LAP-Prime

These loans are provided by Utkarsh Small Finance Bank to salaried, self-employed professionals, self-employed non-professionals and non-individual borrowers for a minimum amount of 1,00,00,001 to a maximum amount of up to 10,00,00,000. These loans are secured against the property (residential and/ or commercial) offered as collateral. The repayment tenure for such loans is between 36 months and 180 months.

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  • Loans starting from 1,00,00,001 to 10,00,00,000

  • Loan tenure: 36 Months to 180 Months

  • Repayment in easy Equated Monthly Installment (EMI)

  • Repayment in Equated Monthly Installment (EMI)

  • Foreclosure Allowed during the tenure of the loan

  • NACH/SI allowed for loan repayment

  • Hassle Free Processing

Sl No. Document
1 ID Proof of Borrower & Promoters as per OVD list of Documents
2 Address Proof of Borrower & Promoters as per OVD list of Documents
3 PAN Card of Borrower and Promoters
4 Constitution Document like Partnership Deed in case of Partnership firm along with list of Current Partners on Letter head of the firm. MOA & AOA, list of Current Directors on the Letter head of the firm, Shareholding Patterns in case of Pvt/Public Ltd Co.
*Certificate of registration of Partnership firm (Mandatory in case firm is also the Owner of the Collateral ****Business Registration Proof like Shop & Establishment License
5 Bank statements of last 6 months.(Bank statements of last 12 Months is required incase of Proposal being assessed through Banking surrogate Credit program)
6 Track record of all existing Term loan in the name of Applicant & Co-Applicant in case same is not getting verified through CB report or Bank Statement
7 ESG Declaration
8 Udyam Registration Certificate (URC)/Document required for MSME Classification
9 Beneficiary Owner Declaration, if required (Applicable incase condition for the same is stipulated by Credit in CAM)
10 Income Documents (For Self Employed Professionals/Businessman)
Latest 2 years ITRs/As per applicable Product Program. (Computation of Income is mandatory in case of CPM/GPM)
Last 2 yrs Audited/Unaudited/CA Certified Financial Statements (of the firm/ company in which the applicant / co-applicant is the partner / owner / director- as the case might be)
Tax audit report, if Applicable
Last 2 years ITR form, if filed under u/s 44AD or 44ADA or 44AE
Copy of Provisional Financials (CA certified /Self-attested as applicable under the Product Program/Credit Program) for the period subject to completion of FY and requirement as per the Applicable Credit Program.
11 Other Income Proofs
Proof of Ownership of Property(Property Tax, Property Document) & Rent Agreement/Receipt of Rental Income in Bank SOA during last 6 months
Proof of Pension (Copy of Pension Order/Form 16/ Passbook reflecting pension credits)
Proof of ownership of Agricultural Land for Agri Income (Ownership documents)
12 Collateral Documents
Title deed (copy) for minimum last 13 years
Chain documents of title of property ownership if available (copy)
Latest Property Tax receipt copy (if available)
Copy of sanctioned building plan (if applicable)
13 GST Returns for Period for which neither Audited not CA certified financials are available

S. No

Charge Name

Charges

i. Processing Fee* Upto 2% of Loan Amount + Applicable taxes
ii. Account Maintenance Fee [For on MSME Loans up to 5 Lakh] Upto 2% of Loan Amount + applicable taxes
iii. Pre Closure Charges [Loan Priced at Fixed Rate of Interest]

Pre-Closed by

Pre Closure Charges

Upto 6 Months 6% of outstanding Principal portion of the loan and applicable taxes
During 07 to 24 months 4% of outstanding Principal portion of the loan and applicable taxes
During 25 months to  36 months 3% of outstanding Principal portion of the loan and applicable taxes
More than 36 months 2% of outstanding Principal portion of the loan and applicable taxes
iv. Part Prepayment Charges [Loan Priced at Fixed Rate of Interest] 4% of the Pre-Payment amount towards principal and applicable taxes
v. Cheque /NACH/ SI  Bouncing Charges 500 + Applicable taxes
vi. Penal Charges on Overdue EMI 2% per month on overdue amount for overdue period along with applicable taxes.
vii. Legal/Valuation Charges As per actuals
viii. Duplicate Interest and Principal Certificate issuance Charge 250 + Applicable taxes
ix. Duplicate No dues Certificate / NOC issuance Charges 250 + Applicable taxes
x. Swap Charges [Cheque/Instrument] 500/- per occasion of swapping of the ECS mandate/NACH/ Standing instruction mandate+ Applicable taxes
xi. Duplicate statement issuance Charges 250/- per instance per set + Applicable taxes
xii.

Charges for subsequent set of Photocopy of loan agreement/ documents where requested by Borrower

1000/- per instance per set + Applicable taxes
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Apply to LAP-Prime

Loan calculator

Amount ()

1 Lac

10 Cr

Tenure ( )

1 Month

120

Interest Rate (%)

1%

31%

line-chart-pattern-bg
Equated Monthly installments (EMI)

2,10,651

Need more Information?
Deposit Amount
Interest Earned

Interest Rate

8.00%

Interest Earned

3,50,452

Maturity Value

13,50,452

Maturity Date

20 Apr 2023

(Indicative interest rates for calculation only. click here for latest rates.)

FAQs

You can apply for a LAP-Prime starting from 1,00,00,001 to 10,00,00,000

The tenure for LAP-Prime is between 36 months to 180 months.

All Individuals and Non-Individual Entities.

You can either visit your nearest Utkarsh Small Finance Bank's branch or write to us at [email protected], let us know about your requirement and we will get in touch with you.

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