What are the things to be done before I apply for takeover of loan?
Once you decide to transfer your existing home loan, you need to get the
current loan outstanding amount from the existing loan provider in the form of
balance confirmation certificate. Once you have determined your eligibility
for the loan transfer, you can apply for a Takeover of Loan with Utkarsh Small
What are the collateral requirements in case of a secured loan?
Usually, the collateral would be the house property which is bought with the
loan amount or is associated with the loan.
How much time will it take for Utkarsh Small Finance Bank to transfer my
Since it is as good as a new loan application, the processing of the same will
take 15-20 days. Once the procedures are completed, the loan gets transferred.
How will the loan disbursal take place?
Once your loan application is approved, Utkarsh Small Finance Bank will make
the payment to your existing home loan provider on the basis of the balance
confirmation certificate issued by them. After the clearance of funds, the
current lender will hand-over the property documents in their possession to
Utkarsh Small Finance Bank.