Home Loans for All
Rates and Charges
| 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 of mortgage charge actually levied by the State Govt plus GRUH’s service charge of 750/- + GST. |
| 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 + 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/- + GST |
| 19 | Delay in realization of Cheque/Demand Draft/ECS | 100/- + 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. |
| 21 | Charges for payment made through Mobile App | Mobile App Handling Charges: Rs.100/-+GST Mobile App Local Transaction Charges: Rs.100/-+GST Mobile App Outstation Transaction Charges: Rs.150/- +GST |
| 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 + GST |
| 2 | Notice of caution | 1000/- + GST |
| 3 | Notice to recall the loan | 1000/- + 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 + 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/- + GST respectively or actual whichever is higher. |
| 2 | Fee for handling the cases before the DRT, DRAT and High Court | 10000/-, 20000/- and 30000/- + 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.
