Ujjivan Small Finance Bank Home Loan
Apply for Ujjivan Small Finance Bank Home Loan up to Rs 75 Lakhs at competitive home loan interest rate starting from 8.75% p.a. Ujjivan Small Finance Bank Ltd offers affordable home loans for purchase, construction and home improvement to a wide range of customers. Processing fee is flat Rs 3350 + GST and repayment tenure can go up to 240 months. Borrower can avail swift home loan assistance online.
Apply for UJJIVAN Small Finance Home Loan @ 8.75% Interest Rates
Ujjivan Small Finance Home Loan Details
| Loan amount | Up to 90% of Property Value |
|---|---|
| Rate of interest | 8.75% |
| Tenure | Up to 20 years |
| Lowest EMI possible | Rs. 900 Per Lakh |
| Processing fee | Rs. 3350 + GST |
| Foreclosure Charges | Nil for floating rates |
| Penal Interest Rate | 2% per month |
You can also Apply for 50 Lakh Home Loan
Ujjivan Home Loan Features and Benefits
- Home loans are available to meet all housing requirements.
- Loans are available for purchase or construction of houses or flats.
- Ujjivan Bank provides loans for the purchase of a plot of land and construct your house subsequently.
- The bank offers home loans for renovations and repairs to existing homes.
- The rates of interest are competitive when compared to its peer banks.
- The bank offers extended repayment tenures up to 240 months.
- Ujjivan Bank has a transparent service charge structure.
- The bank has one of the most simplified eligibility norms for home loans.
- Ujjivan Bank provides loans to eligible borrowers under the Pradhan Mantri Awas Yojana.
Ujjivan Home Loan Interest Rates
| Loan product | Ideal for | Maximum amount | ROI | Tenure |
|---|---|---|---|---|
| Construction and Purchase Loan | Purchasing or constructing houses/flats | Rs. 75 Lakhs | 13.75% to 15.75% | 240 months |
| Composite Home Loan | Purchase a plot of land and build a house on it | Rs. 50 Lakhs | 13.75% to 15.75% | 240 months |
| Home Improvement Loan | Home repairs and renovations | Rs. 25 Lakhs | 15.75% | 180 months |
| Home Equity Loan | Debt consolidation | Rs. 75 Lakhs | 15.75% to 17.75% | 180 months |
Additional Info: Also check DDA Housing Scheme
Ujjivan Small Finance Home Loan Documents Required
The applicants should provide the following documents at the time of applying for the home loan:
- Home Loan Application Form duly filled in all respects
- Application Form Annexure completed
- 2nd co-borrower and Guarantor sheet If applicable
- Identity proof for the applicant and all co-applicants Two copies (One for insurance)
- Residence Proof for all applicants and guarantor Two copies (One for insurance)
- Signature Proof for all applicants and guarantor
- Passport-sized photograph for all applicants and guarantor
- Business address proof if applicable
- Bank passbook for the last six months of all applicants
- Income proof Business or salary for applicants and guarantor
- Photograph of the borrower with the business unit in the background
- Photograph of the applicant with the property in the background
- Photocopies of all title-related documents
- Cost estimate in the case of self-construction and home improvement loans
- All KYC details of the guarantor
- Product Feature Slip
Additional Info: Also check Documents Required For Home Loan
Ujjivan Home Loan Schedule of Charges
| Particulars | Charges |
|---|---|
| Login Fees | Rs. 3,350 |
| Other Charges CLADUM Charges |
|
| Life Insurance and Property Insurance | Premium to be paid by borrower and deducted by a netting of the loan amount |
| Prepayment charges - only during fixed-rate of interest period | Own source of funds No charges Other sources 2% of the outstanding amount |
| CERSAI charges | Loans up to an amount of Rs. 5 lakhs = Rs. 50 Loans more than 5 lakhs = Rs.100 |
| Bounce charges | Rs. 250 |
| Late payment EMI | 2.50% of the overdue amount |
| Stamp Duty and Registration | As per actuals |
| Duplicate statement issuance charges | Rs. 100 per instance |
| Duplicate amortisation schedule issuance charges | Rs. 100 per instance |
| Issuance of photocopies of documents | Rs. 500 per instance |
Additional Info: Also check AnyRoR Gujarat Land Record
Types of Ujjivan Home Loan
Construction and Purchase Loan
Purpose of the loan
- Development and purchase of house or apartments
Loan Amount
- Minimum = Rs. 2 lakhs
- Maximum = Rs. 75 lakhs
Rate of Interest
- 13.75% to 15.75%
Login Fee
- Rs. 3,350 + GST applicable
Loan repayment Tenure
- Minimum 36 months
- Maximum 240 months
Other Charges
- 1% - 2% of loan amount + GST applicable
Composite Home Loan
Purpose of the loan
- Purchase a vacant plot of residential land and construct house thereon
Loan Amount
- Minimum = Rs. 2 lakhs
- Maximum = Rs. 50 lakhs
Rate of Interest
- 13.75% to 15.75%
Login Fee
- Rs. 3,350 + GST applicable
Repayment tenure
- Minimum 36 months
- Maximum 240 months
Other charges
- 1.50% to 2% of the loan amount + GST applicable
You can also Check for What are the Different Types of Home Loans in India?
Home Improvement Loan
Purpose
- Repairs and renovations to existing homes
Loan Amount
- Minimum = Rs. 2 lakhs
- Maximum = Rs. 25 lakhs
Rate of Interest
- 15.75%
Login Fee
- Rs. 3,350 + GST applicable
Repayment tenure
- Minimum = 36 months
- Maximum = 180 months
Other charges
- 2% of the loan amount + GST applicable
Home Equity Loan (Non-housing loan)
Purpose
- Debt Consolidation
- Refinance for constructed or purchased building
- Mixed usage of loans
- Funding of mixed properties
Loan amount
- Minimum = Rs. 2 lakhs
- Maximum = Rs. 75 lakhs
Rate of Interest
- 15.75% to 17.75%
Login Fee
- Rs. 3,350 + GST applicable
Repayment Tenure
- Minimum = 36 months
- Maximum = 180 months
Other Charges
- 2% of the loan amount + GST applicable
Commercial Purchase Loan (Non-housing loan)
Purpose
- Purchase of commercial space and office outlet
Loan amount
- Minimum = Rs. 5 lakhs
- Maximum = Rs. 30 lakhs
Rate of Interest
- 18.75% to 20.75%
Login Fee
- Rs. 3,350 + GST applicable
Repayment Tenure
- Minimum = 36 months
- Maximum = 84 months
Other Charges
- 2% of the loan amount + GST applicable
Additional Info: Also check Banglarbhumi West Bengal Land Record
Ujjivan Home Loan Comparison with Other Lenders
| Lender | Maximum Loan Amount | Maximum Tenure | Interest Rate | Processing Fee |
|---|---|---|---|---|
| Ujjivan Bank | Up to 90% of property cost | 20 years | 8.75% | Rs. 3,350 + GST |
| ICICI Bank Home Loan | Up to 90% of property cost | 30 years | 7.70% | 0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST |
| HDFC Bank | Up to 90% of property cost | 30 years | 7.90% - 9.00% | Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes |
| Axis Bank Home Loan | Rs. 5 Crores | 30 years | 8.75% - 11.60% | Up to 1%, minimum Rs.10,000 |
| Kotak Mahindra Home Loan | 75% to 90 % of property value | 30 years | 7.99% | O.5% to 2.0 % + GST |
Additional Info: You can also avail Canfin Home Loan
Ujjivan Small Finance Home Loan Customer Care
- Phone - 1800-208-2121
- Email Id - customercare@ujjivan.com
Ujjivan Small Finance Bank Home loan FAQs
The Login fee is upfront and non-refundable fee payable at the time of applying for the home loan. The login fee amount is Rs. 3,350 plus GST. In the case of approval of the loan, the login fee is adjusted against the processing fee.
Ujjivan Bank stipulates a margin of 8.75% of the loan amount depending on the loan amount. The LTV ratio is ideally between 75% to 90% of the value of the property.
Ujjivan Bank caters to all types of customers. However, their primary target is the economically poor people who do not have access to financial institutions like banks and NBFCs.
Though the rural poor is its primary target, Ujjivan Bank caters to other sections of society like the urban and metro population.
Ujjivan Bank charges interest on a reducing balance basis on the home loan. It is the best way of charging interest, as it provides maximum benefit to the borrower
Ujjivan Bank offers a specific online portal for paying your EMI. Access the Repay Loan option and enter your details. Choose the collection types, enter the amount and proceed with the payment online. An alternate mode of payment is through PDCs and ECS mandates.