Utkarsh Small Finance Bank Home Loan
Utkarsh Small Finance Bank offers home loans up to Rs 5 crore with interest rates from 9.50% - 15.00% p.a. Their diverse portfolio includes Grih Prime, Pride, Unnati, Suvidha, Saral, and Aadhar schemes. With 30-year tenure options and PMAY benefits, they cater to various income groups. Processing fees range from 0.50% - 2% with additional charges for documentation and verification.
Utkarsh Small Finance Bank home loan provides financing up to Rs 5 crore. The bank offers competitive interest rates that start from 9.50% p.a. This makes it ideal for first-time homebuyers and property investors.
On top of that, the bank has various home loan products designed for different income groups. These include options for low-income groups (LIG), middle-income groups (MIG), and economically weaker sections (EWS) under the Pradhan Mantri Awas Yojana (PMAY). The bank’s portfolio features multiple choices like Grih Saral, Grih Suvidha, and Grih Unnati. Loan tenures can extend up to 30 years.
The detailed guide covers Utkarsh Small Finance Bank’s home loan interest rates, fees, eligibility criteria, and documentation requirements. This information will help you make an informed borrowing decision.
Utkarsh Small Finance Bank Home Loan Interest Rates
Utkarsh Small Finance Bank helps borrowers save money with competitive home loan interest rates. The bank calculates interest on a reducing balance basis, which makes borrowing costs lower.
Utkarsh Small Finance Bank Home loan interest rates at the bank currently range from 9.50% to 15.00% per year. Here’s a clear breakdown of interest rates across different home loan schemes:
| Loan Scheme | Interest Rate (p.a.) | Loan Amount Range |
| Grih Prime | 9.50% – 12.00% | ₹1 Cr – ₹5 Cr |
| Grih Pride | 10.00% – 12.00% | ₹60 Lakh – ₹1 Cr |
| Grih Unnati | 10.00% – 12.00% | ₹25 Lakh – ₹60 Lakh |
| Grih Suvidha | 10.00% – 14.00% | ₹10 Lakh – ₹25 Lakh |
| Grih Saral | 12.50% – 15.00% | ₹5 Lakh – ₹10 Lakh |
| Grih Aadhar | 12.50% – 15.00% | ₹2 Lakh – ₹5 Lakh |
| Grih Sudhar | 10.00% – 14.00% | ₹2 Lakh – ₹50 Lakh |
The bank’s home loan balance transfer facility starts at 10% per year. Eligible borrowers can also get additional interest subsidies under the Pradhan Mantri Awas Yojana (PMAY), which reduces their effective interest rates further.
Compare Interest Rates on Home Loans for Top Banks & HFCs
Want to see how Utkarsh Small Finance Bank’s home loan interest rates match up with other lenders? Here’s a detailed look at current interest rates from major banks and housing finance companies.
The market shows competitive rates from several lenders. Bajaj Housing Finance starts with rates from 8.50% p.a., while SBI provides rates between 8.50%-9.85% p.a.. HDFC Bank and ICICI Bank both begin their rates at 8.75% p.a..
Here’s a detailed comparison of Utkarsh Small Finance Bank’s home loan interest rates based on loan amounts:
| Lender | Up to ₹30 Lakh | ₹30-75 Lakh | Above ₹75 Lakh |
| Bajaj Housing Finance | 8.50% onwards | 8.50% onwards | 8.50% onwards |
| SBI | 8.50%-9.85% | 8.50%-9.85% | 8.50%-9.85% |
| HDFC Bank | 8.75% onwards | 8.75% onwards | 8.75% onwards |
| LIC Housing Finance | 8.50%-11.25% | 8.50%-10.55% | 8.50%-10.75% |
| Kotak Mahindra Bank | 8.75% onwards | 8.75% onwards | 8.75% onwards |
Public sector banks like Union Bank of India and Bank of Maharashtra offer some of the best rates, starting at 8.35% p.a.. Your loan amount, tenure, and borrower profile will affect the interest rates you qualify for.
Take the next step toward your home loan. Compare these rates with Utkarsh Small Finance Bank’s options to find the best deal for your housing needs.
Utkarsh small finance bank Home Loans Fees & Charges
Knowing your home loan fees and charges helps you manage your money better. These charges add to your borrowing costs beyond the interest rates.
Utkarsh Small Finance Bank charges a processing fee between 0.50% to 2% of the loan amount. The minimum fee is ₹3,000. You’ll also need to pay documentation charges that start from ₹500. The exact amount depends on your loan type and size.
Here’s a detailed breakdown of various charges:
| Fee Type | Applicable Charges |
| Processing Fee | 0.50% – 2% of loan amount |
| Documentation Charges | Starting from ₹500 |
| Technical Evaluation | ₹2,500 – ₹5,000 |
| Legal Verification | ₹2,000 – ₹4,000 |
| CIBIL Report | ₹50 per applicant |
Salaried borrowers can prepay their loans after 12 months from the first disbursement. Floating rate loans don’t have any prepayment charges. Fixed-rate loans might charge 2-3% of the outstanding amount.
The bank charges 2% monthly on overdue amounts as late payment penalties. Each EMI bounce costs ₹500. You’ll need to pay ₹250 to get loan statements or retrieve documents.
Types of Home Loans Offered by Utkarsh Bank
Utkarsh Small Finance Bank offers a wide range of home loans that match different housing needs and budgets. The bank has eight unique home loan products to suit specific requirements.
Here’s a detailed look at Utkarsh Bank’s home loan products:
| Loan Type | Amount Range | Maximum Tenure | Key Feature |
| Grih Prime | ₹1 Cr – ₹5 Cr | 30 years | Premium segment with lowest interest rates |
| Grih Pride | ₹60 L – ₹1 Cr | 30 years | Mid-premium housing solutions |
| Grih Unnati | ₹25 L – ₹60 L | 30 years | Mid-segment housing finance |
| Grih Suvidha | ₹10 L – ₹25 L | 30 years | Affordable housing solutions |
| Grih Saral | ₹5 L – ₹10 L | 30 years | Entry-level housing finance |
| Grih Aadhar | ₹2 L – ₹5 L | 30 years | Exclusive for existing customers |
| Grih Sudhar | ₹2 L – ₹50 L | 20 years | Home improvement and extension |
| Awas Loan | Based on eligibility | 30 years | PMAY-linked subsidy scheme |
The bank supports affordable housing substantially through its Utkarsh Awas Loan scheme. This program helps economically weaker sections, lower income groups, and middle-income segments under the Pradhan Mantri Awas Yojana.
Homeowners looking for better terms can use the Home Loan Balance Transfer facility to switch loans up to ₹1 crore with tenures up to 30 years. These loans help customers buy plots, construct houses, improve homes, and extend properties.
Eligibility and Documentation Requirements
Your Utkarsh Small Finance Bank home loan application process becomes smoother when you meet the eligibility criteria and have all documents ready. The bank sets specific requirements that vary based on your employment status and age.
Salaried employees need at least 3 years of work experience, including 12 months in their current position. Business owners and self-employed professionals should have run their business continuously for 3 years. The bank caps the maximum age at loan application to 60 years for salaried employees and 65 years for self-employed applicants.
These documents are essential when you apply for a home loan:
| Document Category | Required Documents |
| Identity Proof | PAN Card, Passport, Driving License, Voter ID, Aadhaar Card |
| Address Proof | Ration Card, Bank Passbook, Utility Bills |
| Income Proof (Salaried) | Form 16, Last 3 years IT Returns, Recent 3 months Payslips |
| Income Proof (Self-employed) | 3 years IT Returns, Balance Sheet, P&L Statements |
| Property Documents | Sale Agreement, Title Deeds, Approved Plans |
Self-employed applicants need extra documents like Form 26AS, business profile, and partnership deed or company incorporation documents. The bank may ask for additional papers depending on individual cases.
A complete set of documents helps accelerate the approval process. You can avoid delays by keeping your bank statements, ongoing loan details, and proof of own contribution ready.
