What's special about us
Enjoy Zero Charges on All Commonly Used Savings Account Services
- About Us
- MD & CEO letter about the bank
- MD & CEO
- Our History
- Letter to Shareholders on the 1st Annual Report after Merger
- Letter to Shareholders on the 2nd Annual Report after Merger
- Letter to Shareholders on the 3rd Annual Report after Merger
- Letter to Shareholders on the 4th Annual Report after Merger
- Board of Directors
- Awards & Accolades
- News Room
- Investors
- Careers
- ESG
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As per amendment in the Income Tax Rules, PAN or Aadhaar are to be mandatorily quoted for cash deposit or withdrawal aggregating to Rupees twenty lakhs or more in a FY. Please update your PAN or Aadhaar. Kindly reach out to the Bank’s contact center on 1800 10 888 or visit the nearest IDFC FIRST Bank branch for further queries.
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Charges
| Processing Fees ( Inclusive of Administrative Charges ) |
Charges | Remarks |
|---|---|---|
| Upto 3% of loan amount | Taken at the time of loan agreement execution |
Other Charges
| Items | Charges | Remarks |
|---|---|---|
| Repayment instrument swap charges | Nil | |
| List of document charges | ₹1000 | per request for copies / list of documents |
| Duplicate No Objection certificate / No Due Certificate | ₹500 | Request in addition to bank's issued letter |
| Other Statutory / Mortgage creation charges e.g. Stamp duty, MOD, MOE, etc. | on actuals | |
| Cancellation and rebooking | • ₹10,000 towards Cancellation in case of uncashed disbursal Cheque • ₹10,000 + Interest from date of disbursal till receipt of cancellation request, in case of encased disbursal Cheque |
|
| Loan rescheduling charges | ₹ 1000 | per rescheduling |
| PHYSICAL REPAYMENT SCHEDULE | ₹500 | |
| PHYSICAL STATEMENT OF ACCOUNT | ₹500 | |
| CHEQUE SWAP CHARGES | Nil | |
| INITIAL MONEY DEPOSIT / APPLICATION FEES (NON-REFUNDABLE) |
₹6500 | |
| DOCUMENT RETRIEVAL CHARGES | ₹500 | per retrieval |
| STAMPING CHARGES (Inclusive of Facilitation Charges ) |
As per actuals |
Charges on account of delayed payments / defaults
| Items | Charges | Remarks |
|---|---|---|
| Late Payment/Penal Charges/Default | 2% of the unpaid EMI or ₹300 whichever is higher | per month |
| EMI Pickup/ Collection Charges | ₹500 | |
| EMI bounce charges | ₹500 | For each presentation dishonoured |
| Overdue handling charges (Delinquent Accounts) | At actuals plus applicable taxes if any |
Switch Fees
| Itesm | Charges | Remarks |
|---|---|---|
| Switch Fees | Principal Outstanding< 3 Crs - ₹5000 + GST Principal Outstanding >= 3 Crs - ₹10,000 + GST |
Switch Fees is applicable for Variable rate loans for conversion from MCLR to EBR applicable on the outstanding loan amount. |
| Interest Rate Switch | (Floating to Fixed where the end use is Personal wherever applicable as per regulatory guidelines) - 0.1% of the sanctioned loan amount or Rs.10,000/- whichever is lower including applicable charges/ taxes. |
It can be exercised twice during the entire tenure of the loan facility. Once interest rate is switched from floating rate to fixed rate, it will not be allowed to switch back to floating rate for minimum three years from the date of switch. The applicable fixed interest rate will be the prevailing fixed interest rate at the time of switch. |
Re-pricing Fees
| Itesm | Charges | Remarks |
|---|---|---|
| Re-pricing Fees | 1/2 of rate drop given to the customer as a % or ₹10000, whichever is higher |
Re-pricing Fee will be charged on the principal loan outstanding. At the request of the borrower, bank at its sole discretion may permit the borrower for repricing of the loan. |
Part prepayment charges (terms as per sanction letter to supersede charges and agreement)
· 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.
· Part payment charges to be levied on the portion of the part payment amount being paid above the permissible amount without charges.
| 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.
Above charges are applicable on Principle Outstanding amount
Interest Rate
Re-Pricing frequency
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
3. Penal Charges on overdrawn accounts - 2% per annum on the overdrawn amount
4. Delay in submission of Post Disbursal Document (Deferral) - Non-completion of post disbursal documents (deferrals) beyond 90 days will attract 2% penal charges (charged on monthly basis), subject to a maximum amount of INR 25000
GST, as applicable, will be levied on all service charges. The above Schedule of Charges is subject to be revised from time to time by the Bank, as will be updated on the official website of the Bank.
