What is a loan against property?
Loan against property is a loan extended on a pre-owned property (Residential, commercial and alternate property) for a legitimate end use that is disclosed upfront. It is a loan against secured/free-of-charge market value of a property.
What is the minimum and the maximum loan amount I can avail?
You can avail loans ranging from Rs.5 lakhs to Rs.5 crores depending on your collateral property value, income eligibility and repayment capacity.
What are the loan tenure options available?
The loan can be repaid over a period of 12 to 180 months.
Are there any additional charges?
Lucrative Processing Fee options are available for key corporates. The fees are collected in the following manner:
Login Processing Fee: A non-refundable Processing Fee of Rs.3000 + ST for loan amount up to Rs.3.00 Cr and Rs. 5000 + ST for loan amount greater than Rs. 3.00 Cr is payable upfront with the application form. Further, processing fees as per grid will be payable post sanction and prior to disbursement of the loan
Processing Fee: 1% - 1.25% of the Loan amount is collected from the customer depending on property type
Legal & Technical charges: Rs. 5,000 inclusive of ST for loan amount up to 1 CR and Rs. 10,000 inclusive of ST for loan amount Greater than 1 CR, payable post sanction and prior to disbursement of the loan
How do I repay the loan?
You may repay through ECS (Electronic Clearance System) by instructing your banker to deduct the EMI (Equated Monthly Instalment) from the nominated bank account or you may repay the loan through post-dated cheques favouring Tata Capital Financial Services Limited ("TCFSL").
How will Tata Capital decide my loan eligibility?
We assess the applicants' repayment capacity and the proposed collateral property value while deciding on the loan eligibility. Repayment capacity is based on factors such as applicant and co-applicant's income, age, number of dependents, financials, banking habits, loan repayment history and business/employment stability.
Can I prepay my loan?
Yes, you can prepay your outstanding loan amount in parts or in full. Prepayment charges as applicable would be levied on the outstanding loan amount.
What types of properties can be considered as collaterals?
Self-occupied residential property, commercial property (offices, shops etc.) and alternate property (Residential Plots, Schools, hospitals, Industrial Property, hotels) can be considered as collaterals
Can I take a loan against property, if I jointly own the property with my relatives?
Yes, you can. However, all the co-owners of the property will also have to become co-applicants of the loan.
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.
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