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|Fees and Charges|
|Processing Fee (Non-refundable)||Maximum 3% of the loan / facility amount (plus GST and other statutory levies).|
|Documentation Charges||Loan amount upto Rs. 2 Crores - Rs. 5000/- (Plus GST and other statutory levies) per instance|
|Loan Amount Above Rs. 2 Crores – Rs 10,000/- (Plus GST and other statutory levies) per instance|
|Commitment Fee||2% of the undisbursed amount of the loan plus GST and any other applicable statutory levies.|
|Cheque dishonor Charges||Rs. 750/- (inclusive of GST and other statutory levies) per instance.|
|Charges for Copy of any Document||Rs. 500/- (plus GST and other applicable statutory levies) per instance.|
|Repayment Mode I Account swap charges||Rs. 500/- (plus GST and any other applicable statutory levies) per instance.|
|Charges for Duplicate NOC I No Dues Certificate||Rs. 500/- (inclusive of GST and other statutory levies) per instance.|
|Charges for copy of CIBIL Report (to Customer who has availed Loan I Overdraft from us)||Rs. 50/- (inclusive of GST and other statutory levies) per instance.|
|Charges specific to Term Loans:|
|Prepayment Charges||· No prepayment / foreclosure is allowed till the lapse of Lock in Period of 6 months after EMI Commencement.|
|· After the lock – in period, part prepayment of minimum Rs.25,000/- and maximum upto 25% of outstanding Loan Amount can be made without any prepayment charges every 6 months. The minimum period between any two prepayment shall be atleast 6 (six) months.|
|· For any Part Prepayment in excess of 25%, 4% (plus GST and other applicable taxes) of the excess prepayment Amount shall be charged as Prepayment Charges.|
|· For Full Prepayment any time after the Lock-in-Period, Prepayment charges shall be 4% (plus GST and other applicable taxes) of the Foreclosure Loan Amount plus Amounts prepaid during the last 12 months.|
|· Nil Forclosure charges for term loan given to individual @floating rate of interest.|
|Substitute Interest (Penal Interest)||3% p.m. (plus other applicable statutory levies) compound monthly on the Amount Due but unpaid from the date of the Amount falling Due till the Date of actual Payment.|
|Collection Charges (in case of Default)||30% (plus other applicable statutory levies) of Cheque / instrument Dishonour Charges plus Substitute interest.|
|Charges specific to Overdraft Facility:|
|Top up OD||· Annual Review Charges - Renewal fees of 0.25% of the limit (dropped limit after reduction of annual drop) per instance.|
|· Non Utilisation charges 0.25% of difference between actual average utilisation and 25% of the average operating limit during the quarter, subject to minimum of Rs. 1250 + GST, chargeable on quarterly basis.|
|Annual Review Charges||0.25% plus GST and other applicable statutory levies on operating limit|
|Termination Charges||6% of operating limit if within lock-in-period of 6 months from the date of agreement and 5% of operating limit otherwise (plus GST and other applicable statutory levies).|
|Overline Rate / Penal interest in case of overline accounts||3% p.m. (plus GST and any other applicable statutory levies) over and above the normal OD Rate. This would be charged on the amount over and above the OD limit.|
|Non utilisation Charges||0.25% of difference between actual average utilisation and 25% of the average operating limit during the quarter, subject ti minimum of Rs. 1250 + GST, chargeable on quarterly basis.|
|Charges for Interest Certificate / Account Statement||Free once in a Financial Year. Thereafter, Rs. 250/- (plus GST and any other applicable statutory levies) per instance.|
|Stamp duty on Loan Agreement / Overdraft Agreement / Gurantor Agreement, Registration Charges etc. varies from State to State. Stamping / Notarisation of RBI and other Affidavits as applicable.|
|Charges for other Services would be specified as applicable when the Customer applies for those Services and the same shall be payable by the Borrower alone e.g. Revalidation of Sanction, Change in Property, Reschedulement of Loan, Change in EMI Date, Solvency Charges etc.|
|Taxes/ other statutory levies may be charged to the Borrower if applicable as per Government/ RBI directives.|
|Nil prepayment charges for MSE (Micro and small enterprises) cases.|
|Bank reserves the rights to modify any charges from time to time or to introduce any new charges, as it may deem appropriate and will publish them on the bank's website.|
Essential Documents to Submit
We, at Kotak, believe in fast loan disbursals with minimum troubles of lengthy paperwork.
Check out the complete list of loan against property documents.
Calculate Your EMI
Our Loan against property EMI calculator will help you estimate the monthly installments for repayment of your loan amount. The factors that are taken into consideration when calculating EMIs are your desired loan amount, loan tenure, and the applicable interest rates.
Calculate your monthly installments with Mortgage loan calculator.
Know Your Eligibility
Here’s how you can check whether you are eligible to take a loan against property–
Get the complete list of loan against property eligibility criteria.
Why avail Loan against property with us?
Some of the prominent features of Loan against property from Kotak Bank are:
You will have our guidance and support throughout the loan application process. Apply for loan against property with Kotak Mahindra Bank, today!
Loan Against Property is primarily taken for the purpose of Business Expansion,
We generally offer a loan up to 10 years, however the maximum permissible tenure is 15 Years
You can apply for Loan Against Property in following ways:
The property which we as a bank accepts are Residential, Commercial (Shops and Offices), Industrial and specialized property.
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