Consumer Loan Against Property (C-LAP)

Processing Fee (%) / Renewal Fee (OD/TL)

Term Loan

C-LAP: up to 3% of Sanction Loan amount + Tax

Initial Login Fee of INR 4000 + Tax to be collected at Login stage; the fee is non-refundable in nature

Overdraft

C-LAP New OD: 1 % of limit amount + Tax

Renewal: 0.6 % of limit amount + Tax

Bounce charges (Term Loan)

INR 500 + Tax

Repayment schedule charges (Term Loan)

INR 200 + tax

Cheque/SI/ECS/NACH swapping charges (Term Loan)

INR 500 + tax

Property Document Retrieval (OD/Term Loan)

INR 500 + tax

Repricing Fee (Term Loan)

Up to INR 50 Lakh Outstanding

INR 5,000 or 0.5% whichever is lower + tax

Greater than INR 50 Lacs Loan Outstanding

INR 10,000 or 0.25% whichever is lower + tax

Foreclosure charges (Fixed/ Floating) Rate (Term Loan /OD)

(Not applicable on floating rate loans to individual borrowers with end use being personal use)

Term Loan

<24 Months: 5% of Loan outstanding

24 – 60 Months: 3% of Loan outstanding

>60 months: 2% of loan outstanding

Part payment of up to 25% of loan outstanding allowed in a calendar year without charges

Overdraft:

For Individuals & MSMEs – Nil

For others –

2% on the limit in case of takeover by other banks/Fis

Nil in case of own source

Part Payment (Fixed/Floating) Rate

(not applicable on floating rate loans to individual borrowers with end use being personal use)

Part payment of up to 25% of loan outstanding allowed in a calendar year without charges.

Prepayment above 25% of outstanding will be charged at rate (Plus applicable tax) arrived basis loan vintage from disbursement date) as per below grid.

<24 Months: 5% of Loan outstanding

24 – 60 Months: 3% of Loan outstanding

>60 months: 2% of loan outstanding

Loan Cancellation Charges (Term Loan)

(Loan cancellation allowed within 30 days from first date of disbursal)

The same shall be over and above the applicable interest amount

INR 5,000+ Tax

C-LAP New OD (Account maintenance charges)

INR 5,000 per annum + Tax

Default Penal Charges (OD/Term Loan) / Material Breach charges

Amount or % p.a. to be charged

Frequency

Financial Breach –

Term Loan: Non-payment of EMI or any other charges and amount as per terms of this Loan Agreement

Overdraft - Non-payment of Interest amount or any other charges and amount as per terms of this Loan Agreement

3% per annum on the overdue EMI will be charged for the defaulted period

Payable on Monthly basis on EMI due date     

Security Perfection - Borrower’s default in creation and perfection of first and exclusive mortgage over the Property (“Secured Assets”) within 30 days from the date of disbursal.

2% per annum will be charged on the outstanding balance

Payable on quarterly basis

Non - Financial Breach – Borrower’s breach of any of the below mentioned conditions:-

• Borrower shall not and shall ensure that no Obligor carryout any structural changes, alterations or additions in the Secured Assets in contradiction to the terms of Loan Agreement.
• Borrower shall not and shall ensure that no Obligor create security over or otherwise part with the possession of or encumber in any manner, the Secured Assets, or any part of it without prior written consent of the Bank.
• The Borrower shall as per timelines mentioned in the Loan Agreement inform the Lender of occurrence of below events:-
  1. upon receipt of a notice of application /petition  being  filed/ intended  to  be filed  for  the bankruptcy /insolvency of the Borrower and/or the Obligor;
  2. if any damage is caused to the Secured Assets;
  3. if the Secured Assets or any part of the Secured Assets  becomes enforceable or a distress, attachment, writ of seizure and sale, garnishee order, injunction or any form of execution is levied or enforced upon or issued against the Secured Asset;
  4. upon occurrence of any event which might directly affect Borrower’s capacity to repay the Secured Obligations

2% per annum will be charged on the outstanding balance

Payable on quarterly basis

2% per annum will be charged on the outstanding balance

Payable on quarterly basis