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About Loan against Property

A loan against property is a solution for you. You can avail funds for your personal or business expenditures with a help of banks or Financial Institution. You can use these funds for renovating, purchasing a commercial property, new furniture, household appliances, starting a business, as a Capital for your existing business, for growing an existing business, for Holiday trip. You can raise a large loan through a loan against property with longer terms which will lead to lower EMI at a lower rate of interest. It also means that you can raise funds without selling your property and in return, you pay an interest rate lower than unsecured loans.

Types of Loan against Property

Loan against Residential Property

A loan against the mortgage of residential property which can be self occupied or rented. The loan is given on property’s market value, which is around 60-70 % however it varies from bank to bank

Loan against Commercial Property

A loan against the mortgage of Commercial property which can be self occupied or rented. The loan is given on property’s market value, which is around 50-60 % however it varies from bank to bank

Purchase of Commercial Property

A loan given for the purchase of commercial property, normally bank gives 90 to 100 % of document cost subject to 50 to 70 % of market value. However it varies from bank to HFC.

Lease Rental Discounting

Lease Rental Discounting (LRD) is a term loan offered against rental receipts derived from lease contracts with corporate tenants. It is based on long-term cash flow from banks using rental receipts as collateral.

Overdraft facility against Property

Overdraft facility against Property help you manage your fund requirements for business needs with the Drop-line Overdraft against Property where you pay only for what you use.

Balance Transfer

This allows you to transfer the balance on your Loan against Property to a new loan structure with new Bank. We normal transfer the Loan from one bank/NBFC to reduce the present higher rate with Bank/HFC, Service Issue or Enhancement of Present loans.

Top Up Loan

Top-up loan is provided by financial institutions to borrow eligible amount of money over & above loan you are transferring from Bank/HFC. Top-up loan is provided for purposes of modification or construction of your house or to meet your personal expenses like funding for children’s education, etc. However, you cannot utilize the top-up loan amount for speculative purposes. Top-Up rate will always be cheaper as compared to persona loans interest rate

NRI Loan Against Property

NRI Loans against property is provided by few Bank/NBFC only in case of residential property and should be in name of NRI.

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Features of Loan against Property

Lowest Interest Rate

We help you to get lowest rate of interest. Low EMI & Low-Interest Rates from Top Banks of India. Compare & Apply.

Service at your door step

No need to Vist Bank for your Loan. We will do it for you. We will arrange Bank Person to visit you at convenience so that you have time for other work.

Maximum Loan Eligibility

Why to go for less. We offer maximum eligibility on your property, Get a loan worth up to 60 to 70% of the market value of the property with longer repayment tenures with lower interest rate.

  • Aged between 21-65 years.
  • Our high loan amounts
  • Minimum 2 years of total work experience with regular source of income.

Easy Repayment

Taking loan involves a lot of research and running around to know more about Payment option. We will make this simple and easy for you. You can choose paying monthly EMI( Term Loan) or Interest on amount you use ( Over Draft Facility) or Pay your EMI from rent received from rented property(Lease Rental Discounting).

No Prepayment Penalties

By RBI Circular dated – May 7, 2014 ,  it was advised that banks will not be permitted to charge foreclosure charges/ pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect.

Grid Explain to in brief but you also need to check with the respective Bank/HFC for detail:

Borrower Type Fixed Rates Floating Rates
Individuals Foreclosure Charge Applicable Not Applicable
Non Individuals Foreclosure Charge Applicable Foreclosure Charge Applicable

Debt Consolidation

If you are juggling too many loans or credit card,  loan against property helps you in consolidate your debt. By doing this you can reduce your financial burden, improve your financial disciple & saving. When you are consolidate your debt into Single EMI it reduce your EMI burden and interest that your are paying.

Tax Benefit

Indian Income Tax Act doesn’t allow any tax deduction or exemption on personal loans. However business person can take benefit of interest paid as expense in P/L.

Documents For Loan

We only need some basic documents to process your Home Loan. Here’s a handy guide to keep in mind

Salaried Individuals

Documents for Salaried

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