Lease Rental Discounting Interest Rates, Processing Fees, and Charges

Type of fee

Applicable charges

Processing fees

Up to 3.54% of the loan amount (inclusive of applicable taxes)

Document processing charges

Up to Rs. 2,360 (inclusive of applicable taxes)

Flexi fee

Term Loan: Not applicable
Flexi variant: Not applicable

Pre-payment charges

Full pre-payment/Foreclosure

• Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full pre-payment.
• 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: Not applicable
  

Part pre-payment

• Up to 4.72% (inclusive of applicable taxes) of the principal amount of Loan prepaid on the date of such part pre-payment.
• Flexi Term Loan (Flexi Dropline): Not applicable

Note: If all borrowers and co-borrowers are Individual, loan availed on floating interest rates, and loan taken for purpose other than business use, then there will be no foreclosure/part-payment charges.

Annual maintenance charges

Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Not applicable
Flexi Hybrid Loan: Not applicable

Bounce charges

In case of default of repayment instrument Rs. 1,500 per bounce will be levied.

Penal Charge

Penal Charge is applicable in the following scenarios:

a. Penal Charge:
Any payment default shall attract penal charge of Rs. 190 per day 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.

b. Covenant Perfection Charge:
i) Rs. 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.
ii) Rs. 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

Mandate rejection charges

Rs. 450/- per month from the first month of due date for mandate rejected by customer’s 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):
Scenario 1 - Over and above the period of 30 (thirty) days from the date of disbursement of the loan:
Method of recovery of Broken Period Interest/Pre-EMI Interest:
For Term Loan: Deduct from disbursement
For QDP process & disbursement mode is cheque: Added to first instalment amount
For Flexi Term Loan: Added to first instalment amount
For Hybrid Flexi Loan: Added to first instalment amount
Scenario 2 - Less than period of 30 (thirty) days from the date of disbursement of the loan, Interest on first instalment will be charged for actual number of days.

Mortgage origination fees

Up to Rs. 6,000 (inclusive of applicable taxes) per property

Property insight (if availed)

Rs. 6,999 (inclusive of applicable taxes)

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

For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any)

Note:

a) The company would charge additional interest rate risk premium of 200 bps over the applicable rate of interest on the borrower's loan account as on that date.
b) Three conversions are permissible throughout the entire tenure

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

For Flexi Term Loan and Hybrid Flexi Loan: Up to 1.18% (inclusive of applicable taxes) on flexi limit + undisbursed amount (if any)

Note: Three conversions are permissible throughout the entire tenure.