Types of fees
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Applicable charges
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Rate of interest (floating rate of interest)
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8% to 14% per annum
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Processing fee
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Up to 3.54% of the loan amount (inclusive of applicable taxes)
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Documentation charges
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Up to Rs. 2,360/- (inclusive of applicable taxes)
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Flexi fee
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Term Loan - Not applicable
Flexi Variant - Not applicable
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Prepayment charges
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Full prepayment
- Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of full prepayment
- Flexi Term Loan (Flexi Dropline): Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
- Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of full prepayment.
Part-prepayment
- Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part-prepayment.
- Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
Note: If all borrowers and co-borrowers are individuals, loan availed on floating interest rates, and loan taken for purposes other than business use, then there will be no foreclosure/ part-prepayment charges.
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Annual maintenance charges
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Term Loan: Not applicable
Flexi Term Loan (Flexi Dropline): Not applicable
Flexi Hybrid Loan: Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during Initial loan tenure. Not applicable for subsequent loan tenure.
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Bounce charges
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In case of default of repayment instrument, Rs. 1,500/- per bounce will be levied
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Penal interest
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Penal interest is applicable in the following scenarios:
1. Delay in payment of monthly instalment shall attract penal interest at the rate of 3.50% per month on the monthly instalment outstanding, from the date of default until the receipt of monthly instalment.
2. Default of other condition(s): In case of breach of terms of the loan agreement and/ or sanction letter terms, including but not limited to non-submission of requisite documents to BFL, it shall attract penal interest at the rate of 1% per annum on the loan amount till the date of rectification of such default to the satisfaction of BFL. The effective date of levying of penal interest shall commence from the date of committing the default, unless otherwise communicated to the borrower(s) in writing before the penal interest is levied.
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Stamp duty (as per respective state)
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Payable as per state laws
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Mandate rejection charges
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Rs. 450/- per month from the first month of due date for mandate rejected by customer's bank until the new mandate is registered
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Broken period interest/ pre-EMI interest
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Broken period interest/ pre-EMI interest shall mean the amount of interest on Loan for the number of day(s) which is(are) charged in two scenarios:
Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:
In this scenario, broken period interest is recovered by the following methods:
- For Term Loan: Deducted from the loan disbursement
- For QDP process and disbursement mode is cheque: Added to the first instalment
- For Flexi Term Loan: Added to the first instalment
- For Flexi Hybrid Loan: Added to the first instalment
Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:
- In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
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Mortgage origination fees
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Up to Rs. 1,20,000/- per property (inclusive of applicable taxes)
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Property insight (if availed)
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Rs. 6,999 (inclusive of applicable taxes)
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