How to Get Loan Against Property In Delhi

In this article we are going to see how to get a loan against property or mortgage loans. As reputed private financers in delhi we are going to cover the following topics in this blog.

• Features and Benefits of property loan

• Interest rate details

• Eligibility criteria

• Document required for loan

• Charges required

• Prepayment benefits

What is Loan against property or mortgage loan:

Loan against property is a type of loan in which you can keep your property as collateral to avail rent. You can get upto 70% of your property value. For example if your property’s worth is 1 cr then you can avail loan upto 70 lakhs.

Benefits of Loan against property:

• You can get loans against property on various types of properties like flat, house, rented property, land, office building etc.

• Tenure in home loan higher as compared to other types of loan. Tenure is maximum 15 Years. applicants can choose your tenure as per your convenience.

• Borrowers can get upto 2 lakh rupees tax benefit on the interest rate you pay for loan against property.

• Loan against property is very easy to get. Because it’s a secure type of loan hence banks and financial institutions are more willing to give loan against property.

Interest rates:

Interest rates are different as per the financial institution and banks. Following are the interest rates of some reputed banks of india.

Bank

Interest Rate

Tenure

Lowest EMI Per Lakh

SBI

8.80% Floating

30 years

• 790

HDFC

8.75% Fixed

30 years

• 787

ICICI Bank

8.90% Fixed

30 years

• 797

PNB Housing Finance

9.80% Fixed

30 years

• 863

Axis Bank

10.50% Fixed

30 years

• 915

Citibank

7.30% Fixed

25 years

• 726

Eligibility criteria:

The applicant should be 21 years old and should be indian citizen.

Government banks do not give loans to the NRIs but non banking financial institutions can give loans to the NRIs. applicants earning and credit score should be good to take loan against property.

Documents Required:

• 3 years income tax return

• If you are a employee then salary sleeps are required

• Documents of property

• Age Proof and address proof

• Your bank statement (optional)

Charges required 1. Processing fee:

Processing fee is upto 0.5 percent of your loan amount. Processing fees are different as per the NBFCs and banks. Processing fee is non refundable.

2. Closing charges:

You need to pay closing charges if you want to close your loan before the 3 to 5 years of your tenure. These charges vary as per the banks and NBFCs.

3. Other charges:

About Vintage Finance:

The history of VINTAGE CREDIT AND LEASING PVT. LTD. has been one of ceaseless climb where our effort to empower our customers has been a constant element. A strong set of values, an advanced heredity and group of highly motivated individuals is what we started with 28 years back in the year 1992.

VINTAGE CREDIT AND LEASING PVT. LTD. is RBI REGISTERED FIRM AND A NON-BANKING FINANCE COMPANY (NBFC). We are engaged in offering comprehensive services of Personal loan, Auto Loan, Loan Against Property. Our services offer various terms and renewal plans as per the requirement of the clients. We follow a well documented procedure while delivering our services for the utmost satisfaction of the clients.

A team of financial experts help you in investing in different schemes that can offer you high returns of your money. We understand the customer needs and try to fulfill their requirement as per needs. We are here to answer all your queries and help in getting loans quickly for any purpose. Besides this we extend our assistance for different financial products and services. Come, walk with us through the journey of time and take a glimpse of how Vintage Finance grew with all those who believed in it.

HI i am riya sharma. and i am working as digital marketer at vintage finance one of the reputed private loan company in delhi.