We value your relationship with Ummeed Housing Finance Private Limited
It has been our endeavor to provide you the best services. In order to make our product & services available to the clients on a regular basis; we need to keep the same aligned to the market trends. As you are aware that your existing loan with Ummeed Housing Finance is on "Floating Rate of Interest" and this rate of interest is intrinsically influenced by the economic situation and other factors effecting the lending business and are also based on the type of loan, loan size, type of security provided, security cover, tenure of loan and risk profiling etc.
Therefore in view of the aforesaid, we wish to inform you that with effect from 5th Aug'19 ("Said Date"), we have revised the URR (Ummeed Reference Rate) by 0.5%. This change will effect in the upward revision of your existing rate of interest by 0.5% .
Therefore, with effect from the "Said Date" mentioned above, interest is payable by you as per the aforesaid revised Rate of Interest on the outstanding loan amount availed by you from Ummeed Housing Finance Private Limited under the loan agreement and other documents executed by you with/in favour of Ummeed Housing Finance Private Limited. Please note that effect of the revision as aforesaid will be on the tenure of the loan while we have kept the EMI amount same.
All other terms & conditions of the loan documents shall remain the same. This is without prejudice to the provisions of the loan agreement
Assuring you the best of our services.
For Ummeed Housing Finance Private Limited
Mr. Alok Prasad, is a veteran banker and Ex. CEO of Microfinance Institutions Network, (MFIN),India (2010-2015). He has held senior positions across institutions ranging from the Reserve Bank of India (RBI) to Citibank. As a member of the start-up team of the National Housing Bank (NHB), Mr. Prasad was closely involved with the policy formulation for development of the housing finance sector.
Seamlessly straddling the government/regulatory world with that of the private sector, Mr. Prasad successfully steered the microfinance industry through its crisis phase. The subsequent main streaming of MFIs and their integration into the national financial architecture has been an outcome of the advocacy work done by MFIN, under his leadership. Passionate about financial inclusion and regulatory issues, Mr. Prasad has worked closely with the RBI, the Government and the Microfinance industry for development of an appropriate policy framework for promoting access to finance in India.
Mr. Prasad also served as the Chairperson of the South Asian Microfinance Network (SAMN) for the period 2013-15. Regarded as an expert and ‘go to’ person for financial inclusion and mortgage lending,
Mr.Prasad is currently connected with a number of Banks/Financial institutions, in an advisory capacity.Back