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LOAN AGAINST PROPERTY

Your friend in need is your property indeed. Unlock the power of your property by availing an easy loan against your residential or commercial property! Your friend in need is your property indeed. Unlock the power of your property by availing an easy loan against your residential or commercial property!

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With speedy approvals and flexible repayment options, choose our loan against property for business expansion and realise the true value of your property.

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INTEREST RATE

Charges Details of Charges
Legal Charges Rs.2,000/- for loan amount less than or equal to 5 lakhs
Rs.3,000/- for loans greater than 5 to 25 lakhs
Rs.5,000/- for loans greater than 25 lakhs
Processing Fees Upto 2%
Admin Fee 0.2%
Login Fee (Non-refundable and part of processing fees) Rs.2000/- inclusive of GST for loans upto 5 lakhs
Rs.3000/- inclusive of GST for loans greater than 5 upto 25 lakhs
Rs.5000/- inclusive of GST for loans greater than 25 lakhs
CERSAI Charges Rs 50/- for all loans up to Rs 5 Lakhs and Rs 100/- for all other loans
Part Pre-Payment Charges (Fixed ROI period) Upto 3% on Prepaid amount
Part Pre-Payment Charges excluding corporate borrowers (Floating ROI period) Nil If the end use of fiunds is other than business 3% on prepaid amount
Part Pre-Payment Charges for corporate borrowers (Floating ROI period) Nil If the end use of fiunds is other than business 3% on prepaid amount
Foreclosure Charges (Fixed ROI Period) Payment made through own funds of the borrower(s) - 3%. Payment made through funds/instruments from other financial institutions - 5% (Balance Transfer of loan to other institution)
Foreclosure Charges excluding corporate borrowers (Floating ROI Period) Payment made through own funds of the borrower(s) - 3%. Payment made through funds/instruments from other financial institutions - 5% (Balance Transfer of loan to other institution)
Foreclosure Charges for corporate borrowers (Floating ROI Period) Payment made through own funds of the borrower(s) - 3%. Payment made through funds/instruments from other financial institutions - 5% (Balance Transfer of loan to other institution)
Cheque Bouncing Charges Rs.500/-
Delayed Payment Charges 36% per annum for the delayed days from EMI Due date till the date of payment
Mortgage Creation / Release Charges As per applicable state laws
Field Visit Charges Rs.250 per visit for EMI collection
Documentation Charges Rs.1500/-
Repayment Swap Charges Rs.500/-
Charges for providing a photocopy of documents Rs.500/-
Charges for providing physical Statement of Accounts/No due certificate - Once in six months Nil
Charges for providing physical Statement of Accounts/No due certificate - More than once in six months Rs.500/-
Charges for mortgage release/cancellation Rs.1000/-
Credit Shield As Applicable
Personal Accident Cover As Applicable
Property Insurance As Applicable
Switch Fee One time charge 0f 0.25% on loan principal outstanding or Rs.5000/- whichever is higher
*Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)
Mean rate and Interest rate range for the quarter April 2024 – June 2024
Segment Mean interest rate Interest rate range
    Min Rate (in %) p.a. Max Rate (in %) p.a.
Loan against property 19.24% 11.00% 24.00%
• Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.

 

Annualised Percentage Return (APR) for the quarter April 2024 – June 2024
Segment Min Rate (in %) Max Rate (in %)
Loan against property 12.00% 26.00%

 

Loan against property    
Type of Loan Segment Effective Rate Of Interest (p.a.) linked to MCLR / External Benchmark Rate
Fixed Micro LAP, Business loan – Secured, General LAP & Agri 14.00% - 26.00%*
Fixed or Hybrid# Others 11.00% - 18.00%*

# Hybrid: Fixed for 3 years and 6 months and thereafter floating interest rate

* Market Linked Benchmark (MLB): External Benchmark Rate is arrived based on Repo Rate published by RBI. Rate is published at https://rbi.org.in/home.aspx

 

• Application forms complete in all respects will be processed within 14 days from the date of receipt of application form.

• Wherever additional information / documentation is required to process the application form, the same shall be intimated to the customer within 14 days from the date of receipt of the application form.

To make payments for the Loan via NEFT / RTGS, please contact your Home Branch – Branch Manager for further details

Loan Application Forms and Loan Agreements can be accessed in Form Centre