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What is the repayment tenure?
  • Home Equity Loans - Maximum loan tenure of 15 years.
  • Office premise loan - Maximum loan tenure of 15 years.
  • Home loan - Maximum loan tenure of 30 years.
How is the loan repaid?
  • All loan repayments are done via equated monthly instalments (EMI).
What is an EMI?
  • An EMI refers to an equated monthly instalment. It is a fixed amount which you pay every month towards your loan. It comprises of both, principal repayment and interest payment.
When does the repayment start?
  • EMI payments start from the month following the month in which the full disbursement has been made.
How is the EMI paid?
  • The EMI is to be paid every month through post-dated cheques (PDCs) or Electronic Clearing System (ECS)*. If you are opting for PDCs, then you will have to provide 36 PDCs upfront. The PDCs are to be dated on the 1st of every month. However, if you receive your salary a few days later, no problem. We provide the flexibility of dating the cheques for the 7th of the month.
  • * ECS facility is available in selected cities only.
What if a PDC bounces?
  • In the case of a bounced cheque or delayed payment, charges and outstanding dues will be charged as per the prevailing company policy. You can replace old PDCs with new ones within 5 - 7 working days.
What is pre-EMI interest?
  • In the case of part disbursement of the loan, monthly interest is payable only on the disbursed amount. This interest is called pre-EMI interest (PEMI) and is payable monthly till the final disbursement is made, after which the EMIs would commence.
When do I pay PEMIs?
  • The first PEMI is payable by cheque by the end of the month in which the disbursement is made and each subsequent PEMI at the end of every month till the commencement of EMI

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