Ujjivan Small Finance Bank has customised home loans for constructing, purchasing or renovating houses and loans against property. The affordable housing loan schemes have a minimum loan amount of INR 2 lakhs, interest rates start from 13.75% pa, and the tenure can go up to 240 months. The bank checks the applicant’s CIBIL score before approving the loan.
Check Latest Home Loan Offer From Ujjivan Small Finance
Compare Ujjivan Small Finance Home Loan Interest Rates with Other Lenders
The home loan interest rates offered by Ujjivan Small Finance Bank are contrasted with those offered by other banks and lending organisations in the table below:
- Starting Interest Rate (p.a)
- Processing Fee
- Rating
- Min. Loan Amount
IDFC FIRST Bank HL Interest Rate
8.85%
Up to 3%
4.5
₹1L - ₹5Cr
Tenure(1 - 30 Years)
HDFC Bank HL Interest Rate
8.95% - 9.85%
Up to 0.5%
4.5
₹5L - ₹10Cr
Tenure(1 - 30 Years)
Axis Bank HL Interest Rate
8.75% - 14%
0.05%
4.5
₹5L - ₹1Cr
Tenure(1 - 25 Years)
Kotak Bank HL Interest Rate
8.9% - 9.6%
0.5% - 1%
4.5
₹1L - ₹1Cr
Tenure(1 - 20 Years)
Home loans are available from Ujjivan Small Finance Bank to salaried and self-employed people with rates ranging from 13.75% p.a. to 15.75% p.a. for loans up to Rs 75 lakh and terms up to 20 years. The bank provides home-buying and building loans, composite homes (self-construction and plot purchases), and home improvements.
Ujjivan Small Finance Bank Home Loan Highlights
The table below pertains to Ujjivan Small Finance Bank Home Loan Interest Rate highlights for 2023:
Ujjivan Home Loan Highlights 2023 |
|
Interest Rates | 13.75% p.a. to 15.75% p.a. |
Loan Amount | Up to Rs 75 Lakh |
Loan Repayment Tenure | Up to 20 years |
Processing fee | Rs 3,350 + G.S.T |
Ujjivan Small Finance Bank Home Interest Rates on Loan schemes
Ujjivan Small Finance Bank offers four schemes to its customers. Listed below are the four schemes to use to avail of a housing loan according to your needs:
Home Purchase and Construction Loan
Offering of a home financing facility for the purchase or construction of new homes
Amount of Loan: Rs. 2 Lakhs to Rs. 75 Lakhs
Tenure of Loan: 3 Yrs. to 20 Yrs.
Composite Home Loan
Assisting in arranging the financial resources necessary to purchase a new plot and build a house.
Amount of Loan: Rs. 2 Lakhs to Rs. 50 Lakhs
Tenure of Loan: 3 Yrs. to 20 Yrs.
Home Improvement Loan
To set up funding to cover costs associated with remodelling, expanding, or fixing the current home's property
Amount of Loan: Rs. 2 Lakhs to Rs. 25 Lakhs
Tenure of the Loan: 3 Yrs. to 1 Yrs.
Ujjivan Small Finance Bank Home Interest for Salaried and Self-Employed
Ujjivan Small Finance Bank offers home loans with interest rates starting as low as 13.75% for self-employed professionals and salaried employees. Depending on the applicant's track record and other crucial variables, such as income, age, history of repayment, etc.
Ujjivan Small Finance Bank Home Interest for Govt. Employees
The Government employees pay the same home loan interest rates as any other client in Ujjivan Small Finance Bank. For everyone, the sum and interest rates remain the same. They periodically have excellent deals on their home loan programmes, and they give the best financing options.
Ujjivan Small Finance Bank Bank Home Loan Interest Rate For Women
Ujjivan Small Finance Bank Home Loan Interest Rates complies with all relevant regulations to increase women's empowerment and offer them better programmes. They provide a modest 3% government-approved stamp duty discount on loans.
Ujjivan Small Finance Bank Bank Home Loan Interest Rate For NRI
Customers from NRI countries who hold home loan accounts with Ujjivan Small Finance Bank are qualified for several advantages. Interested parties can check their eligibility for a personal loan that has already been pre-approved by going to the bank's official website and entering specific information. Ujjivan Small Finance Bank, like other lenders, offers pre-approved personal loans to borrowers with excellent credit ratings and consistent repayment histories.
What are Ujjivan Small Finance Bank Home Loan Interest Rate Fees and Charges?
The table below shows Ujjivan Small Finance Bank Home Loan Interest Rates, fees and other charges:
Particulars | Charge |
Foreclosure Charges (applicable only under a fixed interest rate period) | If own funds: NILIf loan transfer to other banks: 3% |
Part Payment charges | NIL |
CLADUM Charges (Credit, Legal, Administrative, Documentation, Upkeep and Maintenance Charges) | Up to 2% of the loan amount + G.S.T |
CERSAI Charges |
|
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 amortisation schedule issuance charge | Rs 100 per instance |
Duplicate statement issuance charge | Rs 100 per instance |
How Can You Calculate Ujjivan Small Finance Bank Home Loan Interest?
Using Ujjivan Small Finance Bank’s home loan EMI calculator, one can accurately calculate the interest/EMI on the home loan, and one just needs to enter some basic loan information to determine the precise EMI (Equated Monthly Instalment).
OR
One can use the following formula to calculate the EMI:
EMI = [P x R x (1+R)^N]/[(1+R)^N-1]
Where,
- P is the principal amount
- R is the interest rate charged on the home loan
- r is the number of instalments on the tenure of the loan
Ujjivan Small Finance Bank Home Loan Interest Rates for Existing Customers
The table below highlights the Ujjivan Small Finance Bank Home Loan Interest Rates for existing customers.
Ujjivan Small Finance Bank Home Loan Schemes | Interest Rates |
Home Purchase and Construction Loan | 13.75% p.a. to 15.75% p.a. |
Composite Home Loan (Plot purchase & Self-construction) | 13.75% p.a. to 15.75% p.a. |
Home Improvement Loan | 15.75% p.a. |
Factors that affect Ujjivan Small Finance Bank Home Loan Interest Rate and EMI
Many factors affect the Ujjivan Small Finance Bank Home Loan Interest Rate and EMI. Below are some significant factors:
- Credit Score
- Loan Tenure
- Location of the Property
- A stable income
- The LTV
- The MCLR Rates
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Frequently Asked Questions (FAQs)
What's the interest rate for Ujjivan Small Finance Bank?
The interest rate for Ujjivan Small Finance Bank starts from 13.75% and goes up to 17.75%.
What is the current interest rate of the Ujjivan Small Finance Bank home loan?
The current rate of interest of Ujjivan Small Finance Bank ranges from 15.75% to 17.75%.
What is the EMI for 30 lakhs home loan for 20 years?
The EMI for a 30 Lakhs home loan for 20 years will cost approx. Rs. 35,765.
How can I reduce my Ujjivan Small Finance Bank home loan interest rate?
One can reduce their Ujjivan Small Finance home loan interest rate with a good credit score, a reasonable repayment schedule, and a good rapport as a lender.
What is the average interest rate for a home loan in Ujjivan Small Finance Bank?
The average interest rate for a home loan from Ujjivan Small Finance Bank is 16.5%.