MoneyLens / Home loans
Your loan, explained.
Home loan · Floating rate · Saraswati Co-operative Bank Ltd · ••••0482
Illustrative
Your loan today
AccountClosed 30 SepContractForeclosure letter
Outstanding principal
₹0
Closed 30 Sep 2026
Final payment
₹7,83,940
Principal + interest to the payment date
Original documents
Due 30 Oct
Day 18 of 30
Interest structure
Closed
Was floating · 9.40%
Closure is tracked from the day you paid. The checklist dates follow from it; tick each step as it happens.
Myra's most important observations
Home loan closure & property documents
Active2 of 6 verified · 2 steps are overdue · originals due 30 Oct 2026Day 18 of 30
✓Final repaymentVerify lender receipt and account settlementDone 30 Sep
✓No-dues certificateObtain closure confirmation and loan account statementDone 5 Oct
3Original property documentsTrack document handover and acknowledgementBy 30 Oct
4Charge / lien releaseVerify CERSAI, registry or other charge satisfactionBy 30 Oct
!Auto-debit cancellationCheck NACH / e-mandate terminationDebited 5 Oct after closure
!Credit-report updateVerify that the loan is reported as closedOverdue since 12 Oct
Original property documents
5!Registered sale deedPending
!Previous sale deedPending
!Society share certificatePending
!Encumbrance certificatePending
!Building completion certificatePending
Contract vs account data
Rates, spreads and rights come from the sanction letter, KFS, agreement and rate notices. Balances, paid EMIs and charges come only from dated statements or lender letters. An original sanction letter alone can't establish today's balance.
Documents for this loan
Myra separates the KFS, sanction letter, agreement, welcome letter and statements, and uses the latest valid version.
4p
Sanction letter
10 Aug 2014 · Original loan
20p
Loan agreement
20 Aug 2014 · Schedule of charges
1p
Foreclosure letter
6 Sep 2026 · Paid 30 Sep 2026
2p
Bank statement (your account)
10 Oct 2026 · Shows a debit after closure
Evidence and cited clauses
The quoted lines Myra relied on, and where each was used.
| Source | What it says | Used in |
|---|---|---|
| Sanction p.1 | Saraswati Co-operative Bank Ltd (a scheduled urban co-operative bank) | Quote expired · Total cost · Interest avoided |
| Sanction p.1 | 9.40% p.a. floating, linked to the bank's MCLR | Quote expired · Total cost · Interest avoided |
| Quote p.1 | Interest 06-09-2026 to 30-09-2026: ₹5,015 | Quote expired · Amount to close · Interest avoided |
| Quote p.1 | Foreclosure charges: Nil | Quote expired · Amount to close · Interest avoided |
| Statement p.1 | 05-10-2026 NACH DR Saraswati Co-op Bank HL EMI ₹24,917 | Terms |
Rules used in this report
Each figure uses the rule in force on the date that matters: a sale, a sanction, a payment, or today. Worked out on 18 Oct 2026. Myra's rules table was last updated on 25 Oct 2026.
Prepayment charges (floating rate)
In force 7 May 2014 – 31 Dec 2025
Applied for 10 Aug 2014 (your sanction date)
RBI — Levy of foreclosure charges / pre-payment penalty on floating rate term loans
RBI circulars of May 2014 (banks) and 2014 (NBFCs)
Official site: rbi.org.in
GST on penal charges
In force from 1 Jan 2024
Applied for 18 Oct 2026 (today)
CBIC — Circular No. 245/02/2025-GST
245/02/2025-GST, 28 Jan 2025
Official site: cbic-gst.gov.in
GST on lender fees
In force from 1 Jul 2017
Applied for 18 Oct 2026 (today)
Overdue loan classification
In force from 12 Nov 2021
Applied for 18 Oct 2026 (today)
RBI — Prudential norms on IRACP: clarifications
RBI/2021-2022/125, 12 Nov 2021
Official site: rbi.org.in
Credit bureau reporting
In force from 1 Jan 2025
Applied for 30 Sep 2026
Credit report corrections
In force from 26 Apr 2024
Applied for 18 Oct 2026 (today)
RBI — Framework for compensation to customers for delayed updation / rectification of credit information
RBI/2023-24/72, 26 Oct 2023
Official site: rbi.org.in
Return of property documents
In force from 1 Dec 2023
Applied for 30 Sep 2026; 18 Oct 2026 (today)
RBI — Responsible Lending Conduct: Release of Movable / Immovable Property Documents on Repayment / Settlement of Personal Loans
RBI/2023-24/60, 13 Sep 2023 · from 1 Dec 2023
Official site: rbi.org.in
Floating rate resets
In force from 1 Oct 2025
Applied for 18 Oct 2026 (today)
RBI — Reset of Floating Interest Rate on EMI based Personal Loans (as amended)
RBI/2023-24/55, 18 Aug 2023; amended 29 Sep 2025, in force 1 Oct 2025
Penal charges on loans
In force from 1 Jan 2024
Applied for 18 Oct 2026 (today)
RBI — Fair Lending Practice: Penal Charges in Loan Accounts
RBI/2023-24/53, 18 Aug 2023
Home loan tax benefit
In force from 1 Apr 2026
Applied for 18 Oct 2026 (today)
Income-tax Act, 2025 — Sections 22 and 123
Official site: incometaxindia.gov.in
RBI Ombudsman
In force from 1 Jul 2026
Applied for 18 Oct 2026 (today)
RBI — Reserve Bank – Integrated Ombudsman Scheme, 2026
Official site: cms.rbi.org.in
Your requests
3 openA ready request for each problem Myra found. Complaints go to the RBI Ombudsman if the lender doesn't fix them.
Document version history
10 Aug 2014
Sanction letter
Original loan
20 Aug 2014
Loan agreement
Schedule of charges
6 Sep 2026
Foreclosure letter
Paid 30 Sep 2026
10 Oct 2026
Bank statement (your account)
Shows a debit after closure
Contract terms vs account data
Contract terms come from the KFS, sanction letter and agreement. Balances, paid EMIs and charges come only from statements or lender letters you upload, and always show their date. A brochure alone can't establish your current balance.