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Ujjivan Small Finance Home Loan Details

Loan amountUp to 90% of Property Value
Rate of interest13.75% onwards
TenureUp to 20 years
Lowest EMI possibleRs. 1225 Per Lakh
Processing feeRs. 3350 + GST
Foreclosure ChargesNil for floating rates
Penal Interest Rate2% 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 productIdeal forMaximum amountROITenure
Construction and Purchase LoanPurchasing or constructing houses/flatsRs. 75 Lakhs13.75% to 15.75%240 months
Composite Home LoanPurchase a plot of land and build a house on itRs. 50 Lakhs13.75% to 15.75%240 months
Home Improvement LoanHome repairs and renovationsRs. 25 Lakhs15.75%180 months
Home Equity LoanDebt consolidationRs. 75 Lakhs15.75% 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

ParticularsCharges
Login FeesRs. 3,350
Other Charges CLADUM Charges
  • 2% of the loan amount for formal loans
  • 1.50% for informal loans up to Rs. 25 lakhs
  • 1% for informal loans above Rs. 25 lakhs
Life Insurance and Property InsurancePremium 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 chargesRs. 250
Late payment EMI2.50% of the overdue amount
Stamp Duty and RegistrationAs per actuals
Duplicate statement issuance chargesRs. 100 per instance
Duplicate amortisation schedule issuance chargesRs. 100 per instance
Issuance of photocopies of documentsRs. 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

LenderMaximum Loan AmountMaximum TenureInterest RateProcessing Fee
Ujjivan BankUp to 90% of property cost20 years13.75%Rs. 3,350 + GST
ICICI Bank Home LoanUp to 90% of property cost30 years7.60% - 8.45%0.50% - 2% or Rs. 1,500 (Rs. 2,000 for Mumbai, Delhi & Bangalore), whichever is higher + GST
HDFC LtdUp to 90% of property cost30 years7.55% - 8.05%Up to 1.50% or Rs. 4,500 (whichever is higher) + applicable taxes
Axis Bank Home LoanRs. 5 Crores30 years7.60% - 8.05%Up to 1%, minimum Rs.10,000
Kotak Mahindra Home Loan75% to 90 % of property value30 years7.50% - 8.10%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

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Ujjivan Small Finance Bank Home Loan FAQs

✅ When is the login fee payable in an Ujjivan Bank Home Loan?

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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.

✅ What are CLADUM charges?

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CLADUM charges are additional fees payable by the borrower when applying for a home loan. The CLADUM charges comprise the following.

  • Credit fees
  • Legal fees
  • Administrative fees
  • Documentation fees
  • Upkeep of documents fees
  • Maintenance fees

Usually, it is in the range of 1% to 2% of the loan amount plus applicable GST.

✅ What is the margin amount on home loans?

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Ujjivan Bank stipulates a margin of 10% to 25% of the loan amount depending on the loan amount. The LTV ratio is ideally between 75% to 90% of the value of the property.

✅ Why is the rate of interest high in the case of Ujjivan Bank Home Loans?

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Ujjivan Bank is a small finance bank. These banks have a different rate of interest structure as compared to nationalised and other commercial banks. They stipulate their interest margins depending on their financial position. Though it appears high, the interest rates of Ujjivan Bank are among the lowest when you consider other small banks and NBFCs.

✅ What type of home loans does Ujjivan Bank provide?

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Ujjivan Bank provides the following types of home loans.

  • Loans for purchase of new or second-hand houses or apartments
  • Construction of a new home or buy a flat/house under construction
  • Purchase a plot of land and develop your home thereon
  • Loans for carrying out repairs and renovations to the existing house

✅ Who is the primary target group of Ujjivan Bank?

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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.

✅ Does Ujjivan Bank concentrate on the rural poor alone?

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Though the rural poor is its primary target, Ujjivan Bank caters to other sections of society like the urban and metro population.

✅ Does Ujjivan Bank offer a home loan BT facility?

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No, Ujjivan Bank does not have a home loan balance transfer facility today. It might offer the same one day in the future.

✅ How does Ujjivan Bank charge interest on the home loan?

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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

✅ How can one repay the Ujjivan Bank Home Loan?

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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.