Updated

till Oct 1, 2020

IIFL Home Finance Limited
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 - Loan is sanctioned basis a combination of several factors like repayment capacity, collateral security, past and present credit history and
other risk parameters. Borrower/s is/are advised to refer to the Loan Agreement to know the loan amount sanctioned.
2. Interest -
(I) Type: (Fixed or Floating )- IIFL HFL offers only Adjustable Interest rate (AIR) throughout the tenure of all retail loans
(ii) Interest Chargeable - AIR (Adjustable Interest Rate) is computed with reference to the Prime Lending Rate of IIFL HFL together with the
margin, if any, as specified in detail in the Loan Agreement. Refer latest ROI grid for Indicative Rate of Interest under AIR.
(iii) Moratorium or Subsidy: Not applicable
(iv) Date of reset of interest: Interest Rate Reset Revision Cycle “IRRRC” is quarter of English calendar year beginning from first day of January,
April, July, and October of each year. AIR will be reset on the first day of the quarter following the month in which the PLR is changed.
(v) Modes of Communication of changes in interest rate: Any Change in Adjustable Interest Rate 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 https://www.iifl.com/home-loans.
3. Installment Types – Monthly
4. Loan Tenure: IIFL HFL offers a wide range of loan tenures starting from 1 year upto 30 years depending on a combination of various parameters
like age of borrower/s, loan product, collateral security etc. Borrower/s is/are advised to refer the Loan Agreement to know the loan tenure
sanctioned.
5. 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/ Purchase of Land or Loan Against Property or Loan for Purchase of commercial property etc. Borrower/s is/are
advised to refer the Loan Agreement to know the Purpose of loan sanctioned.
6. Conversion from floating to floating & fixed to fixed may be opted by the customer. The interest rate reduction to be followed for applicable fee
structure is mentioned below.
7. Customers can opt for interest rate reduction facility. Fee payable as per interest rate reduction grid is mentioned below.
8. On Foreclosure:
Kindly refer detailed "schedule of charges”
(a) Fee refundable if loan not sanctioned/ disbursed: Processing Fee paid by customer for availing the loan is non-refundable.
(b) Conversion from floating to floating & fixed to fixed may be opted by the customer. The interest rate reduction to be followed for applicable
fee structure is mentioned below.
(c) Penalty for delayed payments: 36% per annum on outstanding EMI
*All fees/charges are subject to applicable taxes.
*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.
The above mentioned fees and charges are subject to change from time to time. For latest updated details of applicable fees and other
charges, please refer to the Schedule of charges below
9. Security/ Collateral for the Loan: Security of the loan would generally be security interest on the property being financed and / or any other
additional security in the nature of additional property/ Guarantors as may be mandated by IIFL HFL. Borrower/s is/are advised to refer the
Loan Agreement and Sanction Letter to know the security details of the Loan sanctioned.
10. Insurance of the 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.
11. Conditions for Disbursement of the Loan:
IIFL HFL shall not disburse any loan to the Borrower/s unless the conditions mentioned in the Sanction Letter and Loan Agreements are
complied with, to the satisfaction and sole discretion of IIFL HFL. Few of which are as given below:
• The Borrower must fulfil the IIFL HFL’s requirement of credit worthiness.
• Execution of loan agreement and such other ancillary documents
• Submission of cheques/ECS/ACH/ etc. any other clearing system in force for the time being towards repayment of instalments
• Creation of security in favour of IIFL HFL.
• Utilisation of disbursement should be as per the end use specified
• The Borrower must disclose every material fact/s which may affect the borrower’s loan proposal.
12. Repayment of Loan & Interest: Repayment of loan to be by way of pre-EMI/EMI during the entire tenure of the loan as per terms outlined in the
Loan Agreement. Borrower is advised to refer to the Loan Agreement for details of repayment in Equated Monthly Installments (EMI/Pre-EMI) or
other payments, EMI cycle, due dates etc. Any change in the AIR/EMI would be communicated in advance as per clause 2(V) above of MITC.
13. 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

IIFL Home Finance Limited

Corporate Identity Number: U65993MH2006PLC166475
Corporate Office: Plot No.98, Udyog Vihar, Phase - IV, Gurgaon - 122015 (Haryana)
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate , Thane - 400604
Tel: (91-124) 475 4900 • https://www.iifl.com/contact-us/home-loan/raise-a-request • website: https://www.iifl.com/home-loans
 and/or through third parties appointed for collection purposes to remind, follow-up and collect dues. The Collection methodology broadly
includes the following:
a. 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.
b. 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.
c. 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. 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.
14. Annual Outstanding Balance Statement: IIFL HFL will issue the Annual Outstanding Balance Statement alongwith Annual Income Tax
Certificate for the preceding Financial Year to all Home Loan Borrowers in the first quarter of every Financial Year.
15. Customer Services:
a) Borrower can visit the Service Branch during visiting hours of 10:00 am – 4:30 pm from Monday to Friday (Except Public Holidays).
b) Borrower can contact our call centre at 18602673000 (helpline) between 9:30 am – 6 pm from Monday to Friday (Except Public Holidays).
c) Borrower can reach to Customer Service vide e-mail :- https://www.iifl.com/contact-us/home-loan/raise-a-request
d) Indicative Timelines of common request servicing:
i. Loan account statement – 3 working days from date of request
ii. Photocopy of the title documents – 7 working days from date of request
iii. Return of original documents on closure/transfer of loan – 15 working days from date of request
iv. Issuance of loan foreclosure statement - 15 working days from date of request
16. 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:
• By telephonic communication with our call centre at 18602673000 (helpline) b/w 9:30 am – 6 pm from Monday to Friday (Except Public
Holidays).
• By way of online request - https://www.iifl.com/contact-us/home-loan/raise-a-request
• 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
• By way of physically visiting the Service Branch and lodge a complaint in the Complaint Register maintained at our branches
In case the response is unsatisfactory or no response is received from above mentioned sources, the complaint may be escalated to: Grievance
Redressal Officer at [email protected], IIFL Tower, 98, Udyog Vihar, Phase-IV, Gurgaon, Haryana -122015
Borrower can further escalate the complaint to: Nodal Officer: [email protected], IIFL Tower, 98, Udyog Vihar, 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 https://grids.nhbonline.org.in OR in offline
mode by post, in prescribed format, available at link
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 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,understood and agreed upon borrower/s.

IIFL Home Finance Limited

Corporate Identity Number: U65993MH2006PLC166475
Corporate Office: Plot No.98, Udyog Vihar, Phase - IV, Gurgaon - 122015 (Haryana)
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate , Thane - 400604
Tel: (91-124) 475 4900 • https://www.iifl.com/contact-us/home-loan/raise-a-request • website: https://www.iifl.com/home-loans
 Updated till Oct 1, 2020
Schedule of Charges

i. On Application

Processing Fees Upto 1.25% (Home Loans)

Upto 2.00% (Samman)
Upto 1.75% (Swaraj)
Upto 2.00% (others)
CERSAI Fees Rs 50/- (for loans <= Rs 5 lacs)
Rs 100/- (for loans > Rs 5 lacs)
Transaction/Legal Handling charges in Balance Rs. 2500/-
Transfer – only Home Loans
Collateral Evaluation Charges in HL Non APF Rs 3000/-
Collateral Evaluation Charges Non HL <=2 Cr Rs.5000/-
Collateral Evaluation Charges Non HL >2 to 5 Cr Rs.10000/-
Collateral Evaluation Charges Non HL > 5 Cr Rs.25,000/-
Collateral Evaluation Charges Project Finance <5Cr Rs.15,000/-
Collateral Evaluation Charges Project Finance >=5Cr Rs.1,00,000/- or actual charges, whichever is higher
Collateral Evaluation Charges in P+C transactions Rs.5500/-
Note: The above charges are exclusive of applicable taxes, if any.

ii. During Term of Loan:

Retrieval charges for original property document in Rs 2000/- per instance

IIFL custody (before loan closure)
Retrieval charges for Copies of loan /copies of property Rs 500/-per instance
document in IIFL custody
Cheque / ECS Dishonour Charges Rs 500/- for each ECS/cheque bounce - Nil on Representation of
ECS / Cheque
Late Payment Charges 18% per annum of outstanding EMI
Charges for Statement Of Account / Amortization Schedule Nil
Collection Visit Charges Rs 500/- per instance
Collection Convenience Fee For Online Transaction: Rs. 100/- per instance for online
collection. This fee would not be charged if customer makes a
payment of below INR 500/-
For cash Deposit: Rs. 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 INR 500/-
Issuance of FC statement Rs 500/- per instance
Custodial Fee for property documents in closed loans Rs 500/- Per month (post 60 Days from Loan Closure Date)
Cheque/ECS Swapping charges Rs 500/- per instance
Presentation Charges For HL- Rs.1000
For LAP- Rs.700
Note: The above charges are exclusive of applicable taxes, if any.

IIFL Home Finance Limited

Corporate Identity Number: U65993MH2006PLC166475
Corporate Office: Plot No.98, Udyog Vihar, Phase - IV, Gurgaon - 122015 (Haryana)
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate , Thane - 400604
Tel: (91-124) 475 4900 • https://www.iifl.com/contact-us/home-loan/raise-a-request • website: https://www.iifl.com/home-loans
 iii. On Foreclosure/ Pre-Payment:

Foreclosure Charges Pre-payment Charges

Full Prepayment / Loan Foreclosure Part Prepayment

Individual Non-Individual Individual Non-Individual

Portfolio/ ROI Type Source of Source of Source of Funds Source of Source of Source of Funds
Type of Loan Funds Funds -any sources Funds Funds other -any sources
- own - Balance - own than - own
sources Transfer sources sources

Home Loan Variable Nil Nil Within 12 months Nil Nil Within 12 months
of 1st of 1st
Disbursement -5% Disbursement - 5%
of amount prepaid of amount prepaid
+ applicable + applicable
taxesPost 12 taxesPost 12
months of 1st months of 1st
disbursement - 3% disbursement - 1%
of amount prepaid of amount prepaid
+ applicable taxes. + applicable taxes.

LAP Variable Nil Nil Within 12 months Nil Nil Within 12 months
of 1st of 1st
Disbursement -5% Disbursement - 5%
of amount prepaid of amount prepaid
+ applicable + applicable
taxesPost 12 taxesPost 12
months of 1st months of 1st
disbursement - 3% disbursement - 1%
of amount prepaid of amount prepaid
+ applicable taxes. + applicable taxes.
Swaraj - HL Mixed (Fixed for Nil Within 12 Within 12 months Nil Within 12 Within 12 months
1st 3 years + months of of 1st months of of 1st
Variable after 1st Disbursement -5% 1st Disbursement - 5%
completion of Disbursem of amount prepaid Disbursem of amount prepaid
3 years) ent -5% of + applicable ent -5% of + applicable
amount taxesPost 12 amount taxesPost 12
prepaid + months of 1st prepaid + months of 1st
applicable disbursement - 3% applicable disbursement - 1%
taxes of amount prepaid taxes of amount prepaid
Within 13 + applicable taxes Within 13 + applicable taxes.
mths to 36 mths to 36
mths of 1st mths of 1st
disb - 3% of disb - 1% of
amount amount
prepaid + prepaid +
applicable applicable
taxesPost taxesPost
36 months 36 months
of 1st of 1st
disburseme disburseme
nt (Loan nt (Loan
converted converted
to variable to variable
ROI)-Nil ROI)-Nil

Updated till: 11-09-2020

IIFL Home Finance Limited

Corporate Identity Number: U65993MH2006PLC166475
Corporate Office: Plot No.98, Udyog Vihar, Phase - IV, Gurgaon - 122015 (Haryana)
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate , Thane - 400604
Tel: (91-124) 475 4900 • https://www.iifl.com/contact-us/home-loan/raise-a-request • website: https://www.iifl.com/home-loans
 Swaraj - HE Mixed (Fixed for Nil Within 12 Within 12 months Nil Within 12 Within 12 months
1st 3 years + months of of 1st months of of 1st
Variable after 1st Disbursement -5% 1st Disbursement - 5%
completion of Disbursem of amount prepaid Disbursem of amount prepaid
3 years) ent -5% of + applicable taxes ent -5% of + applicable taxes
amount Post 12 months of amount Post 12 months of
prepaid + 1st disbursement - prepaid + 1st disbursement -
applicable 3% of amount applicable 1% of amount
taxes prepaid + taxes prepaid +
Within 13 applicable taxes. Within 13 applicable taxes
mths to 36 mths to 36
mths of 1st mths of 1st
disb - 3% of disb - 1% of
amount amount
prepaid + prepaid +
applicable applicable
taxesPost taxesPost
36 months 36 months
of 1st of 1st
disburseme disburseme
nt (Loan nt (Loan
converted converted
to variable to variable
ROI)-Nil ROI)-Nil

Samman Mixed (Fixed for Nil Within 36 Within 36 months Nil Within 12 Within 12 months
1st 3 years + months of of 1st months of of 1st
Variable after 1st Disbursement -5% 1st Disbursement - 5%
completion of Disbursem of amount prepaid Disbursem of amount prepaid
3 years) ent -5% of + applicable taxes ent -5% of + applicable taxes
amount within 37 mths to amount Post 12 months of
prepaid + 60 mths of 1st disb prepaid + 1st disbursement -
applicable - 4%of amount applicable 1% of amount
taxes Post prepaid + taxes prepaid +
36 months applicable taxes Within 13 applicable taxes
of 1st Post 60 months of mths to 36
disburseme 1st disbursement - mths of 1st
nt (Loan 3%of amount disb - 1% of
converted prepaid + amount
to variable applicable taxes prepaid +
ROI)-Nil applicable
taxes Post
36 months
of 1st
disburseme
nt (Loan
converted
to variable
ROI)-Nil

Updated till: 11-09-2020

IIFL Home Finance Limited

Corporate Identity Number: U65993MH2006PLC166475
Corporate Office: Plot No.98, Udyog Vihar, Phase - IV, Gurgaon - 122015 (Haryana)
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate , Thane - 400604
Tel: (91-124) 475 4900 • https://www.iifl.com/contact-us/home-loan/raise-a-request • website: https://www.iifl.com/home-loans
 Interest Rate Reduction Facility
We provide option to our customers to reduce their applicable rate of interest on loan through our interest rate reduction facility. Every
customer can opt for the benefit of the scheme by paying an applicable fee and opt for either reduction of residual loan tenure or EMI.
Terms & conditions apply.
Kindly refer the process and grid below:

Customer can request for rate reduction/conversion through below modes:

a) Raise an online request by clicking here
b) Call our Customer Service no. at 18602673000
c) Visit nearest branch.

Interest Rate Reduction GRID

Normal Home Loan
Home Loans - Non Swaraj
Principal
Foreclosure Applicable
Outstanding
Yes No
Interest Rate Reduction Fee Interest Rate Reduction Fee
<=50 Lacs 50% of difference in New and Existing Rate of interest of Principal INR 5000
Outstanding or INR5000 (Whichever is Higher)
>=50 Lacs 50% of difference in New and Existing Rate of interest of Principal INR 5000
Outstanding or INR5000 (Whichever is Higher)

Swaraj
Months on Book Interest Rate Reduction Fee

>6 months and above INR 5000

Home Equity
Foreclosure Applicable
Property Type
Yes - Interest Rate Reduction Fee No - Interest Rate Reduction Fee

50%of difference in New and Existing Rate 25% of difference in New and Existing Rate
All types of Property of Interest of Principal Outstanding or Of Interest of Principal Outstanding or
5000/- (Whichever is Higher) 5000/- (Whichever is Higher

Samman
Months on Book Interest Rate Reduction Fee

>12 Months on Book 50% of difference in new and existing Rate of Interest or 5000/-

IIFL Home Finance Limited

Corporate Identity Number: U65993MH2006PLC166475
Corporate Office: Plot No.98, Udyog Vihar, Phase - IV, Gurgaon - 122015 (Haryana)
Registered Office: IIFL House, Sun Infotech Park, Road No. 16V Plot No. B-23, MIDC, Thane Industrial Area, Wagle Estate , Thane - 400604
Tel: (91-124) 475 4900 • https://www.iifl.com/contact-us/home-loan/raise-a-request • website: https://www.iifl.com/home-loans