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
Sachin is a seasoned mortgage finance professional with over 19 years of experience with proven track record of incubating, managing and scaling up diverse business processes for retail lending operations especially in the Housing Finance space
In his most recent assignment, he was part of the founding team and headed the sales vertical of the HFC business at Magma Fincorp. In this role at Magma, he was responsible to set up a robust distribution model, build healthy sourcing mix and risk controls / processes, design products /policies / credit screens, lead sales and marketing, and hire and retain employees for both Housing and SME business. Within two years, he successfully expanded the business to over 150 locations and built an overall profitable, sustainable and healthy portfolio of over INR 2500 Crore across Home Finance, LAP and Construction Finance
Prior to this, he successfully launched the home finance business for India Infoline and grew the business to over 75 locations with an asset base of INR 3000 Crore
He was Vice President, Mortgage business at Citi Financial and had the distinction of originating the highest business volumes for the company of over INR 125 Crore a month and managed the North India book of over INR 2000 Crore
He is an MBA by qualification. His hobbies include playing Squash and reading novels.Back