Property Loan

Property Loan

Mortgaging existing property is a great way to get a loan at low interest rates to meet the current financial needs. Loan against Property (LAP) can unlock the financial potential in your property. The property is mortgaged and a fixed percentage of the prevailing market value of the property (normally between 60-70% of the value of the property) is given to the borrower as a loan.

Being cost-effective, these loans are reasonably convenient to avail and repay due to the relatively low interest rates and extended loan tenors.

ELIGIBILITY CRITERIA

Your eligibility is determined after looking at the following

• The current market value of your property and its current status
• Your current Income
• The nature and continuity of your employment
• Your current obligations i.e. the other instalments (EMIs) you are currently paying, the number of credit cards and credit limits you have or use
• Your past credit history
• The purpose of availing such loans is also discussed with the lender and may have a bearing on the loan sanction

Loan Process

The loan will be carrying a flat rate of interest 5% - 9.50% or as per avail by financial institutions under norms of RBI Govt. of India per annum flat / reducing basis. This loan will be avail by us from different sources or others financial institutions i.e. Banks / NBFC / FDI etc.

loan will be avail for minimum period of 1 year and maximum for 20 years or as per financial source companies terms. Loan will avail upto 80% of property market value. That the Installments may be payable on monthly/quaterly/ yearly basis. That all the documentation should be completed by loanee in prescribed time period otherwise your loan application will be dismiss/rejected automatically.

Company will take surites to secure loan amount as per RBI norms. Loan amount and disbursement will avail at solemnly discretion of company/financial institutions.