Utkal Grameen Bank Plot Loan Features
| Interest Rate | 8.90% |
| Plot Loan amount | Up to INR 3 Crores |
| Loan Tenure | 15 Years |
| Margin | 24% |
| Pre-payment Penalty | Nil |
Eligibility Criteria for Utkal Grameen Bank Plot Loan
- Indian nationality.
- Age group of 18-65.
- Stable income.
- Proof of profession.
- The property should be within municipal limits..
Benefits of Utkal Grameen Bank Plot Loan
There are various benefits for Utkal Grameen Bank Plot loan.
- Quick processing
- Less Documentation
- Low processing fee
- Less interest rate
- Customized EMI
Plot Loan
Everyone has a dream house to build. And while everyone has the motivation to do so, some might not have enough money to go with it. In such a case, Plot Loans are very helpful. Plot loans come with low interest rates, low processing fee and higher benefits. Every bank offers different rates to different borrowers.
1. Plot Loan Interest Rates
The rate of interest starts at 8.90%
2. Loan to Value Ratio (LTV)
Loan to value is a maximum of 70%.
3. Lower Tenure
The loan tenure is up to 15 years.
4. Tax Benefits
Tax benefits can be availed under section 80C after plot construction is completed.
5. Prepayment Penalty
Floating rate loans NIL prepayment penalty.
Types of Plot Loan Utkal Grameen Bank Provides
Plot Loan
This loan lets the borrower purchase an empty plot of land within municipal limits to construct a house or building on. The usage of the land depends on the borrower.
Plot + Construction Loan
This type of loan is given to construct a house on the land. The construction on the land has to begin on time.
Utkal Grameen Bank Plot Loan for Self-employed Individuals:
Utkal Grameen Bank Plot Loan has many benefits for self-employed individuals.
Who Can Apply for a Self-employed Utkal Grameen Bank Plot Loan
| LOAN AMOUNT | MAXIMUM FUNDING |
| Rs. 30 lakh – 75 lakh | Up to 80% of the document cost or the market value, whichever is the lowest. |
| Above Rs. 75 lakh | Up to 75% of the document cost or the market value, whichever is the lowest. |
Types of Plot Loans for Self-employed Individuals
- Adjustable-Rate Loan- This loan is revised after six months and is also called the Retail Prime Lending Rate Loan.
- TruFixed Home Loan- This loan is revised after 2/3 year. It comes with one half of adjustable-rate and the other half fixed rate.
Utkal Grameen 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 30 lakh) | 7.05 to 7.55 |
| For others* (up to 30 lakh) | 7.10 to 7.60 |
| For women* (above 30 lakh) | 7.30 to 7.80 |
| For others* (above 30 lakh) | 7.35 to 7.85 |
| For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
| For Others*(75.01 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 30 Lakhs) | 7.50 to 8.0 |
| For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
| For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
| For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
| For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
| For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
Utkal Grameen Bank Plot Loan Interest Rate for self-Employed Non-professionals
Adjustable Home Rate Loan
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| For Women* (Up to 30 Lakhs) | 7.20 to 7.70 |
| For Others* (Up to 30 Lakhs) | 7.25 to 7.75 |
| For Women* (Above 30 Lakhs) | 7.45 to 7.95 |
| For Others* (Above 30 Lakhs) | 7.50 to 8.00 |
| For Women* ( 75.01 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 30 Lakhs) | 7.65 to 8.15 |
| For Others* (up to 30 Lakhs) | 7.70 to 8.20 |
| For Women* (Above 30 Lakhs) | 7.80 to 8.30 |
| For Others* (Above 30 Lakhs) | 7.85 to 8.35 |
| For Women* ( 75.01 Lakhs & Above) | 7.90 to 8.40 |
| For Others*( 75.01 Lakhs & Above) | 7.95 to 8.45 |
Utkal Grameen Bank Documents Required for Self-employed
| ID Proof | PAN Card / Passport / Aadhar Card / Voter ID |
| Residence Proof | Driver’s License, Telephone Bill, Election or Ration Card |
| Education Qualification | Last qualifying degree |
| Proof of Business | Certificate or any other proof of business |
| Tax Returns | Last three years Income Tax Returns |
| Bank Account Statements | Last 1 year bank statements |
| Other documents | Processing fee cheque, photocopy of title documents of the property. |
Utkal Grameen Bank Plot Loan fees for Self-employed Individuals
Processing Fees:
The processing fee is Rs. 2,500 – Rs. 5,000
Pre-payment Charges
| Adjustable-Rate Home Loans | For loans sanctioned to individual borrowers with the firm, company, etc. as a co-applicant, prepayment charges are at 2% plus taxes. |
| Fixed-Rate Home Loans | Prepayment charges will be 2% plus tax and charges of the outstanding amount |
| Fixed and Variable Rate Loans | Fixed and Variable Rate Loans (Combination rate)
|
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 Trufixed 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
Up to 200 rupees
Fees on Account of External Opinion
The external opinion fees is paid by the borrower.
Property Insurance
Borrowers pay for the insurance.
Incidental Charges
The incidental charges are paid by the borrower.
Statutory / Regulatory Charges
The customer has to pay all the statutory and Regulatory 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 charges.
PDC Swap
Up to 200 rupees
Utkal Grameen Bank Plot Loan for Salaried Individuals
All salaried individual can make use of Utkal Grameen Bank Plot Loan.
Who can apply for a Salaried Utkal Grameen Bank Plot Loan
| LOAN AMOUNT | MAXIMUM FUNDING |
| Rs. 30 lakh to Rs. 75 lakh. | Up to 80% of the market value or cost of the property, whichever is lower. |
| Above Rs. 75 lakh. | Up to 75% of the market value or cost of the property, whichever is lower. |
Types of Plot Loans for Salaried Individuals
- Adjustable-Rate Loan- This loan is revised after six months and is also called the Retail Prime Lending Rate Loan.
- TruFixed Home Loan- This loan is revised after 2/3 year. It comes with one half of adjustable-rate and the other half fixed rate.
Utkal Grameen Bank Plot Loan Interest Rate for Salaried Individuals
Adjustable Plot Loan Rate
| Loan Slab | Home Loan Interest Rates (% p.a) |
|---|---|
| For women* (up to 30 lakh) | 7.05 to 7.55 |
| For others* (up to 30 lakh) | 7.10 to 7.60 |
| For women* (above 30 lakh) | 7.30 to 7.80 |
| For others* (above 30 lakh) | 7.35 to 7.85 |
| For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
| For Others*(75.01 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 30 Lakhs) | 7.50 to 8.0 |
| For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
| For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
| For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
| For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
| For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
Utkal Grameen Bank Plot Loan Documents For Salaried Individuals
| ID proof | Passport, PAN Card, Aadhar Card, Election Card |
| Residence Proof | Driving License, Telephone Bill, Ration Card, Election Card |
| Education Qualification | Last qualifying Degree |
| Salary Slips | Last three months’ salary slips |
| Bank Statements | Last six months bank statements |
| Others | Processing fee cheque and photocopy of title documents |
Utkal Grameen Bank Plot Loan Fees for Salaried Individuals
Processing Fees:
The processing fees is Rs. 2,500- Rs. 5,000
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 tax and charges of the outstanding amount should be prepaid through any financial institution or a bank. |
| Fixed and Variable Rate Loans | Fixed and Variable Rate Loans (Combination rate)
|
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
Up to 200 rupees
Fees on Account of External Opinion
The fee of technical advocates is paid by the customer.
Property Insurance
Borrowers pay for the insurance.
Incidental Charges
The incidental charges are paid by the defaulter.
Statutory / Regulatory Charges
The customer pays for all the Statutory and Regulatory 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 and applicable tax.
PDC Swap
Up to 200 rupees
How to apply for Utkal Grameen Bank Plot Loan with Dialabank
- Visit us online at www.dialabank.com.
- Fill the form on the top of the page with your details.
- Our Customer Relationship manager will get in touch with you.
- We will connect you to the best bank.
- Get Fast approval.
Documents Required to get Utkal Grameen Bank Plot Loan
- 2 Recent Passport Size Photographs.
- ITR of last 2 years.
- Duly filled Application Form
- Id proof
- Address proof
- Account statement
Utkal Grameen Bank Plot loan with Construction vs Home Loan
| Parameters | Land Loan with Construction | Regular Home Loan |
|---|---|---|
| Plot + Construction loan interest rates | Rates are the same for a home loan, but the plot + Construction Loan interest rates can be higher if you want the construction period to be longer than usual | Interest rates are start from 6.75% |
| LTV | Up to 70% of the property’s value | Up to 90% of the property’s value |
| Tenure | Up to 15 years | Up to 30 years |
| Tax Benefits | The plot loan availed for construction and its benefits can be claimed post completion of the construction | On principal amount under section 80C and interest amount under section 24(b) |
| Prepayment Penalty | Nil for individuals on floating rates | Nil for individuals on floating rates |
FAQs
✅ What is the plot loan interest rate in Utkal Grameen Bank?
It starts at 8.90%
✅What is Utkal Grameen Bank Plot Loan?
in the situation where you do not have enough money to buy a land, Plot Loans are very helpful. Plot loans come with low interest rates, low processing fee and higher benefits. Every bank offers different rates to different borrowers.
✅How much processing fee is applicable on Utkal Grameen Bank Plot Loan?
The processing fee starts at 0.25%
✅What is the loan tenure of the Utkal Grameen Bank Plot Loan?
Up to 15 years
✅How much EMI per lakh can be fixed on Utkal Grameen Bank Plot Loan?
The EMI per lakh depends on the loan tenure and loan amount.
✅How can I avail plot loan from Utkal Grameen Bank?
Visit the branch or check online to apply for Utkal Grameen Bank Plot Loan.
✅How to apply for Utkal Grameen Bank Plot Loan?
Know your eligibilty and apply for it online or by visiting the branch.
✅How to repay the Utkal Grameen Bank Plot Loan earlier than the schedule?
Extra payments will prepay the loan.
✅Is it possible to repay my loan earlier than the schedule?
If the borrower has enough funds, the loan can be repaid earlier than schedule.
✅How to check Utkal Grameen Bank Plot Loan eligibility?
By going to the Bank or checking it online on Dialabank.
✅What is the Utkal Grameen Bank Plot Loan phone number?
The Plot Loan number is 9878981144
✅What is the Plot Loan interest rate for women?
It starts at 8.60% .
✅What is Utkal Grameen Bank plot loan interest rates for salaried individuals?
It ranges from 7.05% to 8.00%
✅What is Utkal Grameen Bank plot loan interest rates for self-employed professionals?
It is between 7.25% to 7.75%
✅What is Utkal Grameen Bank plot loan interest rates for self-employed non-professionals?
It is between 7.25% to 7.75%
✅How is a plot loan different from a home loan?
A plot loan lets a borrower purchase an empty piece of land and a home loan is for an already built house.
✅Can I take a plot loan with a home loan?
Both these loans cannot be taken together.
✅What is the maximum amount that I can take as a loan?
The loan gives maximum 70% LTV
✅Can a plot loan be taken on any plot, anywhere?
The plot has to be within municipal limits.
✅What is a Balance Transfer on Plot Loan?
The Balance transfer is 6.75%.
✅Do I get any tax benefits on a plot loan?
For a Plot loan taken with a construction loan, tax benefits are available.
✅How many years can I keep the plot of land before starting construction?
The construction should be started before the timeline stated by the bank.
