Why choose SMHFC as your Developer Finance Partner:
- Loans available for development of RERA Registered Residential Projects
- Competitive Interest Rates
- Loan tenure upto 60 months
- Adequate moratorium period basis stage of construction and estimated completion date
- Tailor-made structure to ensure need based availability of funds during the tenure of construction work and synchronizing repayments with project receivables
- Easy repayment option through Escrow mechanism with structured repayment options
Products:
Construction Finance
This construction, sales and collection milestones linked disbursement product facilitates the completion of ongoing residential projects.
Inventory Funding
This product is for residential projects that are completed or nearing completion. It helps Developers with their working capital requirement and meet project costs at the last leg of their project completion.
Balance Transfer with / without Top Up
Developers looking for attractive lending terms and better commercials on their existing construction finance loans can transfer their loan balance.
To apply, please contact: [email protected]
Interest Rate, Fees & Charges:
SMHFC offers competitive rates on Developer Finance loans to eligible Developers.
Disclaimer: However, the final rate of interest will depend upon the loan amount, tenor, our evaluation of the real estate project vis-a-vis project cash flows and the Developer, as well as the prevailing market conditions and other risk parameters.
| S. No. |
Particulars |
Charges |
| I. |
Processing Fees / Charges |
Up to 2% of the loan amount |
| II. |
Application Fees / IMD Fees |
Up to Rs. 5,00,000/- |
| III. |
Cheque / ECS / NACH Dishonour charges (Note: Cheque / ECS / NACH Dishonour Charges as referred to above are not compensatory and / or to be construed as any form of consideration towards the act of dishonour and in no ways should the same be construed as fees recovered under this facility. It is abundantly clarified that SMFG Grihashakti does not tolerate dishonour of instruments and/or deposit of an invalid, fake or unworthy instrument issued towards meeting payment obligations under this facility and any Charges collected thereof are not intended to compound such acts of dishonour. Notwithstanding any Charges collected hereof SMFG Grihashakti reserves its right to invoke appropriate civil and criminal laws.) |
Rs. 500/- per instance |
| IV. |
CERSAI Charges (for each instance of an original filing and for modification) |
Rs. 110/- |
| V. |
Late Payment Charges (for payment defaults) |
Three percent (3%) per month of overdue EMI calculated on day to day basis; from the relevant due date until the date of actual payment; |
| VI. |
Penal Charges (for non-payment defaults) |
Two percent (2%) per annum on the outstanding Loan amount calculated on day to day basis, from the date of default / breach in adherence to the terms of this sanction letter, till the date of rectification / cure of such default / breach to the satisfaction of the Lender |
| VII |
Foreclosure Charges |
The prepayment charges will be 4% + applicable taxes for first 12 months and 2% + Taxes from 12 months onwards of the Facility prepaid as on date of prepayment and shall be levied in case of migration of the loan to another institution.
In case, prepayment is done from own sources prepayment charges will be 3% + applicable taxes for first 24 months and NIL from 24 months onwards of the Facility prepaid as on date of prepayment.
There will not be Prepayment charges for the repayment (fully or partially) of Facility through collection of sales proceeds from customers of the Project |
| VIII. |
Taxes & Levies |
All the charges indicated above or elsewhere in the Loan Agreement shall be exclusive of all taxes and statutory levies as may be applicable from time to time on same including without limitation to goods and services tax. |
Note: All the above charges are non - refundable
Disclaimer: Please note that loans are disbursed at the sole discretion of SMFG India Home Finance Company Limited (SMHFC). Final approval, loan terms and disbursal process will be subject to SMHFC’s policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.