Home Loan
Utkarsh Small Finance Bank provides affordable housing loans to self-employed and salaried individuals. Our housing loan offerings are targeted towards formal, informal and semi-formal income segments and are provided for purchase/construction of plots, purchase/construction of house, improvement/restoration/extension of home.
Utkarsh Grih Saral: Loans ranging between 5,00,000 and 10,00,000 it has a repayment tenure between 36 and 360 months. Rate of interest starting from 12.50% to 15% per annum on reducing balance.
Utkarsh Grih Suvidha: Loans range between 10,00,001 and 25,00,000 with a repayment tenure between 36 and 360 months. The rate of interest starting from 10% to 14% per annum on reducing balance.
Utkarsh Grih Unnati: Loans range between 25,00,001 and 60,00,000 with a repayment tenure between 36 and 360 months. The rate of interest starting from 10% to 12% per annum, on reducing balance.
Utkarsh Grih Pride : Loans range between 60,00,001 and 1,00,00,000 with a repayment tenure that ranges between 36 to 360 months. The rate of interest charged typically starting from 10% to 12% per annum with the interest being charged, on reducing balance.
Utkarsh Grih Prime: Loans range start from 1,00,00,001 and goes up to 5,00,00,000 with a repayment tenure that ranges between 36 to 360 months. The rate of interest charged typically starting from 9.50% to 12% per annum with the interest being charged, on reducing balance.
Utkarsh Grih Aadhar: Extended for existing customers of Utkarsh Small Finance Bank for housing purposes. Loan amounts range between 2,00,000 and 5,00,000 and has a repayment tenure between 36 to 360 months. Interest rate starting from 12.50% to 15% per annum, on reducing balance.
Utkarsh Grih Sudhar: These loans range between 2,00,000 and 50,00,000 with a repayment tenure that ranges between 36 to 240 months. The rate of interest charged ranges between 10% and 14% per annum with the interest being charged on reducing balance.
Utkarsh Awas Loan: These loans are offered for purchase/ construction/ extension/ improvement of home and is extended to borrowers belonging to economically weaker sections/ lower income group/ and middle income group segment. It is a credit linked subsidy scheme under the Pradhan Mantri Awas Yojna whereby eligible borrowers are provided a subsidy by the government on the interest component of the loan to make the home loan affordable to borrowers.
Home Loan Balance Transfer: 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. Interest rate starts from 10% per annum with interest being charged on reducing balance
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Avail a home loan for the purpose of purchasing a plot of land and constructing a house thereon, purchasing or constructing a new house or flat, purchasing an existing house or flat as well as for extending an existing house.
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Salaried individual with minimum 3 year's service with 12 months or more in the current job.
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Self employed/businessmen should have been in the business/profession for a minimum period of 3 years .
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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 |
|---|---|---|
| i. | Processing Fees | 1% of Sanction Amount + applicable taxes |
| ii. | Legal and Technical Charge | As per actuals |
| iii. | Cheque /NACH/ SI Bouncing Charges | 500 + Applicable taxes |
| iv. | Pre Closure / Pre Payment Charges [Loan Priced at Fixed Rate of Interest] | 2% + Applicable taxes on principal outstanding of Home Loan Products where end use is Housing 4% + Applicable taxes on principal outstanding of Non Home Loan Products [Home Loan Plus] where end use is not Housing |
| v. | Penal Charges on Overdue EMI | 2% per month on overdue amount for overdue period along with applicable taxes. |
| vi. | List of Documents Charges | 500 + Applicable taxes |
| vii. | Photo Copy of Property papers | 500 + Applicable taxes |
| viii. | Duplicate Interest and Principal Certificate issuance Charge | 250 + Applicable taxes |
| ix. | Duplicate No dues Certificate / NOC issuance Charges | 100 + 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 |
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Loan calculator
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Interest Rate 8.00% |
Interest Earned 3,50,452 |
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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
Yes, you may avail the benefit of reduced interest rate on your home loan in case you opt for a floating rate loan and there is reduction in the base rate.
More often than not, the house property, bought with the loan amount is the collateral or security until the loan is repaid in full.
It is advisable to register the agreement of sale between the builder/ seller and the purchaser as it is mandatory as per the Indian Laws.
Depending on your requirement of funds, the home loan may be disbursed in full or in installments. Disbursement will happen as per the discretion of Utkarsh Small Finance Bank.
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