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Planning to apply for a Home Loan? It's important to understand the associated fees and charges. This page provides a comprehensive overview of the various fees you might encounter during the Home Loan process. From processing fees to documentation charges, we've got you covered. Here is a simple break down of the fees and associated charges, so you can make informed decisions about your Home Loan.
When applying for a Home Loan, it's important to understand the various fees and charges associated with the process. Here are some common types of Home Loan charges:
1. Processing Fees:
A one-time fee charged by the lender to process your loan application.
2. Documentation Charges:
Fees levied for verifying and processing the required documents.
3. Stamp Duty:
A government fee charged on the loan agreement.
4. Legal Fees:
Fees charged for legal services related to property title verification and other legal formalities.
5. Valuation Fees:
Fees charged for property valuation to assess its market value.
6. Prepayment Charges:
A penalty fee charged for prepaying the loan before the end of the tenure.
It's essential to inquire about these fees and charges upfront to avoid any surprises during the loan process.
Processing Fees / Documentation Charges:
Up to 3% of sanctioned amount + applicable taxes (this is inclusive of Login Fee)
Login Fees:
Up to ₹ 5000 (inclusive of applicable taxes)(non refundable)
Repayment / EMI Bounce Charges:
As shown in the table below
Penal Charge/Late Payment Charges (LPC):
2% per month on overdue EMI + applicable taxes
*LPC revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023
*Taxes applicable on LPC w.e.f. 1st Apr 2024
Annual Maintenance Charges:
NA
Duplicate NOC Charges:
First 3 paper copies - free of cost
₹ 250/- + applicable taxes
Repayment Swap Charges (per swap):
₹ 500/- + applicable taxes (applicable only for branch walk-ins)
Charges for documents:
Nil for Statement of Account/Repayment Schedule /Foreclosure Letter & Welcome Kit
Valuation Charges:
As per actuals
Documentation Charges:
As per actuals
Cash Pickup Charges:
NIL
Interest Rate Conversion Charges:
Up to 0.5% on Balance Loan Amt + applicable taxes (or) Minimum ₹ 10,000/– whichever is higher
List of documents:
₹ 300/ – +applicable taxes
Providing Photo copies:
₹ 500/ – +applicable taxes of the documents (property & others)
Charges incurred by LTF for initiating action under Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act 2002:
Issue of Loan Recall Notice = ₹ 500/ –
Actual cost incurred will be debited for expenses pertaining to Publication of Possession Notice/ Publication Demand Notice/Publication of Sale cum Auction Notice
Legal / Recovery Charges (Other than pertaining to SARFAESI):
As per actuals
Loan Cancellation Charges:
₹ 5000/ – + applicable taxes
Foreclosure / Full Prepayment Charges:
For Individual / Non-Individual Borrowers –
Foreclosure / Full Prepayment Charges – Home Loan:
Pre-payment Charges – Home Loan:
For Individual / Non-Individual Borrowers –
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