Loan Against Property

OVERVIEW

Loan Against Property is the perfect way to unlock the hidden value of your property. This loan is generally availed by the people for business purpose to increase the turnover and manage the working capital for smoothly functions . This multi-purpose loan puts funds at your disposal to use any manners either for business or other purpose . This loan is available on very reasonable rate and you can repay with comfortably over as many as 15 years.
You can use the funds to expand your business, plan a dream wedding or even finance your child’s education.

FEATURES & OUR ASSISTANCE

A Multi-purpose loan for expansion of business or to meet your personal needs.
• Maximum loan amount against your income
• Loan against Residential property, Commercial property, Industrial property, Open Plots
• Loan up to 100% of property value.
• Choice of Tenure up to 20 years*
• Attractive Interest Rates. Our associations with leading Banks and NBFC’s helps you in availing best financial product available in market at lowest interest rates.
• Simplified Documentation
• Door step services
• Lowest processing fees
• No hidden charges
• No Post loan hassles

ELIGIBILITY & DOCUMENTS REQUIRED

Eligibility Criteria

Your eligibility depends upon your repayment capacity as determined by Financial Institution. Factors like your income, age, qualifications, number of dependants, spouse’s/Co-applicant income, assets, liabilities, savings history, stability, property value and continuity of occupation are considered while computing your eligibility

DOCUMENTS REQUIRED

1) Salaried

Duly filled application
Identity proof: (Pan Card / Passport / Ration card / Voter Id Card)
Passport size Photographs of all applicants
Address Proof
Latest form 16 and last 3 months salary slips
Last 6 months bank statement of salary account
Existing Loans Sanction letter/repayment track if any
Copy of property papers
Processing fee cheque

2) Sole Proprietorship / Partnership / Pvt Ltd Company

Duly filled application
Identity proof : (Pan Card / Passport / Ration card / Voter Id Card )
Passport size photographs of all applicants
Business Proof
Latest Address Proof
Last 2 years income tax return of directors / partner
Last 12 months bank statement of main operating account of the firm
Audited financials
Certified copies of MOA /AOA / Partnership deed as applicable
Professional qualification certificate , if applicable
Existing loans sanction letters/Repayment track record , if any
Copy of property papers
Processing fee cheque

Frequently Asked Questions: FAQ

Who can avail a Loan against property?

Individuals
Salaried Individuals: Any individual who is in permanent service in any government undertaking or any reputed private sector company in India. We also offer loans to salaried Non Resident Indians (NRIs) working with reputed companies in select countries. Professionals: Doctors, architects, chartered accountants, cost accountants, practicing company secretary, management consultants and lawyers. Self Employed: Individuals like traders, distributors, manufacturers, service providers etc
Non-Individual Entities
Proprietorship Firms, Partnership Firms, Private Limited Companies, Public Limited companies.

How much finance can I avail against the property value?

You can borrow up to 100% of the market value of your property subject to your income eligibility.

Do I need a co-applicant?

Yes. All the co – owners of your property will have to sign up as co-applicants. For a sole property owner or applicant, one adult member in the family will need to sign up as a co- applicant. In case of partnership firm or a company, partners and promoter directors respectively need to be co-applicants.

What is the applicable rate of interest?

The rate of interest varies depending upon your loan amount, property type, income and financial institution. Currently Loan against property rates starting from 10.25%

Can I make part pre-payment?

On submission of your entire documents in accordance with the Bank requirements it takes 7 Working Days. All loan approvals are at the discretion of the Bank.