Product Details
Bank Name
ESAF Small Finance Bank
Maximum Loan Tenure
Up to 20 years.
Maximum Loan Amount
Up to 20 lakh.
Interest Rate
For Floating: 10.76% to 18.35% per annum. For Fixed: 12.75% to 26% per annum.
Type
Both
Down Payment
LTV Ratio of 80%.
Fees and Charges
Processing fees- 2% of the loan amount plus GST.
Pre-payment charges: NIL for floating interest rate. 2% plus GST for fixed loans.
Late payment charges: Rs 100 to Rs 5000 per instance of EMI default.
Legal charges: At actuals.
Stamp Duty and registration charges: At actuals.
Minimum CIBIL Score
Not specified by the bank.
Down Payment and Fees
Micro Housing Loan
Special Features
None
Eligibility Criteria
Age: 18-65 years at the time of loan sanction, should not exceed 70 years at loan closure.
Domicile status in the area (No. of years): 3 years.
Adequate cash flow to meet the proposed loan EMIs.
Co-applicant is required.
Special Concession
None
Home Saver Option
No
Features, Eligibility and Concession
Pros
Available at both Fixed and Floating rates of interest.
Cons
Very high interest rate.
Maximum loan amount of Rs 10 lakhs only.
Pros & Cons
Application Procedure
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