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 

 

FORECLOSURE CHARGES

Borrower Type: Interest Type Time Period (Months) Foreclosure charges
Individual: Floating rate >1 Nil
Foreclosure Charges >1 4% plus applicable taxes
Part Payment Charges >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

Individual: Floating rate 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 greater than 1 EMI.

*These charges are not applicable for the flexi interest-only and flexi term facilities.