Charge Type - Loan Against Property - Term Loan | Details | ||||||||||
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Processing Fee | Up to 3% of sanctioned amount + applicable taxes (this is inclusive of Login Fee) | ||||||||||
Login Fee | Up to ₹ 5000 (inclusive of applicable taxes) | ||||||||||
Repayment/EMI Bounce Charges |
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Penal Charge/Late Payment Charge (LPC) | 2% per month (p.m.) 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 April 2024 | ||||||||||
Annual Maintenance Charges (applicable only for Dropline Overdraft and Hybrid Overdraft) | Up to 0.25% + GST of Dropline Limit available at start of each year (i.e. first on 13th Month and then every anniversary thereon). | ||||||||||
Duplicate NOC Charges (Charge is applicable for paper copy post 3 free copies per customer) | ₹ 250/- + applicable taxes | ||||||||||
Repayment Swap Charges ( per swap) | ₹ 500/- + applicable taxes | ||||||||||
Charges for documents like Statement of Account /Repayment Schedule /Foreclosure Letter & Welcome Kit | Physical copy at a charge of ₹500/- + GST per statement/letter/certificate. Digital is NIL | ||||||||||
Valuation Charges | As per actuals | ||||||||||
Documentation Charge | As per actuals | ||||||||||
Cash pickup charge | Nil | ||||||||||
Interest Rate Conversion Charge | 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 of the documents (property & others) | ₹ 500/- +applicable taxes | ||||||||||
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/ – • Issue of Demand Notice = ₹ 1,000/ – • Issue of Possession Notice = Rs. 2,000/ – • Applying District Magistrate Order = ₹ 8,000/ – • Taking Physical possession = ₹ 20,000/ – 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 | ||||||||||
Recovery of proportionate actual expenses from disbursement date(s), from individual borrower(s) in | LAP – Upto 1% of total disbursed loan amount + applicable taxes in case of closure within 24 months | ||||||||||
Foreclosure / Full prepayment Charges – Loan Against Property | For Individual Borrowers – • Floating Rate – Nil Charges where end use is not for business/commercial purpose For cases where end use is for business/commercial purpose • Less than 1 year from disbursement – upto 3% on principal outstanding + applicable taxes • Post 1 year of disbursement – upto 2% on principal outstanding + applicable taxes • Fixed Rate – Less than 1 year from disbursement – up to 4% principal outstanding + applicable taxes • Post 1 year of disbursement – up to 3% on principal outstanding + applicable taxes For Non-Individual Borrowers – (Applicant/Co – applicant) • Fixed/Floating Rate loan – Less than 1 year from disbursement – up to 4% principal outstanding + applicable taxes • Post 1 year of disbursement – up to 3% on principal outstanding + applicable taxes | ||||||||||
Pre-payment Charges – Loan Against Property | For Individual Borrowers – • Floating Rate – Nil Charges where end use is not for business/commercial purpose For cases where end use is for business/commercial purpose • Less than 1 year from disbursement – upto 3% on partial/Pre-payment amount + applicable taxes • Post 1 year of disbursement – upto 2% on Partial/Pre-payment amount + applicable taxes • Fixed Rate – Less than 1 year from disbursement – up to 4% Partial/Pre-payment amount + applicable taxes • Post 1 year of disbursement – up to 3% on Partial/Pre-payment amount + applicable taxes For Non–Individual Borrowers – (Applicant/Co – applicant) • Fixed/Floating Rate loan – Less than 1 year from disbursement – up to 4% Partial/Pre-payment amount + applicable taxes • Post 1 year of disbursement – up to 3% on Partial/Prepayment amount + applicable taxes | ||||||||||
Foreclosure / Full Prepayment Charges – for Dropline Overdraft / Hybrid Overdraft | For Individual Borrowers – • Floating Rate – Nil Charges where end use is not for business/commercial purpose For cases where end use is for business/commercial purpose • Less than 1 year from disbursement – up to 3% on Dropline Limit + applicable taxes • Post 1 year of disbursement – upto 2% on Dropline Limit + applicable taxes • Fixed Rate – Less than 1 year from disbursement – up to 4% Dropline Limit + applicable taxes • Post 1 year of disbursement – up to 3% onDropline Limit + applicable taxes For Non-Individual Borrowers – (Applicant/Co – applicant) • Fixed/Floating Rate loan – Less than 1 year from disbursement – up to 4% Dropline Limit + applicable taxes • Post 1 year of disbursement – up to 3% on Dropline Limit + applicable taxes | ||||||||||
Pre-payment Charges – – for Dropline Overdraft / Hybrid Overdraft | Not allowed till the day after the First Due Date. No Charges applicable from the day after the First Due Date. Part pre-payment of Loan toward limit reduction is not available | ||||||||||
Switch Charges (Switch from floating interest rate to a fixed interest rate) | Up to 1% on principal outstanding loan amount + applicable taxes (or) minimum Rs.10,000/– whichever is higher | ||||||||||
Non-Compliance Charges | Up to 1% p.a. of principal outstanding loan amount + applicable taxes | ||||||||||
Breakup between Principal & Interest | As per Repayment Schedule | ||||||||||
Example of SMA/ NPA classification | More particularly mentioned under “Classification of Assets” under the head “Miscellaneous” |
It was indeed great to be associated with L&T Finance, the sales team here is very supportive and committed. Services provided are beyond delight and it was a pleasure interacting with them. The process of my home loan application was very simple and easy and the overall process was smooth.
I feel immensely grateful for your active cooperation and your cooperation has been outstanding and commendable. Without your contribution, it would be difficult for me to get my loan pass in a short period. Thank you for your untiring efforts and diligent work. Hats off for your support and guidance.
I am very much satisfied with the loan scheme of L&T finance. They have approved the loan within a very short time and the Yamaha MT bike was one of my dream bikes and I got the bike with support and help of L&T finance and a bit of down payment.
I got a loan from L&T Finance. It was a very smooth and easy loan process. I just brought my KYC documents and got loan within five minutes, and the rate of interest is also very low. I am really very pleased with L&T Finance.
I really appreciate the No-Hypothecation scheme in which the interest rate is low and there is no hypothecation in Registration Certificate Card, which makes it a lot easier for the customer during closure of the loan.
I have upskilled myself and look forward to starting my own venture soon. Smooth process, disbursement in 15 mins of process completion. Extremely satisfied with the assistance of the Call center.
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