IDBI Bank Loan Against Property in Purnea, Bihar

Avyud Finance brings to you Loan Against Property facility from IDBI Bank to enable you to unlock the power of your property. You can mortgage your residential or commercial property to get a loan & meet all your financial requirements. At Avyud Finance, we have designed The LAP with an overdraft facility to cater to the needs of the business community for meeting their short term working Capital requirements. This Facility will provide the money that is required by the business community for Purchase/Stocking of raw materials, payment of salary, wages, etc and also for financing the gap between the supply of goods & payment of receipts thereafter.

EMI Calculator

Loan Amount

₹

500000

No. of Months

months

Rate of Interest

Monthly EMI

₹

₹ 32,124.56

Total Interest

₹

10,622.78

Principal Amount

₹

500000

Payable Amount

₹

160,622.78

Pay No.	Begining Balance	EMI	Principal	Interest	Ending Balance
1	150000.00	32124.56	28637.06	3487.50	121362.94
2	121362.94	32124.56	29302.87	2821.69	92060.07
3	92060.07	32124.56	29984.16	2140.40	62075.91
4	62075.91	32124.56	30681.30	1443.26	31394.61
5	31394.61	32124.56	31394.64	729.92	-0.03

IDBI Bank Loan Against Property Important Information

Loan Purpose

Business Expansion

Education/Marriage expenses

Purchase of house

Improvement/Extension of existing Property

Medical Treatment

Any other personal Need

Loan Amount

Loan Amount : Up to Rs.10 Cr. Loan above Rs.10 Cr can be provided depending upon the merit of the proposal.

Loan Tenure : Up to 15 Years.

Processing Fees : Please refer to the Schedule Of Charges of Retail Assets.

Eligibility Criteria for IDBI Bank Loan Against Property

IDBI Bank’s Loan against property can be availed for

As a Business loan for expanding your business

Marriage of your Son / daughter or marriage of a sibling

Loan for higher studies

Purchase of a new property or as a bridge loan

Any other emergency like Medical Treatments etc.

Documents Required for IDBI Bank Loan Against Property

The Following documents are required along with The Application Form to process your Loan Application.

Application form with photograph

Identity and Residence Proof

Latest Salary-slip for last 3 months

Form 16/ITR

Last 6 months bank statement

Property Related Documents

Fees & Charges for IDBI Bank Loan Against Property

The interest rate for self-employed women borrowers will be set 0.05% lower

Processing Fee: Up to Rs.5,000 plus applicable taxes

The rate of interest for IDBI Bank loan against property ranges from 11% to 12%

FAQ for IDBI Bank Loan Against Property

What purpose can you avail of Loan against Property?

You can avail of Loan against Property against Residential & Commercial Property for either your personal or business activities other than speculative or non prohibitive activities.

How will IDBI decide the loan amount I am eligible for?

IDBI Bank will decide the loan amount based on your repayment capacity. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history. However the eligibility of loan shall not exceed 85 per cent of the cost of property.

Who can be a co-applicant to the loan?

You can include your spouse as a co-applicant for the Loan. His / her income can be added to enhance the loan amount. However all co-owners of the property should necessarily be the co-applicant.

What are the fees you will be charged?

A Processing fee of up to 1.00 % of the loan amount applied.

How will the rate of interest be calculated?

Interest is calculated on daily reducing balance. Your monthly out-go (equated monthly installment - EMI) is much lower as compared to the interest on annual reducing balance.

Note: This content is taken from IDBI Bank website

Purpose for Loan Against Property

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