If you're a salaried individual, you must fulfil the following loan against property eligibility criteria:
Rate Description | Party to the Agreement & Purpose | Foreclosure Charges within 12 months of Disbursement | Foreclosure Charges after 12 months of Disbursement | Part Prepayment Charges (For Term Loan) |
---|---|---|---|---|
Individual Borrower with end use other than business | No charges | No charges | No charges | |
Floating Rate Scheme | Individual Borrower with end use as business | 6% of Principal Outstanding | 4% of Principal Outstanding |
Upto 25% of the Sanction Amount - Nil Charges More than 25% of the Sanction Amount for any pre- payment taking place during the tenure of the loan – 4% on amount prepaid in excess of 25% of the Sanction amount |
Non- individual Borrower irrespective of end use | 6% of Principal Outstanding | 4% of Principal Outstanding |
Upto 25% of the Sanction Amount - Nil Charges More than 25% of the Sanction Amount for any pre-payment taking place during the tenure of the loan – 4% on amount prepaid in excess of 25% of the Sanction amount |
|
Fixed Rate scheme | Individuals/ non- individual borrowers irrespective of the end use | 6% of Principal Outstanding | 4% of Principal Outstanding |
More than 25% of the Sanction Amount for any pre- payment taking place during the tenure of the loan – 4% on amount prepaid in excess of 25% of the Sanction amount |