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Overdraft Facility Against Property Fees and Charges
Axis Bank levies completely transparent and nominal fees and charges for its Overdraft Facility Against Property. Here are the fees and charges:
| Scheme | Asset Power (Loan Against Property) | Overdraft Against Property | Loan Against Rent Receivables | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Processing Fee Charge |
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| Admin charges | ₹0/- | ||||||||||||
| Part payment | The customers falling under category of Micro and Small Enterprise customers, shall not be charged foreclosure and part prepayment charges, irrespective of source of funds for closure. (applicable only for LAP Term loan and Overdraft facility loan). The same is subject to change from time to time and the decision of bank is final. | ||||||||||||
| Applicable for LAP Only: Part pre-payment charges term loan:
1. Upto 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.
| No Part payment charges | Applicable for LAP Only: Part pre-payment charges term loan:
1. Upto 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.
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| Foreclosure Charges | The customers falling under category of Micro and Small Enterprise customers, shall not be charged foreclosure and part prepayment charges, irrespective of source of funds for closure. (applicable only for LAP Term loan and Overdraft facility loan). The same is subject to change from time to time and the decision of bank is final. | ||||||||||||
| 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 thenquarterly 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 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)
| Financial Default*: 8% p.a. above applicable interest rate on the overdue amount (subject to the aggregate not exceeding 24% per instance).
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| 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 upto 5 lakh ₹100/- for Loans above 5 lakh | ₹50/- for Loans upto 5 lakh ₹100/- for Loans above 5 lakh | ₹50/- for Loans upto 5 lakh ₹100/- for Loans above 5 lakh | ||||||||||
| 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
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| 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. | |||||||||||||
APR Calculator
The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and loan origination charges.
₹
6K
15Cr
%
8% 26%
M
12M240M
₹
0
50L
Loan origination charges should not be more than loan amount.
APR
8.00%
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