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 DETAILS
Loan Application No. |
|
Sanctioned Loan Amount |
|
Type of Loan |
|
DETAILS OF RATE OF INTEREST
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. |
OTHER TERMS RELATED TO THE LOAN FACILITY
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 PROPERTY AND THE BORROWER
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. |
Note: The terms & conditions including claims & coverage will be governed by
the issuer of such insurance policy. Please note that the decision to cover and settle any
future claim under the policy would solely rest with the respective insurance company.
Insurance is the subject matter of solicitation.
SCHEDULE OF CHARGES
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%
- Fixed Rate Loans 0% for prepayment up to 20% of the loan amount in a financial
year
- 4% of Principal prepaid over and above 20% in a financial year
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 |
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
NOTICE/ COMMUNICATION RELATING TO RATE OF INTEREST, FEE AND CHARGES
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.
|
SECURITY/ COLLATERAL FOR THE LOAN
Mortgage of below mentioned property in favour of the Company |
Details of the Property Mortgaged: _____ |
Other Security: _____ |
Detail of Guarantor(s): _____ |
CONDITIONS FOR THE DISBURSMENT OF LOAN
- Clear, marketable title of the property in favour of the borrower and mortgage;
- A valid mortgage (equitable or registered) to be created in favour of the
Company as per the legal requirements;
- Execution/ Submission of all documents as mentioned by the Company in the
Sanction Letter/ Loan Agreement;
- Any other condition mentioned in the Sanction Letter/ Loan Agreement.
|
Any Special Condition: As per the Sanction Letter/ Loan Agreement, if any. |
PROCEDURE OF RECOVERY OF OVERDUES ARE AS FOLLOWS
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. |
CUSTOMER SERVICES
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 |
DECLARATION/ UNDERTAKING
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. |
CUSTOMER GERIEVANCE MECHANISM
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.
- Call us on 022-68815555 or Email to customercare@godrejhf.com (From Monday
to Sunday, 9:00 AM to 6:00 PM)
- Visit the website - www.godrejhf.com
- Write a letter addressed to
Customer service Team
Godrej Housing Finance, 3rd
Floor, Godrej One
Pirojshanagar, Vikhroli East,Mumbai, 400079
Maharashtra,
India
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:
- Name: Aarti Dhurandhar
E-mail ID.: nodalofficer@godrejhf.com
Telephone no.:
9819038612
Address-
Aarti Dhurandhar
Godrej Housing
Finance
3rd Floor, Godrej One
Pirojshanagar, Vikhroli East
Mumbai,
400079
Maharashtra, India
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
DECLARATION/UNDERTAKING BY THE BORROWER
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 |
______ |