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Medium Term and Long-Term Loans
I. Interest Rates
# Parameters Long-Term Loans >48m to 60m Long-Term Loans 36m to 48m Long-Term Loans 6m to <36m Medium-Term Loans 3m to <6m 1 Rate of Interest (%) Up to 28% p.a. Up to 33% p.a. Up to 33% p.a. Up to 28% p.a. II. Schedule of Charges
Sr No. Parameters Long-Term Loans >48m to 60m Long-Term Loans 36m to 48m Long-Term Loans 6m to <36m Medium-Term Loans 3m to <6m 1 Processing fees Up to 6% Up to 6% Up to 6% Up to 4.5% 2 Rate of Interest (%) Up to 28% p.a. Up to 33% p.a. Up to 33% p.a. Up to 28% p.a. 3 Cooling off Period and Charges 3 days
Charges: up to 100% of processing fees may be levied for loan foreclosure during the cooling off period
3 days
Charges: up to 100% of processing fees may be levied for loan foreclosure during the cooling off period
3 days
Charges: up to 100% of processing fees may be levied for loan foreclosure during the cooling off period
3 days
Charges: up to 100% of processing fees may be levied for loan foreclosure during the cooling off period
4 Lock-in Period and Fees Lock-in period: 18 months
Fees: For loans closed during the lock-in period, lock-in fees may be applied. Lock-in fees will be equal to the total scheduled but unpaid interest for lock-in period as per the repayment schedule.
Lock-in period: 18 months
Fees: For loans closed during the lock-in period, lock-in fees may be applied. Lock-in fees will be equal to the total scheduled but unpaid interest for lock-in period as per the repayment schedule.
Lock-in period:
6m to 11m loan: 3 months
12m to 17m loan: 6 months
18m to 23m loan: 9 months
24m to 35m loan: 12 months
Fees: For loans closed during the lock-in period, lock-in fees may be applied. Lock-in fees will be equal to the total scheduled but unpaid interest for lock-in period as per the repayment schedule.
Not applicable
5 Foreclosure and part prepayment charges Up to 7% of amount foreclosed/ prepaid Up to 7% of amount foreclosed/ prepaid Up to 7% of amount foreclosed/ prepaid Up to 7% of amount foreclosed/ prepaid 6 Late Payment Charges a. One-time charges Up to Rs. 1,500 Up to Rs. 1,500 Up to Rs. 1,500 Up to Rs. 1,500 b. Daily Penal Charges Penal Charges for a continuing default in repayment of an EMI. Daily charges of up to 0.2% of the overdue principal amount Penal Charges for a continuing default in repayment of an EMI. Daily charges of up to 0.2% of the overdue principal amount Penal Charges for a continuing default in repayment of an EMI. Daily charges of up to 0.2% of the overdue principal amount Penal Charges for a continuing default in repayment of an EMI. Daily charges of up to 0.2% of the overdue principal amount 7 Other Charges Stamp duty, GST, and other cess, if applicable would be collected at applicable rates from time to time. Stamp duty, GST, and other cess, if applicable would be collected at applicable rates from time to time. Stamp duty, GST, and other cess, if applicable would be collected at applicable rates from time to time. Stamp duty, GST, and other cess, if applicable would be collected at applicable rates from time to time. -
Loan Against Property
Medium Term and Long-Term Loans
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Interest Rates
Parameters Particulars Rate of Interest (ROI) 18% – 34% per annum (p.a.) fixed -
Schedule of Charges
Parameters Particulars Processing Fees (PF) 2% – 3% + Goods and Service Tax (GST) (rate as applicable) Initial Money deposit (IMD) Up to INR 3,000 + Goods and Service Tax (GST) (rate as applicable) Legal and Technical Charges Up to INR 5,000 + Goods and Service Tax (GST) (rate as applicable) Prepayment charges Up to 5% (on principal amount being prepaid) + Goods and Service Tax (GST) (rate as applicable)
Lock-in period: 6 Month on Books “MOB” from first Equated Monthly Instalments (“EMI”) date. In the cases where customer requests for earlier pre-payment, prepayment charges shall be levied at the discretion of the Company.
Foreclosure charges Up to 7% (on principal amount being foreclosed) + Goods and Service Tax (GST) (rate as applicable)
Lock-in period: 12 MOB from first EMI date. In case where customer requests for earlier closure, foreclosure charges shall be levied at the discretion of the Company which shall be communicated upfront to the customer.
Note: All the part prepayments that are done within a 12-month timeline before the date of foreclosure, they would be treated as a foreclosure. A differential rate between foreclosure and prepayment would be charged on the principal amount which was partially pre-paid in the aforementioned timeline.
Loan cancellation charges Up to 3% (on loan amount) + Goods and Service Tax (GST) (rate as applicable)
Note:
- Loan cancellation charges shall be levied when the customer requests for loan cancellation before the due date of the first EMI.
- Processing fees, Legal Technical charges which are deducted during loan disbursement shall not be refunded.
Pro rata interest would be levied from the date of disbursement up to the date of cancellation.
Penal Charges Bounce Charges (One time Penalty) Up to INR 1500 per EMI (No GST) Per Day penalty Up to 0.2% of Overdue principal + GST Other Charges CERSAI registration charges Up to INR 100 + GST Document Copy charges Up to INR 2,000 + GST Document Storage charges Up to INR 1,000 + GST/loan (entire tenure) Cash collection charges Up to INR 250 + GST/visit Document Retrieval charges (Post 30 days of loan foreclosure) Up to INR 1000 per month + GST Duplicate Certificates (No Dues/Interest) Up to INR 1000 + GST delay in mortgage creation (If not completed in 10 days from the date of disbursement) up to 0.2% of the sanctioned loan amount per day + GST, until the mortgage creation is duly completed to the lender’s satisfaction.
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