LAP Retail
At Utkarsh Small Finance Bank, these loans are provided to salaried, self-employed professionals and self-employed non-professionals and range between 2,00,000 to 3,00,00,000 and 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 and are offered at an affordable interest rate.
In addition, the Bank offers - Utkarsh Elite
The maximum loan amount under these variants is 3,00,00,000.
Get
Rewards
1 reward point on every 100 spends on debit card
Get
15% discount
1 reward point on every 100 spends on debit card
Get
Free
Cash withdrawal on Utkarsh Bank ATMs
Loans starting from 2,00,000 to 3,00,00,000
Loan tenure: 36 months to 180 months
Repayment in easy Equated Monthly Installment (EMI)
Foreclosure Allowed during the tenure of the loan
NACH/SI allowed for loan repayment
| 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 |
| Sr. No | Charge Name | Charges | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| i | Processing Fee* | Upto 2% of Loan Amount + Applicable taxes | ||||||||||
| ii | Account Maintenance Fee [For on MSME Loans up to | Upto 2% of Loan Amount + applicable taxes | ||||||||||
| iii | Pre Closure Charges [Loan Priced at Fixed Rate of Interest] |
|
||||||||||
| 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 | |||||||||||
| 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 |
Apply to LAP Retail
Loan calculator
|
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 Retail loan starting from 2 Lakhs to 1 Crores.
The tenure for LAP Retail is between 36 months to 120 months.
Individuals.
You can either visit your nearest Utkarsh Small Finance Bank's branch or write to us at communications@utkarsh.bank, let us know about your requirement and we will get in touch with you.
You may also be interested in
Savings
Earn up to 7.75 %* on your Savings Account and get interest credited quarterly
Deposits
Earn interest rates up to 8.50 %* p.a. and 9.10 %* p.a. for Senior Citizens
Loans
Get Loan amount upto 10 Crores with Flexible Tenure upto 15 years
Insurance & Investment
Turn your surplus funds into security, for a better tomorrow
Location
You are never too far away from quick banking, check nearest Bank and ATM
Contact
Incase you wish to speak to our banking experts for resolution
Write to us
Whether it be a simple suggestion or feedback or an inquiry.