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Utkarsh Small Finance Bank Home Loan Highlights |
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| Interest Rate | 9.50%-15.00% p.a. |
| Loan Amount | Rs 5 lakh to Rs 5 crore |
| Loan Tenure | Up to 30 years |
| Processing Fees | 1% of loan amount plus applicable taxes |
Note: Interest rates as on 19th November 2024
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Table of Contents |
Utkarsh Small Finance Bank Home Loan Interest Rates
Utkarsh Small Finance Bank Home Loan interest rates range between 9.50% and 15% p.a. Although Utkarsh Small Finance Bank has not specified offering differential interest rates to its home loan applicants based on factors like their credit scores, occupation profile, income, existing loan/credit card obligations (if any), etc., most banks, housing finance companies (HFCs) and non-banking finance companies (NBFCs) set their home loan interest rates based on the factors mentioned above.
| Product Type | Interest Rate (p.a.) |
| Utkarsh Grih Saral | 12.50% to 15.00% |
| Utkarsh Grih Suvidha | 10.00% to 14.00% |
| Utkarsh Grih Unnati | 10.00% to 12.00% |
| Utkarsh Grih Pride | 10.00% to 12.00% |
| Utkarsh Grih Prime | 9.50% to 12.00% |
| Utkarsh Grih Aadhar | 12.50% to 15.00% |
| Utkarsh Grih Sudhar | 10.00% to 14.00% |
Compare Interest Rates on Home Loans for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
| SBI | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | 8.50%-9.85% p.a. | Apply Now |
| HDFC Bank Limited | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.50% - 10.35% p.a. | 8.50% - 10.55% p.a. | 8.50% - 10.75% p.a. | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.85% p.a. onwards | 8.85% p.a. onwards | 8.85% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.65% p.a. onwards | 8.65% p.a. onwards | 8.65% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| Axis Bank | 8.75%-13.30% p.a. | 8.75%-13.30% p.a. | 8.75%-9.65% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
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Utkarsh Small Finance Bank Home Loan Fees and Charges
Utkarsh Small Finance Bank Home Loan Processing fees
| Particulars | Rates |
| Processing fees | 1% of loan amount plus applicable taxes |
Utkarsh Small Finance Bank Home Loan Prepayment / Foreclosure charges
| Particulars | Rates |
| Pre Closure / Pre Payment Charges (for loans availed at fixed interest rates) | ● 2% plus applicable taxes on the outstanding principal amount of home loans
● 4% plus applicable taxes on the outstanding principal amount of home loan plus (top-up) where end use is not for housing purposes |
Other Charges related to Utkarsh Small Finance Bank Home Loans
| Particulars | Rates |
| Legal and Technical Charges | As per actuals |
| Cheque /NACH/ SI Bouncing Charges | Rs 500 plus applicable taxes |
| Penal interest on overdue EMI | 2% per month on overdue EMI |
| List of documents charges | Rs 500 plus applicable taxes |
| Photocopy of property papers | Rs 500 plus applicable taxes |
| Duplicate interest and principal certificate issuance charge | Rs 250 plus applicable taxes |
| Duplicate no dues certificate / NOC issuance charges | Rs 100 plus applicable taxes |
| Swap charges (cheque/instrument) | Rs 500 per occasion of swapping the ECS mandate / NACH / SI mandate plus applicable taxes |
| Duplicate statement issuance charges | Rs 250 per instance per set plus applicable taxes |
| Charges for subsequent set of photocopy of loan agreement/ documents requested by the borrower | Rs 1000 per instance per set plus applicable taxes |
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Types of Utkarsh Small Finance Bank Home Loans
Utkarsh Grih Saral
Loan amount: Rs 5 lakh to Rs 10 lakh
Loan tenure: Up to 30 years
Utkarsh Grih Suvidha
Loan amount: Rs 10 lakh to Rs 25 lakh
Loan tenure: Up to 30 years
Utkarsh Grih Unnati
Loan amount: Rs 25 lakh to Rs 60 lakh
Loan tenure: Up to 30 years
Utkarsh Grih Pride
Loan amount: Rs 60 lakh to Rs 1 crore
Loan tenure: Up to 30 years
Utkarsh Grih Prime
Loan amount: Rs 1 crore to Rs 5 crore
Loan tenure: Up to 30 years
Utkarsh Grih Aadhar
Purpose: For providing housing loans to existing customers of Utkarsh Small Finance Bank
Loan amount: Rs 2 lakh to Rs 5 lakh
Loan tenure: Up to 30 years
Utkarsh Grih Sudhar
Purpose: For repair/extension of existing home or flat
Loan amount: Rs 2 lakh to Rs 50 lakh
Loan tenure: Up to 20 years
Utkarsh Awas Loan
Purpose: The Utkarsh Awas Loan is extended to loan applicants belonging to low income groups (LIG), middle income groups (MIG) and economically weaker sections (EWS) of the society for the purpose of home purchase, construction, extension and repair. It is a credit linked subsidy scheme (CLSS) of the under the Pradhan Mantri Awas Yojna (PMAY) wherein the borrowers are provided subsidy by the government on the interest component of their home loan
Eligibility:
- Salaried individual with at least 2 years’ work experience and minimum 6 months with current employer
- Self-employed applicant or business person with minimum 2 years in business/profession
- Entry age of loan applicants should be lower than 55 years at the time of making the loan application
- Annual income:
- For EWS households: Up to Rs 3 lakh
- For LIG households: Between Rs 3 lakh and up to Rs 6 lakh
- For MIG households: MIG loans are of 2 categories – MIG I and MIG II. MIG I households are those with annual incomes between Rs 6 lakh and Rs 12 lakh. MIG II households are those with annual incomes between Rs 12 lakh and Rs 18 lakh
- The beneficiary family comprises husband, wife, unmarried sons and/or unmarried daughters. The family should not own a pucca house (an all-weather dwelling unit) in the name of the beneficiary or any member of his/her family in any part of India
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Utkarsh Bank Home Loan Eligibility Criteria
The eligibility criteria for availing Utkarsh Small Finance Bank Home Loan are as follows:
- Salaried individuals with minimum work experience of 3 years and at least 1 year experience with current employer
- Self-employed individuals or business persons with at least 3 years of business persons with at least 3 years of business continuity
- The entry age of home loan applicants should be lower than 60 years (for salaried) & 65 years (for self-employed) at the time of availing the home loans.
Loan applicants should check the home loan eligibility criteria set by top banks/HFCs before making the home loan application.
Utkarsh Bank Home Loan Documents Required
Although Utkarsh Small Finance Bank has not provided the list of home loan documents required while applying for housing loans, banks/HFCs/NBFCs usually require their loan applicants to submit the following documents for availing home loans:
- Proof of Identity (any one): PAN Card, Passport, Driving Licence, Voter’s ID Card, Aadhaar Card, etc.
- Proof of Residence (any one): Ration Card, Bank Passbook, Utility bills (telephone / electricity / water / gas), etc.
- Proof of Age (any one): Aadhaar Card, bank passbook, birth certificate, etc.
- Proof of Income (for salaried): Form 16, IT returns of last 3 years, Promotion/Increment letter, payslip of last 3 months, etc.
- Proof of income (for self-employed): Last 3 year IT Returns, Balance Sheet and P&L account statement of the company/firm duly attested by a Chartered Accountant, professional practice licence (for doctors, consultants, etc.), etc.
- Property documents: Copy of the sale agreement, title deeds of the plot, detailed estimate of house construction by an architect/civil engineer, copy of the plans approved by local authorities, etc.
- Proof of business address
- Other documents: Proof of own contribution, last 6 months’ bank statements showing repayment of ongoing loans (if any), details of ongoing loans of individual/business entity, processing fee cheque in favour of the home loan lender
- Additional documents for self-employed: Latest form 26 AS, business profile, list of directors and shareholders with details of individual shareholding certified by CA / CS (if the business entity is a company)
- Partnership Deed (in case of a partnership firm)
- Articles of Association (AOA) and Memorandum of Association (MOA) of the company
Note: Utkarsh Small Finance Bank may ask for additional home loan documents from its loan applicants based on their discretion.