Various Charges And Expenses
Sr. No. Description Rates
1 Processing charges 3500/- to 10,000/- depending on GRUH’s scheme+ GST
2 Processing Fees 0.25% to 1.00% depending on GRUH’s scheme+ GST
3 Administrative Fees 0.25% to 2.00% depending on GRUH’s scheme+ GST
4 CIBIL charges for verification of financial details of Borrowers 150/ per individual + GST
5 CERSAI charges for registration, modification and release of charge plus GRUH’s service charges (a) For creation : 100/- per account + GST
(b) For satisfaction : NIL
6 Valuation report charges 2500/- per property being offered as security to GRUH. Applicable only for mortgage loans and old property purchase
7 Field Investigation Charges (a) 1000/- per visit for local +GST and
(b) 1500/- per visit for outstation + GST
8 Technical inspection charges (a) 1000/- per visit for local +GST and
(b) 1500/- per visit for outstation +GST
9 Search report and TCC charges 2000/- per property being offered as security to GRUH
10 Registration charges for registration of mortgage and release of charge Registration of mortgage and release actually levied by the State Govt. plus GST charge on 750/-.
11 Cheque/ECS bounce Charges 500/-+ GST
12 Overdue Interest (late payment of EMIs) 2% higher than the agreed rate of interest
13 Conversion charges 0.50% to 1.25% of the outstanding balance depending on the option of conversion exercise + GST
14 Copy of Income Tax Certificate Will be provided once free of cost for each financial year.
30/- per copy for subsequent requests+ GST
15 Prepayment charges (a)Fixed interest rate loans: i) In case of prepayment made through own sources: NIL charges subject to submission of satisfactory documentary proof of own sources of funds
ii) All other cases: 2% + GST
(b) Variable interest rate loans: i)If applicant and co-applicant(s) are “individual” category: Nil charges. ii) If any one or more of the applicants is company, firm, HUF, LLP, Trust, society etc.: 2% + GST
16 Account Admin Charges In case of the account is classified as NPA, 0.8% per month of the loan amount subject to minimum of 250/- per month plus GST
17 Statement of Account Will be provided once free of cost for each Financial Year.
100/- per copy + GST will be charged for each subsequent requests
18 Docket release plus account closure charges 250/- plus GST
19 Delay in realization of Cheque/Demand Draft/ECS 100/-plus GST
20 Other charges Other charges such as valuation charges, inspection charges etc. which may be made applicable vide regulations shall be carried out as per the requirement and necessary charges shall be debited to customers account.
Charges In Case Of Default
Sr. No. Description Rates
1 Reminder letters for outstanding of Equated Monthly Installments (EMIs) 100/- per letter+ GST
2 Visit to Guarantor/employer/customer (a) 100/- for local+ GST and
(b) 150/- for outstation+ GST
Legal Notices
Sr. No. Description Rates
1 Notice under Sec-138 of Negotiable Instruments Act 500/- branch and 1000/- by Advocate plus GST
2 Notice of caution 1000/- plus GST
3 Notice to recall the loan 1000/- plus GST
Action Under Sarfaesi Act, 2002
Sr. No. Description Rates
1 Notice under Sec. 13(2) of SARFAESI Act, 2002 2500/-+ GST
2 Reply to Borrowers against notice under Sec. 13 (3A) of SARFAESI Act. 1500/-+GST
3 Publication expenses in lieu of non-receipt of acknowledgement Actual
4 Filing of the application before the District Magistrate/CMM 5000/-+GST
5 Expenses incurred for Police/Mamalatdar or Tehshildar/Circle Inspector at the time of taking physical possession 5000/-+GST or actual
6 Expenses for Photography and video recording 750/-+GST
7 Publication of symbolic possession and physical possession notices Actual
8 Charges for taking possession of the mortgaged property 1500/- for symbolic possession and 2500/- for physical possession plus GST
9 Fee for valuation report from an approved Valuer 2500/-+GST
10 Fee for carrying out Title Clearance Certificate from an Advocate 2000/-+GST
11 Security and insurance charges to protect acquired assets Actual
 12 Brokerage / Sale expenses 2% of the offer price+ GST
13 Publication of sale notice cum invitation to tender Actual
14 Confirmation of Reserve Price by the Secured Creditor 1500/-+GST
15 Expenses incurred at the time of opening of tender and confirmation of sale 1500/-+GST
16 Advocate charges for SA application filed by the Borrower/third party under the SARFAESI Act 5000/-+GST
Fee For Panel Advocates
Sr. No. Description Rates
1 Fee for handling the cases before the Consumer Form, State Commission and National commission 5000/-, 10000/-, 15000/- Plus GST respectively or actual whichever is higher.
2 Fee for handling the cases before the DRT, DRAT and High Court 10000/-, 20000/- and 30000/- Plus GST respectively or actual whichever is higher.
3 Advocate fee for filing the complaint under Sec. 138 of NI Act Rs. 10000/-+GST per complaint
4 Advocate fee for handling the Civil Suit / other litigations 15000/- +GST per litigation
Other Charges
Sr. No. Description Rates
1 Publication of names and photograph of the defaulters Actual
2 Expenses incurred for taking out photo copy of title documents Actual

Note:

The charges mentioned here in above are subject to revisions from time to time depending upon the expenses, efforts etc. required for carrying out the aforesaid tasks.

Loan Conversion Options Available to Customer

GRUH offers conversion facility to existing loan customers subject to the following conditions :

  • Customers can opt for conversion from any interest rate option to any other interest rate option and from any amortization frequency to any other amortization frequency.
  • GRUH offers Variable rate, Semi Fixed rate and Fixed rate options for home loan customers who are having formal income proof
  • GRUH offers Annual, Monthly and Daily interest reset options for home loan customers who are having formal income proof
  • For other customers and other loan products, GRUH offers only Monthly variable home loan option.
  • Conversion can be opted only into an existing loan scheme being offered by GRUH
  • Purpose of loan cannot be changed.
  • Maximum three conversions can be opted during tenure of the loan
  • Conversion is subject to maximum ROI reduction of 1% subject to fresh credit appraisal.
  • Conversion option is subject to loan being serviced regularly.

Some of the major conversion options available are

  • Monthly Variable to Monthly Variable at lower rate of interest –charges applicable shall be 1.5% of the outstanding amount.
  • Monthly Variable to Monthly Fixed rate –charges applicable shall be 1.25% of the outstanding loan amount.
  • Annual Fixed to Monthly Variable rate –charges applicable shall be 2.00% of the outstanding loan amount.
  • Monthly Fixed to Monthly Variable rate –charges applicable shall be 1.75% of the outstanding loan amount.

EMI Calculation for Various Amortization Calculations

GRUH offers Annual, Monthly as well as Daily amortization options for home loans. In case of Annual options the amortization or reduction in principal happens only at the financial year end or at the time of a prepayment. Hence the effective ROI would be higher depending on the tenure and the ROI of the loan. The EMI of the annual amortization loan of the same ROI would be higher than that of a monthly amortization loan on account of this difference.