Most Important Terms and Conditions

Fees and other charges*

Processing fees As mentioned in the preceding section(s) of Sanction Letter
Pre-payment charges Individual Borrowers - Nil
Non Individual borrowers/co-borrowers - 2.00% of the balance outstanding at the time of foreclosure or 2.00% of the part prepayment amount.
Instrument return charges 750/- per instance
Penalty for Instrument return - Project Finance 1st time return 5000/-
2nd time and above return 10000/-
Overdue interest rate 30% p.a. i.e. 2.50% per month of the overdue installments / amount
CERSAI fees 50/- for loans up to 5 lac & 100/- for loans greater than 5 lac (to be collected at the time of closure of the loan)
Duplicate statement issuance charges 250/- per instance
Photocopy of title deeds issuance charges 500/- per instance
Retrieval of title deeds 500/- per instance
Cheque/Instrument swap charges 500/- per instance
Duplicate amortization schedule issuance charges 250/- per instance
Duplicate interest certificate (provisional / actual) issuance charges 250/- per instance
Mortgage Creation /Release Charges As per the laws of the State where the property is located/ mortgage is being created.
Legal / Recovery Charges As per actual, applicable in the event of default.
*Above mentioned fees and charges are exclusive of all Government taxes, cess, levies etc., and subject to change at the sole discretion of the Shriram Housing Finance Limited. Any change in charges, would be uploaded on the website or intimated to the customer by letter/email/SMS.

Security for the Loan:

Mortgage of below mentioned property in favour of SHFL.
Property Address :
Guarantee :
Other Security :

Insurance of Property/Borrowers:

Property Insurance: It is mandatory for the customer to obtain Property Insurance, fully insuring the property to be purchased / constructed against all losses, unforeseen hazards like damages on due to fire, riots and other natural calamities like earthquake, floods etc. and if required by SHFL against any other insurable risk for Home Loan / Addition Finance. Such Insurance Policy obtained by the borrower will be assigned in favour of SHFL. Please refer details as mentioned in point no. 11 & 12 of terms and conditions.

Life Insurance:

Borrower has the option to avail Life Insurance cover to the extent of the loan amount. The premium amount would vary depending on the age of the insurer and the stage of construction of the property.

Condition for disbursement of Loan:

The Loan disbursement would be subject to satisfactory compliance of all terms and conditions as stipulated in the legal opinion report, technical verification report, creation of security, furnishing of requisite statutory approvals of the property to be funded by SHFL. And in cases of construction of homes, disbursement will also be based on its stage of construction.

Procedure for intimation of the changes in rate of interest / EMI:

The rate of interest is reviewed on periodic basis. In event of any change in rate of interest /EMI, SHFL will communicate the same to the borrower via updating it on website/letter/email at the last known contact details, updated in our records.

Procedure for recovery of overdue amount:

In the event of non-payment of any scheduled dues to SHFL, e.g. EMIs, pre-EMIs, etc., the Borrower would receive intimation by SMS (on the mobile number registered with SHFL) and/or telephonic call and/or letter. Such unpaid dues would need to be paid within 7 days of the originally scheduled date, along with all overdue and bounce charges, as listed out under the section "Fees and other charges".

In the event of the dues, in full or in part, remaining unpaid after 7 days, SHFL shall, at its sole discretion, initiate legal action for its recovery.

Date on which Annual Outstanding Balance Statement will be issued:

SHFL shall issue a statement reflecting the Annual Outstanding Balance, before the end of the 1st quarter of the consecutive financial year.

Customer Service:

Visiting Hour at the office : 11.00 AM till 3.30 PM on all working days (Monday to Friday)

For any other queries, you can contact us at our toll free number 1800-102-4345.

Procedure to obtain loan account statement, photocopy of the title documents, return of original documents on closure / transfer of loan: For obtaining any of above mentioned document borrowers are requested to provide a written request letter / application along with Demand Draft / Pay order / Cheque of amount mentioned in the above schedule of charges in favour of Shriram Housing Finance Limited and submit it to nearest SHFL Branch. After realization of DD / Pay order / Cheque the requested documents will be dispatched to the borrower address within 3 weeks time.

Grievance redressal mechanism:

In a rare event of you not being satisfied with the services of SHFL, you may prefer to submit your grievances or queries, through the following channels of communication:

»  Branch-Make a Complaint to respective Branch Head and it shall be recorded in Complaint Register
»  Call Toll Free No. - 1800-102-4345
»  Email:
»  Letter: Shriram Housing Finance Limited, Level 3, East Wing, Wockhardt Towers, , Bandra Kurla Complex, Mumbai 400051

SHFL will make available facilities at each of its branches and offices for the customers to lodge and/or submit their complaints or grievances, if any. Incase you are not satisfied with the initial response or do not receive a response to your complaint, from the company, you may escalate your concerns to:

Grievance Redressal Officer:
Mr. Sameer Shilotri
Shriram Housing Finance Limited
Level 3, Wockhardt Towers, East Wing
Bandra Kurla Complex, Mumbai - 400051
Phone - (022) 42410400, Fax - (022) 42410422

In case the response given is still unsatisfactory or is not received from the company within reasonable time (6 weeks), the customer may approach NHB either through online mode at the link or through offline mode, in prescribed format, at the following address/email id:

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

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.

I authorize Shriram Housing Finance Ltd. representative to call/sms/email me with reference to my enquiry