Most Important Terms and Conditions

MITC - English

Name/s of the Borrower/s:

Application Number:

Loan Product: Home Loan/Loan against property

Major terms and conditions of your Loan agreed to between the Borrower/s named above and Vastu Housing Finance Corporation Limited ("VHFC") are as under:

Key Terms of the Loan
Loan Sanctioned Amount Rs.
Interest Type (Fixed/Floating or Dual/Special Rate) Floating
Purpose of Loan
VHFC PLR 19.57%
Rate of Interest % p.a(VHFC Prime Lending Rate 19.57%-/+ %)
Tenor Months
EMI Amount Rs.
Number of EMIs
Installment Type Monthly
Presentation date for EMI/Pre-EMI 5th/10 th of every month
Mode Of Repayment NACH/PDCs
Mode of Communication for Change in Interest Rate Via letter/SMS/Email
Date of reset of interest With respect to PLR change date
Moratorium or Subsidy Subject to Eligibility


  • In case of a change in interest rate the EMI amount mentioned will remain constant and the tenor of the loan will be adjusted. However, VHFC reserves the right to change the EMI.
  • The Borrower/s shall pay the EMIs and the Pre EMI-Interest (as applicable) regularly on his/her/their own without any reminder or intimation from VHFC.
  • As per policy and practices being followed by VHFC, all customers are intimated of any change in the Prime Lending Rate. Further, besides sending of individual intimation by letter/Email/ SMS, such changes in the Prime Lending Rate are duly notified and displayed immediately on the website of VHFC for information to all its customers.

1. Fees and Charges

Nature of Charge Amount
Copy of Welcome Letter and Amortization Schedule Rs.250/-
Initial Non-refundable Application Fees Rs.3000/- for HL
Rs.5000/- for LAP
Processing Fee Upto 3% of Sanctioned Amount
Loan Cancellation Charges Upto 4% of sanction amount
CERSAI charges Rs.50/- for loan amount upto Rs. 5 lakhs
Rs.100/- for loan amount above Rs.5 lakhs
PDC / NACH Bounce Charges Rs. 500/-
Administrative Fees Upto Rs. 5500/-
Post disbursement document (PDD Charges) Upto 0.5% of Sanctioned amount
Non-refundable BT upfront fees mandate Upto Rs.5000/-
Penal Charges for delay in deposit (Applicable on Outstanding Installment Due) 24% Yearly
PDC /NACH Swap fee Rs. 500/-
Statement of Account, List Of Documents, Foreclosure Letter and Duplicate NOC Rs. 500/- per document
Retrieval of Copy of Documents Rs.250/- for one document
Rs.500/- for 2 to 4 document
Rs.1000/- for more than 4 documents
Prepayment and Foreclosure charges Where the home loan sanctioned to Individual Borrower with or without co-applicant at Floating Rate of Interest: NO CHARGES/NIL

In case of Non-Housing loan given to Individual/Nonindividual for business purpose on Floating Rate of Interest: up to 4% charges would be levied on principle paid for pre-closure and part-payment
Collection Charges
Cheque Collection Charges
Cash Collection Charges
Rs 500/- per visit
Rs 250/-
Rs 500/-
Original Document Retrieval Fee Rs. 3000 /-
  • Above fee and charges are subject to change and will be at the sole discretion of VHFC and any change in charges, would be informed to the customer in writing/email/ SMS.
  • All the above charges are exclusive of GST.

2.Security of the Loan:

Mortgage Property Details:

Guarantee (The name of the Guarantors shall be mentioned):

Other Security if any:

3. Insurance of the Property/Borrowers:

The Borrower/s is/are required to insure the property against all risks including fire, earthquake, and flood etc and make Vastu HFC the sole beneficiary under the policy. The Borrower/s has/have to pay the premium in time and keep the policy alive at all times during the period of the loan and produce evidence thereof to Vastu HFC from time to time on his/her/their own.

Insurance of the Borrower: In order to protect the life of borrower

4. Conditions for disbursement of loan:

Compliance by the Borrower/s with the requisite conditions contained in the Sanction Letter; payment of own contribution; production of all property and title related documents; submission of approved plans; statutory approvals and creation of security in favor of Vastu HFC as required by it.

5. Brief Procedure for Recovery of Overdues:

In case the EMI or Pre-EMI due to VHFCL is not paid within the specified due date, additional interest will be charged. Additional interest on overdue payments shall be calculated in accordance with the prescribed penal charges, as detailed in the schedule of charges. Borrowers are required to pay additional interest if payments are delayed beyond a grace period of four (4) days after the Due Date of borrower's EMI/Pre-EMI.

Vastu HFC shall issue written Notice or Notices to the Borrower/s before initiating legal process including court proceedings to recover over dues or the entire outstanding loan with unpaid dues and charges, as the case may be. However, though not obliged, Vastu HFC may in its sole discretion give personal or telephonic or written reminder or intimation to the Borrower/s prior to the above action.

6. Date on which annual outstanding balance statement will be issued

On Customer request.

7. Customer Service:

The customer may visit our branch office between 11:00 am to 5:00 pm (Monday-Friday) except on National Holidays.

Person to be contacted for customer service: VHFC Branch Manager or Sales Manager as the case may be.


Customers who wish to provide feedback or send in their complaint may also use the following channels between 10:00 am and 6:00pm, Monday to Friday (except on national Holidays)

Toll Free Number: 1800 22 0001


Write to us at the below mentioned address:

Vastu Housing Finance Corporation Limited- Customer Service Cell A Wing 203/204 Navbharat Estates Pvt Ltd, Navbharat Estates, Barrister Nath Pai Marg, Mumbai, Maharashtra 400015

Procedure to Obtain the mentioned documents: -

  • Loan Account Statement can be provided within 7 business days from the of date of receipt of request to branch team/Customer Service team (Necessary administrative fees shall be applicable as per MITC)
  • Photo copies of documents can be provided within 10 business days from the date of receipt of request. (Necessary administrative fees shall be applicable as per MITC)
  • Original documents will be returned within 20 business days from the date of closure of loan

8. Grievance Redressal Mechanism

Stage 1

  • The complaint which the corporate office directly receives through Email/Calls/letter will be attended in consultation with the concerned branch
  • The complaint(s) received at the branch (es) shall be recorded in the Complaint Register and redressed in consultation with Corporate Office
  • Customers can contact us at 1800 22 0001 or email us at between Monday to Friday between 10:00 am to 6:00 pm
  • We assure a reply/acknowledgement to call within 48 working hours
  • We assure a reply/acknowledgement to letters/emails received through this channel within seven working days.
Call us at 1800 22 0001
Email us at
Write to us at the below-mentioned address: Vastu Housing Finance Corporation Limited A-203, Navbharat Estates, Barrister Nath Pai Marg, Azad Nagar, Sewri, Mumbai, Maharashtra 400015

Stage 2

  • If the customer is not satisfied with the customer service team resolution within two weeks, they can redirect their complaint to our Grievance officer.
  • Grievance officer Details are mentioned at all branches.
  • Customers can also write us on Vastu Housing Finance Corporation Limited A-203, Navbharat Estates, Barrister Nath Pai Marg, Azad Nagar, Sewri, Mumbai, Maharashtra 400015
  • Complaints received at our end will be seen in the right perspective and analyzed from all possible angles. The communication of VHFCL's stand on any issue will be provided to the customers within one month upon the receipt of the complaint. Complaints that require some time for examination of issues involved will be acknowledged promptly

Grievance Officer

Mr. Mohd Shakil Khan & Ms. Ankita Gupta
Email us at
Call us at 022-35286712
Write to us at the below-mentioned address: Vastu Housing Finance Corporation Limited A203, Navbharat Estates, Barrister Nath Pai Marg, Azad Nagar, Sewri, Mumbai, Maharashtra 400015

Stage 3

  • In case the response is unsatisfactory, or the response is not received from the company within a reasonable time (1 month), or the customer is dissatisfied with the response received, the customer may approach NHB (National Housing Bank)
  • Customers can contact NHB on of Regulation and Supervision (Complaint Redressal Cell) 4th Floor, Core 5-A, India Habitat Centre Lodhi Road, New Delhi – 110003 or register their grievance through the online portal
Online Portal
Write to us at the below-mentioned address: Department of Regulation and Supervision (Complaint Redressal Cell) 4th Floor, Core 5-A, India Habitat Centre Lodhi Road, New Delhi110003