MOST IMPORTANT TERMS AND CONDITIONS

Major Terms and Conditions of the loan agreed to between Applicant(s)/ Co-applicant(s) (hereinafter individually and/or collectively referred as "the Borrower”) and APAC HOUSING FINANCE PRIVATE LIMITED (hereinafter referred as "the Lender" or “Company”) are as under:

The loan amount, rate of interest, tenure etc. are based on various factors such as eligibility, repayment capacity, various risks, track record, cost and market value of the property etc. and hence shall vary for each individual loan and is based on internal policies of the Company. The sanction and disbursement of the Loan is at the sole discretion of the Company.

Loan amount Rs.
Purpose of loan
Rate of Interest (ROI) …….. % variable per annum; ROI is linked to RPLR, (the rate of interest announced by the Company as its Reference Rate). Current RPLR of the Company is ………. and your current spread is …….…., thus the effective rate of interest ………Notwithstanding the above, the ROI is subject to revision as per the terms finalised at the time of disbursement of the loan and as stated in the Loan Agreement.
Tenure ……….. months; subject to change due to change in Company RPLR from time to time as applicable with spread.

2.The following charges are applicable as on date and are subject to change from time to time as updated on the website www.apacfin.com. The charges applicable will be based on the prevailing charges at the time of the transaction; Applicable taxes shall be extra.

Mortgage Origination Fees [MOF] Fee to be paid along with the application form. The amount of Fee is Rs.5000 + applicable taxes. This is non-refundable.
Processing Fee Processing fee is applicable as per policy of the Company and subject to changes from time to time. Currently the Processing Fee is 2% of the Sanctioned Loan Amount + applicable taxes for Housing Loans and 2% of the Sanction Loan Amount + applicable taxes for Non-Housing Loans.

Processing Fee amount shall be collected after the loan is sanctioned. The Processing Fee is non-refundable after the loan is sanctioned by the Company.

Loan cancellation charges (after disbursement has been done by the Lender)
  • Processing Fees applicable as per sanction letter
  • 1% of Loan amount disbursed and applicable taxes
Prepayment Charges: Individual Borrowers (Applicant and Co-applicant/s) Floating Rate: Nil Fixed Rate: 2% of the prepaid amount in case of Home Loans and 4% in case of Non-Housing loans prepaid from other than own source of funds. In addition, applicable taxes will be levied. Semi Fixed Rate: Prepayment charges mentioned above under Fixed Rate would be applicable till the Fixed rate tenor and no prepayment charges thereafter.
Prepayment Charges: Non-Individual Borrowers (Applicant and/or Co-applicant/s) Floating Rate/Fixed Rate/Semi-Fixed Rate:
Nil for Home loans.
It is 4% + applicable taxes in case of Non-Housing loans.
Overdue charges/Default Interest on delayed payments 2% per month on the outstanding dues + applicable taxes
Cheque Bouncing charges Rs.750 + applicable taxes
Cheque Replacement/Swap Charges Rs.250 + applicable taxes
Demand Draft/Pay Order charges Rs.150 per lac or actual bank charges, whichever is higher
Conversion charges 1.5% of the loan outstanding or as announced by the Lender from time to time. In addition, applicable taxes will be levied. Please contact nearest branch for the latest rates.
Change of ECS/NACH mandate from one bank to another Rs.750 + applicable taxes
Recovery charges (Legal/Repossession & Incidental) As per actuals
Non-encumbrance certificate Rs 100 + applicable taxes
Document Retrieval charges Rs.750 + applicable taxes
Foreclosure statement charges Rs.1000 + applicable taxes
List of Documents held in custody Rs.500 + applicable taxes
Duplicate Statement/ Certificate Rs.250 + applicable taxes
Duplicate No Dues certificate Rs.250 + applicable taxes
For Issue of duplicate copy of agreement: Rs.500/- + applicable taxes
Custodian Fee for keeping property documents in closed loans beyond 1 month of closure Rs.500 per month + applicable taxes
Visit Charges for dues collection 1st visit Rs.250 and 2nd visit onwards Rs.500 + applicable taxes
CERSAI filing charges as per rules of CERSAI Rs.50 + applicable taxes for Loans upto Rs.5.00 lacs (original filing and for any modification) Rs.100 + applicable taxes for Loans above Rs.5.00 lacs (original filing and for any modification) Rs.250 + applicable taxes for any satisfaction of the original filingThe above may vary from time to time, depending on any changes that CERSAI may introduce. At any point in time, the prevailing charges levied by CERSAI would apply.
Conversion fees from Fixed to Float Rate Fee: 1.50% of Loan amount + applicable taxes
Late PDC/ECS Deposition charges Rs.250/- every month + applicable taxes
Other charges incurred by the Lender: As per Sanction Letter and MITC

Security of the loan would be the first equitable/registered mortgage of the Property that is being financed and/or any other collateral security, unless otherwise specially approved by the Company. Collateral or interim security could be Fixed Deposits and/or Life Insurance policies and/or Guarantee from sound & insolvent individuals and/or pledge of shares and/or any other such investment that may be acceptable to the Lender.

Security for the Loan
Property to be mortgaged Address of the property:
Name of guarantor/s (if any)
Other security/ies (if any)

4.The Property that is being financed will remain insured for the entire Tenor of the Loan at the Borrower’s expense, and shall be assigned in the favour of the Company, as detailed below:

Property Insurance Tenure
Name of insurance company
Address of the property insured
Purpose and features of insurance (For the property being mortgaged) The Borrower shall, for so long as any portion of his dues is outstanding/payable to the Lender, fully insure and keep the Property so insured, at his/her/its/their own costs in the joint names of the Borrowers and the Lender, with the name of the Lender recorded as ‘the Beneficiary’ and such insurance for the Property shall be standard comprehensive package policies covering all comprehensive risks, including but not limited to earthquake, riot, civil commotion, floods and such additional risks/liability to which the property is normally exposed. In the event of any failure by the Borrower to obtain such insurance policy and/or to furnish proof of the same to the Lender, the Lender may (but shall not be bound to) insure the property at the Borrower’s cost. If the Lender pays the insurance premium, or any other monies, for/towards the insurance of the property, the Borrower shall reimburse all such sums paid by the Lender.
Sum insured Rs.
Credit Shield Critical Illness
Name of insurance company ICICI Prudential Life Insurance Company Ltd.
Name and address of the persons Insured
Purpose and features of insurance
(Applies to Life Insurance of the borrower(s) on outstanding loan amount)
The Borrower who has opted for policy may have to undergo a medical test to be organized and facilitated by the insurance provider as applicable. Moreover, The decision on Insurance underwriting in all cases rests exclusively with the insurance provider. Any claim thereof will be at the behest of the Borrower and the insurance provider.
Sum insured for Credit Shield Rs
Tenure for Credit Shield (Yrs)
Sum insured for Critical Illness
Tenure for Critical Illness (Yrs)
Health Insurance Hospi Cash
Name of insurance company
Name and address of the persons Insured
Purpose and features of insurance The Borrower who has opted for policy may have to undergo a medical test to be organized and facilitated by the insurance provider as applicable. Moreover, The decision on Insurance underwriting in all cases rests exclusively with the insurance provider. Any claim thereof will be at the behest of the Borrower and the insurance provider.
Sum insured Rs

Note: All the terms of Life and General Insurance have been read and understood by me. The Lender may act only as a facilitator for insurance and shall have no liability for any claim under the policies.

5.The disbursement of the Loan is subject to legal & technical verification of the property and after the Borrower has complied with the requirement of creation of security interest in such manner as required by the Lender and after the Borrower has paid/invested his own contribution (margin money) in full. For under construction property/Extension/Repair/Renovation, the sanctioned amount shall be released in stages depending upon the progress in construction and after ensuring investment of margin money/ construction as per approved Plan and estimates.

Condition for Disbursement
Creation of security (Security has to be created of the property being financed) The principal sum of the loan, interest and other charges and all other dues shall be secured by creation of the Security Interest as may be considered appropriate by the Lender having the right to decide the place, timing and type of the security including the manner and form of its creation and/or additional security it may require and the Borrower shall create the security accordingly for payment of all the dues of the Borrower. The Security Documents evidencing the Security Interest may be in such manner and form as the Lender may require.
Submission of approved plans Approved sanction plan of the property provided as security has to be submitted.
Stages of construction as on date Ready Built/ Under construction/ Construction to be commenced/ Vacant Plot.
Statutory approvals and other
required consent/ permissions
The Borrower shall submit to the Lender all evidence to support that all statutory approvals, consents, permissions etc. that are required for the property for availing the loan and for creation security interest, have been obtained.
Other conditions for disbursement The Lender shall not disburse the loan to the Borrower unless the conditions mentioned in the Loan sanction letter and Loan Agreement are complied with, to the satisfaction and sole discretion of the Lender.

The Loan is repaid by way of Equated Monthly Instalments (EMI), which comprises of both principal and interest component. Repayment commences from the month following the month in which final disbursement of the loan is availed. Pending Final disbursement, simple interest is applicable on the loan disbursed. This interest on the amount disbursed is called Pre-EMI. Pre-EMI interest is payable every from date of each disbursement upto date of commencement of EMI. Note: No prepayment can be made during the first 6 months from the date of execution of loan agreement or till the loan is fully disbursed, whichever is later.

Repayment of Loan and Interest
EMI amount Rs. As per terms of Sanction Letter and Loan Agreement.
Total number of instalments As per terms of Sanction Letter and Loan Agreement.
Repayment Periodicity As per terms of Sanction Letter and Loan Agreement.
Instalment due dates As per terms of Sanction Letter and Loan Agreement.
Interest rate reset As per terms of Sanction Letter and Loan Agreement.

Repayment of Loan & Interest Brief procedure for Recovery of overdue: On occurrence of any event of default as mentioned in the Loan Agreement (“Event of Default”), all outstanding amounts owned by the Borrower to the Lender shall become payable forthwith and the Lender reserves the right to undertake such necessary processes/measures to enforce its rights under the Loan Agreement including but not limited to charging Overdue Charges for the delayed payment, recovery of over dues by enforcing the Security in accordance with the remedy available under the Law. The actual procedure shall be determined by the Lender depending upon the circumstances of each case.

You may contact us by visiting our offices listed on our website homeloan.apacfin.com or all us or write to us at under mentioned details

Customer Service
Visiting hours 9:30 AM – 5.30 PM; Monday – Friday
Contact person Manager – Customer Service
Contact number 022 – 67499759
E-mail ID complaint.apachf@apacfin.com
Timeline for
Loan account statement 7 working days
Photocopy of title documents 30 working days
Return of original documents on closure/Transfer of loan 30 working days

In the unlikely event that you are not satisfied with our services, you can register your grievance for redressal of concerns.

First Level
Name & Designation Branch Manager
E-mail ID to lodge the complaint Virar: bmvirar.apachf@apacfin.com
Kalyan: bmkalyan.apachf@apacfin.com
Contact # to lodge the complaint Virar: +91 7700900286
Kalyan:+91 7738890887
Resolution time Resolution time 7 working days
Second Level
Name & Designation Grievance Redressal Officer
E-mail ID to lodge the complaint gro.apachf@apacfin.com
Contact # to lodge the complaint 022 – 67499759
Resolution time 7 working days
Third Level
Name & Designation Chief Executive Officer
E-mail ID to lodge the complaint ceo.apachf@apacfin.com
Contact # to lodge the complaint 022 – 67499759
Resolution time 15 working days

In case the complainant is still dissatisfied with the response received/or where no response is received, the Complainant may approach the following contact details:

Complaint Redressal Cell,
Department of Regulation & Supervision,
National Housing Bank,
4th Floor, Core-5A, India Habitat Centre,
Lodhi Road, New Delhi-110003
or E-mail at crcell@nhb.org.in



Disclosure:

The Company is authorized to disclose from time to time any information relating to the loan to any Credit Bureau (existing or future) approved by Govt. of India or any other authority as may be required from time to time without any notice to the customer.

It is hereby agreed that for detailed terms and conditions of the loan, the parties hereto shall refer to and rely upon the Loan Agreement and other security documents executed/to be executed by them. The details contained in this document may be subject to change as per company policies and in line with the terms contained in the Loan Agreement.

The above terms and conditions have been read by the borrower/s/read over to the borrower by Mr/ Ms. ………………………………………………………………………………………………………of the Company in Borrower(s) vernacular language and have been understood by the Borrower/s

Signature or thumb impression of the Borrower/(s)/Guarantor(s)

Signature & Name of the authorized person
APAC HOUSING FINANCE PVT LIMITED