Home Loan & LAP

 

Charges

Items (INR) HOME LOANS LAP Remarks
Processing Fees 1% of the Sanctioned loan Amount 1% of the Sanctioned loan Amount To be paid at the time of disbursement

All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer.

In case customer is related person to IDFC FIRST Bank Good and Service Tax (GST), as may be applicable, needs to be paid by customer.

 

Other Charges

  HOME LOANS LAP Remarks
EMI bounce charges Rs.400/- Rs.400/- For each presentation dishounoured
Cheque/ Instrument Swap charges (per swap) Rs.500/- Rs.500/- Per repayment change request
Copies of documents charges Rs.500/- Rs.500/- Per request for copies / list of documents
Duplicate list of documents Rs.500/- Rs.500/- Per request for copies / list of documents
Duplicate no objection certificate/no due certificate Rs.500/- Rs.500/- Request in addition to bank's issued letter
Disbursement Cheque cancellation Rs.500/- per cancellation Rs.500/- per cancellation On specific request and as per bank’s internal guidelines
Legal/technical verification charges on actuals on actuals For initiation of legal & technical verifications.
Other statutory / mortgage creation charges e.g. Stamp duty, MOD, MOE etc. on actuals on actuals As applicable for each state for creation of mortgage
Loan rescheduling charges (per rescheduling) Rs.300 Rs.300  
Physical Repayment Schedule Rs.500 Rs.500  
Physical Statement of Account Rs.500 Rs.500  
Document retrieval charges (per retrieval) Rs.500 Rs.500  
EMI Pick up/collection charges Rs.350 Rs.350  
Cancellation & Rebooking charges 1% of the loan amount + interest from date of disbursal till receipt of cancellation request. Cancellation request to be received within 30 days or 1st EMI presentation date, post which cancellation will be treated as foreclosure Rs. 10000 exclusive of GST within 30 days of disbursement or 1st EMI presentation whichever is earlier.
Post 30 days or 1st EMI presentation request for cancellation will be treated as foreclosure
 

All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer.

In case customer is related person to IDFC FIRST Bank Good and Service Tax (GST), as may be applicable, needs to be paid by customer.

 

Charges on account of delayed payments / defaults

Default Interest 2% of the unpaid EMI (Exclusive of GST) or Rs 300 (Exclusive of GST) whichever is higher. Default Interest is levied in case of non-payment of the monthly payment. It is charged on the overdue instalment for the defaulted period
Incidental charges & expenses Incidental charges & expenses are levied to cover the costs, charges expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. Charged on actuals.
Re-pricing fees Upto 2 % 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.

All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer.

In case customer is related person to IDFC FIRST Bank Good and Service Tax (GST), as may be applicable, needs to be paid by customer.

 

Part payment/foreclosure fees

Variable rate home loans or hybrid rare loans during the period when the rate of interest is variable Nil for individual Personal use only.
5% of Principle Outstanding for Fixed Rate Loans Exclusive of GST
For individual and MSME borrowers available variable rate loans: Nil
Other: 5% of Principal outstanding Exclusive of GST for all other loans
Charged on amount paid towards the part-payment
Fixed rate loans or hybrid rate loans during the period when rate of interest is fixed Up to 2% Loan up to 50 Lakh for MSME borrowers: Nil
Others: 5% of Principal outstanding Exclusive of GST for all other loans
Charged on the amount paid towards Part-payment

All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer.

In case customer is related person to IDFC FIRST Bank Good and Service Tax (GST), as may be applicable, needs to be paid by customer.

 

Foreclosure charges

Foreclosure charges Floating rate loans:
0% for Floating rate loans for Individual Personal Use only
5% of Principle Outstanding for other floating rate loans.
Fixed rate of Interest: 5% of Principle Outstanding for Fixed Rate Loans Exclusive of GST
Floating rate loans:
Nil for Individuals for Personal use only and MSME borrowers
Others (Floating rate loans):
5% of Principal outstanding Exclusive of GST for all other loans
Fixed rate of Interest:
MSME borrowers: Nil: Up to Rs 50 Lakh
Others: 5% of Principal O/s

All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer.

In case customer is related person to IDFC FIRST Bank Good and Service Tax (GST), as may be applicable, needs to be paid by customer.

 

Interest Rate

INTEREST RATE Floating Interest Rate:
Interest Rate on your loans is linked to your loan. Interest Rate on your loans is linked to the MCLR rate for the period applicable to you loan.
Fixed Interest Rate:
Fixed rate period will be linked to the date of the first disbursement. At the end of fixed interest rate.

All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer.

In case customer is related person to IDFC FIRST Bank Good and Service Tax (GST), as may be applicable, needs to be paid by customer.

 

Rest Frequency

REST FREQUENCY Interest rate on your loan will be rest based on the period of MCLR applicable to your loan.

All fees/charges to be paid shall be exclusive of goods and services tax (GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer.

In case customer is related person to IDFC FIRST Bank Good and Service Tax (GST), as may be applicable, needs to be paid by customer.

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Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

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