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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 ₹500 Per repayment change request
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 As applicable for each state for creation of mortgage
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  
PHYSICAL REPAYMENT SCHEDULE ₹500  
PHYSICAL STATEMENT OF ACCOUNT ₹500  
CHEQUE SWAP CHARGES ₹500  
INITIAL MONEY DEPOSIT CHARGE ₹6500  
DOCUMENT RETRIEVAL CHARGES (PER RETRIEVAL ) ₹500  
STAMPING 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  
EMI Pickup/ Collection Charges ₹350  
EMI bounce charges ₹400 For each presentation dishonoured

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.

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 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)

• For Floating rate loans - Nil charges for individual borrower with personal use.
• NIL charges upto a maximum of 20% of principal outstanding - allowed only once with a gap of 12 months
• For Floating rate non-individual borrower or individuals with business use - 4% of principal outstanding if <=24 EMIs are cleared
• For Floating rate non-individual borrower or individuals with business use - 3% of principal outstanding if >24 EMIs are cleared
• For Fixed rate loans - 5% of principal outstanding
• For Fixed Rate MSME loans up to 50 lacs - Nil charges

Foreclosure charges

• For individual borrower with personal use - Nil charges
• For Floating rate non-individual borrower or individuals with business use - 4% of principal outstanding if <=24 EMIs are cleared
• For non-individual borrower or individuals with business use with >24 EMI’s cleared - 3% of principal outstanding
• For Fixed rate loans - 5% of principal outstanding
• For Fixed Rate MSME loans upto 50 lacs - Nil charges

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.

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