Interest Rates and Charges
IIFL offers the Samman Loan Against Property at an attractive and competitive interest rate, starting from 16%*.
Other rates and charges are as follows
| Type | Charges |
|---|---|
| Processing Fee | Upto 3.00 % of loan amount |
| Collateral Evaluation Charges in Non-APF HL & non HL | Rs 3000-25000/- depending on loan amount |
| Transaction/Legal Handling charges in Balance Transfer | Rs 2500/- |
| CERSAI Fees | Rs 100/-(for Loans>5Lacs) Rs 50/-(for Loans<=5Lacs) |
| ACH Dishonour Charges | Rs500/- for each ACH bounce - Nil on Representation of ACH |
| Late Payment Charges | 36% per Annum of Outstanding EMI |
| ACH Swapping charges | Rs 500/- per instance |
| Retrieval charges for original property document in IIFL custody (before loan closure) | Rs 2000 |
| Retrieval charges for original property documents in IIFL custody at the time of loan closure OR Rs 1000/- per instance for loans upto Rs 1 cr AND | more than 2 documents retrieved during tenor of loan Rs 2000/- per instance for loans > Rs 1 cr |
| Retrieval charges for Copies of loan /copies of property document in IIFL custody | Rs 500/- per instance |
| Charges for Statement Of Account / Amortization Schedule | Nil |
| Collection Visit Charges | Rs 500/- per instance |
| Issuance of FC statement | Rs 500/- (for 2 instances within 1 month) |
| Custodial Fee for property documents in closed loans | Rs 500/- Per month (post 60 Days from Loan Closure Date) |
Prepayment Charges
The prepayment charges for Samman Loan are as follows:
| For Individuals | ||
|---|---|---|
| During Fixed Tenor | Floating Rate | |
| For Full Prepayment | 5% | Nil |
| For Part Prepayment | 5% | Nil |
The above Grid is applicable only in case of Funds sourced from own sources.
| For Non-Individuals | |||
|---|---|---|---|
| From 12 months of 1st disbursement | Post 12 months of 1st disbursement | ||
| Pre-payment Charges | 5% | 1% | |
| From 36 months of 1st disbursement | From 37 Months to 60 months of 1st disbursement | Post 60 months of 1st disbursement | |
| Full Payment Charges | 5% | 4% | 3% |
Note: *All charges, interest, tax, fee, GST and all other imposts, taxes, levies etc. as prescribed by any statutory/regulatory bodies from time to time shall be solely borne by the Borrower. The above mentioned charges, fees, GST etc areas on date of the Loan Agreement and other transaction documents and the charges above stated are subject to change from time to time. GST is applicable over & above the charges specified above.