ESAF Small Finance Bank Plot Loan

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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 yearsESAF small finance bank plot loan
  • 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.

  1. 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.
  2. 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

  1. 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.
  2. 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.

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