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 2,00,00,000 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 & LAP BT Multiplier for existing borrowers.
The maximum loan amount under these variants is 2,00,00,000.
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Loans starting from 2,00,000 to 1,00,00,000
Loan tenure: 36 months to 120 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 |
250/- 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 [email protected], let us know about your requirement and we will get in touch with you.
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