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Loan Against Property Interest Rate

Loan Against Property – Fees and Charges

Rate of Interest

For Salaried

LAP (Loan Against Property) = BHFL-SAL FRR* – Margin = 10.10% to 11.50%

*BHFL-SAL FRR (Bajaj Housing Finance Limited Floating Reference Rate for Salaried customers) – 12.90%

For Self-employed

LAP (Loan Against Property) = BHFL-SE FRR* – Margin = 10.50% to 14.50%

*BHFL-SE FRR (Bajaj Housing Finance Limited Floating Reference Rate for Self Employed customers) – 13.30%

Other charges

TYPES OF FEES CHARGES APPLICABLE
Processing fees Up to 6%
Loan statement charges NIL
Interest and principal statement charges NIL
EMI bounce charges Up to Rs. 3,000/-
Penal interest Up to 2% Penal Interest
Secure fee Up to Rs.4,999 (One time)

*Applicable following 1st EMI clearance.

Foreclosure Charges

Borrower Type: Interest Type

Time Period (Months)

Foreclosure charges

Individual: Floating rate
>1
NIL
Non-individual: Floating rate
>1
4% plus applicable taxes
All borrowers: Fixed rate
>1
4% plus applicable taxes

For Term Loan, charges are calculated on the outstanding principal.

For Flexi Interest-only Loan, charges are calculated on the sanctioned limit.

For Flexi Term Loan, charges are calculated on the current dropline limit.

Part-prepayment Charges

Borrower Type: Interest Type

Time Period (Months)

Part-prepayment Charges

Individual: Floating rate
>1
NIL
Non-Individual: Floating rate
>1
2% plus applicable taxes
All borrowers: Fixed rate
>1
2% plus applicable taxes

Part-prepayment made should be more than 1 EMI

These charges not applicable for the Flexi Interest-only Loan and Flexi Term Loan facilities.