Affordable Home Loan Balance Transfer

Type of fee

Applicable charges

Processing fees

Up to 4.72% of the loan amount (inclusive of applicable taxes)

Documentation charges

Up to ₹9500/- (inclusive of applicable taxes)

Pre-payment 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

Part prepayment:

• Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment

Note: Loan availed by individuals on floating interest rates and loan taken for purpose other than business use, then there will be no foreclosure / part payment charges.

Bounce charges

Up to ₹1500/- per bounce

“Bounce charges” shall mean charges for (i) dishonour of any payment instrument; or (ii) non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.

Penal charge

Penal charge is applicable in the following scenarios:

Penal charge:

• Any payment default shall attract penal charge of 36% per annum for period of such delay from the respective due date and continue to apply until the date of receipt of amounts under the said default.
  

Covenant perfection charge:

• ₹800/- per day for non-submission of critical documents after 90 days of disbursement. Levy from the date when due on non-compliance of any one or all heads in the category.
  
  

• ₹500/- per day for non-submission of non-critical documents after 120 days of disbursement. Levy from the date when due.

Stamp duty (as per respective state)

Payable as per state laws

Broken period interest/ pre-EMI interest

Broken Period Interest/ Pre-EMI Interest:-Method of recovery of "Broken Period Interest/Pre monthly instalment Interest" would be as follows:

Scenario 1: If Loan is disbursed on 1st or post 10th of the month:

For Term Loan: BPI amount will be capitalised, i.e. added to Principal amount on Due date / Added to first instalment.

Scenario 2: If Loan is disbursed between 3rd and 10th of the month:
First instalment will consist of interest for actual number of days.

Mortgage origination fees

Up to ₹6000/- per property (inclusive of applicable taxes) charged upfront

*In case of re-valuation of the property then MOF will be levied again and shall be deducted from loan disbursement amount

CERSAI charges

Up to ₹118/- per instance (Inclusive of applicable taxes)

Conversion fee (Floating to Fixed)

Up to 1.18% (inclusive of applicable taxes) of Principal Outstanding + Undisbursed amount (if any).

Note: The Company would charge an additional interest rate risk premium of 200 bps over the applicable rate of interest on the borrower's loan account as on that date.

Conversion fee (Fixed to Floating)

Up to 1.18% (inclusive of applicable taxes) of principal outstanding + undisbursed amount (if any)

Switch fee for ROI change

Up to 2.36% (inclusive of applicable taxes) of principal outstanding

Subsequent Disbursement Visit Charges

Up to ₹799 per visit (Inclusive of applicable taxes)