Most important Terms and Condition
Branch Name and Address :
Name of the Applicant and Address :
Name of the Co-applicants and Address :
Name of the Guarantor and Address :
Loan Account Number :
1. DETAILS OF LOAN
a) Loan amount:
b) Purpose of Loan:
c) Loan component for Insurance
d) Rate of Interest (% p.a) :
e) Tenure of the Loan (In months):
f) EMI (Installment Amount):
g) Floating / Fixed :
* Floating - Above rate is linked to the minimum lending rate (MLR) of the company .
2. DETAILS OF SECURITY
a) Address of the Prime Security
Bounded on the
House Tax Assessment No.
TNEB Service Connection No.
b) Address of the Collateral Security(ies) (If any)
3. FEE & OTHER CHARGES
|Type of Charges
|| Login and Proceessing fee:
||Login fee : Rs 5000 + Applicable GST (Non refundable-Upfront)
Processing Fee: 1.5% + GST after sanction on the balance amount after
deducting non refundable portion
||Other Than Home Loans
||Login Fee: Rs.5000/- + Applicable GST ( Non refundable-upfront)
Processing Fee: 2% + GST after sanction on the balance amount after
deducting non refundable portion.
|| Administration Fee
||0.5% + Applicable GST to be paid before disbursement.
|| CIBIL fee
||Rs.100/- per applicant/coapplicant/guarantor - payable at the time of
|| Pre Payment & Pre
||Floating Rate (Individuals - Housing and Non
Housing) : No preclosure or prepayment penalty
Fixed Rate : Individual Housing Loans preclosed by own source
of funds - No preclosure or prepayment penalty
Fixed Rate (Non- Housing Loan): Pre payment/ Pre closure charges applicable @
2%+GST on the prepaid amount either in full or part
applicable in all other cases.( Part payment of Fixed
rate individual Housing Loans,Fixed rate individual HL
taken over by other Institutions,Commercial HL and
|| Penalty for late
payment of EMI/other
||2.00 % p.m on the amount delayed / default.
|| CERSAI Charges
||Rs 200 /- + GST per property will be collected before release/disbursement of loan
||Rs 500 /- + GST or charges debited by the bank whichever is higher
|| Issuance of IT certificate
||Free of cost once in a financial year and Rs.100/- + GST per copy for subsequent
|| Issuance of Statement
||Free of cost once in a financial year and Rs.500/- + GST per copy for subsequent
|| Legal Fees payable to
||Will be borne by the company
|| Valuation Fees
||Rs.1500/- upto Rs.15.00 Lacs and Rs. 2000/- for loans above Rs.15.00 Lacs .
|| MOD Cancellation ,
Charges and other Misc
||Rs.5000/- +GSTat the time of closure of loan account.
|| Recovery Visit
||Rs.250/- +GSTper visit subject to a maximum of Rs.1000/- per year
|| Documentation &
Stamp duty charges
||All actual out of pocket expenses including stamp duty if not paid by the borrower.
|| Loan amount
||Actual charged by the Bank PLUS Rs.1000 GST if taken over FROM another HFC/Bk
or Rs. 100 +GST if for disbursement of loan
|| ECS/ NACH Charges
ECS / NACH
||Rs.200 /- +GST per occasion
Rs 100 /- +GST
|| Document Custodian
||Payable @ a fixed fee of Rs.1000/- +GST If documents are not taken back within 30 days of
closure of loan account.
|| Pre closure statement
|| Duplicate NOC/No due
|| Reissuance of
||Rs.1000/-+GST per occasion
|| Request for Change in
sanctioned terms and
||Payable per instance @0.5% of principal o/s at the descretion of the company if requested after
loan account creation OR Rs.5000/-+GST if requested prior to loan account creation.
|| Stage wise Valuation
charges in construction
||Rs.500/-+GST per each stage of disbursement.
|| Final stage valuation
||RS 750 + GST
|| Request for revalidation
of sanction after 60
||Chargeable - Rs 1000/-+GST
|| Copy of property papers
|| Copy of property papers
|| Repossession Charges
||Actual charges plus Rs.500/-+GST
4.CONDITIONS FOR DISBURSEMENT OF LOAN AMOUNT
- • Construction/Alteration/Modification/Repairs & Renovation:
The loan amount will be disbursed in stages depending on the progress of construction and after
ensuring that the margin money is proportionately utilised.
- Purchase of House/Flat/Plot
- Loan amount will be released directly to the Vendor Mr/Mrs/Ms/M/S________________________ .
• In case of Plot loans the Borrower shall construct the building with in a period of 24 months failing which
the loan will be charged at the Commercial Rate Of Interest as per company’s policy
• The borrower shall maintain mortgaged property in good condition and the borrower should undertake
periodical Repairs to the premises mortgaged
• The borrower should pay all taxes, fees charges etc.,to the Statutory Agencies regularly and shall produce
latest copy of the property tax paid receipt and EB receipt.
• The borrower should produce NIL Encumbrance certificate till date of disbursement. Encumbrance
Certificate to be produced every year. In case of failure by the borrower the Sasvitha Home Finance Pvt
Ltd will at its discretion obtain the EC and Debit the charges to the loan account.
• The borrower should not borrow from any other source / Bank / Financial Institution without prior
written consent from the Sasvitha Home Finance Pvt Ltd.
• Sasvitha Home Finance Pvt Ltd has every right to inspect the property mortgaged at any time during the
pendency of the loan.
• The interest rate for Home loans ranges from 13 % onwards.
• Floating Rate - The Loans will be charged with certain percentage Interest depending upon the products
risk profile to the customer over and above a minimum lending rate, which shall not be lower than the
average cost of funds. The Company shall also have differential Interest Rates for different products /
schemes. Such rates are subject to review / change by the Competent Authority from time to time. For
the loans offered at the Floating Rate of interest, the change in the interest rate would take effect from
the prescribed date by the Competent Authority.
• Fixed Rate - For the loans granted under Fixed Rate, the rate of interest would remain constant for a period
of three years. It will be re-fixed at the end of every third year of the loan tenure specified in terms of
sanction of the loan.
• For Loan against property the interest rate ranges from 16.5 % onwards
• The Loan sanction order is valid for 60 days from the date of sanction.
• Repayment of EMI commences from succeeding month in which the final disbursement is made. Till the
loan is fully disbursed only interest is payable every month by the borrower on the outstanding amount
• In case of construction, the EMI will commence succeeding the month of completion of construction or 24
months from the date of first disbursement whichever is earlier.
• All the Legal and Sanction order conditions to be complied with by the borrowers
Installments should be paid on or before the last working day of each calendar month failing which the
company will initiate recovery steps at borrowers cost.
The Customers are encouraged to take Life Insurance and property insurance for the Loan term and
loan amount covering the life of the Borrower and building from natural calamities and fire
respectively . Sasvitha Home Finance has group policies with Life Insurance and General Insurance
companies which offers cover with premium calculated on the Sum Assured and Loan Term.
a) Life Cover
Sum Assured ......................
a) Property Cover
Sum Assured ......................
PROCEDURES FOLLOWED FOR RECOVERY OF DUES WILL INCLUDE BUT NOT RESTRICTED TO:
- Telephone/Personal Contacts, Persuasion and follow up for recovery of installments and interest due
- Enforcement of securities as per the provisions of SARFAESI Act
- Recovery through other legal methods.
OTHER GENERAL INFORMATION
• Monday to Saturday: 10 AM to 5 PM ( subject to change with due notice )
• 2nd & 4th Saturday in every Month and All Sundays are Holidays
Customers are requested to contact the Branch head/Person in-charge of credit during working hours
for any clarifications/guidance.
GRIEVANCE REDRESSAL MECHANISM
Every branch has been provided with a complaints register, The customers can lodge their complaints
in the register; the Branch Manager would be the person responsible to resolve / reply to the the
customer grievances within 7 working days from the date of receipt of the complaint. If the query
remains unsolved/ utattended or if the reply received is not satisfactory the customers can escalate it
to the Head Office.
1. By e-MAIL - firstname.lastname@example.org.
2. By Call to the Customer Care - 9150001365 / 044-24344548
3. By Post :
Grievance Redressal Officer
Sasvitha Home Finance Private Limited
Head Office Sathguru Complex,
1st floor,No 640, Anna Salai,
Nandanam, Chennai – 600035. Ph: 044-
• The Corporate Office will endeavor to resolve the complaint within 30 working days from the date
of receipt of the complaint and send a suitable reply to the complainant.
• If the customer is not satisfied with the reply given by the Company , the complainant may escalate
the complaint to
The General Manager
National Housing Bank
Department of Regulation & Supervision
CR Cell, 4th floor, Core 5A, India habitat centre
Lodhi Road, New Delhi – 110 003
Accepted the terms and conditions as above
Signature of the Applicant
Signature of the Co-applicant(s)
For and on behalf of Sasvitha Home Finance Private Limited
(Note: One copy to be handed over to the applicants and another to be kept in file for records)