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.
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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 |
|
S. No
|
Charge Name |
Charges |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Loan Priced at Fixed rate of Interest |
Loan Priced at Floating rate of Interest |
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| i. | Login fee | Upto ₹10000 plus taxes [Non-refundable] as applicable. To be Adjusted in Processing Fees for all Disbursed Proposals | |||||||||||||||||||
| ii. | Processing Fee* | Upto 2% of Loan Amount + Applicable taxes | |||||||||||||||||||
| iii. | Pre Closure Charges | i. Not Applicable in case of Micro & Small Enterprises [MSE] for Loan Amount up to Rs. 50 lakh. ii. For Loan Amount greater than 50 Lakh and MSE borrower category, below matrix to be followed iii. Applicable to all loans where borrower is an Individual |
i. Not Applicable for Loans availed by MSE borrowers. ii. Not Applicable for Individual Borrowers where purpose of loan is other than business. iii. For Loans other than specified above, below matrix to be followed |
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| iv. |
Part Prepayment Charges
|
i. Not Applicable in case of Micro & Small Enterprises [MSE] for Loan Amount up to Rs. 50 lakh. Ii. For Loan Amount greater than 50 Lakh and MSE borrower category below matrix to be followed iii. Applicable to all loans where borrower is an Individual |
i. Not Applicable for Loans availed by MSE borrowers. Ii. Not Applicable for Individual Borrowers where purpose of loan is other than business. Iii. For Loans other than specified above below matrix to be followed |
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| 4% of the Pre-Payment amount towards principal plus applicable taxes | |||||||||||||||||||||
| v. | Cheque /NACH/ SI Bouncing Charges | 300 + Applicable taxes |
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| 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. | Foreclosure [FC] Statement Charges | ₹ 500 plus applicable taxes | |||||||||||||||||||
| ix. | Documentation Handling Charges [CERSAI, Cibil report, Courier Charges etc.] | ₹500 plus taxes as applicable for individual customers ₹1500 plus taxes as applicable for non-individual customers |
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| x. | DD Cancellation and Reprinting Charges at the time of disbursement | 0.25% of the DD amount or ₹1000 whichever is lower plus applicable taxes | |||||||||||||||||||
| xi. | ROC Filling Charges | As per actuals | |||||||||||||||||||
| xii. | Stamp Charges | As per actuals | |||||||||||||||||||
| xii. | Duplicate issuance of No dues Certificate / NOC | 250 + Applicable taxes |
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| xiv. | Swap Charges [Cheque/Instrument/Bank] | ₹ 500/ plus applicable taxes- per occasion of swapping of the PDCs/ECS mandate/NACH/ Standing instruction mandate |
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| xv. | Statement of Account [SOA] issuance Charges | 250/- per instance per set + Applicable taxes |
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| xvi. | Change in Instalment date | ||||||||||||||||||||
| xvii. | Rate Regime change charges [from Floating rate type to Fixed rate type or vice versa] | ||||||||||||||||||||
| xviii. | Charges for subsequent set of Photocopy of loan agreement/ documents | ||||||||||||||||||||
| xix. | Replacement of Property / Asset / Collateral | ||||||||||||||||||||
| xx. | Photo Copy of Property papers | ||||||||||||||||||||
| xxi. |
Property Paper Retrieval for Verification/Inspection/For Lease Deed from Development Authority/Nagar Palika* |
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| xxii. | Duplicate Amortization / Repayment schedule issuance charge | ||||||||||||||||||||
| xxiii. | Duplicate copy of List of Documents [LOD] | ||||||||||||||||||||
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 |
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(Indicative interest rates for calculation only. click here for latest rates.) |
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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.
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