For anything that life throws up at you!! Do you need funds for marriage of your Son or daughter, want to take your family to a well-deserved holiday or for a sudden medical emergency? You have some property, but would rather not sell it? We now make it very much possible for you to only keep your property but also have liquid funds. With Loan Against Property you can leverage the economic worth of your property while continuing to enjoy occupancy of the same, so that you get immediate finance to meet a variety of personal and business needs. You can mortgage your residential to get a loan & meet all your financial requirements.
|Proof of Identity||PAN Card, Valid Passport, Voter ID Card, Aadhar Card|
|Proof of both residence||Valid Passport, Voter ID Card, Aadhar Card, Latest Utility Bill like Electricity / Telephone Bill|
|Proof of income||
|Property related documents||
All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.
Some of the factors which are considered when deciding on a loan amount are:
Your requirement and eligibility
Your repayment capacity: Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependents, spouse's income, assets, liabilities, savings history and stability and continuity of occupation.
You can opt for a loan period of up to 20 years, which can vary depending on the purpose of the loan and your profile.
If you are an individual – your spouse, your parents, or even your major children can be your co-applicants. The co-owner of a property has to be a co-applicant, but a co-applicant need not be the co-owner of the property.
After completion of above process, the Bank / Financial Institution will process the sanction and disbursement of your Loan.
The loan will be disbursed in full or in suitable installments taking into account requirement of funds.
In most cases, the property itself becomes the security till the entire loan is repaid.
Yes. You can make part prepayments with complete flexibility without any chargeWhat is Foreclosure Charges?
If the loan is under Variable/Floating Rate loan and the loan is prepaid through any source, no prepayment charges shall apply If the loan is under fixed rate, the pre-payment charges shall apply.