Loan Against Property

FAQs

• • For whom is the Loan Against Property useful?
    • Sole proprietors / proprietorship firms
    • Partnership firmst
    • Private-limited companies
    • Closely-held and public-limited companies
  • What is the maximum tenure of the loan?
    The maximum tenure for which you can avail the facility is up to 15 years
  • What do I need to give as security?
    We accept both residential and commercial property as security. No plot or under construction properties will be allowed
  • Can I prepay my loan?
    Pre-payment is not permitted in the first 12 months of the loan. You can pre-pay your loan with pre-closure charges of 2% of the outstanding at the time of closure (service tax will apply additionally)
  • Can I part prepay my loan?
    You can part prepay your loan with pre-closure charges of 2% of the amount being part prepaid (service tax will apply additionally)
• • What is the minimum and maximum annual turnover eligibility?
    • Minimum turnover of Rs. 90 lakhs
    • Maximum turnover of Rs. 168 crores
  • What is the interest rate on the facility?
    We offer attractive interest rates on the facility depending on loan amount, credit assessment and other parameters. Further details will be provided by our sales officer
  • What are the basic documents required for applying for the facility?
    • Bank statements for the last 6 months
    • 2-year financials including Profit & Loss (P&L) statement, balance sheet and income tax returns
    • Documents related to establishment of entity, identity and address proof documents
    • Specific details would be provided by the sales officer
  • What is the turnaround time for the disbursal of the loan?
    Disbursal of the loan will take a minimum of 5 working days from the time of submission of loan related documents as requested by the bank