Equitas Small Finance Bank plot loan

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Equitas Small Finance Bank Plot Loan features

Interest Rate depends on the borrower’s requirements
Loan value up to 50 lakhs
Re payment tenure up to 120 months
Loan Disbursement Tenure within 7 working days

Eligibility criteria for Equitas Small Finance Bank Plot Loan

  • Indian nationality
  • Minimum 18 years of ageEquitas small Finance Bank Plot loan
  • Maximum 65 years of age
  • Valid Identity proof
  • Valid address proof
  • Sale deed

Benefits of Equitas Small Finance Bank Plot Loan

  • EMIs are customized as per the re
  • Easy processing
  • No long queues to do documents verification
  • Quick online assistance
  • Fast Loan disbursement

Plot Loan

Plot loans are taken by a borrower to buy a piece of Land. This type of loan can be used to construct a house or purchase for investment purposes. From less processing fee to low interest rate Equitas Small Finance Bank offers everything to their customers. If you don’t have enough funds to buy a plot, Equitas Small Finance bank plot loan will help you fulfill your dream.

1. Plot Loan Interest Rates

The Equitas small Finance Bank Plot loan has different interest rates for different loan amounts.

2. Loan to Value Ratio

Loan to Value Ratio depends on the market value of the property at the time.

3. Lower Tenure

The bank offers a repayment tenure of up to 120 months.

4. Tax Benefits

Tax benefits can be availed for a plot loan taken along with a construction loan under Section 80C.

5. Prepayment Penalty

NIL for Floating rate loans

Types of Plot Loans Equitas Small Finance Bank provides: 

Equitas Small Finance Bank provides two types of Plot loans :

Plot Loan

A plot loan is taken by a customer to purchase a piece of land. Before buying a plot of land, the borrower should be aware of the various charges they are supposed to pay.

Plot + Construction Loan

This type of loan is taken to buy a land and also construct a house or a building on it within a stipulated time frame. If the borrower is unable to start the construction on time, the bank may take severe actions.

Plot Loan for Self-employed Individuals:

Self-employed individuals enjoy many benefits.

Who Can Apply for a Self-employed Equitas Small Finance Bank Plot Loan

Loan Amount Maximum Funding
Rs. 1 lakh – Rs. 30 lakh 80% of the market value
above Rs. 30 lakh 75% of the market value

Types of Plot Loans for Self-employed Individuals

Equitas small finance Bank gives two types of loans for all the self-employed individuals.

  1. Adjustable-Rate Loan- It is revised every six months with the interest rate changing simultaneously. It is the Retail Prime Lending Rate.
  2. TruFixed Home Loan- This loan provides halves of both, an adjustable-rate and a fixed rate. In the beginning, the rate is fixed which  gets turned into an adjustable-rate after 2/3 year.

Equitas Small Finance Bank Plot Loan Interest Rate for Self-employed Professionals

Adjustable Plot Loan Rate

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 10 lakh) 7.05 to 7.55
For others* (up to 10 lakh) 7.10 to 7.60
For women* (above 10 lakh) 7.30 to 7.80
For others* (above 10 lakh) 7.35 to 7.85
For Women* (30 Lakhs & Above) 7.40 to 7.90
For Others*(30 Lakhs & Above) 7.45 to 7.95

TruFixed Rate- 2/3 Year Fixed Rate Variant

Loan Slab Home Loan Interest Rates (% p.a.)
For Women* (up to 10 Lakhs) 7.50 to 8.0
For Others* (up to 10 Lakhs) 7.55 to 8.05
For Women* (Above 10 Lakhs) 7.65 to 8.15
For Others* (Above 10 Lakhs) 7.70 to 8.20
For Women* (30 Lakhs & Above) 7.75 to 8.25
For Others*(30 Lakhs & Above) 7.80 to 8.30

Equitas Small Finance Bank Plot Loan Interest Rate for self-Employed Non-professionals

Adjustable Home Rate Loan

Loan Slab Interest Rates (% p.a.)
For Women* (Up to 10 Lakhs) 7.20 to 7.70
For Others* (Up to 10 Lakhs) 7.25 to 7.75
For Women* (Above 10 Lakhs) 7.45 to 7.95
For Others* (Above 10 Lakhs) 7.50 to 8.00
For Women* (30 Lakhs & Above) 7.55 to 8.05

TruFixed Loan- 2/3 Year Fixed Rate Variant

Loan Slab Interest Rates (% p.a.)
For Women* (up to 10 Lakhs) 7.65 to 8.15
For Others* (up to 10 Lakhs) 7.70 to 8.20
For Women* (Above 10 Lakhs) 7.80 to 8.30
For Others* (Above 10 Lakhs) 7.85 to 8.35
For Women* ( 30 Lakhs & Above) 7.90 to 8.40
For Others*( 30 Lakhs & Above) 7.95 to 8.45

Equitas small Finance Bank Documents Required for Self-employed

ID Proof Class 10th marksheet, Aadhar card, Passport
Address Proof Driver’s License, Telephone Bill, Election card, Ration Card
Educational qualification copy of last qualifying Degree
Proof of Business Certificate
Tax Returns Last three years, form 26AS
Income statement Lat one year account statement
Other documents Sale Deed, Sanctioned Plan; if applicable, Estimate of construction; if applicable

Equitas Small Finance Bank Plot Loan fees for self-employed Individuals

Processing fee:

The processing fee depends on the loan amount.

Pre-payment Charges

Adjustable Rate Home loans For individual borrowers who have their businesses as a co-applicant, prepayment charges are 2% plus taxes
Fixed Rate Home Loans Prepayment charges is 2% plus tax and charges on the outstanding amount which should be paid in advance through any bank.
Fixed and Variable Rate loans Combination rate – During the Fixed Rate period, the prepayment charges are 2%, plus relevant taxes and statutory charges of the outstanding amount prepaid through financial institutions or any banks, and will apply to all partial/full prepayments. The customer must submit documents that the bank requests, to confirm the source of funds at the time of prepayment of the loan.

For Variable Rate period, No prepayment charges will be levied for loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants. Prepayment charges at 2% plus taxes and statutory charges, as may be applicable from time to time.

Conversion Fees

Name of the service Name of the charge/fee levied When payable Frequency Amount in rupees
Switch to a lower rate in Variable Rate Loans Conversion fees On Conversion On every spread change Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower.
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On Conversion Once Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower.
Switching from Tru Fixed Rate to Variable Rate Loan Conversion fees On Conversion Once 1.75% of the principal outstanding and undisbursed amount plus taxes at the time of conversion.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On Conversion On every spread change Half of the spread difference on the principal outstanding and undisbursed amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On Conversion On every spread change 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion.

Cheque Dishonour Charges

Cheque Dishonour Charges are Rs. 200

Fees on Account of External Opinion

The external opinion fee has to be paid by the borrower.

Property Insurance

The customer has to pay for property insurance.

Incidental Charges

The defaulter has to pay for all the incidental charges.

Statutory / Regulatory Charges

The customer has to pay for all the charges.

List of Documents

Up to 500 rupees

Photocopy of Documents

Up to 500 rupees

Increase/Decrease in Loan Term

Up to 500 rupees

Disbursement Cheque Cancellation Charge Post Disbursement

Up to 200 rupees

Re-appraisal of Loan After 6 Months from Sanction

Up to Rs. 2000 plus applicable tax.

PDC Swap

Up to 200 rupees.

Equitas Small Finance Bank Plot Loan for Salaried Individuals

All salaried individual can take Equitas Small Finance Bank Plot Loan

Who can apply for a Salaried Equitas Small Finance Bank Plot Loan

LOAN AMOUNT MAXIMUM FUNDING
Above Rs. 1 lakh to up to 30 lakh. Up to 80% of the market value
Above Rs. 30 lakh. Up to 75% of the market value

Types of Plot Loans for Salaried Individuals

  1. Adjustable-Rate Loan- It is revised every six months with the interest rate changing simultaneously. It is the Retail Prime Lending Rate.
  2. Tru Fixed Home Loan- This loan provides halves of both, an adjustable-rate and a fixed rate. In the beginning, the rate is fixed which  gets turned into an adjustable-rate after 2/3 year.

Equitas Small Finance Bank Plot Loan Interest Rate for Salaried Individuals

Adjustable Plot Loan Rate

Loan Slab Home Loan Interest Rates (% p.a)
For women* (up to 10 lakh) 7.05 to 7.55
For others* (up to 10 lakh) 7.10 to 7.60
For women* (above 10 lakh) 7.30 to 7.80
For others* (above 10 lakh) 7.35 to 7.85
For Women* (30 Lakhs & Above) 7.40 to 7.90
For Others*(30 Lakhs & Above) 7.45 to 7.95

TruFixed Loan- 2/3 Year Fixed Rate Variant

Loan Slab Home Loan Interest Rates (% p.a.)
For Women* (up to 10 Lakhs) 7.50 to 8.0
For Others* (up to 10 Lakhs) 7.55 to 8.05
For Women* (Above 10 Lakhs) 7.65 to 8.15
For Others* (Above 10 Lakhs) 7.70 to 8.20
For Women* (30 Lakhs & Above) 7.75 to 8.25
For Others*(30 Lakhs & Above) 7.80 to 8.30

Equitas Small finance Bank Plot Loan Documents For Salaried Individuals

ID Proof Class 10th marksheet, Aadhar card, Passport
Address Proof Driving License, Telephone Bill, Ration Card, Election Card
Education Qualification Last qualifying degree certificate
Salary Slips Employment order
Bank Statements Last six months bank statements
Others Processing fee cheque, photocopy of title documents

Equitas small finance Bank Plot Loan Fees for Salaried Individuals

Processing Fees: 

The processing fees depends on the loan amount.

Pre-payment Charges:

Adjustable-Rate Home Loans For loans sanctioned to individual borrowers with a co-applicant, prepayment charges are at 2% plus taxes.
Fixed-Rate Home Loans Prepayment charges will be 2% plus GST and charges of the outstanding amount should be paid in advance through any financial institution or bank.
Fixed and Variable Rate Loans Fixed and Variable Rate Loans (Combination rate)For the Fixed Rate period: The prepayment charges will be 2%, plus applicable taxes and statutory charges of the outstanding amount being so prepaid through refinance from financial institutions or any banks, and will apply to all partial/full prepayments.

For the Variable Rate period: No prepayment charges will be applicable. But in case of loans sanctioned to individual borrowers with the firm, company, etc. as co-applicants. Prepayment charges is 2% plus GST and statutory charges.

Conversion Fees:

Name of the service Name of the charge/fee levied When payable Frequency Amount in rupees
Switch to a lower rate in Variable Rate Loans Conversion fees On conversion On every spread change Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower.
Switch to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) Conversion fees On conversion Once Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower.
Switch from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% of the principal outstanding amount plus taxes at the time of conversion.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change Half of the difference on the principal outstanding amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%.
Switch to Lower Rate (Non-Housing Loans) Conversion fees On conversion On every spread change 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion.

Cheque Dishonour Charges

The Cheque Dishonour Charges are Rs. 200.

Fees on Account of External Opinion

The external opinion is offered from technical advocates whose fees is paid by the borrower.

Property Insurance

Borrowers have to pay money for the insurance.

Incidental Charges

The incidental charges are covered by the defaulter.

Statutory / Regulatory Charges

The customer has to pay for all Extra charges.

List of Documents

Maximum of Rs. 500.

Photocopy of Documents

Maximum of Rs. 500

Increase/Decrease in Loan Term

Maximum of Rs. 500

Disbursement Cheque Cancellation Charge Post Disbursement

Maximum of Rs. 200

Re-appraisal of Loan After 6 Months from Sanction

Maximum of Rs. 2000 plus applicable tax.

PDC Swap

Maximum of Rs. 200

How To Apply For Equitas Small Finance Bank Plot Loan With Dialabank

  • Visit Dialabank
  • Click to go on the plot loan page.
  • Fill the form provided at the top of the page.
  • Our Customer service relationship officer will contact you and help you get the right plot loan.

Additional Tips to get Equitas Small Finance Bank Plot Loan easily

  • Keep checking the bank website for details.
  • Research and compare different banks before finalizing one
  • Keep all the necessary documents ready.
  • Take care of your CIBIL score.
  • Contact Dialabank to get the best deals.

Plot Loan with Construction vs Home Loan

Parameters Plot Loans with construction Home Loans
Tax Benefits The plot loan and its benefits can be claimed after construction Home Loans qualify for a tax deduction on the payment of the actual amount.
Tenure Up to 15 years Up to 30 years
LTV Up to 70% of the property’s value Up to 90% of the property’s value
Interest Rates Similar to home loans but they can get higher Interest rates start at @6.75%
Prepayment Penalty Nil for people with floating rates Nil for people with floating rates

FAQs

What is the plot loan interest rate in Equitas Small Finance Bank?

The interest rate of Equitas small Finance Bank plot loan depends on the loan amount.

What is Equitas Small Finance Bank Plot Loan?

Equitas Small Finance Bank Plot Loan is provided to buy a piece of land. It has low processing fee, less interest rate, least documentation required and customized EMIs.

How much processing fee is applicable on Equitas Small Finance Bank Plot Loan?

Equitas Small Finance Bank Plot loan’s processing fees depends upon the loan amount.

What is the loan tenure of the Equitas Small Finance Bank Plot Loan?

Up to 30 years

How much EMI per lakh can be fixed on Equitas Small Finance Bank Plot Loan?

The EMI is based on the requirements of the borrower.

How can I avail plot loan from Equitas Small Finance Bank ?

All eligible customers can avail Equitas Small Finance Bank plot loan.

How to apply for Equitas Small Finance Bank Plot Loan?

The nearest Equitas Small Finance bank branch can be visited or take the assistance of Dialabank.

How to repay the Equitas Small Finance Bank Plot Loan earlier than the schedule?

Extra payments can help repay the loan earlier than schedule.

Is it possible to repay my loan earlier than the schedule?

Yes, loan amount can be repaid earlier than schedule.

How to check Equitas small Finance Bank Plot Loan eligibility?

Online or by taking the help of Dialabank.

What is the Equitas Small Finance Bank Plot Loan phone number?

Dialabank has answers to all your queries on 9878981144

What is the Plot Loan interest rate for women?

The plot loan interest rate for woman starts at 9.60%.

What is Equitas Small Finance Bank plot loan interest rates for salaried individuals?

The interest rate is 7.05% to 8.0%

What is Equitas Small Finance Bank plot loan interest rates for self-employed professionals?

The interest rate is 7.25% to 7.75% for self-employed professionals

What is Equitas Small Finance Bank plot loan interest rates for self-employed non-professionals?

The interest rates for them is 7.25% to 7.75%

How is a plot loan different from a home loan?

A plot loan is taken to buy an idle piece of land and a home loan is taken to purchase an already constructed house or building.

Can I take a plot loan with a home loan?

PLot loan and Home Loan cannot be taken by a borrower simultaneously.

What is the maximum amount that I can take as a loan?

Up to 70% of the property value.

Can a plot loan be taken on any plot, anywhere?

A plot loan is given to buy a piece of land within municipal limits or a specified land location.

What is a Balance Transfer on Plot Loan?

The plot loan balance transfer is available at an interest rate 6.75%.

Do I get any tax benefits on a plot loan?

A Plot loan combined with a construction loan will give tax benefits.

How many years can I keep the plot of land before starting construction?

In case of a Plot Loan with construction loan, the construction needs to begin before the designated time.

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