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Non-refundable charges under Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI)

Charges Mortgages Loans
Loan Processing Charges (Non Refundable) 0.50% - 2.00% of the loan amount or Rs. 3000/- whichever is higher plus applicable taxes (including GST) and other statutory levies, if any. 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 plus applicable taxes.
(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 of amount prepaid plus applicable taxes and/or other statutory levies.
Prepayment Charges 1. For the Facility with Fixed Interest Rate at the time of prepayment:

a) 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.

b) 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.

c) 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 Rs. 50 lacs.

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

a) Nil prepayment charges on home loan, home improvement loan and land loan.

b) 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.

c) 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. 

d) 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.

e) 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.

f) Nil prepayment charges on Money Saver Account.
Conversion charges (from
floating (adjustable) to
Fixed, from Fixed to Floating
(adjustable) and from Floating
(adjustable) to another Floating
(adjustable))
For all floating (adjustable) rate
linked term loan to Fixed or floating
(adjustable) Rs. 3,000.
• For Overdraft - 0.5% of the principal outstanding
• Semi Fixed / Fixed Interest Rate to
Adjustable Interest Rate - 2% of the principal outstanding
Cheque/ECS/NACH dishonor Charges, per transaction Rs. 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. The applicable taxes and/or other statutory levies shall be levied over and above charges charged by the Bank. 
Property Document retrieval charges Rs. 500/-plus applicable taxes and other statutory levies, if any.
Cheque/Repayment mode swap charges Rs. 500/-plus applicable taxes and other statutory levies, if any.
Late Payment Fees (Applicable for Overdraft
Product)
Rs. 500/-plus applicable taxes and other statutory levies, if any.
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 Rs. 200/- for physical print out, Nil for digital channels
Charges for Statement of account Rs. 200/- for physical print out at the branch
Charges for prepayment statement Rs. 200/- for physical print out at the branch
Charges for duplicate NOC/No Dues Certificate Rs. 250/- plus applicable taxes and other statutory levies, if any.
Penal charge for non submission of post disbursement documents Rs. 5000/- plus applicable taxes and other statutory levies, if any. Every month the said charge will be levied from the day the document is due till the same is not submitted.
Penal charges for non collection of property documents post 60 days from the loan closure date Rs. 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) Applicable for Overdraft Product:
Rs. 5,000/-
Not applicable for Money Saver and Insta OD.
Loan Document Retrieval charges Rs. 650/- plus applicable taxes and other statutory levies, if any.
Cash Transaction Charges (for repayment of EMI due in cash at branches) Rs. 100/-plus applicable taxes and other statutory levies, if any.
Information utility charges (Only for corporate cases) Rs. 300/-plus applicable taxes and other statutory levies, if any.
Non-refundable charges under Central Registry of Securitization Asset Reconstruction and Security Interest of India (CERSAI) Rs. 100/-
No Objection Certificate / No Due Certificate Nil
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/-plus applicable taxes and other statutory levies, if any.
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 Mortgage Loans

Quarter ended on December, 2023 Minimum Maximum Mean
Home Loan 8.60% 10.35% 8.81%
Non Home Loan 8.85% 11.30% 9.43%

 

Note:


  • The range of interest rates provided above is with respect to loans to individuals disbursed during Quarter III - 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.

 

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