Most important Terms and Condition

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 :


a) Loan amount:
b) Purpose of Loan:
c) Loan component for Insurance premium.
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 .


a) Address of the Prime Security
Bounded on the
North by
South by
East by
West by
House Tax Assessment No.
TNEB Service Connection No.
b) Address of the Collateral Security(ies) (If any)


Type of Charges Applicable fees/rates
1  Login and Proceessing fee:
Home Loans 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.
2  Administration Fee 0.5% + Applicable GST to be paid before disbursement.
3  CIBIL fee Rs.100/- per applicant/coapplicant/guarantor - payable at the time of submitting application.
4  Pre Payment & Pre Closure Charges Floating Rate (Individuals - Housing and Non Housing) :
No preclosure or prepayment penalty applicable.
Fixed Rate :
Individual Housing Loans preclosed by own source of funds - No preclosure or prepayment penalty applicable.
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 LAP advances.)
5  Penalty for late payment of EMI/other dues 2.00 % p.m on the amount delayed / default.
6  CERSAI Charges Rs 200 /- + GST per property will be collected before release/disbursement of loan amount.
7  Cheque/ECS/NACH bouncing charges Rs 500 /- + GST or charges debited by the bank whichever is higher
8  Issuance of IT certificate Free of cost once in a financial year and Rs.100/- + GST per copy for subsequent requests.
9  Issuance of Statement of Accounts Free of cost once in a financial year and Rs.500/- + GST per copy for subsequent requests
10  Legal Fees payable to Advocate Will be borne by the company
11  Valuation Fees Rs.1500/- upto Rs.15.00 Lacs and Rs. 2000/- for loans above Rs.15.00 Lacs .
12  MOD Cancellation , Documents Retrieval Charges and other Misc Charges . Rs.5000/- +GSTat the time of closure of loan account.
13  Recovery Visit Rs.250/- +GSTper visit subject to a maximum of Rs.1000/- per year
14  Documentation & Stamp duty charges All actual out of pocket expenses including stamp duty if not paid by the borrower.
15  Loan amount disbursement DD/Payorder. /cheque/NEFT charges 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
16  ECS/ NACH Charges ECS / NACH Cancellation Charges Rs.200 /- +GST per occasion
Rs 100 /- +GST
17  Document Custodian Fees Payable @ a fixed fee of Rs.1000/- +GST If documents are not taken back within 30 days of closure of loan account.
18  Pre closure statement Charges Rs.1000/- +GST
19  Duplicate NOC/No due certificate Rs.500/-+GST
20  Reissuance of amortization schedule Rs.1000/-+GST per occasion
21  Request for Change in sanctioned terms and conditions after acceptance. 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.
22  Stage wise Valuation charges in construction cases Rs.500/-+GST per each stage of disbursement.
23  Final stage valuation RS 750 + GST
24  Request for revalidation of sanction after 60 days Chargeable - Rs 1000/-+GST
25  Copy of property papers Rs.1000/-+GST
26  Copy of property papers Rs.1000/-+GST
27  Repossession Charges Actual charges plus Rs.500/-+GST


  • 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 MITC 4
    • 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 disbursed (PEMI)
    • 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 ......................
Premium Amount...............
a) Property Cover
Sum Assured ......................
Premium Amount...............


  • Telephone/Personal Contacts, Persuasion and follow up for recovery of installments and interest due notice.
  • Enforcement of securities as per the provisions of SARFAESI Act
  • Recovery through other legal methods.


Working Hours:
• 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.


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 -
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- 24344548,
• 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

(Authorised Signatory)

(Note: One copy to be handed over to the applicants and another to be kept in file for records)