Shivalik Small Finance Bank Housing Loan Overview
Shivalik Small Finance Bank Housing Loan is designed to support individuals in fulfilling residential property requirements. It can be used for purchasing a new home, constructing a house, renovating an existing property, or extending residential space.
The loan amount is determined based on the applicant’s repayment capacity, income profile, and property valuation. Borrowers repay through Equated Monthly Instalments (EMIs), making repayment structured and manageable over the selected tenure.
Shivalik Small Finance Bank Housing Loan Highlights
| Particulars | Details |
|---|---|
| Loan Type | Housing Loan |
| Purpose | Purchase, construction, renovation, extension |
| Security Required | Mortgage of property |
| Applicant Type | Salaried, Self-employed |
| Repayment Mode | EMI |
| Application Mode | Online / Branch |
| Loan Amount | As per eligibility |
| Tenure | 12 to 360 Months |
| Processing Fee | 1% of loan amount (min ₹1,500) + GST |
Key Features of Shivalik Small Finance Bank Housing Loan
| Feature | Description |
|---|---|
| Housing Finance Support | Covers all major residential needs |
| Flexible Loan Structure | Based on eligibility and repayment capacity |
| Long Tenure | Up to 30 years repayment period |
| EMI Facility | Monthly structured repayment option |
| Standard Bank Charges | Applicable as per schedule |
Benefits of Shivalik Small Finance Bank Housing Loan
Shivalik Housing Loan helps individuals manage residential property expenses without arranging full upfront funds. It provides structured EMI-based repayment and long-term financial flexibility.
The loan is suitable for borrowers seeking affordable housing finance with transparent charge structure and flexible repayment planning.
Common Uses of Shivalik Small Finance Bank Housing Loan
| Purpose | Description |
|---|---|
| Home Purchase | Buying residential property |
| Home Construction | Building a new house |
| Home Renovation | Improving existing property |
| Home Extension | Expanding living space |
Eligibility Criteria
| Criteria | Requirement |
|---|---|
| Nationality | Indian Resident |
| Employment | Salaried or Self-employed |
| Income | Stable and verifiable income |
| Age | As per bank norms |
| Credit Profile | Good credit history preferred |
| Repayment Capacity | Must meet bank assessment norms |
| Property | Must meet legal and technical standards |
Documents Required
| Document Type | Purpose |
|---|---|
| Identity Proof | Verification |
| Address Proof | Residence proof |
| Income Proof | Financial assessment |
| Bank Statements | Transaction history |
| Property Documents | Property verification |
| Photographs | Application processing |
Fees & Charges
| Charge Type | Fees & Charges |
|---|---|
| Processing Fee | 1% of loan amount (min ₹1,500) + GST |
| Bounce Charges | ₹600 + GST |
| Overdue Charges | 2% per month on overdue amount |
| Valuation Charges | As per actuals |
| Legal Charges | As per actuals |
| Pre-Closure Charges | NIL |
| Prepayment Charges | NIL |
| Notice Charges | ₹100 per notice + GST |
| Legal Notice Charges | As per actuals |
| Duplicate Statement Charges | ₹100 + GST |
| Recovery Charges | As per actuals |
| CERSAI Charges | As per actuals |
| Stamp Paper Charges | As per actuals |
| Insurance Charges | As per actuals |
| Vetting Charges | As per actuals |
| Publication Charges | As per actuals |
| Documentation Charges | Up to ₹25 lakh: ₹1,000 + GST; Above ₹25 lakh: ₹2,000 + GST |
| Solvency Certificate Charges | ₹5,000 + GST |
| Amendment Charge | 0.25% of outstanding (max ₹5,000 + GST) |
Factors Affecting Loan Eligibility
Loan approval depends on income stability, repayment capacity, credit history, existing obligations, and property valuation. Strong financial profiles improve approval chances.
Loan Repayment Planning
Repayment is done through monthly EMIs over the selected tenure. Borrowers can choose repayment duration based on financial comfort and long-term planning.
Example Usage Scenarios
| Requirement | Purpose |
|---|---|
| Home Purchase | Buying a house |
| Construction | Building residential property |
| Renovation | Home improvement |
| Extension | Additional space |
How to Apply for Shivalik Small Finance Bank Housing Loan
Visit nearest branch
Collect application form
Submit required documents
Provide income and property details
Complete verification process
Property valuation by bank
Loan approval and sanction
Loan disbursal
Why Choose Shivalik Small Finance Bank Housing Loan?
This housing loan is suitable for individuals seeking structured and transparent home financing. It offers EMI-based repayment, flexible eligibility evaluation, and clear charge structure as per bank policy.
Frequently Asked Questions
What is Shivalik Housing Loan used for?
It is used for purchasing, constructing, renovating, or extending residential property.
What is the processing fee?
1% of loan amount (minimum ₹1,500) plus GST.
Is prepayment allowed?
Yes, prepayment and pre-closure charges are NIL.
What is the loan tenure?
Up to 30 years (360 months), depending on eligibility.
What charges apply on delay?
Overdue charges are 2% per month on overdue amount.
