MoneyLens / Home loans
Your loan, explained.
Home loan · Floating rate · Godavari Home Finance Ltd · ••••3317
Illustrative
Your loan as sanctioned
ContractSanction + KFS
Loan amount
₹48,00,000
Sanction letter
Interest rate
8.75%
RBI repo rate + 3.25% · or 9.40% fixed
Loan period
20.0 years
240 EMIs of ₹42,418
Interest structure
Floating
3-year fixed option offered
Figures come from the sanction letter and KFS. Nothing is signed or disbursed yet.
Myra's most important observations
How your rate is built
Sanction letter5.50%RBI repo rate+3.25%spread
= 8.75%
The spread is fixed in your contract. The benchmark part changes only at a reset, every 3 months. The benchmark figure is your rate less the spread: check it against the published rate.
Joint borrowers
Sanction letter| Borrowing | Liable for | |
|---|---|---|
| Ananya Rao | Primary borrower | The whole loan |
| Vikram Rao | Co-borrower | The whole loan |
Ownership and borrowing are separate: ownership shares are in the sale deed, not the loan papers. Each borrower is liable for the full amount. For tax, you told Myra your share is 50%.
Conditions before disbursement
Sanction letterOwn contribution of ₹12,00,000 paid to the sellerPending
Title search report (13 years)Pending
Society NOC for the mortgagePending
Encumbrance certificatePending
Registered sale deedPending
Mortgage (MODT) filingPending
Two rate options in one sanction
Sanction letterFloating · RBI repo rate + 3.25%
8.75% · ₹42,418Resets with the benchmark from day one
Fixed for 3 years
9.40% · ₹44,429Then floating
During the fixed period the agreement sets a 2% prepayment charge.
Extracted loan terms
Each term keeps its source and check status. Calculations are re-run by code.
34 verified3 to check
| Term | Value | Source | Status |
|---|---|---|---|
| Provider | Godavari Home Finance Ltd | KFS p.1 | Verified |
| Reference number | ••••3317 | Sanction p.1 | Verified |
| Loan amount | ₹48,00,000 | KFS p.1, §A | Verified |
| Interest rate | 8.75% | KFS p.1, §A | Verified |
| Rate type | floating | KFS p.1, §A | Verified |
| Tenure | 240 months | KFS p.1, §A | Verified |
| EMI | ₹42,418 | KFS p.1, §A | Recalculated ✓ |
| Sanction date | 12 Oct 2026 | KFS p.1 | Verified |
| First EMI date | 5 Dec 2026 | KFS p.1, §A | Verified |
| Annual Percentage Rate (APR) | 8.80% | KFS p.2, §C row 9 | Conflicts with recalculation |
| Prepayment / foreclosure charge | 0.00% | KFS p.2, §B | Verified |
| Is the insurance optional? | yes | KFS p.2, §B note 2 | Needs confirmation |
| Borrower | individual | KFS p.1 | Verified |
| Purpose | personal | KFS p.1 | Verified |
| Deducted before disbursement | Processing fee ₹10,000 · GST on fee ₹1,800 · Legal and technical fee ₹5,900 (incl. GST) · Home-loan protection cover ₹48,500 | Sanction p.2 | Verified |
| Penal charge on overdue EMIs | 2.00% | KFS p.2, §B | Verified |
| Look-up (cooling-off) period | 3 | KFS p.3, §D | Verified |
| Benchmark | RBI repo rate | KFS p.1, §A | Verified |
| Spread over the benchmark | 3.25% | KFS p.1, §A | Verified |
| What the loan is for | purchase ready | Sanction p.1 | Verified |
| Type of lender | housing finance company | KFS p.1 | Verified |
| Longest the loan may run | 360 months | Sanction p.2 | Verified |
| Co-borrowers | Ananya Rao, Vikram Rao | Sanction p.1 | Verified |
| Original documents deposited | Sale deed; Previous title deeds; Encumbrance certificate; Approved building plan; Occupancy certificate | Sanction p.3, Annex | Verified |
| Offer valid until | 10 Jan 2027 | Sanction p.1 | Verified |
| Property cost / value | ₹60,00,000 | Sanction p.1 | Verified |
| Your own contribution | ₹12,00,000 | Sanction p.1 | Verified |
| Stamp duty and registration (sale deed) | ₹4,20,000 | Sanction p.2 | Verified |
| Fixed-rate option | 9.40% | Sanction p.2 | Verified |
| Fixed period | 36 months | Sanction p.2 | Verified |
| Prepayment charge during the fixed period | 2.00% | Document p.9, cl. 9.3 | Verified |
| Can the spread change? | revisable | Document p.6, cl. 5.4 | Conflict |
| Conditions before disbursement | Own contribution of ₹12,00,000 paid to the seller; Title search report (13 years); Society NOC for the mortgage; Encumbrance certificate; Registered sale deed; Mortgage (MODT) filing | Sanction p.4, Annex A | Verified |
| How the home is used | self occupied | You entered | Verified |
| Your share of the loan | 50.00% | You entered | Verified |
| Your income-tax regime | old | You entered | Verified |
| Your income-tax slab (old regime) | 30 | You entered | Verified |
How your interest is calculated
EMI recalculatedEach month's interest is the outstanding principal × 8.75% ÷ 12. Your EMI stays ₹42,418; the interest part shrinks and the principal part grows.
EMI 1
₹35,000 interest₹7,418 principal
EMI 240
₹308 interest₹42,184 principal
Penalties and charges
KFS p.2, §B- Processing fee₹10,000
- Legal and technical fee₹5,900 incl. GST
- Stamp duty on the mortgage (MODT)₹24,000
- Bounce / dishonour₹590 incl. GST
- Penal charge2% a month on overdue · no GST
- Foreclosure (floating rate, individuals)0% + GST
- Duplicate NOC / document retrieval₹1,180 incl. GST
Repayment schedule
Calculated from your terms · lender schedule not providedY1Y4Y7Y10Y13Y16Y20
Principal per yearInterest per year
| EMI | Due | EMI | Interest | Principal | Balance | Status |
|---|---|---|---|---|---|---|
| 1 | Dec 2026 | ₹42,418 | ₹35,000 | ₹7,418 | ₹47,92,582 | |
| 2 | Jan 2027 | ₹42,418 | ₹34,946 | ₹7,472 | ₹47,85,110 | |
| 3 | Feb 2027 | ₹42,418 | ₹34,891 | ₹7,527 | ₹47,77,583 | |
| 4 | Mar 2027 | ₹42,418 | ₹34,837 | ₹7,581 | ₹47,70,002 | |
| 5 | Apr 2027 | ₹42,418 | ₹34,781 | ₹7,637 | ₹47,62,365 | |
| 6 | May 2027 | ₹42,418 | ₹34,726 | ₹7,692 | ₹47,54,673 | |
| 7 | Jun 2027 | ₹42,418 | ₹34,669 | ₹7,749 | ₹47,46,924 | |
| 8 | Jul 2027 | ₹42,418 | ₹34,613 | ₹7,805 | ₹47,39,119 | |
| 9 | Aug 2027 | ₹42,418 | ₹34,556 | ₹7,862 | ₹47,31,257 | |
| 10 | Sep 2027 | ₹42,418 | ₹34,499 | ₹7,919 | ₹47,23,338 | |
| 11 | Oct 2027 | ₹42,418 | ₹34,441 | ₹7,977 | ₹47,15,361 | |
| 12 | Nov 2027 | ₹42,418 | ₹34,383 | ₹8,035 | ₹47,07,326 |