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Loan Against Property Fees and Charges

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Charges

PROCESSING FEES Charges Remarks
  Upto 3% of loan amount Taken at the time of loan agreement execution

Other Charges

Items Charges Remarks
Repayment instrument swap charges Rs.500 Per repayment change request
List of document charges Rs.1000 per request for copies / list of documents
Duplicate No Objection certificate / No Due Certificate Rs.500 Request in addition to bank's issued letter
Other Statutory / Mortgage creation charges e.g. Stamp duty, MOD, MOE, etc. on actuals As applicable for each state for creation of mortgage
CANCELLATION AND REBOOKING CHARGES 1) For cheque encashed /RTGS cases – Rs 10000 + Interest from the date of disbursement
2) For cancellation after disbursal and cheque encashment – Rs 10000		  
Loan rescheduling charges Rs. 1000  
PHYSICAL REPAYMENT SCHEDULE Rs. 500  
PHYSICAL STATEMENT OF ACCOUNT Rs. 500  
CHEQUE SWAP CHARGES Rs. 500  
INITIAL MONEY DEPOSIT CHARGE Rs. 6500  
DOCUMENT RETRIEVAL CHARGES (PER RETRIEVAL ) Rs. 500  
STAMPING CHARGES As per actuals  

Charges on account of delayed payments / defaults

Items Charges Remarks
LATE PAYMENT/PENAL CHARGES/DEFAULT INTEREST/OVERDUE(PER MONTH) 2% of the unpaid EMI or Rs 300 whichever is higher  
EMI PICKUP/ COLLECTION CHARGES Rs. 350  
EMI bounce charges Rs.500 For each presentation dishonoured

Switch Fees

Itesm Charges Remarks
Switch Fees POS < =3 Cr - Rs 5000
POS> 3 cr - Rs, 10000		 Switch Fees is applicable for Variable rate loans for conversion from MCLR to EBR applicable on the outstanding loan amount.

Re-pricing Fees

Itesm Charges Remarks
Re-pricing Fees Higher of 50% of the rate reduction * applicable POS or Rs 10,000 Re-pricing Fee will be charged on loan outstanding. At the request of the borrower, bank at its sole discretion may permit the borrower for repricing of the loan.

Part-prepayment fees

· No charges when part loan prepayment is done up to a maximum of 20% of principal outstanding - allowed only once with a gap of 12 months.

· Below grid will be applicable for scenarios other than the above two mentioned.

    Rate Type - Fixed Rate Type - Floating
Individual Primary Applicant Purpose of loan - Personal use 5% 0%
Purpose of loan - Business use 5% >=24 MOB  3%;  else 4%
Non-individual Primary Applicant Purpose of loan - Personal / Business use 5% >=24 MOB  3%;  else 4%

Foreclosure charges

    Rate Type - Fixed Rate Type - Floating
Individual Primary Applicant Purpose of loan - Personal use 5% 0%
Purpose of loan - Business use 5% >=24 EMIs cleared  3%;  else 4%
Non-individual Primary Applicant Purpose of loan - Personal / Business use 5% >=24 EMIs cleared  3%;  else 4%


Note - The above charges are applicable for both MSME and Non-MSME customers.

Interest Rate

All loans disbursed on or before 30th September 2019 would continue to be linked with MCLR.

Re-Pricing frequency

Loans booked from 1st October 2019 onwards which are linked with EBR (External Benchmark Rate) would be reset every 3 months.

Charges on Dropline Overdraft facility

1.       Annual Maintenance Charge – INR 10,000 + taxes

2.       Non Utilization Charge -  If day end utilized amount is equal to zero for a continuous period of 90 days, 0.25% of limit will be levied

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