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Charges & Processing fees for Home Loan

Charges Home Loans
Loan Processing Charges (Non Refundable)

0.50% - 2.00% of the loan amount or ₹ 3000/- whichever is higher.

The processing/login fee is a one-time non refundable fee and is collected by the Bank for the purpose of appraising the Application for the Facility and the same is independent of the outcome/result of such appraisal. The processing/login fee is payable at the time of submitting of the Application, by way of Cheque/Demand Draft favoring the Bank and/or such other mode as may be acceptable to the Bank.

Administrative Charges

0.25 % of Facility Amount or ₹ 5000/- whichever is lower.

(The Administrative charges are a one-time non-refundable charges collected by the Lender for the purpose of appraising the valuation and legal verification of property to ascertain suitability of accepting the property for mortgage and the same is independent of the outcome /result of such appraisal. Please note that the administrative charges are payable at the time of disbursement of the Facility)

Commitment charges / Non utilisation fee (Applicable for Overdraft Facility)

Minimum 30% utilization required on a quarterly average basis. Charge of 0.5% will be levied on the deficit amount*.

* Not applicable for salaried customers

Part Prepayment Fees Nil
Prepayment Charges

1. For the Facility with Fixed Interest Rate at the time of prepayment:

  1. 2% on Home loan, Home improvement loan, Land loan and Top up on home loan on amount prepaid and on all amounts tendered by the Borrower(s) towards prepayment of the Facility during the last one year from the date of final prepayment.
  2. 4% on Non-home loan (i.e. Loan Against Property, Non Residential Premises, Lease Rental Discounting, Non Home Loan Top Up, Retail Trade Finance, Overdraft) on amount prepaid and on all amounts tendered by the Borrower(s) towards Prepayment of the Facility during the last one year from the date of final prepayment.
  3. Nil Prepayment charges on fixed rate loans if loan is booked under priority sector lending and Borrower(s) type is Small or Micro & Loan amount is less than or equal to ₹ 50 lacs.

2. For the Facility with Adjustable Interest Rate at the time of prepayment:

  1. Nil prepayment charges on home loan, home improvement loan and land loan
  2. Nil prepayment charges on top up on home loan where the Borrower(s) is individual and the end use of the loan facility is other than business purpose.
  3. 2% on top up on home loan on amount prepaid and on all amounts tendered by the Borrower(s) towards prepayment of the Facility during the last one year from the date of final prepayment where the loan is given to individual Borrower(s) for business purpose and to Non-Individual Borrower(s) for all-purpose. Nil prepayment charges will be applicable to individual Borrower(s) if loan is booked under priority sector lending and Borrower(s) type is Micro or Small Enterprise. 
  4. Nil prepayment charges on Non-home loan (Loan against property, Non Residential Premises, Lease Rental Discounting, Non Home Loan Top Up, Retail Trade Finance , Overdraft) where loan is given to Individual Borrower(s) and the end use of the Facility is other than business purpose.
  5. 4% on Non-home loan (Loan Against Property, Non Residential Premises, Lease Rental Discounting, Non Home Loan Top Up, Retail Trade Finance, Overdraft) on amount prepaid and on all amounts tendered by the Borrower(s) towards prepayment of the Facility during the last one year from the date of final prepayment where the loan is given to individual Borrower(s) for business purpose and to non-individual Borrower(s) for all purpose. Nil prepayment charges will be applicable to individual Borrower(s) if loan is booked under priority sector lending and Borrower(s) type is Micro or Small Enterprise.
  6. Nil prepayment charges on Money Saver Account.
Conversion charges
  • For all floating (adjustable) rate linked term loan to Fixed or floating (adjustable) ₹ 3,000.

  • Semi Fixed / Fixed Interest Rate to Adjustable Interest Rate - 2% of the principal outstanding

  • For Overdraft - 0.5% of the principal outstanding

Cheque/ECS/NACH dishonor Charges, per transaction ₹ 500/- charges per bounce/return/dishonor of cheques and /or any payment instruction including AD / ECS / NEFT / E-Cheque or such other amount as may be specified by the Bank from time to time and it shall be levied as per the discretion of the Bank.
Cheque/Repayment mode swap charges ₹ 500/-
Penal Charges in the event of default/delay in payment/repayment of any part of the loan amount on due date Penal Charges shall be equal to 5% per annum on the overdue sum from the due date to the actual payment date plus applicable taxes or other statutory levies, if any. 
Charges for Amortisation Schedule ₹ 200/- for physical print out at the branch
Charges for Statement of account ₹ 200/- for physical print out at the branch
Charges for prepayment statement ₹ 200/- for physical print out at the branch
Charges for duplicate NOC/No Dues Certificate ₹ 250/-
Penal charge for non-submission of post disbursement documents ₹ 5000/-
Penal charges for non-collection of property documents post 60 days from the loan closure date ₹ 1,000/- Every month charges will be levied till collection of documents.
Penal Charges for breach of construction timeline

In case of land loan, the Borrower(s) shall complete the construction of the house within 4 years. If the construction of the house is not completed within 4 years from the first disbursement date the Borrower shall be liable to pay Penal Charges as under -

1% annually on the principal outstanding or ₹ 50,000/- whichever is lower or such other amount as may be specified by the Bank from time to time and it shall be levied as per the discretion of the Bank.

Penal Charges will be levied every year after 4 years till the construction is completed.

Renewal Fees (Applicable for Overdraft Product)

₹ 5,000/-

Not applicable for Money Saver and Insta OD.

Loan / Property Document Retreival Charges ₹ 500/-
Cash Transaction Charges (for repayment of EMI due in cash at branches) ₹ 100/-
Information utility charges (Only for corporate cases) ₹ 300/-
Non-refundable charges under Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) ₹ 100/-
Auction charges for repossessed asset At Actuals
Charges incurred in filing legal suit At Actuals
Charges incurred in SARFAESI proceedings At Actuals
Enforcement charges
At Actuals
Non Maintenance of Mode of Payment charges (NMMP)  ₹ 800/-
Paper advertisement charges
At Actuals
Professional charges (Advocate Charges/Retainer ship Charges)
At Actuals
Repossession charges At Actuals
Security guard charges At Actuals

 

Note :

  • Goods & Service Tax and other taxes, levies, etc. applicable as per prevailing rate will be charged over and above these charges
Range of Interest rates for Home Loans

Quarter ended on March, 2024 Minimum Maximum Mean

Home Loan

8.60%

11.40%

8.88%

Non Home Loan

9.00%

10.60%

9.44%

 

Note:

  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter IV - FY:2023-24
  • It includes various categories like fixed rate, floating rate and is based on factors such as loan amount, customer relationships, etc.
  • It excludes subsidy, government schemes.
  • Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.

Annual Percentage Rate

The Annual Percentage Rate (APR) is a method to compute annualized credit cost which includes interest rate and loan origination fee.

To calculate the same, please click here to download the APR calculator

Deliverable Type Deliverable Processing Turn Around Time (TAT)
Physical Email

Welcome Letter Post Disbursement of Loan

15 days

2 days

List of Documents

7 days

-

Copy of Property Documents

15 days

-

Foreclosure Statement

1 day

-

Amortization Schedule

7 days

1 day

Statement of Account

7 days

1 day

No Objection Certificate (NOC)

8 days (Post Loan Closure Date)

-

Income Tax Certificate

5 days

1 day

Reschedulement Letter - Conversion/Part Payment (Payment through Cash)

5 days

2 days

Reschedulement Letter - Conversion/Part Payment (Payment through Cheque)

11 days

8 days

Reschedulement Letter - Part Payment (Payment through Call Centre)

6 days

3 days

Handover of Original Property documents

15 days

-

 

Note : Except for welcome letter, the turn-around time of all other deliverables is post registration of service request. All days are considered as working days for turn-around time.