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Loan Against Property

 
Eligibility

Individuals who are income tax assesses;

Age limit: Minimum 21 years and Maximum 65 years.

Quantum of Loan

Minimum Rs.1.00 lac and maximum Rs.500.00 lac.

Maximum outer limit for finance would be subject to:

  • For salaried persons Maximum 48 times the net monthly income (Net of all deductions including TDS)
  • For others : Maximum 4 times the net annual income (income as per latest IT return less taxes payable)

The income of the spouse / major son may be added if he/she is a co-borrower.

Margin Finance up-to 50% of the realizable value of the property, subject to loan amount & outer limit.
Rate of Interest Please click here For rate of interest
Repayment of loan Maximum 12 years based on repaying capacity of the borrower subject to 40% take home salary/income after all deductions. Repayment to be scheduled in a manner so that the loan is adjusted by the age of 70 years of the borrower. In case any younger Co-borrower is proposed having 50% or more contribution towards IIR (Installment to income ratio), the eligibility criterion w.r.t. age of the younger Co-borrower may be considered.
Processing Fee Please click here For Processing fee
Documentation charges Actual expenses with respect to charges for property legal opinion, index, valuation, mortgage fee and stamp papers etc.
Security Mortgage of the Immovable property acceptable to the Bank.
Guarantee

Spouse/ Major son/ Third party

(In case spouse or major son is co-borrower then guarantee may be waived).

Prepayment The borrower may opt to prepay / adjust the loan from his own verifiable legitimate sources or genuine sale without attracting any penalty, except take-over of the loan by other bank/ FI/ NBFC, which would attract prepayment @1% of the balance loan amount
For Hot Listing (Blocking)
ATM/Rupay Cards ATM/RuPay Card
1800-103-2278
044-47415691/2/3/4/5
For Balance Enquiry
(By Missed Call) 9223984344 (Toll Free)
All India Toll Free 1800-419-8300