| Bank Name | Processing Fees | Interest Rate | Foreclosure Charge | Chances of Loan Approval | |
|---|---|---|---|---|---|
OfBusiness
|
2% | 18.00% | 2% |
|
|
Bank of Baroda
|
1% | 8% | 2% |
|
|
Bank of India
|
1% | 7% | 2% |
|
|
Bank of Maharashtra
|
1% | 9% | 2% |
|
|
Canara Bank
|
1% | 8% | 2% |
|
|
Central Bank of India
|
1% | 9% | 2% |
|
|
Indian Bank
|
1% | 8% | 2% |
|
|
Indian Overseas Bank
|
1% | 9% | 2% |
|
|
Karnataka Bank Ltd.
|
1% | 9% | 2% |
|
|
Punjab & Sind Bank
|
1% | 8% | 2% |
|
|
Punjab National Bank
|
1% | 9% | 2% |
|
|
State Bank of India
|
1% | 8% | 2% |
|
|
UCO Bank
|
1% | 8% | 2% |
|
|
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Union Bank of India
|
1% | 8% | 2% |
|
|
United Bank of India
|
1% | 8% | 2% |
|
|
Axis Bank Ltd.
|
1% | 9% | 2% |
|
|
Bandhan Bank Ltd.
|
1% | 9% | 2% |
|
|
City Union Bank Ltd.
|
1% | 8% | 2% |
|
|
DCB Bank Ltd.
|
1% | 8% | 2% |
|
|
Federal Bank Ltd.
|
1% | 8% | 2% |
|
|
HDFC Bank Ltd
|
1% | 8% | 2% |
|
|
.png)
ICICI Bank Ltd.
|
1% | 8% | 2% |
|
|
IDFC First Bank
|
1% | 9% | 2% |
|
|
IndusInd Bank
|
1% | 8% | 2% |
|
|
Kotak Mahindra Bank
|
1% | 8% | 2% |
|
|
RBL Bank Ltd.
|
1% | 9% | 2% |
|
|
|
RBL Bank Ltd.
|
1% | 9% | 2% |
|
|
South Indian Bank Ltd.
|
1% | 8% | 2% |
|
|
YES Bank Ltd.
|
1% | 9% | 2% |
|
|
Loan against property can help you to manage your personal & business requirements. Get up to 60% of property value with flexible tenure. Make sure you own residential, commercial or industrial property.
Loan Against Property Eligibility CriteriaGenerally, Loan Against Property Eligibility Criteria depends on various factors like age of individual, monthly salary or business income, total work experience & CIBIL Score ..etc.
Loan Against Property Eligibility Criteria for Salaried IndividualsNote: - Maximum Loan Amount of Salaried Individual can avail up to 1 Cr & Self- Employed Individual can avail up to 3.5 Cr.
What are the factors generally affecting Loan Against Property Eligibility Criteria?here are few factors that generally affects Loan Against Property Eligibility Criteria as given below: -
Borrower Age: -Lenders are concerned about your age, because the tenure will be decided on your current age, suppose if your age reached nearby 60 above or will be reaching within a 2 –3 years, then in this case your loan will be rejected.
Aim pact of earlier loan Rejection: -Generally, Financial institutions check your record that have you ever applied for loan & that has been rejected, if yes then it will also show on your credit profile which will affect your loan application.
Incomplete Property Documents: - Incomplete Property Documents: - Due to Incomplete Property Documents you will not get a loan, therefore, ensure that you have all the mandatory property documents with you like title deed, having approval from relevant authority, when you apply for loan against property.
Applicant Income: - Might be you are pledging your home as a collateral/security even though you need to show a regular source of income while applying for loan against property.
Low Credit Score: - Remember Lender check your credit score to know your repayment history like paying your bills on time or late, how much credit card you own & how far you maintain them properly, do you have existing loan or not by calculating these all-credit scores predict number if you have low credit score less than 750 then likely your loan application gets rejected.
What are the ways to increase Loan Against Property eligibility?To increase Loan Against Property eligibility, you need to consider Top 5 points as given below, this will aid you in increasing your eligibility level.
Maintain a Credit Score above 750: - Good Credit Score can be achieved only if you maintain a good record by paying bills on time, Paying EMI, not having multiple credit card & such other factors.
Repay Debt earlier: - Try to clear existing loan first, as it will help you getting better credit score and increase your eligibility criteria. Even you can be able to save money and stop paying your interest unnecessarily.
Prefer Longer Tenure: - Generally, a longer repayment period allows you a lot of time to pay back the principal loan amount which escape your by compressing overloaded monthly EMI.
Build better relationship with preferred lender: - If you are looking to avail loan, you will definitely search multiple banks & NBFC to compare the best deal which suits your needs & requirement, once you have fixed that from this bank or NBFC to avail loan, you must start build better relationship with preferred lender by opening account & maintain good transaction will help to enhance the chances of eligibility level.
Add your Family Member as Co- Applicant: - Various Banks & NBFC allow this feature to enhance your eligibility. You can add your working parents or your spouse as a Co-applicant while applying for loan against property, if you meet the eligibility criteria you will be able to get higher loan amount as you can afford to pay EMI without any restriction.
PHOTOGRAPHS 2
PAN CARD COPY
AADHAR CARD + PASSPORT
ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
PROCESSING FEE CHEQUE IN FAVOUR OF BANK
LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
PHOTOGRAPH BOTH
PAN CARD CLEAR COPY PROPRIETOR
ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
LAST 1 YEAR GST RETURN COPY
FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
PROVISIONAL FINANCIAL AY 2019-20
BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
PHOTOGRAPH PARTNERS
PAN CARD - COMPANY, ALL PARTNERS
ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
PARTNERSHIP DEED COPY
GST CERTIFICATE
GST RETURN LAST 1 YEARS
3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
PROVISIONAL FINANCIAL AY 2019-20
3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
ALL PARTNER SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS COMPLETE CHAIN WITH MAP
ALL DIRECTORS PHOTOGRAPH
CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
ADDRESS PROOF – COMPANY AND DIRECTORS
LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
1 YEAR GST RETURNS
ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently asked questions (FAQ) pages are Q&A-style pages that most brands build to answer queries that slip through the cracks. FAQs are targeted to give a complete sense of query satisfaction to the client.
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The Infrastructure Finance Company is yet another financial institution engaged in the principal business of infrastructure loan. The credit facility (term Loans, Project Loans, etc.) granted by the non-banking financial companies to the borrowers in the specific Infrastructure Sectors Viz.
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Along with the aforementioned sectors, infrastructure includes waste disposal services, such as garbage pickup and local dumps. Certain administrative functions, often covered by various government agencies, are also considered part of the infrastructure.
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Sometimes private companies choose to invest in a country's infrastructure development as part of a business expansion effort. For example, an energy company may build pipelines and railways in a country where it wants to refine petroleum. This investment can benefit both the company and the country.
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We do not require an external rating, but we will rate all of our transactions through our internal rating model which is aligned with the major rating agencies' criteria.
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Some of our mandates permit non-investment grade financing, as long as the debt is senior secured. Ticket sizes for non-investment grade vary across the sub-investment grade scale.
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Our mandates cover a wide range of maturity ‘sweet-spots’. We have financed facilities around eight years, as well as over 40 year facilities in the student accommodation sector.
CA Vikas Jain - Our Mentor
9863-02-02-02