Cotact For loans - Loan Against Property FAQ

FAQs on loan against property:

  • Who can avail a Mortgage loan?
    Both salaried as well as self-employed group can avail Mortgage Loan, irrespective of the earnings.
  • Which factor determines the eligibility of a mortgage loan?
    The universal factors taken into account while formative the eligibility of loan against property is listed below:
    • Income
    • Age(minimum 21 years)
    • Property assessment
    • accessible liabilities(if any)
    • Current work knowledge
    • monetary Documents
    • Number of dependants
  • How much loan can I get?
    You can get a loan against property up to 80% of the registered price of your assets depending on the bank’s rule on the property type and valuation.
  • How would the value of my property be determined? The value of the property would be resolute through a valuation conducted by the loan supplier.
  • What is the difference between a home loan and loan against property?
    There is an enormous dissimilarity between a home loan and a loan against property. Home loan is taken only for the reason of buying a housing property while a loan against property can be taken for any principle.
  • What are the stages involved in availing the loan?
    • Application
    • Processing
    • Documentation
    • confirmation/Valuation
    • Sanctioning of the loan
    • expenditure
  • Is there any processing fee charged by the bank?
    Yes, a supposed fees and charges are to be rewarded to the bank depending upon their term and conditions.
  • What are the documents required for applying for a loan against property?

    For Salaried:
    • Application form with photograph
    • Identity and Address proof
    • Latest salary slips
    • Form 16
    • Bank statements(last 6 months)
    • Processing fee cheque
  • How much time does the bank take to disburse the loan?
    The processing of the loan generally takes 7 to 10 working days once all the documents are submitted. It also depends upon your profile and documentation.
  • Does the property have to be insured?
    Yes, the property has to be insured against flames, flood, earthquakes and other suitable hazards through the tenor of the loan.
Apply Here
Mobile No. +91
Attached Document
I authorize & its partnering Banks to call me with reference to my loan application & Agree to Privacy Policy and Terms and Conditions.
contact for loans