Poonawalla Housing Finance Housing Loan
Regulatory Disclosure - Important Terms and Conditions

Regulatory Disclosure

Most Important Terms and Conditions (MITC) (for Individual Housing Loan)

Most Important Terms and Conditions (MITC)

Terms and Conditions

Major terms and conditions of the HL under Loan Account no. _________________ sanctioned by POONAWALLA HOUSING FINANCE LIMITED (formerly Magma Housing Finance Limited) (hereinafter referred to as 'PHFL') to Mr./ Ms. __________________ and other co-borrowers (hereinafter referred to as 'the borrower') are as under:

1. Loan details

  • Loan Amount sanctioned: Rs. ______________/-
  • Purpose of the Loan: OTHERS
  • Rate of interest (RoI):
  1. Applicable type of RoI : Floating
  2. on floating rate basis, current RoI: ______+ ________ = ____% per annum
  • Tenure and EMI:

2. Fee and other charges

  • As mentioned in Schedule of Charges enclosed with the letter.

3. Fee and other charges

PHFL shall provide information on interest rates, common fees and charges through any one or more of the following media -

  1. Putting up notices at PHFL’s branches;
  2. Through telephone or helplines;
  3. On PHFL’s Website;
  4. Through designated staff / helpdesk.

Once rate of interest, fee and charges are notified through any of above media, the customer shall be deemed to have noticed changes in interest rates, common fees and charges.

4. Security for the loan

The following property has been mortgaged as security for loan:

  1. Property address:
  2. Pincode:
  3. Locality:
  4. City:
  5. State:
  6. Landmark:
  7. Guarantor Details:
  8. Any Other Security:

5. Date of Annual Statement: Annually on ____________

6. Insurance of the property/Borrowers
PHFL has explained terms and conditions of insurance to the borrower to his/ her satisfaction if the borrower has shown intent to avail the insurance cover.

7. Conditions for disbursement of the loan: As per terms and conditions mentioned in the Sanction Letter and the Loan Agreement.

8. Repayment of the Loan & Interest: As per terms and conditions mentioned in the Sanction Letter and the Loan Agreement.

9. Procedure for recovery of overdues
In case of non-payment of dues by the customer, PHFL shall have right to initiate legal action against the borrower in accordance with provisions of the Loan Agreement and applicable laws. Before initiating any such legal action, PHFL shall send notice to the applicant/borrower as required under applicable laws.

10. Moratorium or Subsidy if any: As per sanction terms

11. Date of Reset of Interest: As when announced by POONAWALLA HOUSING FINANCE LIMITED.

12. Customer Service:

Office Visiting Hours - Weekdays and First, Third & Fifth (if any) Saturday of the Month From 10:00 AM to 6:00 PM for all Months.

Contact Person - Customer Service Desk

Procedure to retrieve - Customer need to call on help line 1800 266 3204 or can write us on customercare@poonawallahousing.com

Turn Around Time (TAT) to retrieve SOA - 10 days on mail & 12 days on mailing address.

Turn Around Time (TAT) to retrieve Copy of documents - 15 days on mail & 17 days on mailing address.

Turn Around Time (TAT) to retrieve original documents: maximum 15 days post loan closure update & will be handed over to Customer at Branch post confirmation call.

13. Customer Service/ Grievance Redressal

In case of any query/ grievance, you will have option to reach the Company's representatives as per the enclosed Query Resolution Process.

It is hereby agreed that for detail terms and conditions of the HL, the parties hereto shall refer to and rely on the loan agreement and other security documents executed/ to be executed by them.

The above terms and conditions have been read by the borrowers(s)/ read over to the borrower by Mr./ Ms. _______________ of PHFL and have been understood by the borrower(s).

I/ we acknowledge that duplicate copy of MITC has been provided to me/ us.

Applicant/Co-applicant___Name___Signature___Date

Tariff Sheet - Schedule of Charges
Particulars Applicable Amount
Login Fee (Non-Refundable) Not to exceed Rs.10,000 /-
Processing Fee (Non-Refundable) Upto 0.50% of sanctioned loan amount
Loan Sourcing/ Loan Documentation/ Technical/ Valuation/Legal/ CERSAI/ CKYC/ NeSL Charges (Non-Refundable) Upto 2% of Sanctioned loan amount
Stamp duty, registration charges and other related charges payable on the Loan Agreement, security creation document(s) etc To be borne by the applicant as per the prevalent stamp duty rates applicable in therespective State(s).
Charges on cancellation of loan/ rebooking Rs. 5,000/-
Payment Instrument Bounce Charges (Cheque/ACH or any other mandates) Rs. 600/- per instance
Penal Interest for delay in payment of all outstandingdues 2.50% p.m.
Interest Rate Switching Fee (Applicable on outstanding principal amount) 0.50%
Payment instrument Swap fee for changing repayment instrument / NACH Rs. 500/- per swap
Statement of Accounts Rs. 500/- for each statement
(Duplicate copy of Interest Statement/ Statement ofAccounts/ NOC/ Foreclosure Letter/ Welcome Letter/ Amortization Schedule/ Loan Agreement) apart from Statement shared annually or Loan Agreement Copy provided with Welcome letter at the time of Loan Disbursement Rs. 250/- for soft copy shared through Email or Digital Link and Rs. 550/- on hardcopy respectively.
List of Document Charges Rs. 500 /-
Retrieval of copy of documents Rs. 250 /- for one document, Rs. 500 /- for 2 to 4 documents, Rs. 750 /- for more than 4 documents
Part payment charges & Pre-payment/ ForeclosureCharges (Applicable onoutstanding principalamount at the time of closure) 4% for loans under Fixed Interest Rate Cases or under Fixed InterestRate period for loans under Combined Interest Rate and paymentis not out of borrower's own source.
OR
4% for loans on floating interest rate for loans extended for business purpose.
OR
As per prevailing Tariff Sheet notified under Company Policy with compliance to Regulatory Notifications.
Foreclosure Letter Charges Rs. 1,500/-
Collection Charges Rs. 200/- per visit for collection of dues from the customer residence/ office
Differential Interest (any interest accrued due to gap in applicable rate of interest and existing rateof interest of any loan account) Will be refunded or charged at any time suitable to customer or at thetime of closure of the loan.
Any other incidentalcharges incurred byPoonawalla Housing Finance during the course of the loan As assigned/ allocated to the loan account
Over the Counter Service charges - Repayment or Others Matters As applicable at the time of services

Please note:

  1. Floating Rate of Interest (ROI) chargeable on loan is linked to benchmark Floating Reference Rate (FRR). Rate of Interest on a loan shall be payable as per the corresponding revision in benchmark Floating Reference Rate (FRR).
  2. All applicable taxes, duties and levies would be additionally levied on the above charges as per the applicable law
  3. Above Tariff Schedule is not exhaustive, and the charges presently mentioned are at the rates currently prevalent and can be changed from time to time, at the sole and absolute discretion of the Company in consonance with the applicable laws and such changes shall be final and binding on all its customers. For latest update on applicable fee/ charges or change in Floating Reference Rate (FRR) please refer to our website www.poonawallahousing.com or visit our nearest branch as same is displayed on our notice board. We will also be sending regular update on your Mobile No. through SMS facility to update you on recent change; in case of change in your Mobile No. please intimate to us to update the relevant information in our records.
  4. For any further clarifications, please feel free to contact us at our toll-free customer care helpline number 1800 266 3204. Alternatively, you can write to us at customercare@poonawallahousing.com
  5. You can also make payment online, through the Quick pay option at our website www.poonawallahousing.com

Customer Query Resolution Process

Call Us

For any of your queries or service requirements, please call us at 1800 266 3204. We would be eager to serve you better. Our customer care service is available between 9:00 am and 7:00 pm from Monday to Saturday.

You may also write to us at the address:

Manager - Customer Services,
POONAWALLA HOUSING FINANCE LIMITED
Corporate Office: 602, 6th floor, Zero One IT Park, Sr. No. 79/1, Ghorpadi, Mundhwa Road, Pune - 411036

You have option e-mailing us at:

customercare@poonawallahousing.com (Please mention your Loan Account Number and Contact Number in the subject line).

We will endeavor to resolve your query within 7 working days of receiving your letter or within 48 hrs of receiving your email. If we are not able to resolve your query within 7 working days, then we would explain you the reason why the Company would need more time to respond.

Escalation 1:

In case you are not satisfied with the response from our Customer Care/Helpline, you can write to Head-Customer Service at head.customercare@poonawallahousing.com (Please mention your Loan Account Number and Contact Number in the subject line).

Escalation 2:

If you are still not satisfied, you can write to the Nodal Officer at nodalofficer@poonawallahousing.com

Escalation to National Housing Bank (NHB):

In case you are dissatisfied with the response received, you may approach National Housing Bank at following address:

National Housing Bank, Department of Regulation and Supervision (Complaint Redressal Cell), 4th Floor, Core-5A, India Habitat Centre, Lodhi Road, New Delhi - 110003.

Such complaint may also be registered online with NHB at https://grids.nhbonline.org.in

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