Features
Avail flexible repayment options
Enjoy easy documentation
Key Details
ELIGIBILITY
Salaried person, self-employed professional or a self-employed non-professional.
PURPOSE
Business Expansion, Balance Transfer and Top-up
LOAN SIZE
Rs 10 Lakhs up to Rs 300 Lakhs
TENURE
3 years up to 15 years
Interest Rates
Mean rate and Interest rate range for the quarter July 2024 – September 2024
Segment
Mean interest rate
Min Rate (in %) p.a.
Max Rate (in %) p.a.
Loan against property
19.80%
10.80%
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 July 2024 – September 2024
Segment
Min Rate (in %)
Max Rate (in %)
Loan against property
11.30%
26.00%
Type of LAP
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
10.80% - 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
Our Charges
Schedule of Charges
Schedule of Charges
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
Up to 2%
Admin Fee
Upto 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)
Up to 3% on prepaid amount
Part Pre-Payment Charges excluding corporate borrowers (Floating ROI period)
Nil if the end use of funds is other than Business 3% on Prepaid amount
Part Pre-Payment Charges for Corporate Borrowers (Floating ROI period)
Nil if the end use of funds 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) Individual borrowers(s) - NIL. If the end use is other than Business.
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 on the EMI due
Mortgage Creation/ Release Charge
As per applicable state laws
Stamp Duty
As per applicable state laws
Field Visit Charges
Rs.250 per visit for EMI collection
Documentation Charges
Rs.2580/-
Repayment Swap Charges
Rs.500/-
Charges for providing physical Statement of Accounts/No due certificate - Once in six months
Nil
Charges for providing photocopy of documents
Rs.500/-
Charges for providing physical Statement of Accounts/No due certificate - More than once in six months
Rs.500/-
Charges for Mortgage Release/Cancellation
Rs.1,000/-
Credit Shield
As Applicable
Personal Accident Cover
As Applicable
Property Insurance
As Applicable
Switch Fee
One time charge of 0.25% on loan principal outstanding or Rs 5,000/- 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)
• 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
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