 days, complaints may be escalated to the NBFC Ombudsman under RBI.
This Policy shall be:
Approved by the Board of Directors of LTCV Credit Private Limited. Maintained by the Compliance Department.
Authorized By:
Name: Santosh Goteti
Designation: Chief Compliance Officer
Date: 31st July, 2025
Policy Version: 1.1
Review Cycle: Annually or as per regulatory guidelines
Customer Care:
Email: support@ltcv.credit
Phone: +91 8095203888
Compliance:
Email: grievance@ltcv.credit
Registered Office:
1st Floor, No.10, 6th Main, 8th B Cross,
Jeevan Bheema Nagar, Bangalore,
Karnataka, 560075, India