| Ummeed Housing Loan Details | |||
| Interest Rate Varies from one case to another | Loan Amount Rs. 3 lakh to Rs. 30 lakh | Loan Tenure 2 – 20 Years | Processing Fee Up to 3% of loan amount |
Ummeed housing Finance Private Limited is a Housing Finance Company (HFC). It provides housing finance products and services to lower and middle income Indian families. The home loans are available at attractive interest rate, long repayment tenure and low processing charges. Customers with informal income are eligible to apply for Ummeed home loans.
Table of Contents
Ummeed Home Loan Features & Benefits
- Caters to low and middle income segments
- Offers different home loan schemes to cater to different home loan needs
- Total family income to be considered for loan eligibility
- Specialized assessment as per the borrower’s business/trade
- Income documents not an hindrance for calculating loan eligibility
- Has a longer loan tenure extending up to 20 years
- Offers various repayment options to customers for their convenience
- Get Home Loan Tax Benefits
Get Home Loan at the Low Interest Rate from Top Lenders Apply Now
Ummeed Housing Finance Interest Rates
Ummeed Housing Finance interest rates vary from one scheme to another. Since lending is a risky business, the lender take various factors such as your repayment capacity, number of dependents, credit history and existing loan liabilities into consideration.
Ummeed Home Loan Fees & Charges
Pre-Closure Charges (Floating Rate of Interest) by Individual Borrowers
| Particulars | Charges (exclusive of GST) |
| Processing Fee | Up to 3% of loan amount |
| CERSAI Charge | Up to Rs. 750 or as applicable |
| Loan Cancellation Charges | Rs. 5000 or 1% fees, whichever is higher |
| PDC/ECS/ACH Bounced Charges | Rs. 600 per bounce |
| Penal Charges for delay in deposit (applicable on Outstanding EMI/PEMI Due) | 2.50% per month |
| Switching Fee (Applicable on Outstanding Principal Amount) | 1% |
| Repayment Swap Charges | Rs. 500 |
| Statement of Accounts/Duplicate NOC/Foreclosure Letter) | Rs. 300 per statement |
| Retrieval of copy of documents | Rs. 1000 |
| Pre-Closure Charges (Fixed Rate of Interest) by Individual Borrowers | 5% on principal outstanding. In case pre-closure of loan is through own sources (except borrowing from Bank/HFC/NBFC /Any other Financial Institution) No fee is applicable |
| Pre-Closure Charges (Fixed Rate of Interest) by Non-Individual Borrowers | 5% on principal outstanding |
| NIL | |
| Pre-Closure Charges (Floating Rate of Interest) by Non-Individual Borrowers | 5% on principal outstanding |
| Part Payment Charges (Fixed Rate of Interest) by Individual Borrowers | NIL |
| Part Payment Charges (Fixed Rate of Interest) by Non-Individual Borrowers | 5% on part payment amount |
| Part Payment Charges (Floating Rate of Interest) by Individual Borrowers | NIL |
| Part Payment Charges (Floating Rate of Interest) by Non-Individual Borrowers | 5% on part payment amount |
| Collection Charges | Rs. 500 per collection from the customer’s residence/office |
| Differential Interest (any interest accrued due to gap in applicable ROI and existing rate of interest of any loan | Refund or charged at any time suitable to customer or Ummeed Housing Finance |
Note: Applicable GST and other statutory charges to be added as notified by statutory/government bodies.
Ummeed Home Loan Schemes
Ummeed Home Loan
Ummeed Housing Finance offers home loans for customers to buy scheme to purchase ready built-up or under construction house/flat or resale property.
| Loan Amount | Rs. 3 lakh to Rs. 30 lakh |
| Interest Rate | Varies from one case to another |
| Loan Tenure | 2 – 20 years |
Ummeed Loan for Construction
Ummeed Housing Finance’s Home Construction Loan helps customers construct house on a self-owned residential plot. It can also be availed to buy a residential plot and there on construct a house.
| Loan Amount | Rs. 3 lakh to Rs. 30 lakh |
| Interest Rate | Varies from one case to another |
| Loan Tenure | 2 – 20 years |
Ummeed Home Renovation Loan
Home Renovation Loans by Ummeed Housing Finance can be availed for internal & external repair, structural improvement, painting, water proofing, plumbing, electrical work, etc. of the self-occupied residential properties.
| Loan Amount | Rs. 3 lakh to Rs. 30 lakh |
| Interest Rate | Varies from one case to another |
| Loan Tenure | 2 – 20 years |
Ummeed Housing Finance EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Eligibility Criteria for Ummeed Housing Finance
To eligibility criteria to apply for home loans from Ummeed Housing Finance is given as follows:
- The applicant should have informal income
- The applicant should have a bank account
- The age of the applicant should be more than 25 years but not more than 65 years till the end of the loan maturity
- The applicant should be residing in a city where Ummeed Housing Finance has office
Documents Required
Given below are the documents required for Ummeed Housing Finance:
- Duly filled and signed home loan application form
- Proof of Identity (such as PAN Card, Aadhaar Card, Voters ID Card and Passport)
- Proof of Age (such as PAN Card, Aadhaar Card, Birth Certificate, Voters ID Card, Passport and High School Certificate)
- Proof of Residence (such as Electricity bill, Ration Card, Aadhaar Card, Driving License and Passport)
- Bank passbook or bank statements
- Proof of Income, if available or applicable
- Property documents, if property is identified
- Construction estimate is required in case of a Construction Loan and Home Renovation Loan
Note: The above list is only indicative. Ummeed Housing Finance Private Limited may request for more documents.
How to Apply for Home Loan at Ummeed Housing Finance
Customers can apply for home loan from Ummeed Housing Finance at their official website. They can also visit their nearest Ummeed Housing Finance branch office and fill out a home loan application form available to apply for the loan. Before applying for home loan, check your credit score along with home loan eligibility to avoid unnecessary loan rejection. Customers can also call Ummeed Housing Finance customer care representatives at their customer care number – 0124 4836480. You can also write to the lending institution at enquiry@ummeedhfc.com
Ummeed Housing Finance Customer Care
Customers who have taken home loan from Umeed Housing Finance and have queries or issue related to the product can get in touch with the Housing Finance Company’s customer care representatives through the modes of communication given as below:
- Call: 1800 212 6127/+91 828 7991 991/+91124 4836 480
- E-mail: customercare@ummeedhfc.com or enquiry@ummeedhfc.com
- Postal Address:Customers can also write a letter to the lending institution at the address of its Head Office:
Unit no: 809-815, 8th Floor,Tower A
Emaar Digital Greens, Golf Course Extn Road,
Sector 61, Gurugram, 122011
FAQs
Q. What is the loan amount offered on Ummeed Home Loans?
Ummeed Housing Finance offers loan amount ranging from Rs. 3 lakh to Rs. 30 lakh. The loan amount you will get depends on various factors such as your repayment capacity, total number of dependants, etc.
Q. What is the maximum tenure offered on Ummeed Home Loans?
The home loan tenure offered by Ummeed Housing Finance ranges from 2 years to 20 years.
Q. What are the different home loan repayment options offered by Ummeed Housing Finance?
As per their convenience, customers can pay their loan EMI amount through the following options:
- Automated Clearing House (ACH)
- Electronic Clearing Services (ECS)
- Post Dated Cheques (PDCs)