Loan against property is a form of loan facility available to individuals and businesses against the mortgage of a commercial or residential property. Your property can help you fulfil your personal and business needs. It is a secured loan in which the borrower provides property as collateral for the loan amount. Once the lender's documentation is completed, the borrower can get up to 70% of the property's worth. A borrower may be able to repay the loan over a longer length of time if the lender's policy allows. The loan against property interest rate varies with the value of the property, your credit score, and the loan amount.
Funding against industrial/commercial/residential premises, open NA plots, schools & colleges, hospitals & warehouses, etc.
High loan to market value ratio (up to 100%) and tenure up to 20 years. No capping on loan amount.
Provision to convert ongoing CC / term loan into a long term funding option; thereby reducing the monthly EMI.
Can avail the same funding in the form of drop line over draft; so as to get rid of regular EMI burden.
Option to avail the combination of term loan and drop line over draft in any proportion.
Easy Loan Approval
Enough Time to Pay Back
Low Interest Rates
Low Interest Rates| 2 | Last two years’ complete financials |
|---|---|
| 3 | Proof of income: bank statements, income tax returns etc. |
| 4 | Last 12 months’ Current and Cash Credit account statements |
| 5 | Property deeds, registration certificates, property tax documents etc. |
| 6 | Property documents (for cases involving mortgage) |
| 7 | A copy of Identity proof i.e, Addhar card, Driving License, Voter ID Card |
| 1 | Borrower should have a source of income. |
|---|---|
| 2 | The type of property (commercial, residential, Self occupied and Non-self occupied). |
| 3 | Good track of existing loans |
| 4 | Credit score of 750 or more (It has nothing to do with your eligibility to take a loan, but it helps to get a loan at attractive interest rates). |
Copyrights @ 2024 & designed by Novami Infotechs