Housing Finance | ||
---|---|---|
Type of Loan | Segment | Effective Rate Of Interest (p.a.) linked to External Benchmark Rate |
Fixed or Hybrid# | Micro Home Finance | 15.00%* |
Fixed or Hybrid# | Others | 9.50% - 15.00%* |
# Hybrid: Fixed for 3 years and thereafter floating interest rate
* Market Linked Benchmark (MLB): External Benchmark Rate is arrived based on FBIL 12 Month T-Bill Rate. FBIL is an external rate benchmark published by Financial Benchmark India Private Ltd. Rate is published at http://www.fbil.org.in/securities?op=tbillcurve&mq=o.
Charges
Charges | Details of Charges |
---|---|
Processing Fees | Upto 2% |
Admin Fee | 0.15% |
Login Fee (Non-refundable and part of processing fees) | Rs. 2000/- |
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) | Nil |
Part Pre-Payment Charges excluding corporate borrowers (Floating ROI period) | Nil |
Foreclosure Charges (Fixed ROI Period) | 2% on the future principle amount |
Foreclosure Charges excluding corporate borrowers (Floating ROI Period) | Nil |
Cheque Bouncing Charges | Rs.500/- |
Delayed Payment Charges | 24% per annum for the delayed days from EMI bounced date till the date of payment |
Field Visit Charges | Rs. 250 per visit for EMI collection |
Documentation Charges | Rs. 1150/- |
PDC Swap Charges | Nil |
Charges for providing a photocopy of documents | Nil |
Charges for providing a statement of accounts | Nil |
Mean rate and Interest rate range for the quarter July '19 - September '19 | |||
---|---|---|---|
Segment | Mean interest rate | Interest rate range | |
Min Rate (in %) p.a. | Max Rate (in %) p.a. | ||
Housing Loan | 11.63% | 9.50% | 15.00% |
• Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts. |
Annualised Percentage Return (APR) for the quarter July '19 - September '19 | |||
---|---|---|---|
Segment | Min Rate (in %) | Max Rate (in %) | |
Housing Loan | 10.00% | 17.00% | |
* Annual Percentage Rate: The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and the loan origination fee |
• 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.