Can I avail benefit of reduced EMI in case the base rate of interest comes
down anytime during the tenure of my loan?
Yes, you may avail the benefit of reduced interest rate on your home loan in
case you opt for a floating rate loan and there is reduction in the base rate.
What are the collateral requirements in case of a secured loan?
The house property related to the loan could be the collateral for your
housing loan. However, you need to ensure that the title to your property is
clear, marketable and free from encumbrance and that you have all the
necessary documentation in place.
Do I need to take home insurance?
It is advisable to take home insurance so as to protect your house property
from any untoward incidents such as fire and natural calamities. Utkarsh Small
Finance Bank will be the beneficiary of the insurance policy until the time
the loan is paid in full.
In how many installments will the home loan get disbursed?
Depending on your requirement of funds, the home loan may be disbursed in full
or in installments. Disbursement will happen as per the discretion of Utkarsh
Small Finance Bank.