The Property to be Mortgaged is
My Loan reqirenment is
Rs.
My Outstanding Loan amount is
Rs.
Currently Employed as
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Loan Against Property Festival Offer

Guaranteed Flipkart / Amazon / Shoppers Stop vouchers on successful loan disbursal’s !!

 Loan Against Property Overview

Loan Against Property Interest Rates

Banks & NBFC’s offer Loan Against Property interest rates between 10%* to 13.50%.
The exact interest rate is based on the banks assessment of your property value and income. Loan available for Commercial and Residential properties at Low Rate of Interest.

Compare Loan Against Property Interest Rates of Different Banks*

Name of the Provider

Interest Rate

Processing Fee

HDFC 10.35%-12.35% Up to 1.25% of the loan amount or Rs. 3,000 whichever is higher, plus applicable taxes.
SBI 10.65% – 11.65% 2.00% or Rs.50,000 Maximum
ICICI Bank N.A 0.50% – 1.00% of the loan amount or Rs.2000 whichever is higher
Axis Bank 11.60% – 12.25% 1% + Service tax as applicable
PNB HFL 11.25% – 13.00% N.A
Indiabulls 11.00% – 14.50% Up to 1.50% of the loan amount + S. Tax as Applicable
DCB 13.50% 1% + service Tax or Min 5000/-
IDBI Bank 10.95% – 12.45% Up to 1% of the loan amount plus service tax as applicable
Standard Charted Bank 10.75% – 11.00% Up to 1% of the sanctioned amount
Citibank 10.25% – 11.50% N.A
Deutsche Bank 11.75% to 13% 1% + service tax
Central Bank 14.25% 0.50 % of Loan Amount subject to maximum of Rs.40,000/-
and Rs.20,000/- respectively at the time of sanction.
HSBC Bank 10.50% – 10.90% 1% of the loan amount sanctioned or Rs. 10,000, whichever is higher
DHFL 13.75% 0.5% to 2% + Service Tax (case to case basis
LIC HFL 11.25% 1 % of Loan amount or Rs 25000 ( whichever is lower ) + Service Tax
Edelweiss N.A Up to 2% of Loan Amount
Kotak Upto 16% Upto 2% of Loan amount

Example

If you take a Loan Against Property of

Loan Amount Rs.10,00,000/-
Tenor 15 years (180 months)
Rate of Interest (Yearly) 10% (reducing rate of Interest)
Processing Fee 1% (on the loan amount) + Service tax (15% on the service tax)

Then the calculations are

EMI in LAP Rs. 10,746/-
Total Repayment Rs. 10,746 x 180 = Rs.19,34,289/-
Total Interest on the Loan for 180 months Rs. 9,34,289/-

Processing Fee Calculations

Processing Fee (PF) – 1% (on the Loan Amount) Rs.10,000/-
Service Tax on PF is 14% (on processing Fee) Rs.1,400/-
0.15% Krishi Kalyan Cess + 0.15% Swachha Bharat Cess – Total 0.30% Rs. 30
Total PF –  1.143% Rs. 11,430/-

Total amount / cost to be for 180 months.

Principal Rs. 10,00,000
Total Interest on the Loan for 180 months Rs. 9,34,289/-
Processing Fee Rs. 11,430/-
Total Repayment Rs. 19,45,719/-
Cost of the loan Rs. 9,45,719/-
Foreclosure / Repayment
Most banks do not have Foreclosure charges for individuals Mortgage Loan Takers availing floating ROI. Banks have Foreclosure charges for non individual Mortgage Loan Takers. Part -Repayment as per Banks / NBFC’s policy.

Loan Against Property Gift Vouchers Offers Details

Loan Amount Voucher Amount (INR)
20 Lac – 30 lacs Rs. 3,000
30.01 lacs to 50 lacs Rs. 5,000
50.01 lacs to 75 lacs Rs. 7,500
75.01 lacs to 1 Cr. Rs. 10,000
1 Cr. + Rs. 15,000

  • Choose from Flipkart / Amazon / Shoppers Stop.
  • Voucher validity : 12 months from the date of delivery.
  • Terms and Conditions applicable of the respective vouchers.
  • Voucher in multiples of Rs. 500/-

  • The following conditions must be fulfilled to avail this offer:
    • Application – Loan Against Property application to be made through LoansMumbai – Loan Against Property offer page between 1st Nov 2016 to 20th December 2016 will be eligible for the vouchers.
    • Disbursements: Loan Against Property application to be made through LoansMumbai – Loan Against Property offer page between 1st November 2016 to 20th December 2016 should be disbursed on or before 31st January 2017.
    • Offer Invalid : Even though the application is done through this offer page between 1st November 2016 to 20th December 2016 and the loan is disbursed on or after 1st February 2017 this offer would stand invalid.
  • This offer is provided exclusively by LoansMumbai.com and not by the banks or NBFC’s from where the loan is being taken. Banks and NBFC should not be held liable for this offer.
  • Gift voucher will be provided between 15th February and 18th February 2017, Subject to the 1st EMI being paid on the due date and no cancellation of the loan till 15th February 2017.
  • Processing Fee applicable as decided by the respective Banks and NBFC.
  • Loan Amount, Tenor and Disbursement as per Banks / NBFC’s discretion.
  • LoansMumbai will not be responsible for non-delivery of the gift vouchers in the stipulated time due to any circumstance which are not in LoansMumbai’s control.
  • LoansMumbai.com would not be held responsible for the delay in disbursement from the banks or NBFC or due to the delay in documentation provided by the customer.
  • LoansMumbai can hold back or cancel the voucher in case the applicant is found to have violated any loan against property related T&C.
  • LoansMumbai reserves the right to modify/withdraw the voucher offer at its own discretion without prior communication.
  • LoansMumbai does not have responsibility to ensure the goods/services purchased on the voucher. Any issue with goods/services purchased on the voucher need to be taken up with the respective company.
  • The offer cannot be combined with any other offer that may exist on LoansMumbai Loan Against Property or LoansMumbai other loan products.

List of documents for Salaried

  • Passport Size photographs.
  • Proof of Identity:- PAN Card
  • Proof of Identity:- Aadhar Card / Passport / Driving License / Voters ID (Any one mandatory)
  • Proof of Residence Ownership:- Electricity Bill (not more than 45 days old).
  • Latest 3 months Bank Statement (where salary/income is credited).
  • Salary slips for last 3 months.
  • Property Papers

List of documents for Self-Employed

  • Passport Size photographs.
  • Proof of Identity:- PAN Card
  • Proof of Identity:- Aadhar Card / Passport / Driving License / Voters ID (Any one mandatory)
  • Proof of Residence Ownership:- Electricity Bill (not more than 45 days old).
  • Office address proof.
  • Income proof (audited financials for the last three years).
  • Latest 6 months Bank statement of current/saving/OD/CC account.
  • Property Papers

Photocopy of all property papers which includes
a. Current agreement with Registration Receipt,
b. Previous chain agreement, with Registration Receipt,
c. Index 2 of all agreements
d. Dast Ghoshwara 1 & 2 of all agreements
e. Occupation Certificate,
f. Share Certificate (front & back)
"LoansMumbai provides you with excellent customer care service"
LoansMumbai has provided me with excellent services,
when it came to solving my every single query.
Due to their 24*7 support the Sanction and Disbursement
process was organised & effortless. Thank You to
Team LoansMumbai.com
Harveer Singh

How our clients say about LoansMumbai

"LoansMumbai provides you with excellent customer care service"
LoansMumbai has provided me with excellent services,
when it came to solving my every single query.
Due to their 24*7 support the Sanction and Disbursement
process was organised & effortless. Thank You to
Team LoansMumbai.com
Harveer Singh

How our clients say about LoansMumbai

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