ESAF 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 ESAF Small Finance Bank Plot Loan
- Indian nationality
- Minimum age of 18 years
- Maximum age of 65 years
- Stable earnings
- Sale deed
- Income Tax returns
Benefits of ESAF Small Finance Bank Plot Loan
- Customized EMIs
- Easy processing
- No large paperwork required
- Quick assistance
- Fast Loan disbursement
Plot Loan
Plot loans are offered to the customers who wish to buy a piece of Land but lack the funds to do so. The Banks and NBFCs come to the rescue and help them by providing the amount of money they require in exchange of basic identity and income statements.
Plot Loan Interest Rates
The ESAF small Finance Bank Plot loan interest rate is based on the loan amount.
Loan to Value Ratio
Loan to Value (LTV) Ratio is the amount of money that a borrower gets as the loan amount.
Lower Tenure
ESAF small Finance Bank Plot Loans comes with a repayment tenure of up to 120 months.
Tax Benefits
Tax benefits can be taken if a plot loan taken along with a construction loan. Plot loan alone doesn’t give any tax benefits.
Prepayment Penalty
Floating rate loans have NIL prepayment penalty.
Types of Plot Loans ESAF Small Finance Bank provides:
ESAF Small Finance Bank offers two types of Plot loans :
Plot Loan
A plot loan is the loan that a borrower takes to purchase a piece of land. However it is important to note that plot can only be purchased within municipal limits.
Plot + Construction Loan
This loan is taken to construct a building or house on the piece of land within a stipulated time frame. If the borrower is unable to begin the construction on time, the bank can take actions depending on the loan agreement.
Plot Loan for Self-employed Individuals:
Self-employed individuals get many benefits from ESAF Small Finance Bank plot loan.
Who Can Apply for a Self-employed Utkarsh 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
ESAF small finance Bank gives two types of loans for all the self-employed individuals.
- Adjustable-Rate Loan- It is revised after every six months and the interest rate changes with that. The increase in interest rate also increases the amount of EMI.
- TruFixed Home Loan- This loan gives both, an adjustable-rate and a fixed rate. In the start, the rate is fixed which later gets converted into an adjustable-rate.
ESAF 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 |
ESAF 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 |
ESAF small Finance Bank Documents Required for Self-employed
| Identity Proof | Class 10th marksheet, Aadhar card, Passport |
| Residence Proof | Driver’s License, Telephone Bill, Election card, Ration Card |
| Educational qualification | Last qualifying Degree 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 |
ESAF Small Finance Bank Plot Loan fees for self-employed Individuals
Processing fee:
The processing fee is dependent 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
The Cheque Dishonour Charges are 200 rupees.
Fees on Account of External Opinion
The external opinion is obtained from technical advocates whose fee is paid by the borrower directly.
Property Insurance
The borrowers pay for property insurance.
Incidental Charges
The defaulter borrower has to pay for the incidental charges.
Statutory / Regulatory Charges
The customer is to pay for all the Statutory and Regulatory charges applicable.
List of Documents
500 rupees of cost
Photocopy of Documents
500 rupees of cost
Increase/Decrease in Loan Term
500 rupees of cost
Disbursement Cheque Cancellation Charge Post Disbursement
200 rupees of cost
Re-appraisal of Loan After 6 Months from Sanction
Rs. 2000 plus applicable tax.
PDC Swap
200 rupees.
ESAF Small Finance Bank Plot Loan for Salaried Individuals
Any salaried individual can take benefits from ESAF small Finance Bank.
Who can apply for a Salaried ESAF 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
- Adjustable-Rate Loan: It is revised after every six months and the interest rate changes with that. The increase in interest rate also increases the amount of EMI.
- Tru Fixed Home Loan- This loan gives both, an adjustable-rate and a fixed rate. In the start, the rate is fixed which later gets converted into an adjustable-rate.
ESAF 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 |
ESAF Small finance Bank Plot Loan Documents For Salaried Individuals
| Identity Proof | Class 10th marksheet, Aadhar card, Passport |
| Residence 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 |
ESAF 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
A cost of Rs. 200.
Fees on Account of External Opinion
The external opinion comes from technical advocates.
Property Insurance
Borrowers have to pay the money to the insurance providers.
Incidental Charges
The incidental charges are covered by the defaulter.
Statutory / Regulatory Charges
The customer has to pay for all the Statutory and Regulatory charges.
List of Documents
A Cost of Rs. 500.
Photocopy of Documents
A Cost of Rs. 500
Increase/Decrease in Loan Term
A Cost of Rs. 500
Disbursement Cheque Cancellation Charge Post Disbursement
A Cost of Rs. 200
Re-appraisal of Loan After 6 Months from Sanction
Rs. 2000 plus applicable tax.
PDC Swap
Cost of Rs. 200
How To Apply For ESAF Small Finance Bank Plot Loan With Dialabank
- Visit Dialabank for Plot Loan
- Check if you are eligible and go to various Bank’s Plot loan formalities.
- Fill the form available at the top of the page.
- Our Customer service relations officer will get in touch with you and help you all the way.
Additional Tips to get ESAF Small Finance Bank Plot Loan easily
- The website of ESAF Small finance Bank plot loan.
- Keep yourself updated with the facts of Plot loan.
- Make sure you have all the necessary documents ready while applying.
- Keep a look on your CIBIL score.
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 ESAF Small Finance Bank?
The interest rate is dependent on the loan amount.
✅What is ESAF Small Finance Bank Plot Loan?
ESAF Small Finance Bank Plot Loan is provided to buy a piece of land. It comes with low processing fee, less interest rate, minimum documentations required and customized EMIs.
✅How much processing fee is applicable on ESAF Small Finance Bank Plot Loan?
ESAF Small Finance Bank Plot loan offers minimal processing fees on the loan amount.
✅What is the loan tenure of the ESAF Small Finance Bank Plot Loan?
Up to 30 years
✅How much EMI per lakh can be fixed on ESAF Small Finance Bank Plot Loan?
The EMI is based on the loan amount and the borrower’s paying capability.
✅How can I avail plot loan from ESAF Small Finance Bank ?
With the right documents you can avail ESAF Small Finance Bank plot loan.
✅How to apply for ESAF Small Finance Bank Plot Loan?
You can visit ESAF Small Finance bank branch or take the assistance from Dialabank.
✅How to repay the ESAF Small Finance Bank Plot Loan earlier than the schedule?
More payments can help repay the loan earlier than schedule.
✅Is it possible to repay my loan earlier than the schedule?
Yes, it is possible to repay the loan earlier than schedule.
✅How to check ESAF small Finance Bank Plot Loan eligibility?
You can visit their website or take the help from Dialabank.
✅What is the ESAF Small Finance Bank Plot Loan phone number?
All the queries will be answered on 9878981144
✅What is the Plot Loan interest rate for women?
The Bank plot loan interest rate starts at 9.60% for women.
✅What is ESAF Small Finance Bank plot loan interest rates for salaried individuals?
The interest rate is 7.05% to 8.0%
✅What is ESAF Small Finance Bank plot loan interest rates for self-employed professionals?
The interest rate for self-employed professionals is 7.25% to 7.75%
✅What is ESAF Small Finance Bank plot loan interest rates for self-employed non-professionals?
The interest rate is 7.25% to 7.75%
✅How is a plot loan different from a home loan?
A plot loan is taken to buy an empty 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?
No, these loans cannot be taken by a borrower simultaneously.
✅What is the maximum amount that I can take as a loan?
The loan amount is provided for up to 70% of the property value.
✅Can a plot loan be taken on any plot, anywhere?
A plot loan is taken 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 can be availed at an interest rate from 6.75%.
✅Do I get any tax benefits on a plot loan?
Tax benefits can be availed under Section 80(C)
✅How many years can I keep the plot of land before starting construction?
In a Plot Loan along with construction loan, the construction should begin before the decided upon time.
