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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Late Payment Interest (LPI) | 2% per month (p.m.) on overdue EMI + applicable taxes *LPI revised from 3% to 2% per month on overdue EMI w.e.f. 4th Dec 2023 | ||||||||||
Annual Maintenance charges | NA | ||||||||||
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 • Floating Rate – 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 • Floating Rate – for cases where end use is for business/commercial purpose • Less than 1 year from disbursement – upto 3% on partial outstanding + 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 | ||||||||||
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” |
Charge Type - LAP - Dropline Overdraft and Hybrid Overdraft Facility | Details |
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Annual Maintenance Charges | 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). |
Foreclosure / Full prepayment Charges – Loan Against Property | For Individual Borrowers – • Floating Rate – Nil Charges where end use is not for business/commercial purpose • Floating Rate – for cases where end use is for business/commercial purpose • Less than 1 year from disbursement – upto 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% on Dropline 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 |
Part Pre-payment charges | 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 |
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.
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 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.
I want to share that your customer care system is so caring that the client feels, they are in safe hands. Entire team works in synergy, which I personally appreciate. I thank the entire team for the great work you are doing for your clients.
The process was user friendly and very smooth. Mukesh was very helpful in guiding me through the journey and gave me proper guidance.
I have taken my 3rd loan from L&T Finance to run my clothing business. Firstly, I started the business from home and eventually got a rental shop which helped increase my customer base. I was able to grow my business with the help of this loan. Thank you for your on time support.
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GET A CALLBACKBrindavan Building, Plot No 177
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Kalina, Santacruz (E), Mumbai 400 098
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