MOST IMPORTANT TERMS AND CONDITIONS

Transcription

1 MOST IMPORTANT TERMS AND CONDITIONS Following are the Major Terms and Conditions agreed between (Borrower) and the (Housing Finance Co) are as under Loan Loan Amount Purpose of Loan Rate of Interest Tenure To be determined on the basis of Credit appraisal of the profile, income and valuation of the security being offered Acquisition of residential unit Prevailing Floating / Fixed / Dual Rate Fees & Charges (Conditions Apply) Processing Fee Stamp Charges: Loan Cancellation Charges: Cheque dishonour charges/rejection of ECS mandate Pre Payment Charges: Foreclosure Charges: 0.50% plus service tax* Amount Payable at the time of Application: For Loan Amount less than 1 Cr Rs. 5,000/- + service tax For Loan Amount more than 1 Cr Rs. 10,000/- + Service Tax The balance processing fee would be collected on sanctioning of the loan. The initial processing fee paid is non refundable and subsequent to disbursement, the balance processing fees is also non refundable. *Special schemes available for salaried customers ** Please check the sanction letter for your Loan offer As per applicable rates in the state Rs. 1000/- + applicable taxes Rs.700/- for every Cheque dishonor/ rejection of ECS/auto debit No penalty is charged on Partial pre-payment up to max 25% of principal outstanding in a year. Part Pre payment of more than 25% of principal outstanding will attract a 2% pre payment charges. (1) No foreclosure charges applicable: (a)where the housing loan is floating interest rate basis and (b) where the housing loan is on fixed interest rate basis and pre-closed out of the customers own sources. (2) Where housing loan is on fixed interest rate basis and pre-closed other than own sources, 2% plus taxes will be charged on the principal outstanding and all part payments, if any, made within immediate preceding 12 months of such foreclosure.

2 PDC Swapping Charges: Delayed Payment Charges Annual Account Maintenance Charges CERSAI Charges (Non- Refundable) For Loans upto Rs. 5 Lacs (for an original filing and for modification) For Loans above Rs. 5 Lacs (for an original filing and for modification) Collection Agency Charges Legal Charges PDC Charges (Repayment mode other than ECS) Charges for Photocopy of original title deeds of property Rate Swap Charges Charges for copy of loan agreement 550/- per swap instance HOME LOANS % per month over and above prevailing interest rate. HOME EQUITY % per month over and above prevailing interest rate. Rs.250/- Rs. 250/- (per filing/modification) Rs. 500/- (per filing/modification) As per Actuals As per Actuals Rs. 750/- Rs. 250/- 0.50% of the POS for Switch from floating to floating Rates switch with minimum fee of Rs % of the POS for switch from floating to Fixed Rates NIL for first request (Second request for duplicate Rs.250/-) Service Tax and any other Government taxes, levies etc applicable as per prevailing rate may be charged over and above these charges Security for the loan Mortgage Guarantee Other Securities Details of Mortgage with Address/ownership Details of Guarantors if applicable Any other Security if applicable **Insurance Details Insurance of Property if applicable Insurance of Borrowers if applicable

3 ** Insurance is subject to acceptance of customer Any other Terms & Conditions for fulfillment Repayment of Loan EMI Amount Mode of Repayment No of Installments Part Prepayment Full Prepayment ROI Change Advance Intimation time period (Floating / Dual Rate) Procedure of Recovery of Dues (brief note to be inserted) Telecalling to the Borrower / Co-Borrower after dishonour of mandate for ECS / Auto debit or bouncing of cheques. Field visit by the collection representative at the address of the Borrower / Co-Borrower. Loan Recall notice after happening of an Event of Default with notice period of 10 days. Initiation of legal action after 7 days notice period for enforcement of mortgage. Customer Service Branch Visiting Hours Branch Customer Care Contact details 9.30 a.m. to 6 p.m. customercare@tatacapital.com Toll-free No days 1 day 2 weeks 2 weeks Interest Certificate Time line Loan Account Statement Time line Title Documents Photocopy Time line Return of Original Documents Time line on closure / transfer of the loan TAT starts after completion of all the documents and submission of fee (if any); TAT does not include Sunday and Holiday's

4 Grievance Redressal Procedure & Time line Level 1 Write in to customercare@tatacapital.com or call us on our tollfree no You will receive an acknowledgement/response within 10 business days. Level 2 If you are not satisfied with the resolution provided to you, we request you to contact the Compliance Officer, Mr. G. Srinivasan. You can mail him at Srinivasan.govindan@tatacapital.com or download the complaint form and post it to the address mentioned below: Mr. G. Srinivasan Tata Capital Housing Finance Limited 4th Floor, ithink Techno Campus Off Pokhran Road 2, Thane(West) You will receive an acknowledgement / response within 10 business days of the Compliance Officer receiving your communication. Level 3 If you are not satisfied with the resolution provided to you, we request you to contact the Managing Director. Kindly download the complaint form and post it to the address mentioned below: Mr. R. Vaithianathan Tata Capital Housing Finance Limited 4th Floor, ithink Techno Campus Off Pokhran Road 2, Thane(West) You will receive an acknowledgement/response within 10 business days of the Managing Director receiving your communication.

5 Level 4 In case your complaint has not been addressed to your satisfaction after following all the above steps, you can approach the regulatory authority of Housing Finance companies the National Housing Bank at the address given below. National Housing Bank, Department of Regulation and Supervision (Complaint Redressal Cell) 4th Floor, Core-5A, India Habitat Centre, Lodhi Road, NEW DELHI crcell@nhb.org.in