In order to meet unexpected expenses like medical emergencies, house renovation or family vacation, we provide a loan ranging between 1 lakh to 10 lakhs.
Avail a loan for tenure of minimum 1 year to maximum 10 years.
It is over and above the existing home loan with Utkarsh Small Finance Bank.
No foreclosure charges or prepayment penalties, in case you foreclose the loan before the completion of loan tenure.
To be eligible for this loan, the combined LTV of the existing loan and proposed loan should not exceed 75%.
Processing fees are applicable at the time of disbursement amounting to 1% of the sanctioned loan amount, subject to a minimum of 3,000 and maximum of 25,000 plus GST.
Late payment charges will be added to the monthly interest at 2% per annum over and above the applicable interest rate on the overdue amount for the period of default.
The borrower also needs to pay legal and technical fees on an actual basis.
Cheque/ECS/ACH Bouncing charges will be 300 plus GST.
What are the collateral requirements in case of a secured loan?
In most cases, we will consider the house property attached to the original loan taken by the customer as the collateral.
In how many installments will the loan amount get disbursed?
Depending on your requirement of funds, the loan amount will be disbursed in full or in installments. Disbursement will take place at the sole discretion of Utkarsh Small Finance Bank.