Loan Against Property

Loan Processing Charges

1% or ₹10,000 (whichever is higher)

Upfront processing fee of ₹5,000 plus GST shall be collected at the time of application login. This fee will not be refunded under any circumstances such as loan rejection/withdrawal of the loan application etc., non disbursement of loan for the reasons solely attributable to the customer. Balance processing fee as applicable shall be collected at the time of loan disbursement.

1% or ₹10,000 (whichever is higher)

Upfront processing fee of ₹5,000 plus GST shall be collected at the time of application login. This fee will not be refunded under any circumstances such as loan rejection/withdarwal of the loan application etc., non disbursement of loan for the reasons solely attributable to the customer. Balance processing fee as applicable shall be collected at the time of loan disbursement.

1% or ₹10,000 (whichever is higher)

Upfront processing fee of ₹5,000 plus GST shall be collected at the time of application login. This fee will not be refunded under any circumstances such as loan rejection/withdrawal of the loan application etc., non disbursement of loan for the reasons solely attributable to the customer. Balance processing fee as applicable shall be collected at the time of loan disbursement.

Admin Charges

Nil

Part payment

In case of micro and small enterprises (MSE) customers, no prepayment charges are applicable if;
1. Loan amount is up to ₹50 Lakhs under Fixed rate loans, or
2. Loans with floating interest rates (irrespective of the loan limit)

Applicable for LAP Only: Part pre-payment charges term loan:
1. Up to 25% of the principal outstanding repaid in the quarter - NIL Charges
2. More than 25% of principal outstanding repaid in a quarter
-3% charges on excess amount repaid (Total amount repaid less 25% of the principal outstanding). The quarter refers to calendar quarter. No part prepayment is allowed in the first quarter after taking the loan.

If primary applicant is a non-Individual (irrespective of end use): 3% part prepayment charge on outstanding principal is applicable.
If primary applicant is an Individual with end use as business: 3% part prepayment charge on outstanding principal is applicable.
If primary applicant is an Individual with end use other than business: NIL (irrespective of the co-applicant constitution)

No Part payment charges

Applicable for LAP Only: Part pre-payment charges term loan:
1. Up to 25% of the principal outstanding repaid in the quarter - NIL Charges
2. More than 25% of principal outstanding repaid in a quarter
-3% charges on excess amount repaid (Total amount repaid less 25% of the principal outstanding). The quarter refers to calendar quarter. No part prepayment is allowed in the first quarter after taking the loan.

If primary applicant is a non-Individual (irrespective of end use): 3% part prepayment charge on outstanding principal is applicable.
If primary applicant is an Individual with end use as business: 3% part prepayment charge on outstanding principal is applicable.
If primary applicant is an Individual with end use other than business: NIL (irrespective of the co-applicant constitution)

Foreclosure Charges

In case of Micro and Small Enterprises (MSE) customers, no prepayment charges are applicable if;
1. Loan amount is up to ₹50 Lakhs under Fixed rate loans, or
2. Loans with floating interest rates (irrespective of the loan limit)

1. If primary applicant is a non-Individual (irrespective of end use): 3% foreclosure charge on outstanding principal is applicable.
2. If primary applicant is an Individual with end use as business: 3% foreclosure charge on outstanding principal is applicable.
3. If primary applicant is an Individual with end use other than business: NIL (irrespective of the co-applicant constitution)

Foreclosure Charges: 2 %(+Goods and Service Tax as applicable) of the opening Overdraft limit set for the specific year.

1. If primary applicant is a non-Individual (irrespective of end use): 3% foreclosure charge on outstanding principal is applicable.
2. If primary applicant is an Individual with end use as business: 3% foreclosure charge on outstanding principal is applicable.
3. If primary applicant is an Individual with end use other than business: NIL (irrespective of the co-applicant constitution)

Non utilization charges for overdraft facility (Applicable only for Straight line overdraft facility)

NA

If average quarterly utilization is <25% ofdrawing power then quarterly 0.10% will becharged on the difference between actual average utilization and expected utilization (i.e. 25%)

NA

Renewal charge for overdraft facility (Applicable for Dropline and Straight line overdraft facility)

NA

0.5% of the drawing power set or ₹5,000/- whichever is lower plus applicable GST should be charged at the time of each renewal of limit

NA

No Due Certificate

NA

Duplicate No Dues Certificate/NOC

₹50/- per instance

Solvency Certificate

NA

Penal Charges

Financial Default*: 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not exceeding 24% per instance)

There shall be no capitalisation of Penal Charges
The said Penal Charges will be subject to GST as per applicable law on Goods and Service Tax in India, and GST will be charged separately
*Financial Default includes all types of payment or financial defaults/irregularities with respect to your Loan Account

Financial Default*: 8% p.a. above current applicable interest rate on the overdue amount ( Penal Charge not exceeding ₹1,00,000 (₹ One lakh)

Non-Financial Default**: 1% p.a. above current applicable interest rate / commission from the date of each non-financial default on the outstanding amount of fund-based credit facilities and non-fund-based facilities (as applicable).
There shall be no capitalisation of Penal Charges

Financial Default*: 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not exceeding 24% per instance)

There shall be no capitalisation of Penal Charges
The said Penal Charges will be subject to GST as per applicable law on Goods and Service Tax in India, and GST will be charged separately
*Financial Default includes all types of payment or financial defaults/irregularities with respect to your Loan Account

Stamp Duty & other statutory charges

As per applicable laws of the state

Cheque Bounce Charges

₹339/- per instance

Cheque/Instrument swapping charges

₹500/- per instance

Duplicate statement issuance charges

₹250/- per instance

Issuance Charges for Photocopy of Title Deeds

₹500/- per document set

Credit Report Issuance Charges

₹50/- per instance

CERSAI Charges

₹50/- for Loans up to 5 lakhs
₹100/- for Loans above 5 lakhs

Equitable mortgage creation charges

As applicable in the state

Switching Fees (Higher Floating Rate to Lower Floating Rate)

Switching from the higher Floating Rate to Lower Floating Rate will attract an administrative charge of

Principal O/s at the time of ROI conversion	Charges
Up to ₹10 Lacs	₹1,000/- +GST
₹10.01 Lacs to ₹30 Lacs	₹2,000/- +GST
₹30.01 Lacs to ₹75 Lacs	₹3,000/- +GST
₹75 Lacs	₹5,000/- +GST

Re- Pricing Charges

Switching from the Floating Rate scheme to Fixed Rate scheme will attract a fee of 1% on the outstanding principal with a minimum of ₹10,000/-.

Switching from the Fixed Rate scheme to Floating Rate scheme will attract a fee of 2% on the outstanding principal.

Loan Against Property - Fees & Charges

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