Ujjivan Small Finance Bank Home Construction Loan

Imagine stepping into a home that reflects your unique style and fulfils all your needs. Building your dream home from the ground up allows you to customise every detail, but it requires careful planning and financial backing. With Ujjivan Small Finance Bank house construction loan, the Bank can help you transform your dream into a reality. Ujjivan Small Finance Bank construction loan is a financing option specifically designed to help you fund the construction of your new home.

Ujjivan Small Finance Bank Construction Loan – Highlights

Unlike a traditional home purchase loan, a construction loan disburses funds in stages based on the construction progress, minimising the financial burden during the building phase. This comprehensive guide delves into the details of the Ujjivan Small Finance Bank construction loan, equipping you with the knowledge to make informed decisions.

Here are the highlights of the Ujjivan Small Finance Bank construction loan:

Ujjivan Small Finance Bank Construction Loan Interest Rates

Ujjivan Small Finance Bank understands that building your dream home is a significant investment. That’s why they offer competitive interest rates on their house construction loans.

Ujjivan Small Finance Bank Construction Loan Fees and Charges

Certain fees and charges are associated with obtaining a Ujjivan Small Finance Bank Construction Loan. These might include:

Ujjivan Small Finance Bank Construction Loan Eligibility Criteria for Salaried

Salaried applicants must meet specific requirements to qualify for a construction loan with Ujjivan Small Finance Bank.

• Minimum Age: 24 years
• Maximum Age: 60 years
• Stable income source
• Minimum work experience of 1 year

Ujjivan Small Finance Bank Construction Loan Eligibility Criteria for Self-employed

Below are the eligibility criteria for self-employed individuals to avail of the Ujjivan Small Finance Bank Construction Loan

• Age Range: 24 – 65 years
• A steady income source is necessary 
• Minimum business experience of 3 years

Ujjivan Small Finance Bank Construction Loan Documents Required for Salaried and Self-Employed

Ujjivan Small Finance Bank’s construction loan is designed to be accessible to many borrowers. Let’s explore the eligibility criteria specifically for salaried individuals:

• Duly filled and signed application form with annexure
• Identity proof documents (2 copies) for applicant and co-applicants (if any)
• Address proof documents (2 copies) for all applicants
• Signature of all applicants and guarantors (if any)
• Two passport-size photographs of all applicants and guarantors (if any)
• Salary slips for the last 3 months
• Form 16 for the last 2 years
• Bank statements reflecting the last 6 months’ transactions

Features of Ujjivan Small Finance Bank Construction Loans

Here are some attractive features of the Ujjivan Small Finance Bank Construction Loan:

• Flexible Loan Amount: Ujjivan offers construction loans ranging from ₹ 2,00,000 to ₹ 75,00,000, allowing you to finance a significant portion of your construction costs.
• Competitive Interest Rates: Ujjivan’s construction loan interest rates start from 8.75% p.a., making them a competitive option in the market.
• Extended Loan Tenure: With a maximum tenure of 20 years, you can spread your loan repayment and make it more manageable.
• Transparent Fee Structure: Ujjivan provides a clear breakdown of all applicable fees and charges associated with the loan.
• Minimal Documentation: The loan application process requires a standard set of documents.