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Introducing the First-in-industry IDFC FIRST Bank's Super Account
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You gain a dedicated partner committed to helping you reach your full potential and achieve new heights
Know More- Account with Auto-Sweep FD
- Account for all Domestic businesses
- Account for Importers & Exporters
- Account for Start-ups
- Accounts for Trusts/Associations/Societies/Clubs
- Account for Merchants
- Account for Agri Traders
- Account for Self-employed professionals
- Special Purpose Accounts e.g. SNRR, RERA, EEFC
BRAVO (Auto Sweep)
Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Streamline your export process with digital convenience with IDFC FIRST Bank's Export Solutions
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Make more than one online payment in just a few clicks with IDFC FIRST Bank Bulk Payments
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Charges
| Items (INR) | HOME LOANS | LAP | Remarks |
|---|---|---|---|
| Processing Fees | 1.5% of the Sanctioned loan Amount | 2% of the Sanctioned loan Amount | To be paid at the time of disbursement |
| Login Fees | Rs. 2,500 | Rs. 2,500 | Non-refundable |
Other Charges
| HOME LOANS | LAP | Remarks | |
|---|---|---|---|
| EMI bounce charges | • 7.5% of EMI • Minimum : Rs. 400 • Maximum : Rs. 1000 |
• 7.5% of EMI • Minimum : Rs. 400 • Maximum : Rs. 1000 |
For each presentation dishounoured |
| Cheque/ Instrument Swap charges (per swap) | NIL | NIL | |
| Copies of documents charges | Rs.500/- | Rs.500/- | Per request for copies / list of documents |
| Duplicate list of documents | Rs.500/- | Rs.500/- | Per request for copies / list of documents |
| Duplicate no objection certificate/no due certificate | Rs.500/- | Rs.500/- | Request in addition to bank's issued letter |
| Disbursement Cheque cancellation | Rs.500/- per cancellation | Rs.500/- per cancellation | On specific request and as per bank’s internal guidelines |
| Legal/technical verification charges | on actuals | on actuals | For initiation of legal & technical verifications. |
| Other statutory / mortgage creation charges e.g. Stamp duty, MOD, MOE etc. | on actuals | on actuals | As applicable for each state for creation of mortgage |
| Loan rescheduling charges (per rescheduling) | Rs.300 | Rs.300 | |
| Physical Repayment Schedule | Rs.500 | Rs.500 | |
| Physical Statement of Account | Rs.500 | Rs.500 | |
| Document retrieval charges (per retrieval) | Rs.500 | Rs.500 | |
| EMI Pick up/collection charges | Rs.500 | Rs.500 | |
| Cancellation & Rebooking charges | 1% of the loan amount + interest from date of disbursal till receipt of cancellation request. Cancellation request to be received within 30 days or 1st EMI presentation date, post which cancellation will be treated as foreclosure | Rs. 10000 exclusive of GST within 30 days of disbursement or 1st EMI presentation whichever is earlier. Post 30 days or 1st EMI presentation request for cancellation will be treated as foreclosure |
|
| Interest rate type Switch fee | 0.1% of the sanctioned loan amount or Rs.10,000/- whichever is lower excluding applicable charges/ taxes | 0.1% of the sanctioned loan amount or Rs.10,000/- whichever is lower excluding applicable charges/ taxes |
Charges on account of delayed payments / defaults
| Penal Charges | 2% of the unpaid EMI (Exclusive of GST) or Rs 300 (Exclusive of GST) whichever is higher. | Penal charges are levied in case of non-payment of the monthly payment. It is charged on the overdue instalment for the defaulted period |
| Incidental charges & expenses | Incidental charges & expenses are levied to cover the costs, charges expenses and other monies that may have been expended in connection with recovery of dues from a defaulting customer. Charged on actuals. | |
| Re-pricing fees | Upto 2 % | Re-pricing fee will be charged on loan outstanding. At the request of the borrower, bank at its sole discretion may permit the borrower for repricing of the loan. |
Part Payment Charges
|
Rate Type |
HL |
LAP |
Remarks |
Part Payment Charges |
Floating Rate |
0-for individual |
0-for individual, Micro and Small enterprises |
Charged on amount in excess to 10% of the sanctioned amount in a Fiscal Year. |
Fixed Rate |
3% |
0- for Micro and Small enterprises if Loan Amount <= Rs 0.5 cr. |
Foreclosure charges
|
Rate Type |
HL |
LAP |
Remarks |
Foreclosure Charges |
Floating Rate |
0-for individual |
0-for individual, Micro and Small enterprises |
Charged on Principal Outstanding Amount
|
Fixed Rate |
3% |
0- for Micro and Small enterprises if Loan Amount <= Rs 0.5 cr. |
Interest Rate
| INTEREST RATE | Floating Interest Rate: Interest Rate on your loan is linked to the EBR rate of the period applicable to your loan. Fixed Interest Rate: Fixed rate period will be linked to the date of the first disbursement. At the end of fixed interest rate. |
||
Reset Frequency
| RESET FREQUENCY | Interest rate on your loan will reset quarterly and will be based on the period of EBR applicable to your loan. | ||
*All fees/charges to be paid shall be exclusive of goods and services tax(GST), as may be applicable. The services accounting code would be provided by IDFC FIRST Bank and shall be binding on customer Debit Card.
FREQUENTLY ASKED QUESTIONS
What is the processing time for my Home Loan?
The Bank would require a processing time of approximately 15 working days from the date of the completed application. This is subject to submission of all documents as required by the Bank.
What would happen to the legal and technical fee in case I do not wish to proceed with the loan application?
The legal and technical fee would be retained or refunded as per the scenarios listed below:
| S No | Scenario | Legal/Technical Initiated |
Legal/Technical Fee to be refunded |
| 1 | Customer not interested due to sanctioned amount lower than requested amount | No | Yes |
| 2 | Customer not interested due to sanctioned amount lower than requested amount | Yes | No |
| 3 | Loan application rejected basis Legal/Technical report | Yes | No |
| 4 | Loan application sanctioned but not availed | Yes | No |
