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Home >> Customer Care >> Services Charges & Fees >> Charges on Retail Loan Schemes
Charges on Retail Loan Schemes

Annexure - II

Charges on Retail Loans Schemes (Loan to Individuals) w.e.f. 01.04.2017

I. Loan processing charges

Home Loan

0.50% of the loan amount, subject to maximum of Rs 20000/- plus  service tax, if any

Car / Vehicle Loan

If the customer is directly approaching the branch

Two Wheelers: 0.50% of loan amount subject to minimum of Rs 500/- plus ST.

Four Wheelers: 0.50% of loan amount subject to minimum of Rs 500/- & maximum Rs 7000/- plus ST.

If the Lead is generated through car dealers

Four Wheelers: 1% of loan amount subject to minimum of Rs 500/- & maximum Rs 7000/- plus ST.

Note: The staff members (working or retired) are exempted from paying the process fee.

Education Loan

Institutions

Process Fees

For study in India

NIL irrespective of loan limit

For study abroad:

Upto  Rs 4.00 Lac - Nil

Above Rs 4.00 Lac - 1 % of loan amount subject to Minimum  Rs.10000/-  +Service tax, if any.

For study abroad: The fee would be refunded to the student on taking up the course (excluding service tax if paid to Government).

Oriental Mortgage Loan Scheme

Overdraft Limit

0.10% of loan amount + Service Tax, if any (Recurring Fee). The fee shall be charged at the time of review/renewal of OD limit.

Term Loan

0.50% of Loan amount + Service Tax, if any (One Time Fee)

Oriental Personal Loan Scheme

0.50% of the loan amount with a minimum of Rs 500/- +Service tax, if any.

Oriental scheme for financing against Govt. Securities

Rs 10/- per certificate with a minimum of Rs 50/ +Service tax, if any. However, postal charges, if any, shall also be paid by the borrower.

Oriental Loan against Gold Ornaments Scheme

0.50% of the loan amount plus service tax, if any.

Oriental Loan against Deposit

NIL

Earnest money scheme

NIL

Reverse Mortgage

0.50% of total Loan amount or half of the first monthly annuity payable to borrower, whichever is less, subject to maximum of  Rs.12,500/- only.

 

II. Apart from above mentioned process fee, following are the other fees / charges applicable on various types of loans to individual borrowers:

 

A.   LOAN WHERE PROPERTY IS NOT MORTGAGED

Charges

Vehicle Loan

*Personal Loans

Advance against Gold Ornaments

CIBIL Report Extraction

Detailed below

Detailed below

Detailed below

Insurance

Actual

Actual (If applicable)

Actual

Penal Interest

Detailed below

Detailed below

Detailed below

Cheque bounce / ECS/ SI dishonour

Detailed below

Detailed below

Detailed below

Interest Switch over Charges

Not Applicable

Applicable on Education Loans (Detailed below)

Not Applicable

Inspection Charges

Nil

Nil

Nil

 

* Personal Loan, Education Loan and Earnest Money Finance (where property is not mortgaged)

B.   LOAN WHERE PROPERTY IS MORTGAGED

Charges

Home Loan and other Mortgage based Loan

CIBIL Report Extraction

Detailed below

Legal Opinion Charges

Detailed below

Valuation Charges

Detailed below

CERSAI Creation

Detailed below

Insurance

Actual

Penal Interest

Detailed below

Cheque bounce / ECS/ SI dishonour

Detailed below

Documentation Charges

Detailed below

Interest Switch over Charges

Applicable on Housing & Education Loans (Detailed below)

Prepayment Penalty

Nil

Inspection Charges

Nil


LIST OF CHARGES

1.    PRE-PAYMENT PENALTY/PRE-CLOSURE: NIL

2.    STAMP DUTY - Actual State-wise

3.    DOCUMENTATION CHARGES -NIL

4.    LEGAL OPINION CHARGES: 


A)  Professional Fee 

Amount Involved

Major Cities

Other Cities

Urban & Semi Urban

Rural

Upto Rs 1 crore

Rs 2000/- per property

Rs 1000/- per property

Rs 500/- per property.

Above Rs 1 Crore

Rs 3000/- per property

Rs 2000/- per property

Rs 1000/- per property

 

B) Vetting Charges:

Amount of Loan

Charges

 
 

Above Rs 1 lacs and to Rs 1 crore

Rs 1000/- per A/c per instance of vetting

 

Above Rs 1 Crore to Rs 5 crore

Rs 1500/- per A/c per instance of vetting

 

 

C) Other Charges

Actual expenses like search fee paid, typing charges etc. supported by receipts/ bills, depending upon the amount involved will also be paid to the concerned advocate. 

5.    VALUATION CHARGES 

Value of the property

Valuation Fee

Up to Rs 10.00 Lac

Rs 2000.00

Above Rs 10.00 Lac to Rs 20.00 lac

Rs 2500.00

Above Rs 20.00 lac to Rs 50.00 lac

Rs 3000.00

Above Rs 50.00 lac to Rs 1.00 crore

Rs 5000.00

Above Rs 1.00 crore to Rs 5.00 crore

Rs 7500.00

Above Rs 5.00 crore

Rs 10000.00

 The above rates are indicative only and the rates will be fixed depending upon the local conditions.

An upper cap of Rs 10000/- (Rupees Ten Thousand) only is fixed. Service Tax as per rules and applicable from time to time shall be paid in addition to the charges mentioned hereinabove.

For very specialised or high value properties, the rates may have to be negotiated on case to case basis in consultation with the owners of the property.

 

6.    CIBIL REPORT EXTRACTION CHARGES FOR INDIVIDUALS

  • Consumer CIR along with Combo Score: Rs 62.00+Service Tax(as applicable)
  • In case of non-availability of any Data / Report (NO MATCH FOUND) for a person under Consumer Segment: Rs 33.00 + Service Tax(as applicable)
  • Commercial CIR : Rs 700.00+Service Tax(as applicable)
  • In case of non-availability of any Data / Report (NO MATCH FOUND): NIL

7.    CERSAI Charges

SCHEDULE OF FEE / CHARGES

S. No.

Nature of transaction to be Registered

Amount of fee payable

1

Particulars of Creation or Modification of Security Interest in favour of Secured Creditors

For creation and for any subsequent modification of security interest in favour of a secured creditor for a loan

Upto Rs 5.00 Lakh

Above Rs 5.00 Lakh

Rs 250.00 + applicable Service Tax

Rs 500.00 + applicable Service Tax

2

Any application for information recorded / maintained in the Register by any person/ Search of the Property

Rs 50.00 + applicable Service Tax

 

3

Satisfaction or Correction of any existing Security Interest

Nil

 

8.    PROPERTY INSURANCE CHARGES: Actual

9.    CHQ BOUNCE / ECS / SI DISHONOUR CHARGES 

Penalty of Rs 250/- + ST for every bounced cheque/ECS or SI dishonours related to payment of EMI.

10.  PENAL INTEREST:  Shall be applicable over the normal rate of interest on overdue amount and for overdue period. 

  • In Education Loan:
    • Loans Upto Rs. 4.00 Lacs- NIL
    • Loans above Rs. 4.00 Lacs- 2%
  • In all other Retail Loans: 2%

 

11.  INTEREST SWITCH-OVER CHARGES

  • Housing Loans - 0.50% of outstanding of loan amount as on the date of switch over subject to maximum of Rs 50000/-
  • Education Loans - 0.50% of outstanding loan amount as on the date of switch over

Note: Out of pocket expenses, if any shall be borne by the borrower.