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Ujjivan Small Finance Bank offers competitive home loan options with interest rates projected for 2025 starting from 9.00% p.a. for floating rate loans, which are typically linked to the repo rate or MCLR (Marginal Cost of Funds based Lending Rate). Fixed rate loans may range from 9.50% to 10.50% p.a., depending on the borrower's profile and loan amount. The annual percentage rate (APR) incorporates these base rates along with any additional fees, providing a comprehensive cost overview. Processing fees are charged at 0.50% to 1.00% of the loan amount, subject to a minimum of ₹5,000 and a maximum of ₹25,000, plus applicable GST. Prepayment charges apply only to fixed rate loans at 2% to 4% of the outstanding principal if prepaid within the first three years, while floating rate loans often have nil prepayment penalties. Foreclosure charges for fixed rates can be up to 4%, encouraging borrowers to consider repo rate linked options for flexibility.
The Ujjivan Small Finance Bank Home Loan EMI Calculator is a user-friendly tool to estimate monthly repayments. To use it, input the principal loan amount, tenure in months or years, and the applicable interest rate (such as the floating rate of 9.00% p.a. or fixed rate of 9.50% p.a.). The calculator computes the Equated Monthly Installment (EMI) using the formula: EMI = [P x R x (1+R)^N] / [(1+R)^N – 1], where P is principal, R is monthly interest rate, and N is tenure in months. It also displays total interest payable and the overall repayment amount, helping users compare floating rate versus fixed rate scenarios. Factors like loan-to-value ratio (LTV) up to 80% can influence the principal, so adjust inputs accordingly for accurate projections.
Eligibility for Ujjivan Small Finance Bank home loans requires applicants to be aged 21 to 60 years at loan maturity. Income eligibility starts from a minimum monthly salary of ₹25,000 for salaried individuals or ₹3 lakh annual income for self-employed professionals. A strong CIBIL score of 700 or above is essential, as it impacts approval and interest rates—lower scores may lead to higher rates or rejection. Employment type matters; stable jobs in government or reputed private sectors are preferred, while self-employed applicants need at least two years of business vintage. The loan-to-value ratio is capped at 80% for properties valued up to ₹30 lakh and 75% for higher values, ensuring borrowers contribute sufficiently. Co-applicants can enhance eligibility by combining incomes.
Home loans from Ujjivan Small Finance Bank offer tenures ranging from 5 to 30 years, allowing borrowers to choose based on affordability and EMI calculations. Longer tenures reduce monthly EMIs but increase total interest, especially under floating rate structures influenced by repo rate changes. Repayment options include standard EMIs, step-up or step-down plans for varying income profiles, and flexibility for overpayments. Prepayment is allowed without charges for floating rate loans after six months, up to 25% of the principal annually. Foreclosure is possible after one year with no penalties for floating rates, but fixed rate loans incur fees. Borrowers can switch from fixed to floating rates once per loan term, subject to a conversion fee of 0.50%.
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