| 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 |
Note: Interest rates as of 25 September 2023
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Table of Contents
Ujjivan Home Loan Interest Rates
| 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. |
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.
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Compare Interest Rates on Home Loans for Top Banks & HFCs
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
| SBI | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. |
| HDFC Bank Limited | 8.35% p.a. onwards | 8.35% p.a. onwards | 8.35% p.a. onwards |
| LIC Housing Finance | 8.40% – 10.35% p.a. | 8.40% – 10.55% p.a. | 8.40% – 10.75% p.a. |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50%-11.45% p.a. |
| Punjab National Bank | 8.45%-10.25% p.a. | 8.40%-10.15% p.a. | 8.40%-10.15% p.a. |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. |
| Union Bank of India | 8.40% – 10.80% p.a. | 8.40% – 10.95% p.a. | 8.40% – 10.95% p.a. |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards |
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Ujjivan Home Loan Fees and Charges
Processing fee
Ujjivan Small Finance Bank charges a processing fee of Rs 3,350 for 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 |
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Types of Ujjivan Home Loan
Ujjivan Small Finance Bank offers three types of home loans, which are as follows:
Home Purchase and Construction Loan
- Purpose: Home loan facility offered for purchasing or constructing new houses
- Amount: Rs 2 Lakh to Rs 75 Lakh
- Tenure: 3 years to 20 years
Composite Home Loan
- Purpose: To arrange finances for purchasing a new plot and constructing a home on it.
- Amount: Rs 2 Lakh to Rs 50 Lakh
- Tenure: 3 years to 20 years
Home Improvement Loan
- Purpose: To arrange finances for meeting expenses related to renovation/extension/repair of the existing home property
- Amount: Rs 2 Lakh to Rs 25 Lakh
- Tenure: 3 years to 15 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.
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Ujjivan Home Loan Documents Required
List of home loan documents required for availing Ujjivan home loan are as follows:
Common documents
- PAN Card/ Form 60
- Original property documents
- Residence proof (any one of the following):
Passport/ Driving License/ Proof of possession of Aadhaar/ Voter’s Identity Card/ Job card issued by NREGA duly signed by an officer of the State Government/ Letter issued by the National Population Register containing details of name and address/ Aadhaar card
Income Documents
- Latest 6 months Bank Statement/ Passbook
- Income Tax Returns
- Salary certificate wherever applicable
- Form 16A wherever applicable
Business Proof Documents for Self-employed:
- Business Registration documents
- E-Bill
- Udyog Aadhaar
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Ujjivan Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
FAQ
1: What is the minimum salary requirement for a home loan in Ujjivan Small Finance Bank?
Ans: Ujjivan Bank has not disclosed the minimum salary requirement for availing home loan. The minimum salary requirement set by most lenders is Rs. 25,000 per month.
2: Does Ujjivan Small Finance Bank check for CIBIL score for home loan?
Ans: Ujjivan Bank has not disclosed the cut-off credit score for availing home loan. Home loan lenders consider credit scores for determining the credit risk associated with their applicants as credit score indicates their creditworthiness. Banks/NBFCs usually prefer applications those having credit scores of 750 and above.
3: Can I avail two home loans at once from Ujjivan Bank?
Ans: Ujjivan Bank has not stated any such criteria regarding the number of times one can avail of a home loan. However, banks and HFCs usually allow their existing home loan borrowers to avail additional home loan provided they have adequate repayment capacity and meet the various eligibility criteria set by the lender like income, employment type, credit score, location and various property features, etc