Types of fee |
Applicable charges |
Rate of interest |
9% - 30% per annum |
Processing fee |
Up to 3.54% of the loan amount (inclusive of applicable taxes) |
Document charges |
Up to Rs. 2,360 (inclusive of applicable taxes) |
Flexi fee |
Not applicable |
Prepayment charges |
Full prepayment
- Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment.
- Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
- Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
Part-prepayment –
- Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.
- Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi.
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Annual maintenance charges |
Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Up to 0.413% (Inclusive of applicable taxes) of the Total Withdrawable Amount
(as per the repayment schedule) on the date of levy of such charges.
Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) on the total withdrawable amount during subsequent loan tenure.
|
Bounce charges |
In case of default of repayment instrument, Rs. 1,500 per bounce will be levied |
Penal charge |
Delay in payment of instalment(s) shall attract Penal Charge of Rs. 36 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount. |
Stamp duty |
Payable as per respective state |
Switch fees |
Up to 1.18% of the loan amount (inclusive of applicable taxes)
(Switch fee is applicable only in case of switch of loan. In switch cases, processing fees and documentation charges will not be applicable) |
Instalment default charge |
Rs. 450 per month from the first instalment due date for mandates rejected by customers bank until the new mandate is registered |
Broken period interest/ pre-EMI interest |
Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
- For Term Loan: Deducted from the loan disbursement
- For Flexi Term Loan: Added to the first instalment
- For Flexi Hybrid Loan: Added to the first instalment
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
- In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
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Mortgage origination fees |
Up to Rs. 6,000 per property (inclusive of applicable taxes), charged upfront.
Note - In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount.
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Cash collection handling charges
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Rs. 177 (inclusive of applicable taxes) will be charged if customer opts to make payment in cash when the collection is done by the collection agents. This fee is charged only once per month, regardless of the number of payments made against multiple LANs.
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Cash deposit charges
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Customers will incur a cash deposition charge of Rs. 50 (Inclusive of Applicable taxes) when making cash payments at our branch offices.
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PG facility charges |
Rs. 11 (Inclusive of Applicable taxes) will be charged for utilizing the payment gateway to make part or full payments towards the loan through digital properties. |
CERSAI charges |
Up to Rs. 118/- (inclusive of applicable taxes) |