Utkarsh Small Finance Bank Home Loan

Utkarsh Small Finance Bank has emerged as a reliable option for eligible applicants to bank on their dreams of getting easy housing loans. Utkarsh Small Finance Bank home loans start at an interest rate of 9.00% per annum. The bank charges a nominal processing fee of 0.25% to 1.00% of the loan amount plus applicable taxes for each application received. The maximum loan amount an applicant can fetch as a Utkarsh Bank home loan is up to Rs. 5 crores for a maximum repayment tenure of up to 30 years. Some of the popular home loan schemes offered by Utkarsh Bank are Utkarsh Grih Saral, Utkarsh Grih Suvidha, Utkarsh Grih Unnati, Utkarsh Grih Pride, Utkarsh Grih Prime, Utkarsh Grih Aadhar, Utkarsh Grih Sudhar, Balance Transfer, and Top-Ups.

Utkarsh Small Finance Home Loan EMI Calculator

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Utkarsh Small Finance Bank Home Loan Key Highlights

Get the lowest interest rates with Utkarsh Small Finance Bank

Loan Amount Up to Rs. 5 crores
Rate of Interest Starts at 9.00% per annum
RPLR
Processing Fee

0.25% - 1.00% of the loan amount

Maximum Tenure for Repayment 30 years
Penal Rate of Interest
Rate Packages Floater/ Fixed
Charges for Prepayment/Foreclosure Floater: Nil | Fixed: 2% + applicable taxes on the outstanding principal amount / 4% + applicable taxes on the outstanding principal amount (top-ups) not for housing purpose

Utkarsh Small Finance Bank Home Loan Interest Rates in 2023

Banks and NBFCs usually make their share of profit by offering home loans to applicants by charging an interest rate. Utkarsh Small Finance Bank's rate of interest starts at 9.00% per annum and may vary depending on the plan chosen and other factors. The table below shows the current Utkarsh Small Finance Bank home loan interest rate in 2023:

Loan Slab Interest Rate for Home Loan
Floater Plan (For Salaried) Starting at 9.00% per annum 
Floater Plan (For Self Employed) Starting at 9.00% per annum 
Fixed Plan (For Salaried) Starting at 9.00% per annum 
Fixed Plan (For Self Employed) Starting at 9.00% per annum 

Interest rates were last updated on 25th September 2023

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Utkarsh Small Finance Bank Home Loan Eligibility Criteria

Utkarsh Bank home loan eligibility includes some general parameters such as age, nationality, employment status, work experience, and minimum income earned. These are easy-to-apply loans both for salaried as well as self-employed applicants.

Eligibility Parameters For Salaried Individuals For Self-Employed Individuals
Age Range (in years) 24 - 60 Years 24 - 65 Years
Nationality Indian Resident/ NRI Indian Resident/ NRI
Minimum Income Earned Nothing Specific Nothing Specific

Utkarsh Small Finance Bank Home Loan Processing Fee and Charges

The Utkarsh Bank home loan processing fee ranges between 0.25% - 1.00% of the loan amount. Apart from the processing fee, the bank charges some other fees, such as charges for document lists, interest certificates, swap charges, legal charges, and so on. The table below highlights the fees levied by Utkarsh Small Finance Bank on housing loan schemes:

Processing Fee

0.25% - 1.00% of the loan amount

Swap Charges(Instrument/ Cheque)

Rs. 500 per instance + applicable taxes

EMI/ Cheque Bounce Charges

Rs. 300 per instance

Charges for List of Documents

Rs. 100 + applicable taxes

Photocopy of Property Papers

Rs. 500 + applicable taxes

Technical and Legal Charges

As per actuals

Duplicate Interest and Principal Certificate Issuance Charges

Rs. 250 + applicable taxes

Duplicate No Dues Certificate or NOC Issuance Charges

Rs. 250 + applicable taxes

Penal Interest or Late Fee Charges

2% per month on the overdue EMI

Foreclosure/ Prepayment Charges
  • Floater: Nil
  • Fixed: 2% + applicable taxes on the outstanding principal amount / 4% + applicable taxes on the outstanding principal amount (top-ups) not for housing purpose
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Utkarsh Small Finance Bank Home Loan Schemes and Top Plans

Options are galore when choosing a housing loan scheme from Utkarsh Small Finance Bank. Listed below are the best home loan plans offered by Utkarsh Bank:

1. Utkarsh Grih Saral Loan

  • Ideal home loan scheme for aspiring homeowners to buy a ready-to-move-in home or under-construction home
  • Loan amounts ranging between Rs. 5 lakhs to Rs. 10 lakhs
  • The repayment tenure is between 36 - 360 months

2. Utkarsh Grih Sudhar Loan

  • Best housing loan scheme to renovate or improve an existing home
  • Loan amounts ranging between Rs. 2 lakhs to Rs. 50 lakhs
  • The repayment tenure is between 36 - 240 months

3. Utkarsh Grih Aadhar Loan

  • An exciting home loan for existing customers to meet their housing needs
  • Loan amounts ranging between Rs. 2 lakhs to Rs. 5 lakhs
  • The repayment tenure is between 36 - 360 months

4. Utkarsh Grih Prime Loan

  • An affordable housing loan with a lower rate of interest
  • Loan amounts ranging between Rs.  1 crore to Rs. 5 crore
  • The repayment tenure is between 36 - 360 months

5. Utkarsh Grih Unnati Loan

  • Exciting home loan with easy approvals for the purchase or renovation of a home
  • Loan amounts ranging between Rs. 2.5 lakhs to Rs. 6 lakhs
  • The repayment tenure is between 36 - 360 months

6. Utkarsh Grih Suvidha Loan

  • Affordable housing loans for eligible applicants at a lower rate of interest
  • Loan amounts ranging between Rs. 10 lakhs to Rs. 25 lakhs
  • The repayment tenure is between 36 - 360 months

7. Utkarsh Grih Pride Loan

  • Easy home loan with quick approval
  • Loan amounts ranging between Rs. 60 lakhs to Rs. 1 crore
  • The repayment tenure is between 36 - 360 months

8. Utkarsh Awas Loan

  • Affordable housing loan under the PMAY Scheme
  • Best home loans for lower-income and middle-income groups
  • Lower rate of interest with a subsidy

Note: All of the above home loan plans are made available to applicants solely at the discretion of Utkarsh Small Finance Bank, taking into consideration the earning and repayment capacity of the applicant.

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Documents Required For Utkarsh Small Finance Bank Home Loan

To approve home loans to eligible applicants, the bank asks for a set of KYC documents, which may vary for salaried and self-employed borrowers. Listed below is the Utkarsh Small Finance Bank home loan documents list for your reference:

Documents Required for Salaried Applicants

Proof of Income
  • Salary slips for the last 3 months
  • Form 16
  • Income Tax Returns for the last 3 years
  • Promotion/ Increment Letter
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Utkarsh Small Finance Bank Home Loans

Documents Required for Self-Employed Applicants

Proof of Income
  • Business Address Proof
  • Professional Practice License 
  • Profit and Loss Account Statements for the last 3 years attested by a CA
  • Balance sheet for the past 3  years
  • ITR for the last 3 years
  • Form 16
  • Latest Form 26AS
  • Articles of Association and Memorandum of Association of the company
Other Required Documents
  • Duly filled and signed application form with a passport-size photograph
  • A processing fee cheque in favor of Utkarsh Small Finance Bank Home Loans
  • Bank Statements showing repayment of any ongoing loan for the last 6 months

Common Documents Required from Both Salaried and Self-Employed Applicants

Type of Document Documents Required
Identity & Address Proof

Voter ID, Driving License, Aadhaar Card, Copy of Passport, PAN Card

Documents Related to Property
  • Sale Deed, Allotment Letter
  • Certificate of Occupancy
  • Payment receipts for payments made to the builder
  • Permission to construct
  • Copy of approved plan
  • Registered Development Agreement of the builder
  • NOC (No Object Certificate from the builder or the housing society)

Interest rates were last updated on 15 July 2023

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How to Apply for Utkarsh Small Finance Bank Home Loan?

The procedure for a Utkarsh Finance home loan application is quite simple and can be done in the following manner:

  • Proceed to the APPLY NOW section on the website - BASIC Home Loan
  • Fill in the form by entering your Name and contact details and submit the form
  • The team from BASIC Home Loan will reach out to you to initiate a hassle-free Home Loan application process

Find Utkarsh Small Finance Bank Home Loan Offices Near You

If you are planning to visit one of the offices of Utkarsh Small Finance Bank Home Loans near you to understand the Utkarsh Small Finance Bank Loan Offer in detail and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.

Disclaimer:

For the latest Home Loan Interest rates and updates in Eligibility criteria, Home Loan offers, Home Loan application Fee and Charges, Required Documents, and other FAQs related to Home Loans, please refer to the official website of Utkarsh Small Finance Bank Home Loans.

FAQs

The current interest rate of a home loan in Utkarsh Small Finance Bank starts at 9.00% per annum.

Yes, Utkarsh Small Finance Bank Limited, or USBL, is registered under the RBI Section 22 (1) of the Banking Regulation Act 1949 as a Scheduled Commercial Bank.

There is nothing specific about the minimum salary required to apply for a Utkarsh Bank home loan. However, a salaried applicant is expected to have a total work experience of 3 years and at least 1-year experience with the current employer.

Utkarsh Small Finance Bank is a public company with limited liability and is subject to the Companies Act, 2013 provisions.

There is a complete variety of housing loans offered by Utkarsh Bank, such as:

  • Utkarsh Grih Saral Loan
  • Utkarsh Grih Sudhar Loan
  • Utkarsh Grih Aadhar Loan
  • Utkarsh Grih Prime Loan
  • Utkarsh Grih Unnati Loan
  • Utkarsh Grih Suvidha Loan
  • Utkarsh Grih Pride Loan
  • Utkarsh Awas Loan

The eligible age to apply for a Utkarsh Home Loan is 24 - 60 years (Salaried)/ 24- 65 years (Self-Employed) applicants. 

The maximum loan amount offered by Utkarsh Small Finance Bank is up to Rs. 5 crores.

Utkarsh Small Finance Bank doesn’t charge anything for the foreclosure of a floater plan. It charges 2% of the outstanding loan amount plus applicable taxes for fixed and 4% of the outstanding loan amount plus applicable taxes for top-ups.