ANNEXURE IV: MOST IMPORTANT TERMS & CONDITIONS (MITC)
The Most Important Terms and Conditions (MITC) of loan between the borrower/s and Easy Home Finance Limited having its registered office at 302, 3rd Floor, Savoy Chambers, Dattatray Road & VP Road extension, Santacruz West, Mumbai - 400054 (hereinafter referred as “EHFL”) are agreed upon and mentioned below.
*The Interest rate mentioned above is subject to change as per Pricing Policy of the Company from time to time.
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* The methodology adopted by the Easy Home Finance Ltd to decide Rate of Interest is primarily based on Cost of Funds, Cost of Capital, Operating Cost and internal & external credit score. Easy Home Finance Ltd , while deciding a rate on a borrower level, further factors in specific variables like tenor of the proposed loan, profile of prospective Borrower, type of loan, quality & value of security offered, loan amount, commercial feasibility etc.
* In the foregoing tables, a range of standard rate of Interest have been given. For a borrower, actual rate of interest will be based on the factors mentioned in the preceding paragraph. Thus, the applicable Rate of Interest may be different for different borrowers. Easy Home Finance Ltd periodically reviews matrix of applicable rate of interest based on its cost of funds, operation cost, market conditions and competition.
- Fee and Other Charges*
S No |
Description |
Charges |
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1 |
Application Fees |
Up to Rs. 5,000/- |
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2 |
Admin Fees |
Up to 2.5 % of loan amount sanctioned |
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3 |
CERSAI Fees |
Rs. 300 |
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4 |
Collateral Evaluation Charges |
Up to Rs 10,000/- (for loans >Rs 300 lacs) |
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5 |
Multiple Collateral Evaluation Charges |
Rs. 3,000/- per additional collateral |
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6 |
Legal & Technical Charges |
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7 |
Subsequent Technical Charges |
Rs. 500/- per visit |
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8 |
Stamp Duty Charges |
On actuals |
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9 |
PDC/ ECS/ ACH Dishonor Charges |
Rs. 500/- per instance |
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10 |
Penal Charges |
36% p.a. of outstanding EMI |
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11 |
Retrieval charges for Copies of loan/ property document in EHFL custody |
Rs. 750/- per instance |
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12 |
Charges if RM goes to applicant’s place for Doc collection. |
Rs. 500/- per instance |
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13 |
Account Statement Charges |
Rs. 500/- per month |
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14 |
Conversion of ROI from Floating to Fixed at the end of Fixed tenor in Semi Fixed Loans |
0.50% of loan amount or Rs. 10,000/- whichever is higher |
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15 |
SOA Charges |
Rs. 500 per instance |
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16 |
Repayment Swapping Charges |
Rs. 500 per instance |
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18 |
Duplicate NOC |
Rs. 500 per instance |
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19 |
List of Documents |
Rs. 500/- per instance |
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20 |
Documentation Handling & Storage Charges |
Rs. 2000/- per docket / per disbursement |
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All applicable fees & charges are subject to levy of applicable GST + Surcharge is payable in addition to the fees/ charges. |
* The above-mentioned charges/ fees are as on date of the loan agreement and are subject to change from time to time. For latest updated details of applicable fee and other charges, please refer to the EHFL’s official Website (www.easyhomefinance.in) All applicable fees & charges are subject to levy of GST and Surcharge, and is payable in addition to the fees/ charges.
EHFL shall not disburse any loan to the borrower/s unless the condition mentioned in the sanction letter and loan agreements are complied with to the satisfaction and sole discretion of EHFL, few of which are given below:
Repayment of Loan to be by way, of pre-EMI/ EMI during the entire tenor of the Loan as per terms outlined in the loan agreement. Borrower/s are advised to refer to the loan agreement for details of repayment, in Equated Monthly Installments (EMI/ Pre-EMl) or other payments, EMI cycle, due dates etc. Any change in the EHFL-Reference Rate would be communicated in advance as per clause 2(v) mentioned above. 12. Brief procedure to be followed for Recovery of Overdue: On the occurrence of Event of Default as mentioned in the loan agreement, the Borrower/s to be sent reminder from time to time for payment of the outstanding amount on his loan account by Telephone, E-mail, Courier, SMS and/ or to the third parties appointed for collection purposes to remind, follow-up and collect dues. The Collection methodology broadly includes the following:
13. Annual Outstanding Balance Statement: The Lender will issue the Annual Outstanding Balance Statement along with Annual Income Tax Certificate for the preceding Financial Year to all Home Loan Borrower/s in the first quarter of every financial year. 14. CLSS Scheme: Kindly note that Credit Linked Subsidy Scheme with respect to eligible beneficiaries belonging to Economically Weaker Sections/Lower Income Group (EWS/LIG) is valid up till 31st March, 2021; subject to extensions, if any. As per notification dated 31st December, 2018 vide No. 1-11016/15/2016-HFA-4(Pt.)/E.9029212 Credit Linked Subsidy Scheme with respect to eligible beneficiaries belonging to Middle Income Groups (MIG) is further extended till March 31, 2021. 15. Customer Services:
b) Borrower/s can contact our Call Centre at 1800-22-3279 (toll free) between 10:00 am – 5:00 pm from Monday to Friday (Except Public Holidays).
Return of original documents on closure/ transfer of loan – 14 working days from date of request. 16. Grievance Redressal: For any service-related issue including obtaining documents or in case of any complaint & grievance, the Borrower/s may communicate in writing, orally, electronically through e-mail, website, telephone and modes given below. The Borrower/s may contact our Office through any of the following channels:
These MITC shall be governed by the Laws of India. It is hereby agreed that for detail terms and conditions of the Loan, the parties hereto shall refer to and rely upon the loan and other security documents executed / to be executed by them. The above terms and conditions have been read by the Borrower/s /read over to the borrower, understood and agreed upon Borrower/s. |