The Most Important Terms and Conditions (MITC)* of loan between the borrower/s and Capri Global Housing Finance Limited having its registered office at 1-B, Court Chambers, 35, Sir Vithaldas Thackersey Marg, New Marine Lines, Mumbai – 400020 (hereinafter referred as “CGHFL”) are agreed upon and mentioned below.


1. Loan

Loan is sanctioned basis a combination of several factors like repayment capacity, collateral security, past and present credit history and other risk parameters. Borrower/s is/are advised to refer to the Loan Agreement to know the loan amount sanctioned.

2. Interest
  1. Type (Fixed or Floating or Semi-Fixed): The CGHFL offers either Floating/ Semi-Fixed rate loans to all its Borrower/s.The Semi-Fixed rate loan is fixed for three years and
  2. Interest Chargeable: Floating Rate of Interest is computed with reference to the CGHFL-RR of CGHFL together with the margin, if any, as specified in detail in the loan agreement.
  3. Indicative ROI under CGHFL- RR is presented below:

    Loan type Built Up/ Under-construction Plots
    Home Loans 11-14% 12 -15%
    Non-Home Loans 13-16% 14- 17%
  4. Moratorium or Subsidy: Not applicable
  5. Date of reset of interest: Interest Rate Reset Revision Cycle is quarter of English Calendar year beginning from first day of January, April, July, and October of each year. CGHFL- RR will be reset on the first day of the quarter following the month in which the CGHFL-RR is changed.
  6. Modes of Communication of changes in interest rate: Any change in CGHFL- RR would be duly communicated to the borrower/s at the contact details available with the Lender through SMS/ E-mail/ Courier or any other electronic mode prevalent for the time being.
3. Instalment Types

Monthly/ Quarterly/ as agreed between the parties.

4. Loan Tenor

The Lender offers a wide range of loan tenors starting from 1 year up to 20 years depending on a combination of various parameters like age of borrower/s, loan product, collateral security etc. Borrower/s is/ are advised to refer the Loan Agreement to know the loan tenor sanctioned.

5. Purpose Of The Loan

The CGHFL offers a variety of loan options depending on the requirement of the Borrower/s like Home Loan for Purchase or Construction or Renovation or Purchase of Land or Loan Against Property or Loan for Purchase of Commercial Property etc. Borrower/s is/ are advised to refer the Loan Agreement to know the Purpose of Loan sanctioned.

6. Fee And Other Charges
Sr. No. Details of the Fees charged Charges Applicable
i. ON APPLICATION
Application Fees Upto Rs. 10,000/-
Processing Fees Upto 2% of the loan amount
CERSAI Fees Rs. 50/- (for loans<= Rs 5 lacs)
Rs. 100/- + ST (for loans > Rs 5 lacs)
Collateral Evaluation Charges Upto Rs 10,000/- (for loans > Rs 300 lacs)
Multiple Collateral Evaluation Charges Rs. 4,000/- per additional collateral
Legal Handling charges Rs. 2,500/- (in Balance Transfer/ Resale transactions)
Stamp Duty Charges On actuals
ii. DURING TERM OF LOAN
PDC/ ECS/ ACH Dishonor Charges Rs. 500/- per instance (Home Loans)
Rs. 2,000/- Per instance (Non-Home Loans)
Late Payment Charges 36% per Annum of Outstanding EMI
Retrieval charges for Copies of loan/
property document in CGHFL custody
Rs. 500/- per instance
Foreclosure Statement Charges Rs. 500/- per instance
Conversion of ROI from Floating to
Fixed at the end of Fixed tenor in Semi Fixed Loans
0.50% of loan amount or Rs. 10,000/- whichever is higher
iii. ON FORECLOSURE
Individual Non-Individual
Pre-payment charges to be Nil in Floating Rate Loans Pre-payment charges for amount upto 25% of Principal Outstanding to be Nil
in any Financial Year. All pre-payments made within last 12 months to be
included to decide the total pre-payment amount and corresponding charges
applicable
Pre-payment charges to be Nil during the Floating ROI tenor of Semi- Fixed Loans Pre-payment charges (part/ full) to be 5% upto 24th month from the date of 1st disbursal
Prepayment charges to be Nil during the Fixed ROI tenor of Semi- Fixed Loans; provided same is prepaid from Own Funds Pre-payment charges (part/ full) to be 3% from 25th month onwards from the date of first disbursal
Prepayment charges norms for Non-Individual Loans to apply to Individual Loans if loan is prepaid during the Fixed ROI tenor of Semi- Fixed Loans and from other than “Own Funds” Part-prepayment amount to be minimum 3 EMI equivalent amount .
Part-prepayments allowed 4 times in any Financial Year, once every quarter

Application fee paid by customer for availing the loan is non refundable will go to Fees and other charges.

*The above mentioned charges/ fees are as on date of the loan Agreement and are subject to change from time to time. For latest updated details of applicable fee and other charges, please refer to the Lender’s official Website. All applicable fees & charges are subject to levy of Service Tax and Surcharge, and is payable in addition to the fees/ charges.

7. Security/ Collateral For The Loan

Security of the loan would generally be security interest on the property being financed and/ or any other additional security in the nature of additional property/ Guarantors as may be mandated by CGHFL. Borrower/s is/ are advised to refer the Loan Agreement and Sanction Letter to know the security details of the loan sanctioned.

8. Insurance Of The Property/ Borrower/ s
  1. The Borrower/s shall keep the property under security insured with comprehensive Insurance policy equivalent to the loan outstanding at any point of time during the pendency of the loan with the Lender as the sole beneficiary under said policy/ policies.
  2. The Borrower/s may keep his/ their life insured equivalent to loan outstanding at any point of time during the pendency of the loan with CGHFL the sole beneficiary under said policy/ policies
9. Conditions For Disbursement Of The Loan

CGHFL shall not disburse any loan to the Borrower unless the conditions mentioned in the Sanction Letter and Loan Agreements are compiled with to the satisfaction and sole discretion of CGHFL few of which are as given below:

  1. The Borrower must fulfil the CGHFL’s requirement of credit worthiness.
  2. Execution of loan agreement and such other ancillary documents.
  3. Submission of cheques/ ECS/ ACH/ etc. any other clearing system in force for the time being towards repayment of instalments Creation of security in favour of Lender.
  4. Utilisation of disbursement should be as per the end use specified
  5. The Borrower must disclose every material fact which may affect the borrower’s loan proposal.
10. Repayment Of Loan & Interest

Repayment of Loan to be by way of pre-EMI/ EMI during the entire tenor of the Loan as per terms outlined in the loan agreement. Borrower/s is advised to refer to the loan agreement for details of repayment, in Equated Monthly Instalments (EMI/Pre-EMl) or other payments, EMI cycle, due dates etc.Any change in the CGHFL- RR/EMI would be communicated in advance as per clause 2(v) above of MITC.

11. Brief Procedure To Be Followed For Recovery Of Overdue

On the occurrence of Event of Default as mentioned in the loan Agreement, the Borrower’ to be sent reminder from time to time for payment of the outstanding amount on his loan account by Telephone, E-mail, Courier, SMS and/or to the third parties appointed for collection purposes to remind, follow-up and collect dues.

The collection methodology broadly includes the following:

  1. Tele-Calling : It involves contacting the Borrower over the phone and making them aware about the missed due date and requesting to pay the arrears at the earliest.
  2. Field Collection : It involves meeting the Borrower and collecting the payment of the amount due. The activity shall be carried out through employees of CGHFL or authorized representatives. The payment would be collected either in cash or in the form of a cheque/DO against the valid receipt only which will be issued to Borrower.
  3. Legal action shall be taken based on circumstances of each delinquent account, as per the policy of the CGHFL and pursuant to the provision of applicable laws. Hence, the CGHFL shall use a judicious mix of field visit, written communication and legal action to ensure proper and effective coverage for the different category of delinquent account
12. Annual Outstanding Balance Statement

The Lender will issue the Annual Outstanding Balance Statement along with Annual Income Tax Certificate for the preceding Financial Year to all Home Loan Borrowers in the first quarter of every financial year.

13. Customer Services
  1. Borrower can visit the Service Branch during visiting hours of 10:00 am to 5:00 pm from Monday to Friday (Except on Public Holidays).
  2. Borrower can contact our call centre at 1800-3004-4300 (toll free) between 10:00 am – 5:00 pm from Monday to Friday (Except Public Holidays).
  3. Borrower can reach to Customer vide e-mail customercare@cgclhomeloans.com.
  4. Indicative Timelines of common request servicing:
    1. Loan account statement - 7 working days from date of request
    2. Photocopy of the title documents - 14 working days from date of request
    3. Return of original documents on closure/ transfer of loan – 14 working days from date of request
14. Grievance Redressal

For any service related issue including obtaining documents or in case of any complaint/grievance, the Borrower may communicate in writing, orally, electronically through e-mail, website, telephone and modes given below. The Borrower may contact our Office through any of the following channels:

By telephonic communication with our call centre at 1800-3004-4300 (toll free) between 10:00am - 5:00pm from Monday to Friday (Except Public Holidays).

  1. By way of e-mail.
  2. By way of written letter addressed to Customer Service - Home Loans, Capri Global Housing Finance Limited 4th Floor, Merchant Chambers, 41, Sir V.T. Marg, New Marine Lines, Mumbai - 400 020
  3. By way of physically visiting the Service Branch and lodge a complaint in the Complaint Register maintained at our branches.
  4. Borrower can further escalate the complaint to: Head of Compliance: Ms. Trusha Dand (email: compliance@cgclhomeloans.com)
  5. ln case the complainant is dissatisfied with the response received from CGHFL or where no response is received, the Complainant may approach Complaint Redressal Cell of National Housing Bank by lodging its complaint in online mode at the link https://nhb.org.in OR in offline mode by post, in prescribed format, available at link http://www.nhb.org.in Grievance-Redressal to Complain Redressal Cell, Department of Regulation & Supervision, National Housing Bank, 4th Floor, Core SA, India Habitat Centre, Lodhi Road, New Delhi-110003.

These MITC shall be governed by the Laws of India. It is hereby agreed that for detail terms and conditions of the Loan, the parties hereto shall refer to and rely upon the loan and other security documents executed I to be executed by them.

The above terms and conditions have been read by the borrower/s I read over to the borrower, understood and agreed upon borrower.

*As on 12th Oct 2016