Avail Loan Against Property from Axis Bank when you require funds to meet crucial expenses such as education, marriage and healthcare. The fees and charges levied by Axis Bank for Loan Against Property are completely transparent and upfront. Read in detail about the fees and charges for Loan Against Property, below.
LAP | |||
|---|---|---|---|
LAP – Asset Power | Overdraft against property | Lease Rental Discounting | |
Fixed Interest Rate | |||
| Part Payment Charges | Part payment charges on term loan:
The quarter refers to calendar quarter. Above mentioned charges are applicable to both individual and non-individual No Lock-in period for making part payment of the loan. | NA | Part payment charges on term loan:
The quarter refers to calendar quarter. Above mentioned charges are applicable to both individual and non-individual No Lock-in period for making part payment of the loan. |
| Foreclosure charges | 3% on the principal outstanding No Lock-in period for foreclosing the loan. | 2% of the opening overdraft limit set for the specific year (for yearly DOD); 2% of the opening overdraft limit set for the specific month (for Monthly DOD) No Lock-in period for foreclosing the loan. | 3% on the principal outstanding No Lock-in period for foreclosing the loan. |
In case of Micro and Small Enterprises (MSE) customers, no prepayment charges (Part or Full payment) are applicable if - Loan amount is up to Rs.50 Lakhs under Fixed rate loans. For OD no pre-payment charges shall be applicable if the borrower intimates Axis Bank of its intention not to renew the facility within 30 days of due date provided that the facility gets closed on or before the due date. | |||
Floating Interest Rate | |||
| Part Payment Charges | 1.If primary applicant is a non-Individual other than MSEs below part payment charges on term loan will be applicable:
The quarter refers to calendar quarter 2.If primary applicant is an Individual with end use as business or other than business: NIL (irrespective of the co-applicant constitution) 3. If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution) No Lock-in period for making part payment of the loan. | NA | 1.If primary applicant is a non-Individual other than MSEs below part payment charges on term loan will be applicable:
2.If primary applicant is an Individual with end use as business or other than business : NIL (irrespective of the co-applicant constitution) 3. If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution) No Lock-in period for making part payment of the loan. |
| Foreclosure charges |
| 1. If primary applicant is a non-Individual other than MSEs: 2% of the opening overdraft limit set for the specific year (for yearly DOD); 2% of the opening overdraft limit set for the specific month (for Monthly DOD)
2. If primary applicant is an Individual with end use as business or other than business: Nil (irrespective of the co-applicant constitution 3. If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution) No Lock-in period for foreclosing the loan. | 1. If primary applicant is a non-Individual other than MSEs: 3% on Principal outstanding is applicable.
2. If primary applicant is an Individual with end use as business: NIL (irrespective of the co-applicant constitution) 3. If primary applicant is an MSEs: NIL (irrespective of the co-applicant constitution) No Lock-in period for foreclosing the loan. |
For Floating Rate – Individual (Business purpose or other than business) & MSE – No Part Payment & Foreclosure charges shall be applicable irrespective of the source of funds and without any minimum lock-in period. For OD no pre-payment charges shall be applicable if the borrower intimates Axis Bank of its intention not to renew the facility within 30 days of due date provided that the facility gets closed on or before the due date. | |||
| Scheme | Asset Power (Loan Against Property) | Overdraft Against Property | Lease Rental Discounting | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Processing Fee Charge |
|
|
| ||||||||||
| Admin Charges | Nil | ||||||||||||
| 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 | ||||||||||
| Duplicate Amortization Schedule issuance charges | ₹250/- per instance | ₹250/- per instance | ₹250/- per instance | ||||||||||
| Charges on customer initiated request for copies of Document | ₹500/- per document set | ₹500/- per document set | ₹500/- per document set | ||||||||||
| Duplicate Interest Certificate(Pov/Actual) Issuance charge | ₹50/- per instance | ₹50/- per instance | ₹50/- per instance | ||||||||||
| No Due Certificate | NA | NA | NA | ||||||||||
| Duplicate No Dues Certificate/NOC | ₹50/- per instance | ₹50/- per instance | ₹50/- per instance | ||||||||||
| Solvency Certificate | NA | NA | 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)
| Financial Default*:- 8% p.a. above
current applicable interest rate on
the overdue amount ( Penal Charge
not exceeding INR 1,00,000 (INR
One lakh)
| Financial Default*:- 8% p.a.
above applicable interest rate
on the overdue amount
(subject to the aggregate not
exceeding 24% per instance)
| ||||||||||
| Material Terms & Conditions | Financial Default -
| Financial Default -
| Financial Default -
| ||||||||||
| Stamp Duty & other statutory charges | As per applicable laws of the state | As per applicable laws of the state | As per applicable laws of the state | ||||||||||
| Cheque Bounce Charges | ₹339/- per instance | ₹339/- per instance | ₹339/- per instance | ||||||||||
| Cheque/Instrument swapping charges | ₹500/- per instance | ₹500/- per instance | ₹500/- per instance | ||||||||||
| Duplicate statement issuance charges | ₹250/- per instance | ₹250/- per instance | ₹250/- per instance | ||||||||||
| Issuance Charges for Photocopy of Title Deeds | ₹500/- per document set | ₹500/- per document set | ₹500/- per document set | ||||||||||
| Credit Report Issuance Charges | ₹50/- per instance | ₹50/- per instance | ₹50/- per instance | ||||||||||
| CERSAI Charges | ₹50/- for Loans up to 5 lakhs ₹100/- for Loans above 5 lakhs | ₹50/- for Loans up to 5 lakhs ₹100/- for Loans above 5 lakhs | ₹50/- for Loans up to 5 lakhs ₹100/- for Loans above 5 lakhs | ||||||||||
| Equitable mortgage creation charges | As applicable in the state | As applicable in the state | As applicable in the state | ||||||||||
| Equitable Mortgage Cancellation charges | As applicable in the state | As applicable in the state | 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
| ||||||||||||
| Switching Fee (Higher fixed rate to lower Fixed rate) | Switching from the Higher Fixed Rate to Lower Fixed Rate will attract a fee of 0.5% on outstanding principal with minimum of ₹10,000/- The Lower Rate will be equal to the applicable carded interest rate only | ||||||||||||
| 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. | ||||||||||||
*Goods and services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable). The above charges are subject to change and the same shall be updated on our website www.axis.bank.in accordingly.
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and loan origination charges.
6K
15Cr
0
50L
APR
8.00%
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