APPLICABILITY

These Terms & Conditions are applicable to all marketing and promotional material (Content) issued by GHF in any form and media, physical or digital or any other platform. This shall be considered a General Disclaimer for all the Content.

Please read the Terms and Conditions (“Terms”) provided below carefully as they will govern conduct, rights, responsibility, and obligations of a User with regard to website of Godrej Housing Finance Limited (“GHF”).

INTRODUCTION

Godrej Housing Finance Limited is a Non-Banking Financial Company - Housing Finance Company (NBFC-HFC) registered with Reserve Bank of India (RBI) engaged in the business of providing finance solutions to the eligible applicants. For acquainting prospective borrowers about its brand, its products, and offerings GHF has issued various types and kinds of material on its website.

RBI DISCLAIMER

“Godrej Housing Finance Limited” is having a valid Certificate of Registration (Without permission to accept Public Deposits) dated 26th October 2020 issued by the Reserve Bank of India under Section 29 A of the National Housing Bank Act, 1987. However, the Reserve Bank of India/National Housing Bank does not accept any responsibility or guarantee about the present position as to the financial soundness of the Company or for the correctness of any statements or representations made or opinions expressed by the Company and for repayment of deposits/discharge of liabilities by GHF.

DEFINITIONS

Content means and includes any material, information, advisory, calculators, FAQs, data or graphs, money market movements, interactive media, marketing material, news items, texts, graphics, links etc., whether belonging to GHF or to its associates, partners and other group entities, which is available either directly or through marketing or Promotional Material of GHF, displayed, hosted on the Website or on any other website or available in print / digital, audio, video or any other media anywhere.

Consumer/User refers to the person (s) who is / are viewing/exposed to the Content through any media form or manner. In the document all reference to “You”, “Us”, “Me”, “We” and “I” shall be to Consumer/User.

Website shall refer to any website on which Content is being displayed/hosted.

DECLARATION & USE OF CONTENT

• I have willingly and with my consent agreed to visit this Website.

• I / we understand that GHF uses a third party offering for Website and GHF does not represent them or assures their service or any performance standard and in case of any dispute we would have to approach them with no recourse to GHF

• I / we understand that the financial products / services provided through Website on acceptance will lead creation of financial liability towards GHF.

• I/We agree and understand that GHF may collect information provided by me/ us during visit to Website and I/ We shall not dispute this retention.

• I/We agree and declare that we shall keep all details, documents and media or any other information related to the Website as confidential and will take prior permission from GHF before sharing it with any third party

• The user acknowledges that in order to fully access the Website he would require an active internet connection which can be Wi-Fi or the Local Area Network (LAN) connection. GHF does not assume any responsibility/liability if the User is not able to go through the Website due to absence/ insufficiency of the required internet connection.

• GHF will not be concerned with any dispute between the user and the Internet Service Provider and/or any third party providing the internet connection or any other services responsible to run the website and will not be a party to same.

• The User shall be responsible in obtaining and maintaining all computer hardware and other equipment needed for access to this Website.

DECLARATION FOR MARKETING MATERIAL

• I / we understand that hosting of any residential / non-residential Project details / any other product offering or branding in Website is not endorsement of it by GHF and its responsibility of the User to ascertain its details and its selection is on risk and judgement of User.

• Content shall not be regarded as an offer, solicitation, invitation, advice or recommendation to buy/sell financial products of GHF or any of its group entities.

• Content is designed for informative purposes only. User is advised to go through Finance Documents before taking any product or service from GHF.

• Decision to offer any Product to Consumer shall be solely of GHF.

• Periodicity of any offer shall be decided by the GHF and any offer declared may be closed without further notice.

• The User acknowledges that all rates, charges and fees quoted / stated for various financial products and schemes and interest rates cited as examples of rates which may be in effect from time to time are indicative rates only and are subject to change at any time at the sole discretion of GHF and its group entities as the case may be, and applicable Indian laws. These charges, fees and rates may change depending upon the assessment made by GHF in individual cases upon receiving necessary information and documents.

• You are advised to verify any information / details regarding any project or site including RERA details from the official sources.

• GHF shall be liable and responsible only for the Content which it has issued in its name and in event, the logo, branding name or any other determinative or identifier related to GHF is used by any other entity, with or without GHF permission, for any purpose including for offering any loan through any partnership or otherwise, the Consumer is advised to review the veracity of claim before making any decision. No liability and responsibility shall accrue to GHF.

• Any Content which conflicts with any provision of law or regulation shall be considered to be null and void ab initio

• Adjectives are to be understood in a broader term and not literally. Easy to understand language has been used for delivery of messages and difficult / industry parlance has been avoided. In case of doubt, please contact branch or contact centre

INTELLECTUAL PROPERTY

The Content belongs to GHF and cannot be used by Consumer in any manner without prior express written permission of GHF. Hosting of Content on a public forum does not dilute the ownership of GHF.

NO REPRESENTATION OR WARRANTY 

No information sent to any User through the Content shall constitute any representation, warranty by GHF regarding creditworthiness, financial performance or prospects, solvency, of any User or any other legal entity.

GHF may at any time update, remove, replace, edit, alter any information in whole or in part forming part of Content & shall not be held responsible for any matters arising out of said.

In the event, the Website contains links to other Websites of affiliate or group company of GHF, the content, products, services offered on such linked websites, or any quality of the products/services are not endorsed, verified, or monitored by GHF.

DAMAGES & LIMITATION OF LIABILITY

In no event shall GHF, its Directors, employees or its affiliates be liable for any direct, indirect punitive, incidental, special, consequential damages of any nature whatsoever arising or connected with use or performance of Website including but not limited to any loss, damage, expense arising from any defect, error, omission, interruption, fault, mistake or inaccuracy.

AMENDMENT

GHF reserves the right to change the information provided on or via Content, at any time and without notice. GHF shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability on account of such change in the information on this Content.

GOVERNING LAW

The Website and terms and conditions shall be governed by and construed in accordance with applicable laws of India. All disputes arising out of or in connection with these terms and conditions shall be submitted to exclusive jurisdiction of Courts of Mumbai.

Please read the Terms and Conditions provided below carefully as they will govern the “Instant Sanction” & “Digital Journey” which an User will have with Godrej Housing Finance Limited (“GHF”)

DEFINITIONS

Acceptance is acceptance to any type of terms & conditions will be usage of the Digital Sanction. For application form and sanction letter or offering of any kind which is made to the User by the Company through any of the mode (a) OTP, (b) email acceptance, (c)e-sign or (d) any other mode introduced by company.

Co-Applicant is an applicant whose name comes post Main Applicant in the order of applicants. However, the order of name does not impact either the liability or responsibility of the User. A co-applicant will act as an agent of main applicant. There may be multiple co-applicants. Main applicant and co-applicants are together referred to as applicants.

Content means and includes any material, information, advisory, calculators, FAQs, data, or graphs, money market movements, interactive media, marketing material, news items, texts, graphics, links etc, whether or not belonging to GHF, which is available hosted, displayed either directly or through a link or pathway in Website.

Digital Journey is a process hosted on digital media,which may or may not have support of (a) in-person GHF employee /representative, (b) tele-support by GHF employee / representative or (c)co-browsing chat bot, through which GHF allows User to participate inits Risk Qualification Process wherein he may be offered to opt for different loan products / other products by GHF subject to User qualifying to the internal policies of GHF. In the event, User qualifies, a Sanction Letter shall be shared with them, however, acceptance of Sanction Letter is the sole decision of User.

Digital Sanction: Digital Journey together with Instant Sanction is referred to as Digital Sanction.

E-Sign is an IT enabled facility provided with the help of independent Telecom Companies which is one of the facilities used bythe User to give their acceptance to the Company.

Godrej Housing Finance Limited is a Housing Finance Company registered with Reserve Bank of India as a Non-Banking Finance Company – Housing Finance Company (NBFC-HFC). It may be referred to as either GHF or Company interchangeably.

Instant Sanction is a process which may or may not have support of (a) in-person GHF employee / representative, (b) tele-supportby GHF employee / representative or (c) co-browsing chat bot, wherein GHF will convey a to the User sanctioned amount which will be anin-principle non-binding sanction on either party basis the limited information shared by the customer and qualify him to participate further in Digital Journey / normal loan process leading to full appraisal of his credit eligibility.

Main Applicant is the applicant whose name comes first in the order of applicants. However, the order of name does not impact either the liability or responsibility of the User. A main applicant will act as an agent of co-applicant. Main applicant and co-applicants are together referred to as applicants.

OTP or One Time Password is a SMS based confirmation facility provided with the help of independent Telecom Companies whichis one of the facilities used by the User to give their acceptance to the Company.

Risk Qualification Process is the internal credit process of the company which is proprietary to the Company which is to be decided solely by the company.

Sanction Letter is a document containing terms and conditions specific to the grant of loan amount to the User.

User refers to the person (s) who is / are submitting their personal information on own consent with GHF for the purpose of participating in Instant Sanction & Digital Journey and who shall be bound by the Terms and Conditions mentioned herein. The applicants working either individually or together for going through Instant Sanction or Digital Journey will be referred collectively as User. In the document all reference to “You”, “Us”, “Me”, “We” and “I” shall be to User.

INTRODUCTION

This is a binding arrangement between you, the user, and GHF, establishing the terms and conditions under which the Digital Sanction may be undertaken by the User. By accessing, through any means and media this Digital Sanction, you agree to be bound irrevocably by these terms and conditions. In the event of any conflict between the terms and conditions of specific products or services and terms and conditions of Digital Sanction, the conditions specific to such products or services shall prevail.

USER DECLARATION

I declare that I having willingly and with my consent agreed to be part of the “Digital Experience” and that I will share all the particulars and information as is required in this Digital Experience in truthful,accurate and complete manner and understand that they shall form the basis of any decision of the Company to consider me for grant of any loan / credit facility / other offering which GHF may decide to grant me.

I/We expressly authorise GHF or any of its group entities / authorised agents & representatives to carry out the all requisite checks by such processes as may be permissible under law for considering my application for loan including but not limited to

• KYC checks and / or KYC processes such as Video KYC, Aadhar offline verification or any other approved KYC mechanism,

• Obtaining credit history from Credit Information Companies,

• Obtaining / conducting credit verification checks,

• Accessing my Bank records,

• Verifying my income and expenses

• Verifying my contact details

• Employment verification,

• Accessing and procuring data from databases maintained by statutory or other authorities constituted by law

• Authentication / verification of documents submitted by me or which comes into possession of company during Risk Qualification Processor

• Any other details submitted during the journey, and

• Any other check which the GHF may deem fit and necessary

I /we understand that hosting of any Content/residential/non-residential project details/any other product offering or branding on Website is not endorsement of it by GHF and its responsibility of the User to ascertain its details and its selection is on risk and judgement of User.

I / we understand that we may have to use any third party offering during this Digital Sanction process and GHF does not represent them or assures their service or any performance standard and in case of any dispute we would have to approach them with no recourse to GHF.

I / we understand that the financial products / services provided through Digital Sanction on acceptance will lead creation of financial liability towards GHF.

I/We agree and understand that GHF reserves its right to retain the documents / information provided by me/ us even in case I / we do not qualify under the Risk Qualification Process and I/ We shall not dispute this retention.

I/We agree and declare that we shall keep all details, documents and media or any other information related to the Digital Sanction processas confidential and will take prior permission from GHF before sharing it with any third party.

The user acknowledges that in order to fully access the Digital Sanction he would require an active internet connection which can be Wi-Fi or the Local Area Network (LAN) connection. GHF does not assume any responsibility/liability if the User is not able to go through the Digital Sanction due to absence/ insufficiency of the required internet connection.

GHF will not be concerned with any dispute between the user and the Internet Service Provider and/or any third party providing the internet connection or any other services responsible to run the website and will not be a party to same.

The User acknowledges that all rates, charges and fees quoted / stated for various financial products and schemes and interest rates cited as examples of rates which may be in effect from time to time are indicative rates only and are subject to change at any time at the sole discretion of GHF and its group entities as the case may be, and applicable Indian laws. These charges, fees and rates may change depending upon the assessment made by GHF in individual cases upon receiving necessary information and documents.

The user shall be responsible in obtaining and maintaining all computer hardware and other equipment needed for access to and use this Digital Sanction.

I / We agree that the Digital Sanction shall be governed by the rules, guidelines, directives etc. issued by the Reserve Bank of India (RBI) or National Housing Bank (NHB) or any other competent authority.

USE OF INFORMATION AND MATERIALS

You are advised to exercise due caution and/or seek independent advice before availing any facility or entering into any financial obligation based on the Content you will come across in Digital Sanction. The Content which you will receive in Digital Sanction or other terms are provided on an “as is”, “as available” basis and are protected by copyright. You cannot distribute the Content to others without the express written consent of GHF. You cannot copy, download, publish, distribute or reproduce any of the Content which you will receive in Digital Sanction in any form without prior permission of GHF.

The Content which you will receive in Digital Sanction should not be regarded as an offer, solicitation, invitation, advice or recommendation to buy or sell investments, securities or any other instrument or financial products / schemes of GHF, or any of its group entities. Use of the products or services described in Digital Sanction may not be permitted in some countries and if in doubt, you should check with your local regulator or authority before requesting further information on such products/ services. Products and Services are available only at the discretion of GHF and its group entities, subject to the individual contractual terms and conditions of products and services on which they are offered and such products and services may be withdrawn or amended at any time without notice. The full range of products or services may not be available in all locations.

The user acknowledges and declares that Third parties assistance, by both User and GHF, may be required for using the Digital Sanction and GHF does not provide any assurance or warranty for the standard or continuance of their service.

NO REPRESENTATION OR WARRANTY

No information sent to any user through this Digital Sanction shall constitute any representation or warranty by GHF regarding the credit-worthiness, financial performance or prospects, solvency, or viability of any company or other legal entity or the business carried on by such entity.

All information in this website is being provided under the condition and understanding that the same is not being interpreted or relied on as legal, accounting, tax, financial, investment or other professional advice, or as advice on specific facts or matters. GHF may at any time (without being obliged to do so) update, edit, alter and or remove any information in whole or in part that may be available on this Digital Sanction process and shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability. Nothing contained herein is to be construed as a recommendation to use any product or process, and GHF makes no representation or warranty, express or implied that, the use thereof will not infringe any patent, or otherwise. The User is expected to keep abreast of any changes made in this website and the information available on it on a regular basis and GHF and its group entities undertake no responsibility about advising the user/clients about any such changes.

GHF makes no warranties as to the confidentiality or security of the information or messages whether personal or otherwise received through Digital Sanction unless otherwise specified expressly and bound through applicable law.

Though GHF will endeavour to ensure that information contained on this Digital Sanction Process is obtained from sources which, it considers, are reliable, GHF and its subsidiaries do not warrant such information’s completeness or accuracy.

Though reasonable efforts are maintained by GHF to ensure that Digital Sanction process is free from all viruses no representation is being made that it is free from all defects and User is accessing it at his own risk.

LIMITATION OF LIABILITY

GHF, its directors and employees accept no liability and will not be liable for any loss or damage arising directly or indirectly (including special, incidental or consequential, punitive, or exemplary loss, damage or expenses) from your use of this Digital Sanction process, howsoever arising, and including any loss, damage or expense arising from, but not limited to, any defect, error, omission, interruption, imperfection, fault, mistake or inaccuracy, its Contents or associated services, or due to any inaccessibility of this Digital Sanction process or any part thereof or any contents or associated services even if the Users are advised of the possibility of such damages, losses or expenses.

ACCEPTANCE

As part of Digital Sanction Process the user may be asked to sign the documents such as Application form, Sanction letter etc with the aid of OTP, E-sign facility, email acceptance or any other which will lead to acceptance of the terms and is equal to the acceptance of documents in written form. Users may be asked to input their aadhar number for e-sign and share OTP for e-sign. The company does not store the AADHAR number or OTP. A copy of the signed document will be shared with the User for his record.

INTELLECTUAL PROPERTY RIGHTS

All rights relating to this Digital Sanction process as well as its functionalities are the exclusive property of Godrej Housing Finance Limited (particularly including but not limited to copyrights, trademarks, source code, patents as well as any other intellectual property right). All the information provided on or via this Digital Sanction process (including all texts, graphics, design or logos) shall be the intellectual property of GHF and/ or its group entities. You agree not to copy, forward, download or share content without obtaining the necessary rights or permissions to do so. You also agree not to abuse the use of this Digital Sanction Process.

In the event any content on the Digital Sanction process or any intellectual property of GHF are copied / used by the user for any profit or non-profit venture then the User shall be liable to pay for damages as set out by GHF.

LINKED WEBSITES

This Digital Sanction Process may contain links to other websites of affiliate companies or group entities of GHF. This Digital Sanction Process may also contains links to external websites, having further linked websites, controlled or offered by third parties (Non-Affiliates of GHF), in order to help you find relevant websites, services and/or products which may be of interest to you, quickly and easily. The contents displayed or products / services offered on such linked websites or any quality of the products/ services are not endorsed, verified or monitored by GHF. GHF is also not responsible for the owners or operators of such external links or websites or for any products or services they supply or for the contents of their websites and do not give or enter into any conditions, warranties, express or implied; or other terms or representations in relation to any of these or accept any liability in relation to any of these (including any liability arising out of any claim that the content of any external websites to which this website includes a link infringes the intellectual property rights of any third party).

RBI DISCLAIMER

“Godrej Housing Finance Limited (“GHF”) is having a valid Certificate of Registration (Without Permission to accept Public Deposits) dated …………… issued by the Reserve Bank of India under Section 29A of the National Housing Bank Act, 1987. However, the Reserve Bank of India/ National Housing Bank does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits / discharge of the liabilities by GHF”.

GOVERNING LAW

This website and the terms and conditions shall be governed by and construed in accordance with all applicable laws of India, unless stated otherwise. All disputes arising out of or in connection with these terms and conditions or use of this website shall be submitted to the exclusive jurisdiction of the courts of Mumbai. The Laws of India shall apply.

LEGAL PROCEEDINGS

You confirm that you have/had no insolvency proceedings against you nor have you ever been adjudicated insolvent by any court or other authority.

AMENDMENTS

GHF reserves the right to change the information provided on or via this Digital Sanction Process, including these terms and conditions or to charge for its services, at any time and without notice. It is recommended that you periodically review the information provided on or via this Digital Sanction Process, including these terms and conditions, periodically for changes. GHF shall not be held responsible for all or any actions that may subsequently result in any loss, damage and or liability on account of such change in the information on this website.

SUSPENSION AND CANCELLATION

GHF can at any time, without the need to give a reason, notice or compensation, suspend your ability to use this Digital Sanction process. The suspension or cancellation of the licence to use this Digital Sanction process will mean that you will no longer have any access to your data, without you having any recourse against GHF or any of its subsidiaries or its affiliates.

ACCURACY AND CORRECTNESS OF INFORMATION

You confirm that any information provided by you or any details shared for the Digital Sanction process are correct and you undertake to pass on any modifications to GHF. You shall indemnify and hold GHF harmless against any loss, damage or costs suffered / incurred by GHF as a result erroneous information supplied by you or your authorized Users. Specifically, you are responsible for the confidentiality of any codes and passwords allowing you to use this Digital Sanction process, and access to your information as well as this use and this access by any third party, whether or not they are authorised by you.

COMMUNICATION

You agree that GHF or its group entities or their employees or agents may share all information and details as provided by you in your application in relation to your existing loans and/ or repayment history to any third party including but not limited to its group companies, service providers, banks, financial institutions, credit bureaus, telecommunication companies, statutory bodies etc. for customer verification, personalisation of products and services, credit rating, data enrichment, marketing or promotion of the products or services of Godrej Housing Finance Limited or its group entities or of any other service provider.

You agree that you consent to receiving any other information through telephone / e-mail / SMS / WhatsApp or any other electronic / digital medium for marketing purposes from any GHF / its group entities or other service provider even though your name appears in the National Customer Preference Registry (Do Not Disturb Registry). You expressly agree that any such calls/SMS/e-mails/WhatsApp messages or electronic/ digital messages will not cause any inconvenience to you or your family members.

You expressly and irrevocably consent that for any claim against the service providers, GHF or its group entities shall not be liable and your claim on this account shall be against the service providers and/or tele-callers. You agree to the use of WhatsApp or other electronic/ digital media for communication or sharing of information or documents or for sending notices, agree to abide by the terms and conditions of such applications and agree to the risks associated with such applications or sharing of information or issuance of notices through them. Further, you agree that any acceptance of terms & conditions by you through / e-mail/ SMS/WhatsApp or any other electronic/ digital medium will be binding on you.

Introduction

Godrej Housing Finance Limited (Company or GHF) is engaged in the business of extending loans to varied spectrum of customers. These loans and allied products could be backed by mortgage or otherwise. Considering its costs for raising resources for on-lending, cost of business operations and risk which it assumes, GHF levies interest rate for the loans and collects charges for several services it extends while ensuring that company remains competitive.

The Interest Rate & Charges Policy (Policy) contains details regarding application & review of interest rate and charges on the applicants and borrowers of GHF along with other matters incidental thereto.

Scope & Application

The Policy shall be applicable in respect of all loans extended by GHF except loans extended under Demand / Call loan Policy.

Regulatory Requirement

As per Paragraph 80 and 81 contained in Chapter XIII of Fair Practice Code which is part of the Reserve Bank of India vide Master Direction – Non-Banking Financial Company – Housing Finance Company (Reserve Bank) Directions, 2021 dated 17th February 2021 all Housing Finance Companies are required to have a policy for Interest Rate / charges.

Purpose

The objective of the policy is to 

• Lay down the interest rate and charges framework for GHF,
• Provide the type of interest rate and charges which can be levied,
• Provide the procedure & frequency for review and change of interest rate and charges,
• Lay down the mechanism for changes in the interest rate and charges,
• Provides the disclosure mechanism for interest rate and charges,
• Lays down the Governance Framework for the Policy
• Lays down the mechanism for review, change and modification in Policy.

Interest Rate

Interest Rate is the cost which the Company charges to its Customers for recovery of costs, for risk premium and to earn a return on capital employed for its Shareholders.

Types of Rate Interest

Company may offer any of the below mentioned interest rates:

GHF Prime Lending Rate

The Prime Lending Rate of GHF will be decided by considering the following factors:

1. Cost of Capital
2. Marginal/ Incremental Cost of Borrowing.
3. Operating Cost.
4. Minimum Standard Asset Provisioning.
5. Expected Credit Loss
6. Risk Premium

Company has three types of Prime Lending Rates – (a) GHFPLR and (b) GHFPLR-CR (c) GHFPLREMP. The differentiating features of three PLR is as below:

GHFLPLR or Godrej Housing Finance Prime Lending Rate is the PLR which is used for salaried customers which have historically carried lower credit risk,

GHFLPLR-CR or Godrej Housing Finance Prime Lending Rate-Credit Risk is the PLR which is used for non-salaried customers which have historically carried higher credit risk.

Considering the non-salaried customers carry higher credit risk the GHFPLR-CR shall carry a higher risk premium vis-à-vis GHFPLR.

The company may adopt new PLR as may be required from time to time with the approval of ALCO.

Spread

1. Credit Risk Profile- It may be decided based on the following factors:
   • Assessed Industry risk and current level of Rate of Interest in the market for similar lending activity;
   • Quality of Security/ Collateral;
   • Internal, External Credit Rating and Credit-worthiness of the borrower;
   • Profile of Customer: Customer profile which includes their experience, educational qualifications, market reputation, business profile, financial profile, business model, etc. is an important factor is deriving the interest rate for the loans.
   • Internal credit scorecards and risk models

2. Tenor.
3. Business Strategy- It may also consider aspects like business objectives, market competition, embedded options in the loan product etc.
4. Additional Credit/ Operational Cost.

The rate of interest for the same product and tenor availed during same period by different customers need not be the same-. It could vary for different customers depending upon the risk profile of the customer and shall be at sole discretion of Company.

Risk Based Pricing

GHF will price its loans in line with the risk which it will assume by extending a loan. However, considering that company is commencing its operations and is yet to accumulate the database and market intelligence to assess the exact premium which it should charge for a particular risk profile a broad based distinction basis the profile of the customer will be followed. The spread for different profiles which will be linked to the PLR will be decided by Asset Liability Management Committee (ALCO). However, at no point shall any kind of additional risk burden shall be placed on any person due to reasons such as visually or physically challenged. 

Guiding Principles

1. The profile will be as per the credit policy of the company
2. The final rate and type will be decided as per the Delegation Matrix
3. For final rate factors mentioned in spread to be considered
4. Rate to be offered to the customer via Sanction Letter acceptance of which will lead to confirmation

Bulk Rate Changes

Company may reset floating rate on its personal loans in line with the changes in its PLR. Following actions shall be undertaken by the Company:

• At the time of reset of interest rates, Company shall provide the option to the borrowers to switch over to a fixed rate. This fixed rate shall be linked to the fixed PLR of the Company and shall be as per the rate decided by the Asset Liability Committee,
• The Borrower will be allowed to switch to fixed rate to floating and vice-versa any number of times during the tenor of the loan subject to payment of switching fee of the Company,
• The borrowers shall also be given the choice to opt for (i) enhancement in EMI or elongation of tenor or for a combination of both options; and, (ii) to prepay, either in part or in full, at any point during the tenor of the loan. However, the option to enhance EMI or tenure or combination shall be within 0the risk / credit parameters of the Company such as that the elongation of tenor in case of floating rate loan does not result in negative amortisation.

Charging of Interest

Company charges interest rate to the Borrower as per below scenario:

• Electronic Transfer: from date of actual receipt of funds by Borrower in designated Bank Account,
• Cheque Handover: from date of handover of cheque.

Wherever possible online transfer of funds to Borrower shall be encouraged. 

Post Disbursement changes in terms & conditions

Changes in terms & conditions of loan post disbursement shall be allowed to all eligible class of customers who fit into the scenarios prescribed above as per the Standard Operating Procedure (SOP) approved by the Chief Risk Officer.

Risk Review of Customer Profile

GHFL may at its discretion conduct a risk review of customer profile and basis that risk review vary the interest rate offered to the borrower as per respective risk profile.

Schedule of Charge

Charges leviable by GHF are consolidated under Schedule of Charges. Charges are for services provided by GHF to the customer or for recovering cost for activities done in relation to loan. GST, any cess & other taxes, levies etc. prescribed by the Government of India or the respective state will also be charged from the customer. Further, the above fee and charges are subject to change and will be at the sole discretion of Godrej Housing Finance Limited. Charges levied may vary from customer to customer depending on the profile, product offering selected, other nuances of the loan.

Type of Charges

On-Boarding Charges

These are the charges levied before loan is disbursed and would include:

• Processing fee
• Stamping or Franking 
• Charges towards Stamp Duty/ Registration/ Intimation of mortgage/ Creation of Mortgage 
• Charges to be paid to CERSAI/ CKYCR 
• Technical Fees (For additional property)
• Valuation fee in Construction Linked Loan cases

Life Cycle Charges

These are the charges which are leviable in the event of a trigger. They are:

• Physical Statement of Account
• Physical Duplicate NOC
• Physical Repayment Schedule
• List of Documents
• Instalment  Pick up
• Physical copy of Property documents
• Charges to issue Loan Foreclosure letter
• Conversion or Switch (Changing Floating Rate to Fixed Rate or vice versa)
• Repricing Fee
• Document retrieval (per retrieval)
• Demand Draft or Pay Order Re-issuance or Cancellation
• Loan cancellation charges
• Bank Charges on Cheque/ECS / NACH Bounce

Recovery Charges

These charges are related to loan recovery and are as below:

• 1^st presentation EMI Bounce every month
• 2^nd presentation EMI Bounce every month
• Late Payment/ Penal charges
• Repayment mode - Cheque/NACH Swap
• Charges towards Legal/ / SARFAESI/ Recovery action

Penal Charges

Company may levy a penal charge equivalent to 2% of total EMI outstanding (principal plus interest). There shall be no capitalization of penal charge.

Pre-Payment Charges

These charges shall be leviable in the event of closure of loan facility with GHF as per the extant regulations which prescribe as under:

GHFL shall not charge pre-payment levy or penalty on pre-closure of housing loans under the following situations: 

1. Where the housing loan is on floating interest rate basis and pre-closed from any source. 
2. Where the housing loan is on fixed interest rate basis and the loan is pre-closed by the borrower out of their own sources. 

The expression “own sources” for the purpose means any source other than by borrowing from a bank/ HFC/ NBFC and/or a financial institution. 

All dual/ special rate (combination of fixed and floating) housing loans will attract the pre-closure norms applicable to fixed/ floating rate depending on whether at the time of pre-closure, the loan is on fixed or floating rate. In case of a dual/ special rate housing loans, the pre-closure norm for floating rate will apply once the loan has been converted into floating rate loan, after the expiry of the fixed interest rate period. This applied to all such dual/ special rate housing loans being foreclosed hereafter. It is also clarified that a fixed rate loan is one where the rate is fixed for entire duration of the loan.

GHFL shall not impose foreclosure charges/ pre-payment penalties on any floating rate term loan sanctioned for purposes other than business to individual borrowers, with or without co-obligant(s).

For semi-fixed loans – during fixed tenure the fixed charges will apply and vice-versa for floating tenure

Other Charges

Other miscellaneous charges would be:

The detailed Schedule of Charges is hosted on Website of the Company: 

https://www.godrejcapital.com/ghf/information-and-policies.html

Waiver of Charges

The charges can be waived as per the Delegation matrix.

Review & Change in Schedule of Charge

The treasury / business / customer service team can review the Schedule of charge and can recommend changes to it by ALCO.

Mode of Informing Change

All changes in interest rate and charges will be done on prospective basis. Any revision in rate of interest or fee/ charges by the Company shall be notified through any one or more of the following media and shall be construed as full notice to the customer: 

• Letter on the last known address; 
• E-mail on the registered E-mail ID;
• SMS/ telephone/ electronic message on the registered mobile no.; 
• Notice at the Company’s branches; 
• Notice on the Company's website.

Disclosures

Disclosures shall be as per regulatory norms and shall be disclosed on:

• Website
• Customer documents such as application form, MITC etc
• Any other media as decided by company

• Hindi
• Marathi
• Gujarati
• Telugu
• Tamil
• Kannada
• Malayalam
• Punjabi

*Semifixed to Floating: Switch to floating within 3 years of semifixed period.

*An amount of INR 10,000/- will be applied towards IMD Fees (non-refundable) from the Processing Fees paid.

**In event the documents are not collected on or before the date as intimated by the Company, an additional holding fee of Rs. 1000/- per month will be charged up to a maximum amount of Rs. 25,000/- along with the Document retrieval charges.

1. For Semi-fixed pre-payment charges to be levied as per prevailing rate at time of closing.
2. Refund of Fee: No refund of fee shall be allowed in any case at any point of time.
3. Please note : In addition to the above fee and charges, GST, any cess & other taxes, levies etc. prescribed by the Government of India or respective state will also be charged. Further the above fee and charges are subject to change and will be at the sole discretion of GHF.
4. The Company has adopted an interest rate model based on cost of funds, cost of operations, various risks associated with the loan & security etc. An additional spread, based on the overall risk perceived, is factored in the pricing, which is function of income, credit history, credit information, profile of the borrower, internal assessment of the Company etc. Accordingly, the applicable rate of interest may be different for different customers’ loan exposures.

Godrej Housing Finance Limited has the following Prime lending Rates:

# TAT to be calculated from the date when complete information with respect to service request has been provided

* Company shall update/rectify credit information within 21 days and in case the delay is attributable to the Company, Company shall compensate Customer as per extant guidelines.

• Hindi
• Marathi
• Telugu
• Tamil
• Kannada
• Gujarati
• Punjabi

# TAT to be calculated from the date when complete information with respect to service request has been provided

* Company shall update/rectify credit information within 21 days and in case the delay is attributable to the Company, Company shall compensate Customer as per extant guidelines.

• Hindi
• Marathi
• Telugu
• Tamil
• Kannada
• Gujarati
• Punjabi

List of Documents considered valid for verifying identity and proof of address of prospective customers

Any customer having a grievance/complaint/feedback with respect to the product and services offered by the Company may write to the Company’s Customer Service Department through any of the following channels:

The Company shall ensure timely redressal of complaints of all customers including physically / visually challenged customers.

The GRM will also deal with the issues relating to services provided by the outsourced agency.

* - For accurate and timely resolution, customers are requested to provide all the necessary details like the Customer Information Number (CIF), Loan Account Number (LAN), details of the feedback, suggestions, complaint and valid contact Information including phone number & e-mail ID while first contacting with the Company.

Click here to view form in Marathi, Hindi, Kannada, Telugu, Tamil, Gujarati, Punjabi

Most important terms and conditions of the loan agreed between __________________________________________________(hereinafter referred to as “the Borrower”) and Godrej Housing Finance Limited (“the Company” or “GHF”) having registered office at Godrej One, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai, Maharashtra- 400079 are as under:

LOAN DETAILS

DETAILS OF RATE OF INTEREST

OTHER TERMS RELATED TO LOAN FACILITY

INSURANCE OF THE PROPERTY AND THE BORROWER

NOTICE/ COMMUNICATION RELATING TO RATE OF INTEREST, FEE AND CHARGES

SECURITY/ COLLATERAL FOR THE LOAN

SCHEDULE OF CHARGES

An amount of INR 10,000/- will be applied towards IMD Fees (non-refundable) from the Processing Fees paid.

**In event the documents are not collected on or before the date as intimated by the Company, an additional holding fee of Rs. 1000/- per month will be charged up to a maximum amount of Rs. 25,000/- along with the Document retrieval charges.

*** Semifixed to Floating: Switch to floating within 3 years of semifixed period.

1. For Semi-fixed pre-payment charges to be levied as per prevailing rate at time of closing. Please refer the website www.godrejcapital.com for the latest version of Schedule of Charges.
2. Refund of Fee: No refund of fee shall be allowed in any case at any point of time
3. Please note: In addition to the above fee and charges, GST, any cess & other taxes, levies etc. prescribed by the Government of India or respective state will also be charged. Further the above fee and charges are subject to change and will be at the sole discretion of GHF.
4. The Company has adopted an interest rate model based on cost of funds, cost of operations, various risks associated with the loan & security etc. An additional spread, based on the overall risk perceived, is factored in the pricing, which is function of income, credit history, credit information, profile of the borrower, internal assessment of the Company etc. Accordingly, the applicable rate of interest may be different for different customers’ loan exposures.

CONDITIONS FOR THE DISBURSMENT OF LOAN

PROCEDURE OF RECOVERY OF OVERDUES ARE AS FOLLOWS

CUSTOMER SERVICES

Grievance Redressal Mechanism (“GRM”)

Any customer having grievance / complaint / feedback with respect to the product and services offered by the Company may write to the Company’s Customer Service Department through any of the following channels.

The Company shall ensure timely redressal of complaints of all customers including physically / visually challenged customers.

The GRM will also deal with the issues relating to services provided by the outsourced agency.

You are requested to refer to the website for the latest details regarding “Customer Grievance” for escalation of any queries.

Important Points to Note :

For accurate and timely resolution, customers are requested to provide all the necessary details like the Customer Relationship Number (CRN), Loan Account Number (LAN), details of the feedback, suggestions, complaint and valid contact Information including phone number & e-mail ID while first contacting with the Company.

GHF endeavours to address and respond to all the customers’ requests and complaints within a reasonable time and will keep the customer informed on the status as necessary in the interest of the customer. Since, every request and complaint is unique in nature, it may take up to one month for a thorough resolution, post investigations if any.

The above mentioned Most Important Terms and Conditions (MITC) are not exhaustive and are to be read in conjunction with the terms contained in Sanction letter and the Loan Agreement and the other documents which the borrower has executed with Godrej Housing Finance Limited. In case of any conflict in the terms, the terms as provided in the Loan Agreement shall prevail.

With Warm Regards

For Godrej Housing Finance Limited

Authorised Signatory

DECLARATION/UNDERTAKING BY THE BORROWER

• Fair Practice Code
  • English
  • Hindi
  • Marathi
  • Telugu
  • Tamil
  • Kannada
  • Gujarati
  • Punjabi

• Annual Percentage Rate (APR):
  
  

  Particulars	Insurance Funded		Insurance Self Funded		Unsecured
  	HL	LAP	HL	LAP
  Annual Percentage Rate	6.85%	8.06%	6.95%	8.16%	7.01%

  
  For details – kindly refer Terms & Conditions

 

• Asset Classification Concepts

• Thane Branch
  • English
  • Marathi
• Pune Branch
  • English
  • Marathi
• Bengaluru Branch
  • English
  • Kannada
• Delhi Branch
  • English
  • Hindi
• Regional Office
  • English
  • Marathi

Procedure for return of property documents to legal heir(s) in event of demise of Customer

1. Background

As per RBI guidelines, Company releases the original property documents received from customer(s) and removes charge registered with CERSAI within 30 days of full repayment/ settlement of the loan. Company also has in place a process for return of original property documents to the customer(s) and to the legal heir(s) in case of demise of customer(s).

2. Procedure:

1. Information on Demise: The legal heir(s) shall be required to inform the Company about the demise of the customer(s). Legal heir(s) may contact the Company’s Customer Service Department through any of the following channels:

    

   • Visit nearest branch or
   • Call us on 022-68815555 or
   • Email to customercare@godrejcapital.com

2. Company may reach out to legal heir(s) for continuance / full repayment/ settlement of the loan. In case the customer opts for full repayment/ settlement of the loan, process for closure of the loan and release of property papers post closure shall be initiated.

3. Submission of Documents: The legal heir(s) are required to submit documents such as Death certificate, KYC document of all the legal heir, SMC (Surviving Member Certificate) or other applicable document. These documents shall establish the legal right of the heir(s) to the demised customer’s property.

4. Verification by Company: Company will verify these documents and the identity of the legal heir(s).

5. Retrieval of Documents and Intimation to Legal heir(s): Upon successful verification, the company shall retrieve the document from storage and inform details to the legal heir(s) for handover at the branch of the Company.

6. Removal of CERSAI Charge & Handover of Property Documents: Once the verification is complete, the Company shall remove CERSAI charge and release the property documents to the legal heir(s). Legal heir(s) shall visit the Branch along with documents prescribed by the Company for handover of property documents. In case there are more than one legal heir(s), all of legal heirs have to be present for document handover or shall provide a written consent & NOC and a call confirmation shall be carried out by Company at the time of document handover.

• 2024 - 25
  • September 30, 2024
  • June 30, 2024

• 2023 - 24
  • March 31, 2024
  • December 31, 2023
  • September 30, 2023
  • June 30, 2023
• 2022 - 23
  • March 31, 2023
  • December 31, 2022
  • September 30, 2022
  • June 30, 2022
• 2021 - 22
  • March 31, 2022
  • December 31, 2021
  • September 30, 2021
  • June 30, 2021
• 2020 - 21
  • March 31, 2021
  • December 31, 2020

• Annual Action Plan for FY 2024-25