Loan Against Property Balance Transfer for Salaried Individuals - Fees and Charges

Type of fee

Applicable charges

Rate of interest (floating rate of interest)

8% to 14% per annum

Processing fee

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

Documentation charges

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

Flexi fee

Flexi term loan (Flexi dropline)
Up to Rs. 999 for loan amount less than Rs. 50,00,000.
Up to Rs. 1,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999.
Up to Rs. 1,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999
Up to Rs. 2,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
Up to Rs. 3,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
Up to Rs. 4,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
Up to Rs. 5,999 for loan amount Rs. 7,50,00,000 and above

Flexi Hybrid loan –
Up to Rs. 5,999 for loan amount less than Rs. 50,00,000.
Up to Rs. 11,999 for loan amount between Rs. 50,00,000 and Rs. 74,99,999.
Up to Rs. 14,999 for loan amount between Rs. 75,00,000 and Rs. 99,99,999
Up to Rs. 19,999 for loan amount between Rs. 1,00,00,000 and Rs. 2,49,99,999
Up to Rs. 21,999 for loan amount between Rs. 2,50,00,000 and Rs. 4,99,99,999
Up to Rs. 25,999 for loan amount between Rs. 5,00,00,000 and Rs. 7,49,99,999
Up to Rs. 29,999 for loan amount Rs. 7,50,00,000 and above

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

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

Annual maintenance charges

Term Loan: Not applicable

Flexi Term Loan (Flexi Dropline): Not applicable

Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during Initial loan tenure. Not applicable for subsequent loan tenure.

Bounce charges

Rs. 1,500/.

“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:

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

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 QDP process and disbursement mode is cheque: Added to the first instalment
• 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.

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.

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.