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Overview of Rates & Charges
IIFL Home Finance offers attractive interest rates Against its product offerings that ensure that your EMIs are affordable and stay light on your pocket during the loan tenure. At IIFL, we are transparent in our dealings and we do not believe in hidden charges that take customer by surprise. All charges or fees that a Home Loan Or a Secure SME Loan entails are given below:
Schedule of Charges : On Application
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| Processing Fees (Home Loans) | Upto 1.75% (Home Loans)Upto 2.00% (LAP) |
| CERSAI Fees | Rs 50/- (for loans <= Rs 5 lacs)Rs 100/- (for loans > Rs 5 lacs) |
| Transaction/Legal Handling charges in Balance Transfer – only Home Loans | Rs. 2500/- |
| Collateral Evaluation Charges in HL Non APF | Rs.3000/- |
| Collateral Evaluation Charges Non HL <=2 Cr. | Rs.5000/- |
| Collateral Evaluation Charges Non HL >2 to 5 Cr. | Rs.10000/- |
| Collateral Evaluation Charges Non HL > 5 Cr. | Rs.25,000/- |
| Collateral Evaluation Charges Project Finance <5Cr | Rs.15,000/- |
| Collateral Evaluation Charges Project Finance >=5Cr | Rs.1,00,000/- or actual charges, whichever is higher |
| Collateral Evaluation Charges in P+C transactions | Rs.5500/- |
| Sammaan and Samman Plus | Loan amount till Rs. 35 lacs: Rs.4000/-Loan amount above Rs.35 lacs: Rs.6000/- |
| Shakthi Loan | Loan amount till Rs. 5 lacs: Rs.2000/-Loan amount above Rs.5 lacs: Rs.4000/- |
| Presentation Charges | For HL/ Swaraj HL- Rs. 444/-For LAP/ Sammaan/ Secured business loan - Rs.313/-For Construction Finance / Project Finance cases - Rs. 129/- |
Note
The above charges are exclusive of applicable taxes, if any.
Schedule of Charges : During Term of Loan
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| Retrieval charges for original property document in IIFL custody (before/post loan closure) | Rs 2000/- per instancePost loan closure:Upto Loan Rs.1 Cr – Rs.1000/->Rs.1 cr - 2,000/- |
| Retrieval charges for Copies of loan /copies of property document in IIFL custody | Rs.500/-per instance |
| Cheque / ECS Dishonour Charges | Rs 500/- for each ECS/cheque bounce · Nil on Representation of ECS / Cheque |
| Late Payment Charges | 18% per annum of the overdue loan amount |
| Charges for Statement Of Account / Amortization Schedule | Nil |
| Custodial Fee for property documents in closed loans | Rs 500/- Per month (post 60 Days from Loan Closure Date) |
| Cheque/ECS Swapping charges | Rs 500/- per instance |
| Collection convenience Fee* | For Online Transaction: Rs. 100 /- per instance for online collection. This fee would not be charged if the customer makes a payment of below INR 500/- For cash Deposit: Rs. 200 per instance will be charged for depositing cash with channel partners. This fee would not be charged if customer makes a payment of below INR 500/- |
| Issuance of FC statement | Rs 500/- per instance |
Note
The above charges are exclusive of applicable taxes, if any.
Schedule of Charges - On Foreclosure / Pre-Payment:
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Home Loan During Floating ROI tenor
Individual and/or non-individual borrowers with or without co-borrower(s)
| Sources of funds | Foreclosure Charges (Full Prepayment/ Loan Foreclosure) | Pre-payment Charges (Part Prepayment) |
|---|---|---|
| Any source of funds | N/A | N/A |
Note
Loan to proprietorship shall be considered as "Loan to individual" only
Home Loan During fixed ROI tenor
Individual and/or Non-Individual borrowers with or without co-borrower(s)
| Sources of funds | Foreclosure Charges (Full Prepayment/ Loan Foreclosure) | Pre-payment Charges (Part Prepayment) |
|---|---|---|
| Any source of funds | N/A | N/A |
| Any other source of funds | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 3% of amount prepaid + taxes | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 1% of amount prepaid + taxes |
Note
The expression "own sources" for the purpose means any source other than by borrowing from a bank/ HFC/ NBFC and/or a financial institution.
Non HL During Floating ROI tenor
| End use of funds | Borrower Type- Individuals Foreclosure Charges (Full Prepayment/ Loan Foreclosure) |
Borrower Type- Individuals Pre-payment Charges (Part Prepayment) |
Borrower Type- Non-Individuals Foreclosure Charges (Full Prepayment/ Loan Foreclosure) |
Borrower Type- Non-Individuals Pre-payment Charges (Part Prepayment) |
|---|---|---|---|---|
| Other than business | N/A | N/A | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 3% of amount prepaid + taxes | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 1% of amount prepaid + taxes |
| Business use | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 3% of amount prepaid + taxes | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 1% of amount prepaid + taxes | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 3% of amount prepaid + taxes | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 1% of amount prepaid + taxes |
Non HL During fixed ROI tenor
Individual and/or Non-Individual borrowers with or without co-borrower(s)
| Sources of funds | Foreclosure Charges (Full Prepayment/ Loan Foreclosure) | Pre-payment Charges (Part Prepayment) |
|---|---|---|
| Own sources of funds | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 3% of amount prepaid + taxes | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 1% of amount prepaid + taxes |
| Any other source of funds | Within 12 months of 1st Disbursement - 5% of amount prepaid + taxesPost 12 months of 1st disbursement - 1% of amount prepaid + taxes |
