
Godrej’s lasting legacy over the years with locks, soaps, and homes - to name a few, is second to none. And with this proud legacy of trust, we take another bold step to build something exciting once again. Introducing Godrej Housing Finance – a place where we aim to finance homes with home loans that listen, understand and know what’s important to you.
We understand that life can be hard at times. We can ease it financially by giving you an EMI break when you most need it:
Does the thought of arranging the down payment for buying a new property worry you? We understand the burden of arranging a lump sum of money and can help:
This will considerably ease your upfront burden and bring you much closer to owning your dream home.
All we need is an application form, KYC proof & income documents.
Our team gets to work to process your application and sanction the loan.
Post sanction, we undertake property valuation. This step gets much easier when you’re buying a home from Godrej Properties.
All that is left for you is to sign the finance documents & submit your property papers after which we disburse the loan.
Major terms and conditions of the loan agreed between _________ (hereinafter referred to as “the Borrower”) and Godrej Housing Finance Limited (“the Company”) having registered office at Godrej One, Pirojshanagar, Eastern Express Highway,Vikhroli (East), Mumbai, Maharashtra- 400079 are as under:
Loan Application No. | |
Sanctioned Loan Amount | |
Type of Loan |
Type of Rate of Interest (“RoI”) | |
Applicable Rate of Interest (as on date) | On Fixed Rate of Interest (“RoI”) In case of fixed RoI, interest shall be payable by the Borrower at Godrej Housing Prime Lending Rate (herein after referred to as GHPLR) per annum at the monthly rests or as per the terms & conditions mentioned in the Loan Agreement. On Floating / Adjustable Rate of Interest (“RoI”) ………….) (as on the date)= __________ % per annum. Applicable Rate of Interest (as on the date)= GHPLR % per annum (…… + GHPLR %). |
Type of Loan | |
Moratorium | |
Subsidy | Eligibility to any government sponsored subsidy scheme will be as per the eligibility criteria prescribed by the Government of India/ respective state government/ govt. department/ nodal agency from time to time |
Date of reset of Rate of Interest | The applicable rate of interest on the loan will be revised/ reset with the change in the GHPLR Any change in GHPLR will be notified to the Borrower as mentioned below under Section E. |
Loan Tenor | _____Months (subject to change in case of Floating/ Dual Rate of interest). |
Instalment Type | Monthly |
EMI (Rs.) | Rs. _____ (subject to change in case of Floating/ Dual Rate of interest). |
Date of Commencement of EMI | |
Due Date for payment of EMI | |
In Case of any change/revision in applicable Rate of Interest, the Company, at its sole discretion, may revise the EMIs or tenor of the loan or both and accordingly fresh ECS mandate, if required, will have to be provided by the Borrower for revised EMIs. In case of partially disbursed cases, Pre EMIs (PEMI) may be required to be paid on monthly basis on the due date. PEMI will be charged from the date of the first disbursements to the date of commencement of EMI. In case of delayed payment, overdue interest for the delayed period will be charged at rates mentioned by the Company from time to time. |
|
Annual Outstanding Balance Statement | To be issued within 30 Days of closure of financial year. |
Insurance of the Borrower | It is suggested that the Borrower should opt for a life insurance plan to cover, in case of any eventuality, his liabilities towards the loan availed. If such insurance cover is availed, the Company should be the sole beneficiary during currency of the Loan Facility. |
Insurance of the Property | It will be the Borrower’s responsibility to ensure that the property offered as security is duly and properly insured against fire and other hazards for an amount specified by the Company, during the currency of the Loan Facility, with the Company as sole beneficiary. |
CHARGE DESCRIPTION | CHARGE AMOUNT (IN RS.) EXCLUSIVE OF GST |
1st presentation EMI Bounce every month | 1000 |
2nd presentation EMI Bounce every month | 1000 |
Late Payment / Penal (Per month) | 2% on the total EMI outstanding (Principal and Interest) |
Repayment mode - Cheque/NACH Swap | 500 |
Foreclosure and Part prepayment | INDIVIDUAL BORROWER Floating Rate Loans 0%
NON-INDIVIDUAL BORROWER Fixed & Floating Rate Loans 4% of the Principal prepaid |
Loan cancellation charges | Nil up to 30 calendar days or 1st EMI due date whichever is earlier. Post that 1% of Principal outstanding |
Loan Reschedule charges | 500 |
Physical Statement of Account | 500 |
Physical Statement of Account | 500 |
Physical Repayment Schedule | 500 |
List of Documents | 1000 |
EMI Pick up | 500 |
Physical copy of Property documents | 2000 |
Loan Foreclosure letter Charges | 500 |
Conversion or Switch or Resubstituting (Changing Floating Rate to Fixed Rate or vice versa) |
0.5% to 1.5% of the Principal Outstanding |
Repricing or Restructure | 1% of the Principal Outstanding |
Document retrieval (per retrieval) | 500 |
Stamping or Franking | As per Actuals |
Legal or SARFESI | As per Actuals |
CERSAI Registry or Modification | As per Actuals |
Demand Draft or Pay Order Re-issuance or Cancellation | 750 |
Property documents holding Fee – (Charged per month post 60 days from the date of loan closure) | 750 |
Other Documents | 500 |
Miscellaneous Charges | On Actuals |
Technical Fees (For additional property) | On Actuals |
Valuation fee in Construction Linked Loan cases | On Actuals |
Bank Charges on Cheque/ECS Bounce | On Actuals as charged by the customer’s bank |
Recovery Charges | On Actuals |
Procedure for intimation of the changes in Rate of Interest/ EMI or applicable charges | Any revision in rate of interest or fee/ charges by the Company shall be notified
through any one or more of the following media: i) Letter on the last known address or E-mail on the registered E-mail ID; ii) SMS/ telephone on the registered mobile no.; iii) Notice at the Company’s branches; iv) Notice on the Company’s website. |
Mortgage of below mentioned property in favour of the Company |
Details of the Property Mortgaged: _____ |
Other Security: _____ |
Detail of Guarantor(s): _____ |
|
Any Special Condition: As per the Sanction Letter/ Loan Agreement, if any. |
The process of repayment of the loan is explained the Borrower. The Borrower is expected
to pay the EMI or PEMI regularly on due date without any notice, reminder or
intimation. If the amount due is not paid within the agreed timelines, the Company will follow-up with/ send reminders to the Borrower/ Guarantor for payment of dues by Post, Fax, Telephone, E-mail, SMS and/or through third parties appointed for collection purpose. Any third party so appointed by the Company will be required to adhere to the code of conduct of the Company for recovery of dues. Further, the Company is required to provide Credit information relating to its borrowers to Credit Information Companies (CICs) periodically. Hence, to avoid any adverse impact on the credit history with CICs like CIBIL, it is advised that the Borrower should ensure timely payment of the amount due on the loan amount. In the event of default, all outstanding amounts owned by the Borrower to the Company shall become due as per the terms of the Loan Documents and the Company may undertake such necessary processes/ measures to enforce rights available to it under the Loan Documents including but not limited to charging Overdue/ Legal Charges, recovery of dues by enforcing the Security in accordance with the remedy available under the Law. |
For any assistance and further information, you may connect the Customer Service team of the Company through below modes between 9 AM to 6 PM on working days: | |
1. Contact the branch manage / branch in charge of the branch nearby you. | |
2. Call our Customer care No.: 022-68815555 | |
You can also write an email to us at the E-Mail Id: customercare@godrejhf.com | |
For further details, you please visit the Company’s website: www.godrejhf.com | |
You can collect the following documents by visiting our branch as per the mentioned timelines: | |
Loan Account Statement | Within 1 working days |
Photocopy of the title documents | Photocopy of the title documents |
Return of Original document on closure of the loan | Within 45 working days |
1) The Borrower declares that he/she has not made any payments in cash, bearer cheque or
kind along with or in connection with this application to the executive collecting the
loan application form. 2) The terms and conditions governing the Loan Facility will be as per the Loan Documents including Sanction Letter, Loan Agreement, Security Creation Documents executed between the Borrower and the Company. |
Any customer with a grievance, complaint or feedback with respect to any of the the products and services offered by Godrej Housing Finance Limited may reach out to the company’s Customer Service Department.
HOW SHOULD A COMPLAINT BE MADE?
For accurate and timely
resolution, customers are requested to provide all the necessary details like the
Customer Relationship Number (CRN), Loan Account Number (LAN), details of the feedback,
suggestions, complaint and valid contact Information including phone number & e-mail ID
while first contacting with the Company.
HOW SOON SHOULD A CUSTOMER EXPECT A RESPONSE FROM THE COMPANY?
Godrej
Housing Finance endeavors to address and respond to all the
customers’ requests and complaints within a reasonable time and will keep the customer
informed on the status as necessary in the interest of the customer. Since every request
and complaint is unique in nature, it may take up to 4 weeks for a thorough resolution,
post investigations if any.
WHOM TO APPROACH FOR REDRESSAL?
Customers are requested
to first raise their concerns through any of channels mentioned above. In case of
delayed or no response from the respective channel within the specified timeline, such
complaint may be escalated to the Grievance Redressal Officer of the Company whose
details are as given below:
ESCALATION TO NATIONAL HOUSING BANK (“NHB”)
In case the
customer does not receive a response from the Company within 4 weeks or is dissatisfied
with the response received, the customer may approach the Complaint Redressal Cell of
NHB by lodging the complaint in the online mode at https://grids.nhbonline.org.in
OR in the offline
mode by post, in prescribed format available at http://www.nhb.org.in/%20Grievance-Redressal-System/Lodging-Complaint-Against-HFCs-NHB%E2%80%25%2093Physical-Mode.pdf
to NHB at the following address:
The Complaint Redressal Cell
Department of Regulation & Supervision
National
Housing Bank
4th Floor, Core 5A, India Habitat Centre
Lodhi Road, New Delhi–
110 003
The above mentioned Most Important Terms and Conditions (MITC) are not
exhaustive and are to be read in conjunction with the terms contained in Sanction letter
and the Loan Agreement and the other documents which the borrower has executed with
Godrej Housing Finance Limited. With Warm Regards
For Godrej Housing
Finance Limited
Authorised Signatory
I have received a copy of the document containing Most
Important Terms and Conditions pertaining to the loan availed by me. The above terms and
conditions have been read by the Borrower(s) / read over to the borrower by
Shri/Smt. _____of the Company. I confirm that I have understood the above Most Important Terms and Conditions and I accept them. |
|||
Applicant | ______ | 1st Co-Applicant | ______ |
Signature | ______ | Signature | ______ |
2nd Co-Applicant | ______ | 3rd Co-Applicant | ______ |
Signature | ______ | Signature | ______ |
Any customer with a grievance, complaint or feedback with respect to any of the the products and services offered by Godrej Housing Finance Limited may reach out to the company’s Customer Service Department.
HOW SHOULD A COMPLAINT BE MADE?
For accurate and timely
resolution, customers are requested to provide all the necessary details like the Customer
Relationship Number (CRN), Loan Account Number (LAN), details of the feedback, suggestions,
complaint and valid contact Information including phone number & e-mail ID while first
contacting with the Company.
HOW SOON SHOULD A CUSTOMER EXPECT A RESPONSE FROM THE COMPANY?
Godrej Housing
Finance endeavors to address and respond to all the customers’
requests and complaints within a reasonable time and will keep the customer informed on the
status as necessary in the interest of the customer. Since every request and complaint is
unique in nature, it may take up to 4 weeks for a thorough resolution, post investigations
if any.
WHOM TO APPROACH FOR REDRESSAL?
Customers are requested to
first raise their concerns through any of channels mentioned above. In case of delayed or no
response from the respective channel within the specified timeline, such complaint may be
escalated to the Grievance Redressal Officer of the Company whose details are as given
below:
ESCALATION TO NATIONAL HOUSING BANK (“NHB”)
In case the
customer does not receive a response from the Company within 4 weeks or is dissatisfied with
the response received, the customer may approach the Complaint Redressal Cell of NHB by
lodging the complaint in the online mode at https://grids.nhbonline.org.in OR
in the offline mode
by post, in prescribed format available at http://www.nhb.org.in/%20Grievance-Redressal-System/Lodging-Complaint-Against-HFCs-NHB%E2%80%25%2093Physical-Mode.pdf
to NHB at the following address:
The Complaint Redressal Cell
Department of Regulation & Supervision
National
Housing Bank
4th Floor, Core 5A, India Habitat Centre
Lodhi Road, New Delhi– 110
003
The objectives of the Fair Practice Code (“the Code”) are:
The Company will act fairly and reasonably in all dealings with customers, by ensuring that:
The Company will transparently disclose to the borrower:
NON-DISCRIMINATION POLICY
The Company shall
APPLICATIONS FOR LOANS AND THEIR PROCESSING
LOAN APPRAISAL AND TERMS &CONDITIONS
COMMUNICATION OF REJECTION OF LOAN APPLICATION
DISBURSEMENT OF LOANS INCLUDING CHANGES IN TERMS AND CONDITIONS
GUARANTORS
When a person intends to be a guarantor for a loan, he or she shall be informed about:
SHARING OF INFORMATION
CREDIT REFERENCE AGENCIES/ CREDIT INFORMATION COMPANIES
Any customer with a grievance, complaint or feedback with respect to any of the the products and services offered by Godrej Housing Finance Limited may reach out to the company’s Customer Service Department.
HOW SHOULD A COMPLAINT BE MADE?
For accurate and timely
resolution, customers are requested to provide all the necessary details like the
Customer Relationship Number (CRN), Loan Account Number (LAN), details of the feedback,
suggestions, complaint and valid contact Information including phone number & e-mail ID
while first contacting with the Company.
HOW SOON SHOULD A CUSTOMER EXPECT A RESPONSE FROM THE COMPANY?
Godrej Housing Finance endeavors to address and respond to all the
customers’ requests and complaints within a reasonable time and will keep the customer
informed on the status as necessary in the interest of the customer. Since every request
and complaint is unique in nature, it may take up to 4 weeks for a thorough resolution,
post investigations if any.
WHOM TO APPROACH FOR REDRESSAL?
Customers are requested
to first raise their concerns through any of channels mentioned above. In case of
delayed or no response from the respective channel within the specified timeline, such
complaint may be escalated to the Grievance Redressal Officer of the Company whose
details are as given below:
ESCALATION TO NATIONAL HOUSING BANK (“NHB”)
In case the
customer does not receive a response from the Company within 4 weeks or is dissatisfied
with the response received, the customer may approach the Complaint Redressal Cell of
NHB by lodging the complaint in the online mode at https://grids.nhbonline.org.in OR in the offline
mode by post, in prescribed format available at http://www.nhb.org.in/%20Grievance-Redressal-System/Lodging-Complaint-Against-HFCs-NHB%E2%80%25%2093Physical-Mode.pdf
to NHB at the following address:
The Complaint Redressal Cell
Department of Regulation & Supervision
National
Housing Bank
4th Floor, Core 5A, India Habitat Centre
Lodhi Road, New Delhi–
110 003
APPLICATIONS FOR LOANS AND THEIR PROCESSING
CHARGE DESCRIPTION | CHARGE AMOUNT (IN RS.) EXCLUSIVE OF GST |
Processing Fee | |
1st presentation EMI Bounce every month | 1000 |
2nd presentation EMI Bounce every month | 1000 |
Late Payment/ Penal charges (Per month) | 2% on the total dues outstanding (Principal and Interest) |
Repayment mode - Cheque/NACH Swap | 500 |
Foreclosure and Part prepayment |
INDIVIDUAL BORROWER Floating Rate Loans 0%
NON-INDIVIDUAL BORROWER Fixed & Floating Rate Loans
|
Loan cancellation charges | Nil up to 30 calendar days or 1st EMI due date whichever is earlier. Post that 1% of Principal outstanding. |
Physical Statement of Account | 500 |
Physical Duplicate NOC | 500 |
Physical Repayment Schedule | 500 |
List of Documents | 1000 |
EMI Pick up | 500 |
Physical copy of Property documents | 2000 |
Charges to issue Loan Foreclosure letter | 500 |
Conversion or Switch (Changing Floating Rate to Fixed Rate or vice versa) | 0.5% to 1.5% of the Principal Outstanding |
Repricing Fee | 1% of the Principal Outstanding |
Document retrieval (per retrieval) | 500 |
Stamping or Franking | As per Actuals |
Charges towards Stamp Duty/ Registration/ Intimation of mortgage/ Creation of Mortgage | As applicable and prescribed by the relevant Government Authority |
Charges to be paid to CERSAI/ CKYCR | As applicable and prescribed by CERSAI/ CKYCR |
Demand Draft or Pay Order Re-issuance or Cancellation | 750 |
Property documents holding Fee – (Charged per month post 60 days from the date of loan closure) | 750 |
Other Documents | 500 |
Miscellaneous Charges | On Actuals |
Technical Fees (For additional property) | On Actuals |
Valuation fee in Construction Linked Loan cases | On Actuals |
Bank Charges on Cheque/ECS / NACH Bounce | On Actuals as charged by the customer’s bank |
Charges towards Legal/ SARFAESI/ Recovery action | On Actuals |
Please note: In addition to the above fee and charges, GST, any cess & other taxes, levies etc. prescribed by the Government of India or the respective state will also be charged. Further, the above fee and charges are subject to change and will be at the sole discretion of Godrej Housing Finance Limited.
TRANSACTION TYPE | DETAILS | TAT IN WORKING DAYS |
Account Information | Loan details | 1 |
Account Information | Break up of Disbursed Amount | 1 |
Account Information | EMI Bounced Reason | 1 |
Account Modification | Address Change | 7 |
Account Information | Phone Number Change | 2 |
Account Information | Email ID Change | 2 |
Account Information | PAN Change | 2 |
Documents | Statement of Account | 1 |
Documents | Welcome Letter | 1 |
Documents | Provisional Interest Certificate | 1 |
Documents | Interest Certificate | 1 |
Documents | Repayment Schedule | 1 |
Documents | Duplicate No Due Certificate | 1 |
Documents | Foreclosure Letter | 7 |
Documents | Loan Agreement Copy | 1 |
Documents | TDS Certificate | 2 |
EMI Related | EMI holdback | 1 |
Repayment | Part Payment | 5 |
Collections | Payment Pick Up | 2 |
Charges | Charge Information | 1 |
Tranche Disbursements | Release Tranche | 3 |
Our Collections partner is Conneqt Business Solutions Ltd.
Background
Godrej Housing Finance Limited (“GHFL” or “the Company”), as a Housing Finance Company with assets size of Rs.50 crores and above, will be required to comply with the ‘Housing Finance Companies- Corporate Governance (NHB) Directions, 2016’ (“NHB CG Directions”) issued by the National Housing Bank (“NHB”) and will be required to disclose the policy on dealing with Related Party Transactions on its website and also in the Annual Report.
Accordingly, it is proposed to adopt Policy on Related Party Transactions (“the Policy”) with the approval of the Board.
Policy Objective
The Policy on Related Party Transactions (“the Policy”) is being adopted by the Company to set forth the procedures under which its transactions with Related Parties shall be reviewed for approval or ratification.
Policy Approval
The Policy therein shall be approved by the Board of Directors, on the recommendation of the Audit Committee.
Effective Date
This Policy shall be effective from the date of approval of the Policy.
Review of Policy
The Audit Committee will review and may amend the policy from time to time.
All Directors and Key Managerial Personnel (KMPs) shall be responsible for informing the Company of their interest (including interest of their Relatives) in other companies, firms or concerns at the beginning of every financial year and any change in such interest during the year, immediately on occurrence. Further, Directors and KMPs should disclose to the Board whether they, directly, indirectly, or on behalf of third parties, have material interest in any transaction or matter directly affecting the Company.
In addition, all Directors and KMPs are responsible for giving notice to the Company Secretary of any potential Related Party Transaction involving them or their Relatives.
Such notice of any potential Related Party Transaction should be given well in advance so that the Company Secretary (or such other person who may be entrusted for this purpose by the Audit Committee) has adequate time to obtain and review information about the proposed transaction and place the same before the Audit Committee.
The relevant Director/ KMP will also be required to provide any additional information about the transaction that the Board/Audit Committee may reasonably request. The Board/ Audit Committee will determine whether the transaction does, in fact, constitute a Related Party Transaction requiring compliance with the Policy.
The Audit Committee of the Board will review and, if appropriate, approve Related-Party Transactions. Accordingly, at the first meeting of the Audit Committee in every financial year, management shall present to the committee the following information with respect to all Related Party Transactions expected to be entered into during that financial year:
After reviewing such information and being satisfied that there is a need for such Omnibus approval, the members of the Audit Committee (without the participation of the Committee member(s) interested in the transaction, if any) shall approve or disapprove such transactions. Omnibus approval of such transactions shall be given only if it is determined by the Committee that such transactions are:
Such omnibus approval shall specify:
The Audit Committee shall review, on a quarterly basis, the details of Related Party Transactions entered into by the company pursuant to each of the omnibus approval given. Such omnibus approvals shall be valid for a period not exceeding one financial year and shall require fresh approvals after the expiry of one financial year.
No member of the Audit Committee shall participate in the review, consideration or approval of any Related-Party Transaction with respect to which such member or any of his or her relatives is a Related Party.
If any material information with respect to such transactions shall change subsequent to the Committee’s review of such transactions, management shall provide the Committee with updated information at a subsequent meeting and will get the changes approved afresh by the Committee.
If any additional Related-Party Transactions are proposed to be entered into subsequent to the Committee’s first meeting in the financial year, management shall present such transactions to the Committee for approval before entering into such transaction (which can be taken by calling a meeting or by resolution passed through circulation).
All the directors are required to declare and disclose their concerns or interests in any company or companies or bodies corporate at the first Board meeting in every financial year and subsequently whenever there is any change therein.
Omnibus approval shall not be made for the transactions in respect of selling or disposing of the undertaking of the Company.
All Related Party Transactions that are not in the ordinary course of business or not on arm’s length basis shall be referred to the Board of Directors for their approval.
Any member of the Board who has a potential interest in such Related Party Transaction will recuse himself or herself and abstain from discussion or voting on the approval of such Related Party Transaction.
Any such Related Party Transactions shall also be placed for prior approval of shareholders if it exceeds the thresholds as prescribed under the Companies Act, 2013 or any other regulatory/ statutory requirements.
All entities falling under the definition of Related Parties shall not vote to approve the said resolution being placed before the shareholders, irrespective of whether the entity is a party to the transaction or not.
For review of Related Party Transaction, all relevant material information of the Related Party Transaction, including the terms of the transaction, the business purpose of the transaction, the benefits to the Company etc. will be provided to the Board/ Audit Committee. In determining whether to approve or a Related Party Transaction, the Board/ Audit Committee will consider the following factors, among others, to the extent relevant to the Related Party Transaction:
The following Related Party Transactions shall not require any separate approval under the Policy:
All Related Party Transactions will be disclosed in Annual Report, Results and other filings made by the Company, to the extent required as per the applicable provisions of the laws and regulations.
Further, as required in the NHB CG Directions, the Company will disclose the Policy on its website as well as in its Annual Report
We have received your details. Our customer care officer will be in touch with you soon.
Our Collections partner is Conneqt Business Solutions Ltd.