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Affordable Housing Finance
Affordable Housing Finance
Affordable Housing Finance
Affordable Housing Finance

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Fee & Charges

Fee and Other Charges
1. Processing Fee Processing fee, as per the sanction/approval letter, is applicable basis policy of the Company and is subject to changes from time to time. (The Processing Fee is non- refundable until the loan is sanctioned by the Company. However, if the loan is not sanctioned, partial fee may be refunded at the applicant’s request after deducting all expenses incurred by the Company towards various verification (s), due diligence activities and applicable taxes. In the event of loan application being cancelled by the Borrower, for any reason, whatsoever prior to it being sanctioned then no processing fees shall be refunded)
2. Legal Charges (i) Legal search charges of Rs. 3500 + Applicable Taxes are payable before disbursement. Not applicable on Approved Projects and Top-Up cases
(ii) Charges for Notice of Intimation of Mortgage, for Maharashtra, of Rs. 2500 + Applicable taxes to be collected before disbursement and Notice of Intimation of Mortgage to be registered, within 30 days from the date of mortgage creation, with concerned Sub Registrar Office by the borrower / borrower(s). Not applicable on Top- Up Loans
3. Document Charges Rs.500/- + Applicable taxes
4. Property Valuation Charges (i) Property valuation charges of Rs. 1500 + Applicable Taxes are payable before disbursement.
(ii) Subsequent Property valuation, if required, charges of Rs. 1500 + Applicable Taxes are payable before disbursement in case of property being within geographical limits defined by lender.
(iii) Subsequent Property valuation, if required, charges of Rs. 2000 + Applicable Taxes are payable before disbursement in case of property being outside geographical limits as defined by the Lender
5. CERSAI Filing Charges (i) Rs.50/- + Applicable taxes for Loans up-to Rs. 5.00 lakhs (original filling and for modification).
(ii) Rs.100/- + Applicable taxes for Loans above Rs. 5.00 lakhs (original filling and for modification).
6. Other Verification Charges Any other verification charge as enumerated in the loan sanction / approval letter.
7. Prepayment charges As per prevailing guidelines of the Regulator i.e. National Housing Bank.
8. Late Payment Charges 2% per month on the defaulted amount
9. EMI/ Pre-EMI Bouncing charges Rs. 600/-
10. Cheque /Account Replacement Rs.500/- + Applicable taxes
11. Demand Draft/ Pay Order Rs.150 per lakh or actual bank charges, whichever is higher
12. Conversion charges As applicable, please contact local office
13. Recovery charges (Legal/ Repossession & Incidental) As per actual
14. Non-encumbrance certificate As per actual expense
15. Document Retrieval charges Rs.2500/- + Applicable taxes
16. Foreclosure statement charges Rs.500/- + Applicable taxes
17. Duplicate Statement/Certificate Rs.500/- + Applicable taxes
18. Duplicate No Dues certificate issuance charges Rs.500/- + Applicable taxes
19. Custodian Fee for keeping property documents in closed loans beyond 1 month of closure Rs.1000/- per month + Applicable taxes
20. Visit Charges for dues collection Rs.500/- + Applicable taxes
21. Loan Cancellation Charges Rs. 10,000/- or 2% of Sanction Amount whichever is higher + Applicable taxes
22. Statements of Accounts (SOA) Rs.500/- + Applicable taxes
23. Repayment Schedule Rs.500/- + Applicable taxes
24. Property Swapping charges (Restriction of swapping up to 2 times only) 1% of Current POS Value
25. Non-Submission of PDC/NACH Form after PDC exhaust Rs.1000/- + Applicable taxes
26. Penal Charges

Penal Charges Mean any charges which will be levied on breach of terms or conditions of loan agreement.
Instance Rate of Penal Charge
On account of not completing the construction within 24 months of first disbursement <=2% of principal outstanding + applicable taxes
On account of non-submission of post disbursal document <=2% of principal outstanding + applicable taxes
On account of non-adherence of any of the condition as mentioned in the sanction letter <=2% of principal outstanding + applicable taxes
Any breach of terms or conditions of loan agreement, sanction letter and any other documents. <=2% of principal outstanding + applicable taxes

Prepayment Charges

  • For all Variable Rate Home Loan

    No prepayment charges shall be payable on home loan with variable rate of interest on account of part or full prepayments made through any source.

  • For all Variable Rate Non-Home Loan
    • No prepayment charges shall be payable on term loans with variable rate of interest sanctioned for purposes other than business to individual borrower with or without co-borrower(s) on account of part or full prepayments.
    • Prepayment charges shall be payable at the following rates on term loans with variable rate of interest sanctioned for business purposes (business loans) on account of part or full prepayments:-
      • If paid within 12 months - 3%
      • If paid after 12 months - 2%
  • For all Fixed Rate Home Loan
    • No prepayment charges shall be payable on home loan with fixed rate of interest on account of part or full prepayments made through own sources.
      The expression own sources for this purpose means any source other than borrowing from a Bank/HFC/NBFC or Financial Institution.
    • Prepayment charges shall be payable on home loan with fixed rate of interest at the following rates on account of part or full prepayments by borrowing from or transfer of balance to a bank/HFC/NBFC and /or a financial institution :-
      • If paid within 12 months - 3%
      • If paid after 12 months - 2%
  • For all Fixed Rate Non-Home Loan
    • Prepayment charges shall be payable on business loans with fixed rate of interest at the following rates on account of part or full prepayments :-
      • If paid within 12 months - 5%
      • If paid after 12 months - 4%

BUSINESS LOANS: The following loans shall be classified as business loans.

  • LRD loans
  • Loans against property / Home Equity Loan / Top up loans for Business Purpose i.e. Working Capital, Debt Consolidation, Repayment of Business Loan, Expansion of business, Acquisition of Business asset or any similar end usage of funds.
  • Non-Residential Properties.

    The Borrower will be required to submit such documents that ART Housing Finance (India) Ltd may deem fit & proper to ascertain the source of funds at the time of prepayment of the loan.

    The above prepayment charges are subject to regulatory directions and in the event of any inconsistency between the two, the directions issued by the regulator will be followed.

    The prepayment charges are also subject to change as per prevailing policies of ART Housing Finance (India) Ltd and accordingly may vary from time to time. Borrowers are requested to refer to www.arthfc.com for the latest charges applicable on prepayments.