Ujjivan Small Finance Bank Home Loan for Senior Citizens & Pensioners

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Ujjivan Small Finance Bank, established in 2017, is an Indian financial institution formed from its predecessor, Ujjivan Financial Services Ltd., which started as a non-banking financial company (NBFC) focusing on urban and semi-urban microfinance. Headquartered in Bangalore, it aims to provide underserved and underbanked sections of society with accessible banking and financial services, including saving accounts, loans, and insurance products. Ujjivan Small Finance Bank offers a comprehensive range of home loan products designed to meet various needs, including those of senior citizens. The Ujjivan Small Finance Bank Home Loan for senior citizen is suitable for buying, constructing, or improving homes. Applicants must provide standard documents for income, identity, and residence verification, and the bank assesses creditworthiness through CIBIL scores to ensure eligibility.

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Table of Content

1. Ujjivan Small Finance Bank Home Loan for Senior Citizen Highlights

2. Ujjivan Small Finance Bank Housing Loan for Senior Citizen Fees & Charges

  • 2.1 Foreclosure and Part-payment Charges
  • 2.2 Other Fees & Charges

    • 3. Ujjivan Small Finance Bank Housing Loan for Senior Citizen Documents Required

    4. Ujjivan Small Finance Bank Home Loan for Senior Citizen Eligibility Criteria

    Read more
    Written By
    Utsah Sharma
    Utsah Sharma
    Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
    Reviewed By
    Amit Prakash Singh
    Amit Prakash Singh
    Co-Founder, Square Yards & Chief Business Officer, Urban Money
    Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

    Ujjivan Small Finance Bank   Home Loan for Senior Citizen – Highlights

    Look at the key highlights of Ujjivan Small Finance Bank’s home housing loan for senior citizens.

                                              Ujjivan Home Loan Highlights
    Ujjivan Small Finance Bank Home Loan Interest 8.75% p.a. to 17.75% p.a.
    Loan Amount Up to Rs 75 Lakh
    Loan Repayment Tenure Up to 20 years
    Processing fee Rs 3,350 + GST

    Ujjivan Small Finance Bank  Housing Loan for Senior Citizen – Fees & Charges

    Here’s a quick rundown of Ujjivan Small Finance Bank housing loan fees & charges: 

    Foreclosure and Part-payment Charges

    Foreclosure Charges (applicable only under the fixed rate of interest period) If own funds: NIL

    If loan transfer to other banks: 3%
    Part Payment charges NIL

    Other Fees & 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 amortisation schedule issuance charge Rs 100 per instance
    Duplicate statement issuance charge Rs 100 per instance

    Ujjivan Small Finance Bank Housing Loan for Senior Citizen – Documents Required

    Following are the documents required for the Ujjivan Small Finance Bank home loan for senior citizens. 

    • PAN Card or Form 60
    • Original property documents
    • 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

    Ujjivan Small Finance Bank  Home Loan for Senior Citizen – Eligibility Criteria

    Ujjivan Small Finance Bank assesses home loan eligibility is based on the applicant’s income and their specific loan needs. Additional considerations such as the applicant’s age, existing liabilities, assets, and credit rating may also influence eligibility for a home loan.

    Frequently Asked Question (FAQs)

    What is the new Ujjivan Small Finance Bank home loan scheme for senior citizens?

    Ujjivan Small Finance Bank home loan for senior citizen scheme offers various benefits, including lower interest rates and extended repayment periods, tailored specifically to meet the financial needs and circumstances of older adults.

    What is the maximum age limit for availing Ujjivan Small Finance Bank Home Loan for Senior Citizens?

    Regarding the maximum age limit for obtaining a Senior Citizen Home Loan from Ujjivan Small Finance Bank, while specific age details were not explicitly provided, typically, such loans have an upper age limit set to ensure the loan is fully repaid. At the same time, the borrower is still financially stable, often before reaching advanced old age. For precise details, consulting directly with the bank or visiting their official website is advisable​.

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