| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | Chances of Loan Approval | |
|---|---|---|---|---|---|---|
Axis Finance Limited
|
10.00% | 1% | 500 | 180 |
|
|
Indian Bank
|
8.80% | 1% | 1000 | 120 |
|
|
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Aavas Financiers Limited
|
13.00% | 1% | 100 | 180 |
|
|
South Indian Bank Ltd.
|
10.70% | 1% | 1500 | 180 |
|
|
UCO Bank
|
9.40% | 1.00% | 200 | 120 |
|
|
Piramal Capital and Housing Finance
|
11.00% | 1% | 200 | 180 |
|
|
RBL Bank Ltd.
|
8.50% | 1% | 1000 | 180 |
|
|
Canara Bank
|
11.70% | 1% | 1000 | 120 |
|
|
IDFC First Bank
|
9.50% | 1% | 700 | 180 |
|
|
LIC Housing Finance
|
8.00% | 1% | 200 | 180 |
|
|
HDB Financial Services Limited
|
10.00% | 1% | 500 | 180 |
|
|
HSBC Bank
|
7.50% | 1% | 1000 | 180 |
|
|
IndusInd Bank
|
9.00% | 1% | 1000 | 180 |
|
|
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Union Bank of India
|
9.80% | 1% | 1000 | 120 |
|
|
Punjab National Bank
|
8.70% | 1% | 500 | 120 |
|
|
UGRO Capital
|
11.00% | 1% | 500 | 180 |
|
|
YES Bank Ltd.
|
8.50% | 1% | 1000 | 180 |
|
|
Central Bank of India
|
10.10% | 1% | 500 | 120 |
|
|
Tata Capital Financial Services Limited
|
10.00% | 1% | 500 | 180 |
|
|
Edelweiss Finance
|
10.00% | 1% | 300 | 120 |
|
|
Kotak Mahindra Bank
|
8.90% | 1% | 2500 | 180 |
|
|
DCB Bank Ltd.
|
9.00% | 1% | 1000 | 180 |
|
|
United Bank of India
|
10.75% | 1% | 1000 | 120 |
|
|
Bank of India
|
8.85% | 1% | 1000 | 120 |
|
|
Digibank (DBS)
|
9.00% | 1% | 1000 | 180 |
|
|
Standard Chartered Bank
|
7.50% | 1% | 1500 | 180 |
|
|
PNB Housing
|
9.00% | 1% | 1000 | 180 |
|
|
Indiabulls
|
9.50% | 1% | 750 | 180 |
|
|
Axis Bank Ltd.
|
9.50% | 1% | 1500 | 180 |
|
|
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ICICI Bank Ltd.
|
8.50% | 1% | 2500 | 180 |
|
|
HDFC Bank Ltd
|
9.25% | 0.50% | 3500 | 180 |
|
|
State Bank of India
|
8.45% | 1% | 750 | 120 |
|
|
Aditya Birla Finance Limited
|
10.00% | 1% | 500 | 180 |
|
|
Federal Bank Ltd.
|
9.50% | 1% | 1000 | 180 |
|
|
Bandhan Bank Ltd.
|
9.00% | 1% | 1000 | 180 |
|
|
Bank of Baroda
|
8.60% | 1% | 1000 | 12 |
|
|
Vistaar Financial Services Private Limited
|
14.00% | 1% | 50 | 180 |
|
|
IIFL
|
11.00% | 1% | 200 | 180 |
|
|
Hero FinCorp Limited
|
9.00% | 1% | 300 | 180 |
|
|
Deutsche Bank
|
9.50% | 1% | 500 | 180 |
|
|
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Cholamandalam Investment and Finance Company Limited
|
10.00% | 1% | 300 | 180 |
|
|
Do you need loan for personal or business purpose? Pledge your residential or commercial property as a collateral & get up to 90% of property value as a loan amount & enjoy other exclusive benefits. Just have a look forward to eligibility.
Loan against property Eligibility CriteriaEligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.
Loan Against Property Eligibility Criteria for Salaried Individuals
Note: - 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 salary Eligibility Criteria?There are few factors that generally affects Eligibility Criteria as given below: -
Stability of income: - This is one of the prime factor determining applicant repayment capability. Due to lack of regular sources of income your eligibility gets lower & loan application would face rejection.
Bad Credit Score: - You might be pledging your property as collateral while applying for loan, but lenders will look forward to credit score, if it ranges in between 300 – 650 then most likely your chance of getting loan reduces.
Choice of shorter tenure: - Usually, shorter tenure is good for them whom have multiple sources of income, they are capable of paying higher EMI on monthly basis, but when it comes to salaried person your overall expenses are dependent on monthly salary if it not up to the mark, then prefer to choose longer tenure as it will give you relax to pay smaller EMI which don’t affect you do other things & even lenders also give preference longer tenure applicant.
To increase loan against property eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level: -
Opt for Longer Tenure: - If you want to pay smaller EMI remembering not to influence your personal expenses then choose a longer tenure, it will not only give you comfort to pay but also help you increase your eligibility.
Do Payments timely: - Always pay bills on time, avoid having several credit card as it harm your credit score which led to lower score reduces chances of loan approval, do all payments timely without giving excuses to yourself as it enhances your chances of increasing eligibility.
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)
IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
AGREEMENT TO SELL COPY
PROPERTY PAPERS WITH CHAIN SANCTION MAP
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
AGREEMENT TO SELL COPY
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.
+
As a maximum repayment period to pay back the principal amount is 15 years.
+
Opting for a Property Loan is the best way to fulfill your financial needs as it offers lowest Interest Rates.
+
Yes, you can do it without making any penalty cases as most banks won’t charge you, but there are few banks demand you to pay 2% - 3% of principal amount as a pre-payment penalty.
+
If you are a salaried individual you can avail up to 1 Crore, in case if you are self-employed individual you can avail up to 3.5 Crore.
+
Generally, it was calculated on principal amount, Interest Rates & tenure specific period to repay amount & finally outcomes as a scheduled month wise EMI chart.
+
For a Property Loan you will be charged a processing fee up to 1% of loan amount borrowed by lenders.
+
Property loan can be used for various purposes like clearing existing high payable Emi debt, health expenses, children's higher studies & marriage either for business set-up.
+
Yes, if your income or property value is not up to the mark required by lender, then you can increase your eligibility just by adding your blood relation family members like husband,wife,mother,unmarried daughter, brother, son & father can be an co-applicant.
+
This type of loan come under secured category as you will required to pledge your property to get loan & offered by various Banks,NBFC’s & Financial Institution at low Interest Rates with flexible tenure to repay.
+
For Property Loan Interest Rate might vary from bank to bank, generally between 7.20% to 14.00% per annum.
CA Vikas Jain - Our Mentor
9863-02-02-02