Loan Against Property Interest Rates

Fees and Charges

Types of Fees Charges Applicable
Rate of interest 10%
Processing fees 6%
Loan statement charges NIL
Outstation collection charges Rs.65* per repayment instrument
Other penal charges NIL
Stamp duty Percentage or Amount – Mentioned state wise
Upfront interest NIL
Service charges NIL
Mortgage Origination Fee (MOF) Rs. 5000
Penal Interest 2% per month + applicable taxes
Bounce charges Rs. 3000 inclusive of taxes
Pre-payment charges (Not applicable if the Borrower is an Individual and the Loan is availed on floating interest rate) 2% + applicable taxes
Foreclosure charges (if any) 4% + applicable taxes
Any change in the terms, number of days notice published through company’s website/electronic media 30 days
Notice period for exercise of right of lien/setoff 7 days

Additional Maintenance Charges

Details Charges
Flexi Term Loan 0.25% of the current Flexi Term Loan amount + applicable taxes (as per the repayment schedule) on the date of levy of such charges
Flexi Dropline Loan 0.5% of the loan amount + applicable taxes during initial tenure. 0.25% of the current Flexi Term Loan amount + applicable taxes during Subsequent Tenure

Applicable following 1st EMI clearance.

FORECLOSURE CHARGES & PRE-PAYMENT CHARGES 

 

Floating Rate Loans: If all Borrowers and Co-Borrowers are Individuals 

Borrower Type: Interest Type Term Loan Flexi Term Loan Flexi Hybrid Loan
Time Period (Months) >1 >1 >1
Foreclosure Charges Nil Nil Nil
Part Payment Charges Nil Nil Nil

 

Floating Rate Loans: If any Borrower or Co-Borrower is a Non-Individual

Fixed Rate Loans: All Borrowers (including individuals)

Term Loan Flexi Term Loan Flexi Hybrid Loan
Time Period (Months) >1 >1 >1
Foreclosure Charges 4% * on Principal Outstanding 4%* on the available Flexi Loan Limit 4% * on Sanctioned Amount during Flexi Interest Only
Loan Repayment Tenure;
and
4%* on the available Flexi Loan Limit during Flexi Term Loan Tenure
Part Payment Charges 2% * on the Part- Payment Amount NA NA

* GST as applicable will be payable by the Borrower in addition to the Prepayment Charges.