Rate of Interest |
12.75% with monthly rest on Fixed Rate basis |
Prepayment penalty/ Documentation & Inspection Charges |
NIL |
Process Fee |
0.50% of total Loan amount or half of the first monthly annuity payable to borrower, whichever is less, subject to maximum of ₹ 12,500/- only |
Other Expenses |
- The legal fee/ charges stamp duty, registration charges, valuation charges, document stamp charges, & insurance premium of property etc shall be borne by the borrower(s).
- In the eventuality of non-payment of above said expenses, bank will recover these expenses on prorata basis on the monthly annuity payable to borrower(s) within a period of upto 24 months.
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Loan period/ nature of payment |
- The tenor of the loan shall be upto 20 years or survival of any of the spouse whichever is earlier, thereafter periodic annuity payment will not be made.
- The loan shall be extended as regular monthly annuity payments during the loan period
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