Loan Against Property

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MORTGAGE LOAN (PROPERTY LOAN)

A Mortgage Loan is a money advance given by a financial institution /bank against your property. The property could be your house, a piece of land or any other form of personal or commercial real estate in your name. This makes it a secured loan, which means the lender can forfeit your property if you fail to repay the loan. If you are buying property for the first time, you can use it as collateral to get a Mortgage Loan. The biggest advantage of this loan is that you can continue using the mortgaged property while repaying the loan. Once the loan is paid in full you are returned complete ownership of your property. The loan is given as a certain percentage of the market value of the property. Generally we are lending up to 50% of the value of the property.

Eligibility

  • The best part about Loan Against Property eligibility is that any person above 21 years of age with a valid ID proof and own property/land.

Loan Scheme

Loan Scheme

  • Simplified documentation.
  • Easy and convenient loan.
  • Attractive interest rates.
  • No hidden charges.
  • Quick processing.
  • Flexible loan repayment options based on your income.

  • What are the supporting documents required while applying for the loan?
    Common Requirements for all Applicants:

    • Application form duly filled in (with photograph of the entire applicant).
    • Copy of approved plan and sanction letter from local authority.
    • Copy of NA permission.
    • One/two guarantors/forms and salary certificates. - If guarantor is in business, copies of I.T. returns or assessment orders for the last three years are required.
    • Bank Pass-book or statements for the last one year.
    • Latest salary slip/statement showing all deductions in case of employed applicants.
    • Certified copies of Balance Sheets and Profit and Loss accounts, IT acknowledgments, advance tax challans (for company / firm and personal account) for the last three years in case of self employed applicants.
    • Memorandum/Articles of Association for companies, partnership deeds for firms and a brief profile of your company/ firm in case of self employed applicants.

    Additional Requirement:
    A. (In case of purchase from builder)

    • Copy of Agreement for sale.
    • Copy of registration receipt.
    • Copy of sanctioned plan & sanction letter of the competent authorities.
    • Copy of NA permission/ULC order.
    • Copies of receipts of payments already made.
    • NOC from builders in our format.