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LOAN AGAINST PROPERTY

Your friend in need is your property indeed. Unlock the power of your property by availing an easy loan against your residential or commercial property! Your friend in need is your property indeed. Unlock the power of your property by availing an easy loan against your residential or commercial property!

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With speedy approvals and flexible repayment options, choose our loan against property for business expansion and realise the true value of your property.
Loan Against Property to suit your requirement:
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Eligibility
 
Salaried, Self Employed Professionals & Self Employed Non Professionals.
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Purpose
 
Business Expansion, Balance Transfer & Top UP.
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Loan Size & Tenure
 
From 10 Lacs upto 300 Lacs for a tenure from 3 years upto 15 years.
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Loan Takeovers & Top up
 
Balance Transfer your existing loans with an additional loan amount. 
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    Flexible repayment
    options

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    Door Step Service

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    Speedy Approval

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    Easy Documentation

 

List of recovery agencies

INTEREST RATE

Charges Details of Charges
Legal Charges Rs.1500/- for loan amount less than or equal to 5 
lakhs Rs.2000/- for loans greater than 5 lakhs
Processing Fees Upto 2%
Admin Fee 0.15%
Login Fee (Non-refundable and part of processing fees) Less than 5 lakhs Rs.1500 inclusive of GST Greater 
than 5 lakhs Rs.3000 inclusive of GST
CERSAI Charges Rs 50/- for all loans up to Rs 5 Lakhs and Rs 100/- for all other loans
Part Pre-Payment Charges (Fixed ROI period) 3% on the Prepaid amount
Part Pre-Payment Charges excluding corporate borrowers (Floating ROI period) Nil
Foreclosure Charges (Fixed ROI Period) Own fund 3% Switch fund 5% (BT to other institution) (on the future principle amount)
Foreclosure Charges excluding corporate borrowers (Floating ROI Period) Nil
Cheque Bouncing Charges Rs.500/-
Over Due Charges 36% per annum for the delayed days from EMI Due date till the date of payment
Field Visit Charges Rs. 250 per visit for EMI collection
Documentation Charges Rs. 1150/-
PDC Swap Charges Nil
Charges for providing a photocopy of documents Rs. 500/-
Charges for providing a statement of accounts Nil
*Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)

 

Mean rate and Interest rate range for the quarter Jan 2023 – Mar 2023
Segment Mean interest rate Interest rate range
    Min Rate (in %) p.a. Max Rate (in %) p.a.
Loan against property 19.11% 10.50% 24.00%
• Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.

 

Annualised Percentage Return (APR) for the quarter Jan 2023 – Mar 2023
Segment Min Rate (in %) Max Rate (in %)
Loan against property 11.00% 26.00%

 

Loan against property    
Type of Loan Segment Effective Rate Of Interest (p.a.) linked to MCLR / External Benchmark Rate
Fixed Micro LAP, Business loan – Secured, General LAP & Agri 14.00% - 24.00%*
Fixed or Hybrid# Others 10.50% - 18.00%*

# Hybrid: Fixed for 3 years and 6 months and thereafter floating interest rate

* Market Linked Benchmark (MLB): External Benchmark Rate is arrived based on Repo Rate published by RBI. Rate is published at https://rbi.org.in/home.aspx

 

• Application forms complete in all respects will be processed within 14 days from the date of receipt of application form.

• Wherever additional information / documentation is required to process the application form, the same shall be intimated to the customer within 14 days from the date of receipt of the application form.

To make payments for the Loan via NEFT / RTGS, please contact your Home Branch – Branch Manager for further details

Loan Application Forms and Loan Agreements can be accessed in Form Centre