Loan Against Property/ Mortgage Loan Approval

Get instant soft approval from the loan against the property by mortgaging your residential or marketable commercial property. Get up to 100% loan amount on your property’s value within seven working days. Interest rate starts from 8.50% from over 40 Banks & NBFCs.

We provide Loan against property on residential, commercial & Industrial Property.

The loan which is provided against any collateral mortgage property is called Property Mortgage Loan or Loan Against Property. Normally all the private sector and public sector banks are aggressively providing property loans in India. Apart from banks, lots of NBFC are also providing mortgage loans in Pune. Due to high competition in these products, there are lots of advantages to loan customers. They get low-interest rates with higher tenure.

In case of loan against property, the approval takes time of 6 to 10 days. Banks take the charge of property at the time of loan disbursal. Key players like HDFC bank, ICICI Bank, ING Vysya Bank, Kotak Mahindra, Axis Bank etc. are the major stake holder from private sector banks in India. Banks interest rates are normally 8.50 % to 16.00 % in reducing the balance.

Property Loans/ Mortgage Loan

  • Property Loans start from Rs 2 Lacs onward depending on your property valuation and your individual eligibility.
  • Loan against property can be borrowed up to 100% of market value of the same property.
  • Easiest and Flexible for taking option between an EMI based loan or overdraft facilities.
  • Property loan is available with the option of high tenure loans for the low burden of repayment.
  • Low MCLR rate and maximum tenure with low-interest rates as the comparison with a Personal loan or Business loan.
  • Simple documentation and speedy processing.
  • Property Loan avail for salaried & self-employed individuals or company also.

Features of Loan Against Property

  • It is the second cheapest loan in the market after Home Loan. It works out to be much cheaper than the Business loan which is usually issued at interest rates in the range of 8.50% – 16.00%.
  • On the basis of security, they provide longer tenure. The tenure for a Loan Against Property is usually longer than a personal loan. Generally, based on a secured loan tenure goes up to 15 years.
  • Due to a secured nature of loan the another quality of LAP is the lower rate of interest which makes this product lowest EMI product.
  • LAP requires normal documentation like the personal loan or business loan. Only property documents added for the collateral purpose.

Mortgage Loan Interest Rates 2019

Banks Name Interest rate Processing fees
Special Offer 8.50 % 0.75 % + GST
ICICI LAP 10.00 % to 12.00 % 1 % + GST
IDFC Bank Ltd 8.75 % to 10.75 % 1 % + GST
RBL Bank Limited 10.50 % to 12.75 % 1 % + GST
L & T Finance Ltd 10.75 % to 12.50 % 1 % + GST
India bulls 09.00 % to 11.75% 1 % + GST
Deutsche Bank 9.00 % to 10.00% 0.75 % +GST
DCB Bank 10.00 % to 12.75% 1 % + GST
Cholamandalam 10.00 % to 12.75% 1 % + GST
Capri Global 12.00 % to 13.75% 1 % + GST
Reliance Capital 11.00 % to 12.75% 1 % + GST
DHFL 10.00 % to 12.75% 1 % + GST
Shriram Housing 12.00 % to 18.00 % 1 % + GST
Aadhaar Housing 13.00% to 15.00 % 1 % + GST
Capital First 13.00% to 18.00 % 1.5 % + GST
Aditya Birla Home Finance 10.00% to 12.00 % 1 % + GST
Magma Housing 12.00% to 15.00% Upto 2 % + GST
Yes Bank 10 % to 11 % 1 % + GST

 

SK SERVICES brings you best offers and wide comparison for Credit Cards of your choice. Many financial institutions in India compete to provide such contemporary solutions for personal financing. The banks like HDFC, ICICI, AXIS, Citi Bank offer variety of credit cards. The list of cards falls into various categories such as Cash-back, Rewards, Travel and Business.

Process

The loan against property goes through the following stages.

  • Application for Loan.
  • Processing of Application.
  • Loan Documentation.
  • Initiation for Verification / Valuation of property.
  • Credit Sanctioning of the Loan.
  • Disbursement of Loan.

Documentation Required for Loan Against Property

  • Identity Proof
  • Residence Address Proof
  • 6 month Bank Statement
  • 3 month salary slips
  • Previous or current job experience proof
  • Form 16 for previous employment / ITR for self employed
  • Property Document

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

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