A. A person in the age group of 21 to 55 including Non Residents Indians (NRIs) can avail loan against property: a)if they are salaried individuals with minimum service of 3 years and b)individuals engaged in business & self employed like Doctors, CAs etc. Further, the bank will check your eligibility in terms of your Income, Income tax return, repayment of past loans, assets & liabilities etc. Further, the loan will be sanctioned for 80% of the market value of the property and 50% on commercial given it have an approved map and registered.
A. The tenure ranges from 12 months to 15 years
A. The loan against property is sanctioned for the following purposes:For construction of house/flat
A. From the day of submitting your complete documents to our executive to loan disbursement by bank, it will take around 7 to 15 working days.
A. Yes you can prepay your loan against property with charges as applicable by some banks and some are not.
A. The EMI will start from the next month of loan disbursal. For example, if your loan gets disbursed on 1st May, then your EMI will start from 1st June. Further, after six months of payment of EMI you can take top up on your loan against property.
A. Residential property, commercial property, land, plots, shops