Most Important Terms & Conditions
|MOST IMPORTANT TERMS AND CONDITIONS
OFFER CUM ACKNOWLEDGEMENT FORM
|Major Terms and Conditions of the housing loan agreed to between (Borrower(s) name) and New Habitat Housing Finance &Development Ltd. (NHHFDL) are as under:|
|Dear Customer Date:|
|Thank you for your decision to avail loan facility with NHHFDL. We hereby confirm our acceptance to extend the facility on terms referred herein.|
|PARTICULARS OF THE LOAN:|
|1||Application No./ LAN No.|
|2||Loan Amount (Rs.)|
|3||Loan Type Other: )||a. Home Loan b. Land Loan c. Loan cum construction Loan d. Home Equity f. Others…………………………………..(Please specify)|
|4||Rate Type||a Fixed b. Adjustable Rate Home Loan (ARHL) Rate c. Others|
Rate of Interest
|For a. Fixed Rate of Interest
(i) The Applicant/s shall pay interest on the principal amount of the Facility outstanding from time to time monthly at % per annum plus applicable taxes/ statutory levy on the dates mentioned below.
(ii) The Applicant/s shall pay PEMI at % per annum plus applicable taxes/ statutory levy until commencement of the EMI. Such PEMI will be calculated from the date of respective disbursement(s) and shall be payable on the dates mentioned below.
|For b. Adjustable Home Loan Rate (ARHL) of Interest :
(i) Retail Prime Lending Rate (RPLR) = %per annum as on date.
(ii) The Applicant/s will pay Adjustable Home Loan Rate (ARHL) Interest of % per annum (i.e. RPLR + margin of %) plus applicable interest tax or other statutory levies.
(iii) The Applicant/s shall pay PEMI at % per annum until commencement of the EMI payable on the dates mentioned below plus applicable interest tax or other statutory levies
(iv) Reset Period: Every three months from the date of first disbursement
|6||Tenure/Total No. of EMIs||months/ EMIs (Subject to change with a change in Base Rate, in cases of Floating / Adjustable Rate of Interest).|
|REPAYMENT OF THE LOAN & INTEREST:|
|1||EMI (Rs.)||Rs. (Subject to change with a change in RPLR, in cases of Floating / Adjustable Rate of Interest)|
|3||Due Date for payment of first EMI|
|INSURANCE OF THE PROPERTY AND THE BORROWER(S):|
|1||Insurance of the Borrower||Premium Features_Life cover for the Outstanding Loan Amount as per Policy availed by the borrower|
|2||Insurance of the property||Premium Features Property cover against any damage as per Fire Insurance Policy availed by the borrower|
|FEES AND OTHER CHARGES:|
|1||Processing/Admin Fees – Non – Refundable||% plus applicable taxes and/or other statutory levies.|
|2||Cancellation Charges / Fees||Rs. /- or % of the cancelled amount of the Facility plus applicable taxes and / or other statutory levies|
|3||Cheque dishonor Charges||Rs. /- or such other amount as may be specified by NHHFDL from time to time plus applicable taxes and other statutory levies|
|4||Document Retrieval Charges||Rs. /- plus applicable taxes and/or other statutory levies|
|5||Prepayment Charges :|
|i||Home Loan at Adjustable Rate||Rs. NIL|
|ii||Other Loan||_______________ % of amount prepaid plus applicable taxes and/or other statutory levies|
|6||Part Payment Fees||% of amount prepaid plus applicable taxes and/or other statutory levies|
|7||Cheque / Repayment Mode swap charges||As may be informed by NHHFDL to the Applicant(s)|
|8||Cheque Representation Charges||Rs. /- Plus applicable taxes / statutory levy|
|9||Statement of Account Charges|
|10||Late Payment Penalty||3% per month, Compound for no. of days delayed in EMI payment.|
|SECURITY FOR THE LOAN:|
|Mortgage of Below mentioned property in Favour of NHHFDL|
|Detail of Guarantor(s):|
|CONDITION FOR THE DISBURSEMENT OF LOAN:|
|The Loan is subject to satisfactory compliance of all terms and conditions as stipulated in the legal opinion report, technical verification report of the property, sanction letter and other term and conditions as applicable, to be funded by NHHFDL.|
|Any Special Condition: As per the Loan offer letter|
|PROCEDURE FOR INTIMATION OF THE CHANGES IN RATE OF INTEREST / EMI|
|In event of any change in rate of interest /EMI, NHHFDL will communicate the same to you through letter at the last known address as updated in our records, within 15 days of subsequent quarter.|
|Note: Service Tax & other govt. taxes, levies, etc. applicable as per prevailing rate will be charges over and above these charges.|
|I/we acknowledge that:|
|1 I / We have not made any payments in cash, bearer cheque or kind along with or in connection with this application to the executive collecting my / our application form.
2 All other terms and condition of the contract will be as per our loan agreement signed by you.
3 This offer is valid for 90 days, subject to submission and fulfillment of all required document for the proposed loan.
4 Company may withdraw this offer, if any information/document provided by you seems doubtful.
5 Please read our agreement carefully for executing the same, our executive will help you in understanding/ clarifying any clause if you required.
|PROCEDURE OF RECOVERY OF OVERDUES ARE AS FOLLOWS:|
|Governed by the terms and conditions of the loan agreement|
|For any assistance/queries, you can visit our office or contact us @ between 9:30 AM to 6:00 PM. You can also write to us at|
|You can collect the following documents by visiting our branch, timelines are mentioned for the same:|
|Loan Account Statement||Within 7 working days|
|Photocopy of the title documents||Within 14 working days|
|Return of Original document on closure of the loan||Within 21 working days|
|CUSTOMER GRIEVANCE MECHANISM|
|New Habitat Housing Finance & Development Limited ( NHHFDL), we believe in providing the best of services to our customers. We provide customers with easy access to information, products and services, as well as the means to get their grievances redressed.
Please visit to the nearest New Habitat Housing Finance & Development Limited ( NHHFDL), Branch and submit your complaints/grievance get your complaint logged in the “Complaint & Grievance Register” maintained at the branches (During the working hours from 9:30 A.M to 6:00 P.M) We will respond to your complaint within 15 working days.
Mr. Vivek Krishan
After examining the matter, we shall send the customer our final response or explain why it needs more time to respond and shall endeavor to do so within 15 working days.
If your compliant still remains unresolved, you may directly approach the regulatory authority of Housing Finance Companies, National Housing Bank for redressal of your complaints at below address:
The complaint can also be e-mailed at: firstname.lastname@example.org
|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 / to be executed by them.
The above terms and conditions have been read by the borrower/s / read over to the borrower by Shri/Smt./Km. of the company and have been understood by the borrower/s.
Signature of Borrower(s) along with full Name : Signature & Name of the Authorized Representative: