LAP- Prime

Meet your additional personal/ Business requirements with Utkarsh Small Finance Bank Limited's Loans Against Property (Prime). Mortgage your property & get loan up to 65% of your property’s value. Bank offers competitive interest rates and a hassle-free processing on loans against property. With low EMIs and speedy loan approvals, our loans against property are the ideal solution to meet your immediate financial needs.Rate of Interest (ROI): 11%-12% p.a.

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Benefits
Documents Required
FAQ
Fees and Charges

Loans of up to Rs. 5 Crore available
Loan tenure: 36 Months to 120 Months
Repayment in easy Equated Monthly Installment (EMI)
Foreclosure Allowed during the tenure of the loan
NACH/SI allowed for loan repayment
Hassle Free Processing

KYC
Application form
Original Property Papers
Documents as per product norms

What’s the loan limit for LAP- Prime?

You can apply for a LAP- Prime starting from Rs. 1 Crore to Rs. 5 Crores

What’s the loan tenure?

Maximum loan tenure is 120 months.

Who can apply for LAP- Prime?

All Individuals and Non- Individual Entities.

How do I apply for LAP- Prime?

You can either visit your nearest USFBL branch or write to us at communications@utkarsh.bank, let us know about your requirement and we will get in touch with you.

S. No

Charge Name

Charges

Processing Fee*

Upto 2% of Loan Amount + Applicable taxes

ii.

Account Maintenance Fee (For on MSME Loans up to Rs. 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

Cheque /NACH/ SI Bouncing Charges

Rs. 300 + Applicable taxes

vi.

Penal Interest on Overdue EMI

2% month on the Overdue EMI for the Overdue Period

vii.

Legal/Valuation Charges

As per actuals

viii.

Duplicate Interest and Principal Certificate issuance Charge

Rs. 250 + Applicable taxes

ix.

Duplicate No dues Certificate / NOC issuance Charges

Rs. 250 + Applicable taxes

Swap Charges (Cheque/Instrument)

Rs. 500/- per occasion of swapping of the ECS mandate/NACH/ Standing instruction mandate+ Applicable taxes

xi.

Duplicate statement issuance Charges

Rs. 250/- per instance per set + Applicable taxes

xii.

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

Rs. 250/- per instance per set + Applicable taxes

*Nil Processing Fee for MSME loans upto Rs. 5 Lakh.

Benefits
1. Loans of up to Rs. 5 Crore available
2. Loan tenure: 36 Months to 120 Months
3. Repayment in easy Equated Monthly Installment (EMI)
4. Foreclosure Allowed during the tenure of the loan
5. NACH/SI allowed for loan repayment
6. Hassle Free Processing
Documents Required
1. KYC
2. Application form
3. Original Property Papers
4. Documents as per product norms
FAQ

What’s the loan limit for LAP- Prime?

You can apply for a LAP- Prime starting from Rs. 1 Crore to Rs. 5 Crores

What’s the loan tenure?

Maximum loan tenure is 120 months.

Who can apply for LAP- Prime?

All Individuals and Non- Individual Entities.

How do I apply for LAP- Prime?

You can either visit your nearest USFBL branch or write to us at communications@utkarsh.bank, let us know about your requirement and we will get in touch with you.

Fees and Charges

S. No

Charge Name

Charges

Processing Fee*

Upto 2% of Loan Amount + Applicable taxes

ii.

Account Maintenance Fee (For on MSME Loans up to Rs. 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

Cheque /NACH/ SI Bouncing Charges

Rs. 300 + Applicable taxes

vi.

Penal Interest on Overdue EMI

2% month on the Overdue EMI for the Overdue Period

vii.

Legal/Valuation Charges

As per actuals

viii.

Duplicate Interest and Principal Certificate issuance Charge

Rs. 250 + Applicable taxes

ix.

Duplicate No dues Certificate / NOC issuance Charges

Rs. 250 + Applicable taxes

Swap Charges (Cheque/Instrument)

Rs. 500/- per occasion of swapping of the ECS mandate/NACH/ Standing instruction mandate+ Applicable taxes

xi.

Duplicate statement issuance Charges

Rs. 250/- per instance per set + Applicable taxes

xii.

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

Rs. 250/- per instance per set + Applicable taxes

*Nil Processing Fee for MSME loans upto Rs. 5 Lakh.