IIFL HOME FINANCE LTD.

Most Important Terms and Conditions

The Most Important Terms and Conditions(MITC) of loan between the borrower/s and IIFL Home Finance
Limited, having its registered office at IIFL House, Sun Infotech Park, Road No. 16V, Plot No. B-23, MIDC,
Thane Industrial Area, Wagle Estate, Thane – 400604 (hereinafter referred as IIFL-HFL) are agreed upon
and mentioned below.

1. Loan Sanctioned Amount: ₹ 33,60,000.00

2. Purpose of Loan: Renovation
3. Security/Collateral of Loan:
i. Mortgage: 214/1, NO 229 VELLA KALVAI STREET ARAKKONAM TALUKA, NO 229 VELLA
KALVAI STREET ARAKKONAM TALUKA, NO 229 VELLA KALVAI STREET ARAKKONAM
TALUKA, Vellore, NEYAR BUS STAND, Arakkonam, Tamil Nadu, INDIA, 631006
ii. Guarantor: Not Applicable
iii. Other security, if any: Not Applicable
4. Interest:
i. Type : Adjustable Interest Rate(AIR)*
ii. Adjustable Interest Rate(AIR)* : 9.75 %

*(The rate of interest is subject to revision from time to time due to changes in the base rate or
other factors, IIFL HFL has the option to reduce or increase the EMI or extend the repayment
period or both consequent upon revision in interest rate. The Borrower will be notified of any
such revisions, and they will be binding on the Borrower. For more details, please refer to
clauses 4 and 7 of the Loan Agreement and our website https://www.iiflhomeloans.com,
specifically, sub-clause 2.6 of Standard Terms & Conditions and Standard MITC.)
iii. Moratorium or Subsidy : Not Applicable
iv. Date of Reset of Interest : first day of January, April, July, and October of every year

5. Repayment:
i. Installment Types: Monthly
ii. Loan Tenure : 240 months
iii. Total EMI Amount *: 31871.00
iv. Total No. of Installments for repayment of Loan in EMI (Months)* : 240
v. Modes of Communication : Any change in AIR would be duly communicated to the borrower
through SMS/ E-mail/ Courier or any other electronic mode prevalent for the time being, at the
contact details available with IIFL HFL.
*Subject to variation in terms of the loan agreement executed / to be executed between the Borrower / s and
IIFL HFL. Any change in Adjustable Interest Rates is duly informed to the Borrowers through SMS (vide regd
mobile number)/ E-mail (vide regd E-mail ID)/ Postal services like Courier, India Post or any other electronic
mode prevalent for the time being. For latest update please visit our web site www.iiflhomeloans.com
6. Conversion charges for switching Floating to Fixed interest, from Floating to Floating interest, from
Fixed to Fixed Interest & from Fixed to Floating Interest has been provided in the Switch/ Conversion
fees table in 'Most Important Terms and Conditions and Schedule of Charges' on IIFL HFL
official website at www.iiflhomeloans.com/terms-and-condition/most-important-terms-and-condition
7. Fee and Other Charges* during term of loan:
Retrieval charges for original property ₹ 2000 per instance
document in IIFL custody (before loan
closure)
Retrieval charges for Copies of loan /copies ₹ 500 per instance
of property document in IIFL custody
IIFL HOME FINANCE LTD.

Cheque / ECS Dishonour Charges ₹ 500 for each ECS/cheque bounce - Nil on
Representation of ECS / Cheque
Late Payment Charges 18% per annum on the overdue loan amount
Charges for Statement Of Account / Nil
Amortization Schedule
Collection Visit Charges ₹ 500 per instance
Collection convenience Fee For Online Transaction: ₹ 100 per instance for online
collection. This fee would not be charged if customer
makes a payment of below ₹ 500
For cash Deposit: ₹ 200 per instance will be charged for
depositing cash with channel partners. This fee would
not be charged if customer makes a payment of below ₹
500
Issuance of FC statement ₹ 500 per instance
Custodial Fee for property documents in ₹ 500 Per month (post 60 Days from Loan Closure Date)
closed loans
Cheque/ECS Swapping charges ₹ 500 per instance
Presentation Charges For HL/ Swaraj HL- ₹ 444.
For LAP/ Sammaan/ Secured business loan - ₹313
For Construction Finance / Project Finance cases – ₹ 129

Note: The above charges are exclusive of applicable taxes, if any.

i. Fee refundable if loan not sanctioned/ disbursed: Processing Fee paid by customer for
availing the loan is non- refundable.
ii. Penalty for delayed payments: 18% per annum on the overdue loan amount.
iii. All fees/charges are subject to applicable GST.
iv Stamp duty, e-filing charges, and other statutory dues applicable on the
Security/Transaction documents may vary depending on locations and payable by
borrower/s in addition to processing fees.
v. The above mentioned charges / fees are as on date of the Loan Agreement and are
subject to change from time to time. For latest updated details of applicable fee and other
charges, please refer to the Company’s official website
https://www.iifl.com/sites/default/files/pdf/MITC-SOC.pdf.
8. Insurance of Property/Borrowers:
i. The Borrower/s shall keep the property under security insured with comprehensive
Insurance policy equivalent to the loan outstanding at any point of time during the
pendency of the loan with IIFL HFL as the sole beneficiary under said policy / policies.
ii. The Borrower/ s may keep his / their life insured equivalent to loan outstanding at any
point of time during the pendency of the loan with IIFL HFL as the sole beneficiary under
said policy / policies.ii.
9. Conditions for Disbursement of the Loan: IIFL HFL shall not disburse any home loan to the
Borrower unless the conditions mentioned in the Home Loan Sanction Letter and Loan
Agreements are complied with, to the satisfaction and sole discretion of IIFL HFL. Few of which are
as given below:
i. The Borrower must fulfil the IIFL HFL’s requirement of credit worthiness.
ii. Execution of loan agreement and such other ancillary documents
iii. Submission of Cheques/ECS/ACH or any other clearing system in force for the time
iv. Creation of security in favour of IIFL HFL.
v. Utilisation of disbursement should be towards acquisition/construction of property or as
per the end use specified
IIFL HOME FINANCE LTD.

vi. The Borrower must disclose every material fact which may affect the borrower’s loan
proposal.
10. Purpose of Loan - IIFL HFL offers a variety of Loan options depending on the requirement of the
borrower/s like Home Loan for Purchase/Construction/ Renovation, Home Loan for Purchase of Land /
Loan Against Property / Loan for Purchase of commercial property etc. Borrower/s is/are advised to
refer the Loan Agreement to know the Purpose of Loan sanctioned.
11. Brief procedure to be followed for Recovery of Overdues: On the occurrence of Event of
Default as mentioned in the Loan Agreement , the Borrower to be sent reminder from time to
time for payment of the outstanding amount on his loan account by Telephone, E- mail,
Courier, SMS and / or through third parties appointed for collection purposes to remind,
follow-up and collect dues. The Collection methodology broadly includes the following:
i. Tele- Calling : It involves contacting the Borrower over the phone and making them aware about
the missed due date and requesting to pay the arrears at the earliest.
ii. Field Collection : It involves meeting the Borrower and collecting the payment of the amount
due. The activity shall be carried out through employees of IIFL HFL or authorized
representatives. The payment would be collected either in cash or in the form of a cheque/DD
against the valid receipt only which will be issued to Borrower.
iii. Legal action shall be taken based on circumstances of each delinquent account, as per the
policy of IIFL HFL and pursuant to the provision of applicable laws. Hence, IIFL HFL shall use
a judicious mix of field visit, written communication and legal action to ensure proper and
effective coverage for the different category of delinquent account.
12. Annual Outstanding Balance Statement: IIFL HFL will issue the Annual Outstanding Balance
Statement along with Annual Income Tax Certificate for the preceding Financial Year to all Home
Loan Borrowers in the first quarter of every Financial Year.
13. Co-lending arrangement: IIFL HFL has entered and may enter into co-lending arrangement with
various banks. It is possible that upon independent appraisal process of such banks, the loan account
may be selected for co-lending purposes. Upon such selection of the Loan account, an intimation will
be sent to the borrower through SMS and/or Email and/or any other suitable means.
14. Customer Services:
i. Borrower can visit the Service Branch during visiting hours of 10 am –4:30 pm from Monday to
Friday (except Public Holidays)
ii. Borrower can contact our call centre at 18602673000 (helpline) between 9:30 am - 6:00 pm (toll
free)from Monday to Friday (Except Public Holidays).
iii. Borrower can reach to Customer Service www.iiflhomeloans.com/raise-a-request
iv. Indicative Timelines of common request servicing:
a. Loan account statement – 3 working days from date of request
b. Photocopy of the title documents – 7 working days from date of request
c. Return of original documents on closure/transfer of loan – 15 working days from date of
closure.
d. Issuance of foreclosure statement – 15 working days from the date of request.
15. Grievance Redressal - For any service related issue including obtaining documents or in case of any
complaint / grievance, the Borrower may communicate in writing, orally, electronically through e -
mail, website, telephone and modes given below. The Borrower may contact our Office through any of
the following channels:
i. By telephonic communication with our call centre at 1860 267 3000(helpline) between 9:30
am – 6 pm from Monday to Friday (Except Public Holidays).
ii. By way of online request www.iiflhomeloans.com/raise-a-request
iii. By way of written letter addressed to Customer Service - Home Loans, IIFL Home Finance
Ltd, IIFL House, Sun Infotech Park, Road No. 16V,Plot No.B-23, Thane Industrial Area, Wagle
Estate, Thane – 400604
iv. By way of physically visiting the Service Branch and lodge a complaint in the Complaint Register
maintained at our branches
IIFL HOME FINANCE LTD.

In case the response is unsatisfactory or no response is received from above mentioned sources, the
complaint may be escalated to: Grievance Redressal Officer - Sugandha Kochhar at gro@iifl.com, IIFL
Tower, 98, UdyogVihar, Phase-IV, Gurgaon, Haryana -122015

Borrower can further escalate the complaint to: Nodal Officer: NO@iifl.com,IIFL Tower, 98, UdyogVihar,
Phase-IV, Gurgaon, Haryana -122015

In case the complainant is dissatisfied with the response received from IIFL HFL or where no response is
received, the Complainant may approach the Complaint Redressal Cell of National Housing Bank by
lodging its complaint in online mode at the link grids.nhbonline.org.in OR in offline mode by post, in
prescribed format, available at link http://www.nhb.org.in/Grievance-Redressal-System/Lodging-
Complaint-Against-HFCs-NHB%E2%80%93Physical-Mode.pdf to Complaint Redressal Cell,
Department of Regulation & Supervision, National Housing Bank, 4th Floor, Core 5A, India Habitat Centre,
Lodhi Road, New Delhi – 110003

It is hereby agreed that for detail terms and conditions of the Loan, the parties here to 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,understood
and agreed upon borrower/s.

This is a system generated Letter and does not need any signature

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IIFL Home Finance Limited

Corporate Identity number - U65993MH2006PLC166475
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V Plot No. B-23, MIDC, Thane
Industrial Area, Wagle Estate, Thane - 400604
Helpline Number. 1860 267 3000 / 7039050000 | Tel: 022 - 6788 1000 | Website:
www.iifl.com/home-loans
Corporate Office - Plot No. 98, Udyog Vihar Phase IV, Sector 18, Gurgaon, Haryana 122016