Avyud Finance
☰

Purpose for Loan Against Property

Home Renovation
Abroad Travel
Higher Education
Wedding Expenditure
Medical Emergency
Call Now Enquiry Now
INTERESTED?
WE’LL CALL YOU RIGHT BACK
Call Now
Enquiry Now

Loan Against Property in Purnea, Bihar

Loan Against Property in Purnea, Bihar are often obtained by entrepreneurs, self-employed professionals, and business owners. The business loan amount can be used to employ more workforce, buy equipment and machinery or expand an existing business. We understand the importance of continuity in your business operations and in order to meet your demands, we offer quick business loan approval with minimum documents from various banks in Purnea, Bihar.A business loan is an unsecured and collateral-free loan that is taken for meeting business requirements. The lowest business loan interest rates start at 14.00% from various banks. This business loan can be taken for a maximum tenure of 5 years.

Loan Against Property Schemes

Bank Name

Interest Rate Range

Loan Amount

EMI Per 1 Lac

Eligibility Criteria for Loan Against Property

  • Salaried Individuals
  • Self Employed

Documents for Loan Against Property

  • Ration Card
  • Telephone Bill

Fees & Charges for Loan Against Property

  • Charges for late payment of EMI: 2 % per month
  • Bounce Cheque Charges: Rs 550/-+GST

Eligibility Criteria for Loan Against Property

    Age:
  • Minimum 25 Years
  • Maximum: 65 Years or retirement age whichever is earlier

Documents for Loan Against Property

  • Aadhar Card
  • Pan Card
  • voter id etc.

Fees & Charges for Loan Against Property

  • Processing fee: ICICI Bank charges up to 1% of the loan amount, plus applicable taxes
  • CIBIL Report Charges: For LAP, the bank levies a fee of Rs 50 in case of CIBIL reports, plus applicable taxesT

Eligibility Criteria for Loan Against Property

  • Individuals who are eligible for Loan Against Property:
  • Any person who is in permanent service in Government or any reputed company. The applicant should be more than 24 years of age at the time of commencement of the loan and till the age of superannuation.

Documents for Loan Against Property

  • Employer Identity Card
  • Loan Application
  • 3 Passport size photographs

Fees & Charges for Loan Against Property

  • Loan Processing Charges:1% or Rs 10,000 (whichever is higher)
  • Part payment No Part payment charges

Eligibility Criteria for Loan Against Property

  • You must be either a salaried employee or a self-employed professional/non-professional.
  • Your age should not exceed 60 years if you are a salaried employee and 65 years if you are a self-employed professional/non-professional at the time of loan maturity.

Documents for Loan Against Property

  • Application form
  • Passport size photograph
  • Identity proof- PAN card, Aadhar card, Passport, Voter ID card, Driving License

Fees & Charges for Loan Against Property

  • Processing Fees: 0.75% of the loan amount, subject to a maximum of Rs. 1lakh
  • Reverse Mortgage Loan: Half month’s Loan installment Maximum Rs. 15000/-

Eligibility Criteria for Loan Against Property

  • An Employee or
  • A Professional, self-employed or an income tax assesses or NRIs (Who has residential property or commercial properties in his own name or in the name of spouse / children/parent/sibling)

Documents for Loan Against Property

  • Employer Identity Card
  • Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
  • Proof of Identity (Any one): PAN/ Passport/ Driver’s License/ Voter ID card

Fees & Charges for Loan Against Property

  • 1% of loan amount plus Service Tax, maximum Rs. 50,000/ plus Service Tax.
  • Valuer's fee for valuation report.

Eligibility Criteria for Loan Against Property

  • Regular and confirmed Employees/individuals with high net worth.
  • Professionals, self-employed and people engaged in trade

Documents for Loan Against Property

  • Application form with photograph
  • Any one of the following as proof of residence
  • Aadhar card

Fees & Charges for Loan Against Property

  • Processing Fees: 5000/ to 50000/-
  • Pre Payment Charges: Nil
  • Minimum Income: 12000 Per Month
  • Interest Rates: 8.85% – 9.35%

Eligibility Criteria for Loan Against Property

Salaried/professionals/self-employed/business persons/agriculturists employed/engaged in business/profession for a minimum period of 3 years. Break in service can be considered for a maximum period of 3 months.

Documents for Loan Against Property

  • A copy of the duly filled application form
  • Identity proof – PAN card/ Aadhaar card /Driving License/Voter ID/Passport

Fees & Charges for Loan Against Property

  • TL: 1%LR + SP + 3.50%
  • Minimum: Rs. 8,500 (upfront) per property
  • Maximum: Rs. 1,50,000

Eligibility Criteria for Loan Against Property

  • Individual customers having satisfactory dealings with our bank
  • New customers well introduced and credit worthy with satisfactory bankers

Documents

  • Stipulated Loan Application with passport size photographs - 2 copies each
  • Copy of lease deed

Fees & Charges for Loan Against Property

  • 0.50% of loan amount with a minimum of Rs.5000/-.
  • Rs.100/- Per Lac or part thereof with minimum of Rs.1000/- and Maximum Rs. 25000/-

Eligibility Criteria for Loan Against Property

Indian citizens (both resident and non-resident) having a regular source of income and owning non-agricultural (residential / commercial/industrial) property.

Documents

  • Application form and Credit Information
  • KYC documents of applicant & co-applicant/guarantor

Fees & Charges for Loan Against Property

  • Processing Fees: Upto 0.50%
  • Interest Rate: 9.80% - 9.90%
  • Loan Tenure: 12 Years

Eligibility Criteria for Loan Against Property

Any individual (salaried or Professional/Self-employed or Pensioner or others) in the age bracket of 21-65 years

Documents

  • Loan application form duly filled and signed by the applicant and co-applicant, if any
  • Two passport size photographs of the applicant and co-applicant

Fees & Charges for Loan Against Property

  • Processing fee: 0.50% of the loan amount as up-front fee with a maximum of Rs. 2.00 lacs.
  • Pre-payment Charges: No prepayment charges

Eligibility Criteria for Loan Against Property

  • As a Business loan for expanding your business
  • Marriage of your Son / daughter or marriage of a sibling
  • Loan for higher studies

Documents

  • Application form with photograph
  • Identity and Residence Proof
  • Latest Salary-slip for last 3 months
  • Form 16/ITR

Fees & Charges for 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

Eligibility Criteria for Loan Against Property

Their age should be at least 21 years or above at the time of loan application but under 65 years at the time of loan retirement.

Documents

  • Application Form
  • Pan card
  • Driving License/ Passport/ Voter's ID /Aadhaar card (Voluntary)

Fees & Charges for Loan Against Property

  • Processing Fee: 1% plus GST and Statutory dues. (Non refundable)
  • Documentation Charges: INR 10000 plus GST and Statutory dues
  • Repayment mode/ Account swap charges: Rs. 500 (plus taxes and any other applicable statutory dues)

Eligibility Criteria for Loan Against Property

Age :
  • Minimum – 21 years
  • Maximum – 75 years

Documents

  • Loan application form with fresh photograph
  • Processing charges cheque as applicable
  • Customer Relationship Form with fresh photograph

Fees & Charges for Loan Against Property

  • Minimum interest rate – 10%
  • Maximum interest rate – 13.5%
  • Final interest rate will be decided as per the Individual Credit Score

Eligibility Criteria for Loan Against Property

Who can apply?
  • Individuals
  • Salaried
  • Professionals

Documents

  • Photo Identity Proof, Address Proof: As per RBI defined KYC guidelines
  • Income Proof: Latest 2 years’ ITR/Form 16, Last 6 months

Fees & Charges for Loan Against Property

  • Processing Fees: Upto 3% of loan amount
  • Repayment instrument swap charges: ₹500
  • List of document charges: ₹1000

EMI Calculator

₹ 

500000

36

 months

10

 %

Monthly EMI

₹ 

₹ 32,124.56

Total Interest

₹ 

10,622.78

Principal Amount

₹ 

500000

Payable Amount

₹ 

160,622.78

Created with Highcharts 4.1.3 EMI Calculator Loan : 93.4 % Interest : 6.6 %
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

Loan Against Property Important Information

    Loan Against Property Eligibility

    The eligibility for LAP is calculated on the basis of either the share of property value that you simply own and therefore the amount of income you’ve got to enable you to return the EMI on the Loan. So you’ll get a Loan against property upto annex you look after property value and therefore the net amount that you simply earn after other EMI has been deducted from your net .

    Loan Against Property Eligibility in Purnea, Bihar

    • Eligible Age : 21 to 70 years
    • Eligible Salary : Min Rs. 25,000
    • Eligible Profession : Salaried or Self-employed
    • Loan Amount : Upto 75% of Property
    • Property Eligibility : Residential, commercial or industrial properties

    Documents Required for Loan Against Property

    At times when one’s finances are strained and one needs a touch of help to tide one over, leveraging one’s assets could act as a positive option instead of fretting over things . In such a circumstance, a loan against property would be available handy. Since one offers a collateral for the loan, one can get a better loan amount as compared thereto of an unsecured loan. It’s also a far better option since the tenure for a loan against property is longer than that for a private loan.

    Salaried:

    • Duly filled application
    • Identity proof : (Pan Card / Passport / Ration card / Voter Id Card)
    • Passport size Photographs of all applicants
    • Address Proof
    • Latest form 16 and last 3 months salary slips
    • Last 6 months bank statement of salary account
    • Repayment track record , if any
    • Copy of property papers
    • Processing fee cheque

    Sole Proprietorship / Partnership / Pvt Ltd Company:

    • Duly filled application
    • Identity proof : (Pan Card / Passport / Ration card / Voter Id Card )
    • Passport size photographs of all applicants
    • Address Proof
    • Last 2 years income tax return of directors / partner
    • Last 12 months bank statement of main operating account of the firm
    • Audited financials
    • Certified copies of MOA /AOA / Partnership deed as applicable
    • Professional qualification certificate , if applicable
    • Repayment track record , if any
    • Copy of property papers
    • Processing fee cheque

    Fees & Charges for Loan Against Property

    Loan Against Property scheme may be a secured consumer loan which you’ll avail by pledging your property as a security or a collateral. These consumer loan schemes also are referred to as mortgage loans. Loan Against Property interest rates range between 8.45% p.a. to 16.75% p.a. you’ll avail loans of up to Rs.25 crore for a tenure of up to twenty years with LAP.

    • Interest Rate 8.45% p.a. onwards
    • Loan Amount Up to Rs.25 crore
    • Loan Tenure Up to 20 years
    • Processing Fee1% – 3% of the loan amount + GST

    Pre-Payment and Part Payment in Loan Against Property

    Loan Against Property is a simple thanks to arranging for finances to satisfy your personal and business needs by keeping your property as collateral. Since it's a secured loan, the loan amount is high with low-interest rates on loans against a property compared to unsecured loans.

    When you have a payment of cash, which isn't like the outstanding principal amount, you'll part-prepay to bring down the principal amount and save on subsequent EMIs and therefore the interest outgo. For instance, if you decide on a loan amount of Rs.3 lakh for a tenor of 60 months at a rate of interest of 15%, your EMIs would come to Rs.7,317 per month. However, if you part-prepay Rs.50,000, your EMIs would come right down to Rs.5,947, thereby enabling you to save lots of Rs.1,190 on your EMIs monthly. The tenor also comes right down to 47 months.

    Modes of Loan Payment or Repayment

    There are a number of repayment modes which are offered by lenders. Although these modes might differ from lender to lender, the most common modes of repayment can be summed up as follows:

    • Electronic Clearance System or ECS:The ECS or Electronic Clearance System is one of the most commonly used repayment methods. It is an electronic mode through which funds are transferred from one bank to another.
    • Post Dated Cheques or PDCs: Post Dated Cheques, as the name suggests, are cheques which are issued by you for a future date. The lender will use these cheques on the mentioned date to deposit or encash the amount mentioned on it.
    • National Automated Clearing House:The National Payment Corporation of India (NPCI) offers a program called NACH to all the banks and financial institutions. The NACH allows the processing of transactions in real time. This method can be used for your loan repayments.
    • Debit mandate or standing instruction:You can give an instruction to your bank to pay off a particular amount of money to another bank or bank account at a regular interval. This is known as standing instruction or debit mandate. Your bank will be paying off the stipulated amount towards the repayment of your loan on a regular basis through this system.

    Loan Against Property Balance Transfer

    While creating your happy abode, if you are feeling that you simply would wish to spend a touch quite what you had initially budgeted, we are there for you to offer you that extra help. We are happy to offer you a top-up loan on an existing Loan Against Property because we understand that a house is incomplete without a touch of a touch extra flavor. allow us to assist you to get the toppings to your cake, with our top-up loans. Transfer your loan against property from your existing lender to a different bank for a competitive rate of interest and better terms. Our easy eligibility criteria, minimal documentation, and quick processing ensure a hassle-free transfer.

Our Loan Against Property Experts can help you meet your financial requirement.

Experienced Loan Advisor

Multi Bank Option

Free Door step Service

End to End services

Transparency & Safety

Referral Program

FAQ for Loan Against Property

    Who can avail Loan Against Property?

    Any Resident Indian Individual (salaried/ self-employed) can apply. The co-applicants can be close relatives, partnership firms, or even a Private Limited Company.

    What can Loan Against Property be Used for?

    Any loan against a residential or commercial property can be used for both personal and business purposes. In fact, you can use it for anything other than speculative or non-prohibitive activities.

    Pre Closure vs Part Prepayment?

    Pre closure means that a customer wants to close the entire principal outstanding amount at one go. Whereas part payment means that a customer wants to repay only a certain portion of the outstanding amount. Please ask our advisor for more details on this when your loan is being processed.

    What are the Income Documents Required for Loan Against Property?

    Salaried Customers need to submit their last 2 month’s salary slip, 6 months bank statement, form 16 and ITR and documents related to running loans. Self Employed customers need to submit a complete set of ITR and Financials for the last two financial years, 6 months CA statement and documents related to running loans.

    What are the Processing Fees for Such a Loan Against Property?

    Processing fee for loan against any property varies from bank to bank and is generally around 1 percent.

    What is the Tenure of the Loan Against Property?

    Loans against property has a maximum tenure of 15 years, subject to the condition it does not exceed your retirement age. This condition however can be flexible in certain cases.

    What is Loan Against Property to Value?

    Loan to Value (LTV) is a term that is used to express the ratio of a loan to the value of the asset mortgaged. The loan is usually offered in the range of 60% to 70% of the market value of the property.

    How to Repay my Loan Against Property?

    You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement.

    Do I Require a Guarantor?

    Normally a guarantor is not required; however, this would also depend upon the loan facility and financial strength of the customer. However, every loan has either a co-borrower or guarantor.

    What is the Loan Against Property EMI cycle?

    The EMI due date or cycle is dependent on the borrower. It can be the first of the month or 5th of the month. The borrower can choose the day as per their convenience. Some banks do give a set day as their processing day is automated.

    What will Happen if I Miss any Loan Against Property EMI?

    It is best to pay your EMI on time. Most banks will tolerate any late payments for 1 or 2 times and if you don’t pay your EMI at all the bank has every authority to seize the car. Furthermore if you default on EMI your credit score will take a hit which will spoil your chances of getting any form of credit in the future.

General Information Loan Against Property

There are various factors to consider while taking a Loan Against Property in order to assure the borrower gets the best possible deal. Factors such as:

Loan Amount: Up To 85% Value of Property | Rate of Interest (APR)*: 07.00% to 10% | Repayment Tenure: 1 Years to 20 Years | Processing Fees: 0.75% to 2.50% + GST as applicable | Prepayment/ Foreclosure: Nil (After 12 months) or 1% - 4% (Before 12 months)

Illustration: For e.g. If a person is 18 years old, he can avail a loan of Rs. 20.49 lakh at an interest rate of 6.90% for a tenure of 20 years provided he has no other existing financial obligations such as a business loan.

* APR - Annual Percentage Rate