Fees & Charges
Upon applying for a loan against property, you will be charged a non-refundable processing fee, which will vary depending on the particulars of your loan.
|RATE DESCRIPTION||PARTY TO THE AGREEMENT||FORECLOSURE WITHIN LOCK-IN PERIOD||FORECLOSURE AFTER LOCK-IN PERIOD||PARTIAL PREPAYMENT CHARGES|
|FLOATING RATE SCHEME||ALL INDIVIDUALS||NO CHARGES||NO CHARGES|
|FORECLOSURE WITHIN LOCK-IN PERIOD||FORECLOSURE AFTER LOCK-IN PERIOD|
|FLOATING RATE SCHEME||EVEN 1 NON INDIVIDUAL||4% + Lock-in Period charges + TAXES||4% + TAXES||4% ON PREPAID AMOUNT OVER 25% OF PRINCIPAL O/S|
|FIXED RATE SCHEME||INDIVIDUALS/ NON INDIVIDUALS||4% + Lock-in Period charges + TAXES||4% + TAXES||4% ON PREPAID AMOUNT OVER 25% OF PRINCIPAL O/S|
- Foreclosure Charges will be levied on the Principal Outstanding and all part payments, if any, made within immediate preceding 12 months of such foreclosure
- In case of Semi-Fixed Loans (fixed for initial period and then floating), the Foreclosure & Pre-payment norms for floating rate loans would be applicable on loan being converted into floating rate
- Lock-in Period: 9 months from the date of first disbursement. Lock in Period charges would be Prevailing ROI x Principal Outstanding as on date of Foreclosure x Balance Lock-in Period
A maximum of 25% of the principal outstanding is allowed by way of part prepayment during a single year with payments being made in maximum 2 tranches without any prepayment charges. This is subject to the prepayment policy of the Company as may be applicable from time to time.
Upon cancellation for a loan against property, you will be charged a cancellation fee of Rs. 25000 + GST.
Documentation handling & retrieval Charges:
Rs. 2,500/- + GST
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