Cheque / ECS / NACH Dishonour Charges per Transaction

Cheque Swapping Charges

Rs. 500/- (Rupees Five Hundred Only)

Late Payment Charges after Due date

30.00% Per Annum per day post the due date of instalment.

Charges for Statement of Account, Foreclosure Letter, List of Documents or Duplicate No-Objection Certificate

Rs. 2000/ (Rupees Two Thousand Only) – For each document request as listed.

Document Handling Charges (Original)

Rs. 2000/ (Rupees Two Thousand Only)

CERSAI Charges

1. CERSAI Creation : 
   1. Loan Amount up to Rs. 5.00 Lakh: Rs. 50/- (Rupees Fifty Only)
   2. Loan Amount more than Rs. 5.00 Lakh: Rs. 100/- (Rupees One Hundred Only)
2. CERSAI Modification : Same as above
3. CERSAI Discharge : Nil

Sanction Revalidation Charges (after sanction validity expiry date)

Rs. 1500/-(Rupees One Thousand Five Hundred Only)

Legal Scrutiny Report & Technical (Valuation) Scrutiny Report/Visit Charges

1.    First Time Legal Scrutiny Report - Free
2.    Technical (Valuation) Scrutiny Report/Visit – Free
3.    Technical Visit for subsequent part/full disbursement - Rs. 750/-(Rupees Seven Hundred Fifty only)
4.    Second/more times Legal Scrutiny Report - Rs. 2000 (Rupees Two Thousand Only) for each for each Report.
5.    Second/more times Technical (Valuation) Scrutiny Report/visit - Rs. 2000 (Rupees Two Thousand Only) for each Report/Visit.

Collection Visit Charges

Charges for personal visit - collection in case of overdue account (In a month)

First visit: Rs. 250/- (Rupees Two Hundred and Fifty only) plus applicable taxes

1. Every subsequent visit in the same month will attract an additional of Rs.250/- (Rupees Two Hundred and Fifty only) over and above the previous visit charges. i.e. for second visit Rs.500/- and for third visit onwards Rs.750/- plus applicable taxes

Disbursement Cheque Cancelation & Re-issuance

Rs. 1000/- (Rupees One Thousand Only)

Processing Fee Refund Norms

In the event of loan being rejected by MOHFL post sanction or disbursement for any specified reasons or in the event of applicant withdrawing his application himself, the collected processing fee will be refunded to the borrower subject to deduction of following charges

• Rs. 10,000/- (Rupees Ten Thousand Only) or 1.00% of sanction amount whichever is higher. Exclusive of initial Processing Fee received.
• Interest payable as applicable will be deducted.

• Collected statutory taxes

Pre-payment and foreclosure charges & norms

## Individual & Non Individual* Customers: All loans disbursed at semi fixed ROI, the prepayment charge shall be levied at the rate of 5.00%, plus applicable taxes and statutory levies and charges, of the outstanding amounts being so prepaid through refinance from any Bank/HFC/NBFC or Financial Institution (such amounts shall include all amounts prepaid during the given financial year) and not through own sources** and shall be applicable to all partial or full prepayments.

*Non Individual Borrower: All loans sanctioned with company/ Sole Proprietorship Concern/Firm or an HUF as co-applicant **Own Source of Fund : This purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution. Note: Customer need to submit such documents that deem fit & proper to ascertain the source of funds at the time of pre-payment of the loan.

Turn Around Time (TAT) to release the List of documents (LOD)/ Foreclosure Letter (FCL) is 60 working days

Request for foreclosure letter/payment received between 26^th day to last day of the month shall be processed after 3^rd day of next month. Similarly, request for foreclosure letter/payment received between 1^st day to 3^rd day of the month shall be processed after 3^rd day of the same month.

SMA & NPA Classification

In case of delay in payment of EMI, the lender will classify the borrower account immediately as Special Mention Account (‘SMA’)/ Non Performing Asset (‘NPA’) at the day end of due date of calendar date.
Example: If due date of EMI of a loan account is March 31, 2021, and full dues are not received before the lender runs the day-end process for this  date, the date of overdue shall be March 31, 2021. If it continues to remain overdue, then this account shall get reported as SMA-1 upon running day-end process on April 30, 2021 i.e. upon completion of 30 days of being continuously overdue. Accordingly, the date of SMA-1 classification for that account shall be April 30, 2021.

Similarly, if the account continues to remain overdue, it shall get reported as SMA-2 upon running day-end process on May 30, 2021 and if continues to remain overdue further, it shall get classified as NPA upon running day-end process on June 29, 2021.
 

Conversion Charges

Fees to convert type of rate from fixed to floating or vice-versa will be charged as 2.00% of Prinicipal Outstanding
 

Other Norms

1. In case of funding against the Plot purchase or Plot + Construction,if borrower does not construct the house on the plot within stipulated timeline as per the Loan Sanction Letter/Loan Agreement or Regulatory Guidelines, the loan shall be converted to Non-Home Loan.
2. The loan account thus may  attract increase in ROI as per the terms and condition mentioned in the loan sanction letter.

Legal Charges in case of delay in repayment

In event of delay in payment of EMI or PEMI, the borrower shall be liable to pay legal charges such as legal fees, court fees etc. as well, incurred by MOHFL for such delayed payment.

Preferred Payment Mode

In case of part payments, online payment mode using the MO Parivaar App will be recommended.