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 | |||
|---|---|---|---|---|---|
| Loan Priced at Fixed rate of Interest | Loan Priced at Floating rate of Interest |
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| 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 |
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| 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 |
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| 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. |
|
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| 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 |
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| 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. | |||
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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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