Home Loans – Processing Fee
The revised processing fee structure (including service tax) from 9th November 2009 is as under:
Loan Amount | Processing Fee(Revised) |
Upto Rs.5 Lac | Rs.1000/- |
Above Rs.5 Lac and upto Rs.10 Lac | Rs.2000/- |
Above Rs.10 Lac and upto Rs.20 Lac | Rs.5000/- |
Above Rs.20 Lac and upto Rs.50 Lac | Rs.7,000/- |
Above Rs.50 Lac and upto Rs.1 Cr | Rs.8,000/- |
Above Rs.1 Cr and upto Rs.5 Cr | Rs.10,000/- |
Above Rs.5 Cr | Rs.20,000/- |
NOTE1) 75 % of the processing fee may be refunded in the following cases:
(a) Rejection of loan application on account of unsatisfactory pre-sanction survey report.
(b) Rejection of loan application on account of unsatisfactory legal/valuation reports.
In cases where applications are sanctioned or rejected after complete loan processing, fee will not be refunded.
2)Actual charges for the following will be payable by the customer in addition to the processing fee:
a) Pre-sanction
(i) Advocate's fee for property search and the title investigation report.
(ii) Valuer's fee for valuation report.
b) Post-sanction
(i) Stamp duty payable for Loan agreement & mortgage.
(ii) Property insurance premium.
Pre-closure Penalty
No penalty if the loan is preclosed from own savings/windfall gains for which documentary evidence is produced by the customer.
