Ujjivan Bank Home Loan
Ujjivan Bank Home Loans starting at just 8.75% p.a.
The Commercial Property Purchase Loan, or a Non-Residential Property Loan, is a Read More...
Ujjivan Bank Home Loan Highlights
| Loan Amount | Upto 90% of property cost |
|---|---|
| Tenure | Upto 20 years |
| Rate of Interest | 8.75% onward |
| Processing Fee | Upto ₹3350 of the loan amount |
| Max Tenure | 20 years |
| Foreclosure Charges | Nil |
Ujjivan Bank Home Loans Comparison Table
Compare Ujjivan Bank Home loan interest rates with other lenders to find the best deal. See how Ujjivan Bank competitive rates stack up in our comprehensive comparison table.
| Name of Lender | Amount Up to | Interest Rate | Tenure |
|---|---|---|---|
| Axis Bank | ₹10 cr | 8.75% Onwards | Up to 20 years |
Ujjivan Bank Home Loan EMI calculator
Enter the loan amount, interest rate, and loan tenure into the Ujjivan Bank home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.
EMI: ₹63,337.89
Total interest: ₹26,00,546.8
Total principal: ₹50,00,000
Ujjivan Home Loan Interest Rates
| Home Loan Schemes | Interest Rates |
|---|---|
| Home Purchase and Construction Loan | 8.75% p.a. to 16.75% p.a. |
| Composite Home Loan (Plot purchase & Self-construction) | 8.75% p.a. to 17.75% p.a. |
| Home Improvement Loan | 8.75% p.a. to 17.75% p.a. |
The final home loan interest rates offered to the loan applicant would vary according to the credit score, monthly income, job profile, employer’s profile, etc. of the home loan applicant.
Ujjivan Home Loan Fees and Charges
Processing fee
Ujjivan Small Finance Bank charges a processing fee of Rs 3,350 for a home loan.
Foreclosure and Part-payment Charges
Foreclosure Charges (applicable only under fixed rate of interest period)- If own funds: NIL
- If loan transfer to other bank: 3%
Part Payment charges
- NIL
Other Fees and Charges
- CLADUM Charges (Credit, Legal, Administrative, Documentation, Upkeep and Maintenance Charges): Up to 2% of the loan amount + G.S.T
- CERSAI Charges:
- For loan amounts above Rs 5 Lakh: Rs 100+ taxes
- For loan amounts below Rs 5 Lakh: Rs 50 + taxes
- Loan Cancellation Charges: Up to 2%
- ECS/ACH/Cheque Bounce: Rs 250
- Stamp duty and registration cost: On actuals to be paid to registration department
- Duplicate amortization schedule issuance charge: Rs 100 per instance
- Duplicate statement issuance charge: Rs 100 per instance
Ujjivan Bank Home Loans Eligibility
Home Purchase and Construction Loan
Composite Home Loan
Home Improvement Loan
Home Purchase and Construction Loan
Purpose: Home loan facility offered for purchasing or constructing new houses
LTV Ratio: Rs 2 Lakh to Rs 75 Lakh
Tenure: 39 months to 20 years
Ujjivan Home Loan Eligibility Criteria
Ujjivan Small Finance Bank factors in the applicant’s income and loan requirement for home loan eligibility. Other factors such as age, liabilities, assets owned, and credit score can also be considered for home loan.
| Criteria | Details |
|---|---|
| Age | 18-75 years |
| Income |
|
| Credit Score | Preferably 750 or above |
| Occupation Type | Salaried and Self-Employed Professionals/Non Professionals |
| Job/Business Stability |
|
How to Apply for Ujjivan Bank Home Loan?
Prospective borrowers interested in an Ujjivan Bank home loan have the option to apply online either through the bank's official website, as outlined below:
Apply here
Via the Ujjivan Bank Official Website
- Visit the Ujjivan Bank Home Loan official website.
- Click on Apply now
- Enter the necessary details to determine the eligible loan amount.
- Complete the required information on right side and tap "Submit".
Documents Required for Ujjivan Bank Home Loan
Following is the list of documents required for different categories of customers
Ujjivan Bank Home Loan list of documents for Salaried
Ujjivan Bank Home Loan list of documents for Self-employed professionals
Ujjivan Bank Home Loan list of documents for Self-employed
Ujjivan Bank Home Loan list of documents for Farmers
Ujjivan Bank Home Loan list of documents for non-resident Indians (NRIs)
Ujjivan Bank Home Loan list of documents for Salaried
- Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
- Income proof, such as the last 3 months' salary slip, the latest Form 16, and a six-month bank statement.
- A Cheque for The Processing Fee for The Loan Application
- Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.
Property Related Documents
For New Home- Allotment letter copy/Buyer agreement
- Payment receipt made to the developer
- Title deeds including previous chain of property documents
- Agreement to sell copy
- Initial payment receipt made to the seller
- Title deed of plot
- Copy of the plan approved by Local Authorities
- No encumbrance proof on the property
- The total estimate of construction by a Civil Engineer/Architect
Ujjivan Bank Home Loan FAQ’S
Here are some of the frequently asked questions with regards to Ujjivan Bank Home Loan
What is the current interest rate for Ujjivan Bank home loans?
Ujjivan Bank offers home loans starting from 8.75% p.a., varying based on the applicant's credit profile.
How do I calculate the interest cost for my Ujjivan Bank home loan?
You can determine the interest cost using the Ujjivan Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.
What factors contribute to the fluctuation of Ujjivan Bank home loan interest rates?
Ujjivan Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing Ujjivan Bank home loan borrowers. Additionally, Ujjivan Bank may modify the spread over benchmark rates during special or festive home loan offers.
Who is eligible to be a co-applicant for an Ujjivan Bank Housing Loan?
Co-owners of the property must also be co-applicants for the Ujjivan Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.
Can I make early payments toward my outstanding home loan amount?
Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. Ujjivan Bank does not impose prepayment charges on home loans with floating interest rates.
How can I lower my Ujjivan Bank Home Loan interest rate?
You can reduce your Ujjivan Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. Ujjivan Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.
What are the pre-closure charges for Ujjivan Bank home loans?
Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.
What is the disbursement process for Ujjivan Bank Home Loans?
After property and document verification and completion of the 'own contribution' or down payment, Ujjivan Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.
Is my spouse's income considered in calculating the home loan amount?
Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to Ujjivan Bank for consideration.
What is the minimum credit score required for Ujjivan Bank Home Loan applicants?
While Ujjivan Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.
Can I secure home loan approval while still deciding on a property?
Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.
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