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Home Loan - Charges

 

What your home loan costs

 

When you apply for a home loan, it is important to find out how much it is going to cost you, so you know you can afford it. When it comes to loans, the interest rate and tenure are the most important aspects you must consider.

 

At Tata Capital, we offer you a choice of floating, fixed or dual interest rates and flexible tenure options to make simplify your loan repayment. Apart from this, there are a few additional charges you may incur:

 

Processing Fee: Upon applying for a home loan, you will be charged a non-refundable processing fee, which will vary depending on the particulars of your loan.

 

Stamp Charges: Based on prevailing rates put forth by the state.

 

Prepayment Charges: You may partially prepay up to 25% of your outstanding principal amount for a given year. Anything more than this will entail a 2% prepayment charge.

 

Foreclosure: These charges are generally applicable when the home loan interest rate is fixed and has been pre-closed with sources that are not the applicants'. In such cases, a percentage of the outstanding principal amount plus taxes are levied as foreclosure charges.

 

Delay in Payment Charges: A 2% charge over the prevailing interest amount is levied for each month the payment is outstanding for delays in payment.

 

Miscellaneous Charges:

  • PDC charges
  • Loan cancellation
  • Dis-honored checque or Rejection of ECS
  • Post-dated cheque swapping charges
  • Account maintenance charges
  • CERSAI or Central Registry of Securitization Asset Reconstruction and Security Interest of India. This varies according to the quantum of the loan.
  • Collection agency & legal charges are based on actuals

Looking for a Home Loan? Calculate your EMI in 3 Easy Steps Using our Home Loan EMI Calculator.

Refer to the Most Important Terms & Conditions (For both, Home Loans and Home Equity Loans).

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Important Information

Recently there have been cases of fraud being committed under the name of Tata Capital or Tata Finance. Customers are requested to read the attached advisory and be aware of misleading advertisements in the newspapers. Click here to read the advisory and be aware of misleading advertisements in the newspapers.

Click here to read the advisory

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