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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. 01.01.2018

I. Loan processing charges

Home Loan

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

Waived till 31.03.2018

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 GST. Waived till 31.03.2018

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

Waived till 31.03.2018

If the Lead is generated through car dealers

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

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/- +GST, if any.

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

Oriental Mortgage Loan Scheme

Overdraft Limit

0.10% of loan amount + GST, 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 + GST, if any (One Time Fee)

Oriental Personal Loan Scheme

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

Oriental scheme for financing against Govt. Securities

Rs. 10/- per certificate with a minimum of Rs. 50/ +GST, 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 GST, 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

 
 

Loan Limits upto ? 10.00 Lac

Consolidated fee of ? 500/- per account per instance of vetting

 

Loan Limits above ? 10.00 Lakh to ? 1.00 crore

Consolidated fee of ? 1000/- per account per instance of vetting

 

Loan Limits above ? 1.00 crore to ? 5.00 crore

Consolidated fee of ? 1500/- per account 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.

Ø  GST as per rules and applicable from time to time shall be paid in addition to the charges mentioned hereinabove.

Ø  For Category A valuers, where value of the property is above Rs. 10.00 crore, valuation fee shall be Rs. 15000.00

 

6.    CIBIL REPORT EXTRACTION CHARGES FOR INDIVIDUALS 

  • Consumer CIR along with Combo Score: Rs. 62.00+GST(as applicable)
  • In case of non-availability of any Data / Report (NO MATCH FOUND) for a person under Consumer Segment: Rs. 33.00 + GST(as applicable)
  • Commercial CIR : Rs. 700.00+GST(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. 50.00 + applicable GST

Rs. 100.00 + applicable GST

2

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

Rs. 10.00 + applicable GST

 

3

Satisfaction or Correction of any existing Security Interest

Nil

4

Any application for condonation of delay up to 30 days

 

1. In case of creation of security interest for a loan up to Rs.5.00 lac : Not exceeding Rs.500.00

 

2. In case of creation of security interest for a loan above Rs.5.00 lac :

Not exceeding Rs.1000.00

 

8.    PROPERTY INSURANCE CHARGES: Actual 

9.    CHQ BOUNCE / ECS / SI DISHONOUR CHARGES 

Penalty of Rs. 250/- + GST 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.