How much loan I can get against my property?
The maximum amount you can get in the form of a loan is 60 times your salary. So if your net salary is ₹ 40,000 you can get a maximum loan amount of ₹ 24,00,000.
Which NBFC for loan against property?
Comparison of Loan against Property from Top Providers
| Bank/NBFC | Institution Type | APR |
|---|---|---|
| HDFC Bank | Bank | 8.5% – 9.54% |
| Indiabulls | NBFC | 11.50% – 15.00% |
| Kotak Mahindra Bank | Bank | 11.49%-20.15% |
| Orix Leasing & Financial Services India Ltd. | NBFC | 14.60%. |
Can I get loan against property without registry?
You cannot get a home loan without the registration documents. The bank wouldn’t even accept your application form without the registration documents. Registration documents are one of the primary requirement to process a home loan. Banks do not give loans for unregistered properties.
Can I get loan on my property?
You can use your self-occupied residential or commercial property to borrow a loan. The property is used as collateral and the loan is disbursed by the lender as per the property value and your income to pay back the borrowed amount.
Do we need to submit original documents for loan against property?
Financial documents (any of the below):…Submit the documents listed below and get a Home Loan / Loan Against Property sanctioned in 5 days!
| Aadhaar Card | Driving License | Voter ID |
|---|---|---|
| GOI Issued Photo ID | Govt Employee ID | Electricity Bill |
| Gas Bill | Telephone Bill (Land line) | Property Tax Receipt |
Is loan against property taxable?
Even when you have an ongoing home loan, you are eligible to get tax benefits; however, there are no tax benefits for Loan Against Property under Section 80C of the Income Tax Act.
Is it good to take private bank loan?
In layman terms, this would mean that private sector banks offer lower interest rates on fresh loans taken, however are slower in passing on future rate cuts by the Reserve Bank of India (RBI). On the other hand, public sector banks offer better transmission of RBI rate cuts in case of existing/old loans.
Why is private bank better than government?
The private banks have a better net interest margin (3.4 per cent vs 2.4 per cent for public banks); lower costs (a wage bill that is 8.7 per cent of income, compared to 13.8 per cent for public banks); and therefore, continuing profitability even as public banks have lost money for the last five years.
What is a private finance loan and how does it work?
A private finance loan is a hassle-free and secure way to obtain funds for any emergency requirements. For example, you may need immediate cash for medical expenses, weddings, travel, business expansion, business operations, home renovations, or study abroad – in such cases, these types of quick loans can be helpful.
Why choose Bajaj Finserv online loan against property?
Experience a truly remote loan against property application from anywhere in India by applying Bajaj Finserv online loan against property and getting an easy approval. Bajaj Finserv allows you to foreclose the loan or make part-prepayments at no extra costs or prepayment penalty – making way for maximum savings.
Is there a minimum processing fee involved in private finance loans?
There is a minimum processing fee involved and a pre-decided rate of interest for such loans. Learn more about why Sulekha is the best place for finding private finance loans, why should you choose verified services only, what are the basic requirements for loans, etc. Why choose Sulekha? Sulekha is a reliable business listing website.
When to take help from a Private Finance Loan Company?
If you are in a hurry, then take help from a private finance loan company that can help you in your hour of need. However, when you take such loans, make sure you take the loan from a reliable source.