AU Small Finance Bank Home Loan

Stamping Expenses

Rs.100 including GST (Goods and Services Tax)

Interest on overdue EMI

Rate of interest as per the contract

Penal Charges on EMI default

Rs.0.65 will be charged daily on overdue EMI per Rs.1000 (or every part thereof)

Legal and Courier Charges

Rs.1,100

Charges on return of cheque, SI, ACH, or ECS

Rs.500

Charge on foreclosure statement

Rs.500

Statement of account

Rs.500

Issue of duplicate No Dues Certificate

Rs.500

Property Swapping Charges

1. Delhi NCR and Mumbai: Rs.7,500 per property
2. Other states: Rs.5000 per property

Default Collection Charges

Rs.250

Cheque, disbursement, or Loan cancelation (per case)

1. Within seven days from the date of cheque issue: Rs.1000
2. Rs.1000 plus the interest calculate up to cancelation period.

Conversion from floating to fixed to floating, reduction of rate, or change in structure

1.00% of outstanding principal

Loan document or duplicate copy of property

Rs.1000

Change in Instalment date

Rs.500 plus interest for the difference in period (if any)

Property Legal Charges

1. Delhi and Mumbai: Rs.5,500 per legal report
2. Other states or location: Rs.3,500 per legal report

Prepayment charges in case of Partial Prepayments

1. Paid up to six months from last disbursement date: 5.00% of amount

1. Paid after 6 months and up to 12 months from last disbursement date:

o   5.00% of total amount partial prepaid in FY

o   If total amount deposited in FY is up to 25% of POS, then no prepayment charges will be taken.

1. After 12 months from last disbursement date:

o   3.00% of total amount partial prepaid in FY

If total amount deposited in FY is up to 25% of POS, then no prepayment charges will be taken.

Foreclosure or Prepayment Charges in case of full closure

1. Paid up to 12 months from last disbursement date: 4.00% of balance amount
2. Paid after 12 months from last disbursement date: 5.00% of balance amount

Resident

Indian

Age

Minimum: 18 yearsMaximum: 70 years at maturity

Loan Tenure

1. Home purchase loan:1 to 20 years for cash salaried, SENP (Self-employed non-professional), or SEP (Self-employed professional) and 30 years for bank salaried
2. Home construction loan:1 to 20 years
3. Home top up loan:1 to 15 years
4. Home improvement loan:1 to 20 years
5. Land purchase and construction loan: 1 to 20 years
6. Commercial Property Purchase loan: 1 to 15 years
7. Home loan balance transfer:1 to 20 years for cash salaried, SENP (Self-employed non-professional), or SEP (Self-employed professional) and 30 years for bank salaried

Loan Amount

Rs.2 lakhRs.50,000 for home top up loan

Proof of identity, age, and address

1. Aadhaar Card
2. PAN card
3. Voter ID card
4. Valid Driving License
5. Passport

Proof of income

1. Salaried:

o  Salary certificate in case of cash salary

o  Form 16, bank statements, or salary slips

1. Self-employed:

o   Last three years’ financial statements or Income Tax returns, and/or,

o   Document for informal income

For Commercial Property Purchase Loan (salaried and self-employed):

o  Last three years’ financial statements or Income Tax returns, and/or,

o  Document for informal income

Others

1. Duly signed application form with photograph
2. Bank statements of previous six months
3. Proof of business existence
4. Processing fee cheque

Home Purchase Loan

1. Agreement of the seller or copy of allotment letter
2. Receipt of payment made to the developer or builder

Home Construction Loan

1. Proof of no encumbrances on the property
2. Estimate of construction provided by the civil engineer or architect

Home Improvement Loan

1. Proof of no encumbrances on the property
2. Estimate of construction provided by the civil engineer or architect

Commercial Property Purchase Loan

1. Property title deed
2. Proof of no encumbrances on the property

Home Loan Balance Transfer

1. Photocopy of property documents
2. A recent letter stating the outstanding balance issued by the current financial institution on their official letterhead.
3. A letter from the current lender on their official letterhead detailing the list of property documents in their possession.

Land Purchase and Construction Loan

1. A copy of the plans approved by the local authorities.
2. Plot title deeds
3. Proof of no encumbrances on the property
4. Estimate of construction provided by the civil engineer or architect.