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
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KYC
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Application form
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Original Property Papers
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Documents as per product norms
| 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) |
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| 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 Interest on Overdue EMI | 2% month on the Overdue EMI for the Overdue Period | ||||||||||
| 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
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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
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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