ROI Switch Policy of Housing Loans | Indiabulls Home Loans
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ROI Switch Policy

Home Loans (including plot purchase loans):


Floating Rate Loans  -
All existing borrowers have an option to change the existing applicable spread to the prevailing applicable spread. The fees payable shall be 25% to 50% of the difference of the two coupon rates between the existing and prevailing applicable spread subject to a minimum of  Rs. 10,000 plus applicable taxes. In case of a partly disbursed loan, the switch fee payable to avail the conversion shall be 0.25% to 0.50% on the principal outstanding (POS) only. There will be no switch fee payable on the undisbursed loan amount out of the total contracted loan.

Where the total loan amount contracted is less than or equal to Rs 28 lacs, the switch fee payable shall be 0.25% of the POS, subject to a minimum of Rs. 5000/- plus applicable taxes. Borrowers have the option to reduce his EMI keeping the residual tenor unchanged OR keep his EMI unchanged and thereby reducing his residual tenor. He can also opt for changing both the EMI and tenor within the band to suit his convenience. The reset of spread will be effective from the first day of the following calendar month from the date of switch.

The facility is available only to regular paying borrower with nil EMI/PEMI bouncing under normal banking of ECS/PDC in the preceding six months from the date of application for switch. Service Tax as applicable on Switch Fees.

The above fees/charges are subject to change without prior notice.


Non-Home Loans ( Loan Against Property / Home Equity / Commercial Purchase / Top-Up) :


Only Floating Rate Loans -
Existing borrowers have an option to change the existing applicable spread to the prevailing applicable spread. The fees payable shall be 50% of the difference of the two coupon rates between the existing and prevailing applicable spread subject to a minimum fees of 0.50% of the principal outstanding at the time of conversion. In case of a fully disbursed loan, the switch fee payable shall be on the principal outstanding (POS). In case of a partly disbursed loan, the switch fee payable shall be on the principal outstanding (POS) only. There will be no switch fee payable on the undisbursed loan amount out of the total contracted loan.

Borrowers have the option to reduce his EMI keeping the residual tenor unchanged OR keep his EMI unchanged and thereby reducing his residual tenor. He can also opt for changing both EMI and tenor within the band to suit his convenience. The reset of spread will be effective from the first day of the following calendar month from the date of switch. Service Tax as applicable on the switch fee.

The above fees/charges are subject to change without prior notice