Home Loan Balance Transfer
At Utkarsh Small Finance Bank, we offer the facility to transfer the balance of an existing home loan through the home loan takeover facility. The new loan after takeover is for an amount ranging from 5,00,000 to a maximum of 1,00,00,000. The tenure for such loans range from three years and maximum of 30 years. We offer affordable and attractive interest rates, charged on reducing balance.
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For more information, reach out to us at our nearest branching outlet.
Salaried individual with minimum 3 year's service with 12 months or more in the current job.
Self employed/businessmen should have been in the business/profession for a minimum period of 3 years .
The entry age of borrower/s shall be less than 60 years for salaried & 65 years in case of self employed at the time of availing the loans.
| S.No. | Charge Name | Charges | |||
|---|---|---|---|---|---|
| Loan Priced at Fixed rate of Interest | Loan Priced at Floating rate of Interest |
||||
| i. | Login Fees | Upto ₹10000 plus taxes [Non-refundable] as applicable. To be Adjusted in Processing Fees for all Disbursed Proposals | |||
| ii. | Processing Fee | Upto 2% of Sanctioned amount and applicable taxes | |||
| iii. | Pre Closure Charges on HL Products [Excluding HL Plus] | 2% plus applicable taxes on principal outstanding | |||
| iv. | Part Prepayment Charges on HL Products [Excluding HL Plus] | 1% of the Pre-Payment amount towards principal and applicable taxes | Nil |
||
| v. | Part Prepayment Charges on HL Plus Product | i. To all loans where borrower is an Individual, below matrix to be followed | i. Not Applicable for Individual Borrowers where purpose of loan is other than business. ii. For Loans other than specified above, below matrix to be followed |
||
| 4% of the Pre-Payment amount towards principal and applicable taxes | |||||
| vi. | Pre Closure Charges on HL Plus Product |
i. Applicable to all loans and all loan purpose as per below mentioned matrix. |
|
||
| Date of Loan closure from Date of Disbursement | Date of Loan closure from Date of last Disbursement | ||||
| Upto 6 Months | Upto 6 Months | ||||
| During 07 to 24 months | During 07 to 24 months | ||||
| During 25 months to 36 months | During 25 months to 36 months | ||||
| More than 36 months | More than 36 months | ||||
| vii. | Cheque /NACH/ SI Bouncing Charges | ₹ 300 plus applicable taxes | |||
| viii. | Penal Charges on Overdue EMI | ||||
| ix. | Legal/Valuation Charges | As per actuals | |||
| x. | Stamp Charges | As per actuals | |||
| xi. |
Duplicate issuance of No dues Certificate / NOC |
₹ 250 plus applicable taxes | |||
| xii. |
Swap Charges [Cheque/Instrument/Bank] |
₹ 500/ plus applicable taxes- per occasion of swapping of the PDCs/ECS mandate/NACH/ Standing instruction mandate | |||
| xiii. |
Statement of Account [SOA] issuance Charges |
₹ 250/- per instance per set plus applicable taxes | |||
| xiv. |
Change in Instalment date |
₹ 500 plus applicable taxes. [Difference period interest [if any]to be paid upfront or to be adjusted in subsequent EMI] | |||
| xv. |
Rate Regime change charges [from Floating rate type to Fixed rate type or vice versa] |
0.50% of Principal Loan Amount subject to minimum of ₹ 5000/- per instance per set plus applicable taxes | |||
| xvi. |
Charges for subsequent set of Photocopy of loan agreement/ documents where requested by Borrower |
₹ 1000/- per instance per set plus applicable | |||
| xvii. |
Replacement of Property / Asset / Collateral |
₹4000 plus taxes as applicable, additionally legal and technical charges and expense for release of mortgage on the last property and creation of mortgage on the new property to be borne by customer, Credit concurrence must be obtained. | |||
| xviii. |
Photo Copy of Property papers |
₹ 500 plus applicable taxes | |||
| xix. |
Duplicate Interest and Principal Certificate |
₹ 250 plus applicable taxes | |||
| xx. |
Rate of Interest reduction fee |
₹2500 plus taxes as applicable The "Interest rate reduction charges" are not levied for the regular reduction of the interest rate due to the fluctuation in the linked External/ Internal benchmark rates in floating rate loans. The ‘Interest rate reduction charges’ are levied in other circumstances in both fixed and floating rate loans such as when the Interest rate reduction is exercised due to negotiation with customer during the loan tenure |
|||
| xxi. |
Duplicate Amortization / Repayment schedule issuance charge |
₹500/ plus applicable taxes- Per Instance | |||
| xxii. |
Foreclosure [FC] Statement Charges |
₹ 500 plus applicable taxes - Per Instance | |||
| xxiii. |
DD Cancellation and Reprinting Charges at the time of disbursement |
0.25% of the DD amount or ₹1000 whichever is lower plus applicable taxes | |||
| xxiv. |
Documentation Handling Charges [CERSAI, Cibil report, Courier Charges etc.] |
₹500 plus taxes as applicable for individual customers | |||
| xxv. |
Progress Report/Subsequent Valuation Report |
₹500 plus taxes as applicable | |||
| xxvi. |
Property Paper Retrieval for |
₹ 2000 plus applicable taxes. | |||
| xxvii. |
Duplicate copy of List of Documents [LOD] |
₹ 500 plus applicable taxes. | |||
Apply to Home Loan Balance Transfer
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
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 Finance Bank.
Usually, the collateral would be the house property which is bought with the loan amount or is associated with the loan.
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.
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.
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