Do you need to fund your existing business or need to consolidate a debt? Well now you can make your property work for you and fulfil your financial needs with the help of IDBI Bank loan against property. A secured loan, Loan against property allows you to submit your property as a collateral to avail the benefits of the loan. You also do not need to vacate your property to avail the loan and can keep using it while paying it off. When you mortgage your property for the loan, a fixed percentage amounting to about 60-70% of the current market value of the property is offered to a borrower as a loan. Loan against property is preferred over personal loans as the interest rate is much lower and you get faster loan disbursal's. This is also why all banks and independent financial institutions offer loan against property at attractive interest rates and also offers a flexible repayment schedule so that the borrower can conveniently repay with ease.
Overview Of IDBI Bank Loan against Property
A government owned bank, IDBI bank is the 10th largest development bank in the world. Over the years, IDBI Bank has offered loads of technological advancements to offer its customers a hi-tech personalized banking experience by using state of the art technology. With a vision to be the preferred bank, IDBI aims to delight its customers and expand its retail footprint. The Bank recently launched ‘IDBI Express’ feature, which is a convenient way to access banking without having to visit a branch.
Why Pick IDBI Bank Loan against Property?
IDBI Bank is a smart choice for many while looking for a loan against property:
1. Low Interest Rates –Get interest rates as low as 10.95% per annum with IDBI bank.
2. Extended Loan Tenure – Get greater tenure flexibility with the option to avail the loan upto 15 years.
3. Faster Loan Processing – IDBI bank ensures faster loan processing than other banks so that you can get access to funds quicker and meet your financial needs without much delay.
4. Quicker Loan Disbursal – Get the money disbursed into your bank account faster with quick loan disbursal's from IDBI Bank.
5. Higher Loan Amount – Get loan approved upto Rs. 10 crores with IDBI bank.
6. Balance Transfer – Get the benefit of a balance transfer facility from IDBI bank and get your existing loan transferred in no time.
7. Doorstep Service – Apply for loan against property from the comfort of your home or office with convenient doorstep service.
8. Collaterals are accepted for both residential as well as commercial properties.
Features ofIDBI Bank Loan against Property
✔ Loan Tenure – Get maximum loan tenure of 15 years.
✔ Available for salaried, self employed professionals and self employed non-professionals.
✔ Attractive Interest Rates – Get the benefit of competitive interest rates that start from just 10.95% per annum.
✔ Hassle-free Documentation – Get your loan approved from IDBI bank in the most hassle-free manner with a transparent loan structure.
✔ You can initiate a balance transfer of your existing loan into IDBI bank and also get an additional loan amount.
Benefits of Applying IDBI Bank Loan against Property on Letzbank.com
Letzbank is a financial website that offers a wide range of loans to choose from. Meet your financial needs at Letzbank and enjoy the following benefits:
✔ Easy loan comparison – Letzbank collates loan offerings from all the major banks and presents them at one page to you. This is a much hassle free method to make comparisons between loans and make a selection on which loan suits your needs.
✔ Free Services– There is no charge to apply for a loan via Letzbank website. In fact, we have made the loan application procedure easier and quicker by collaborating directly with the banks.
✔ Instant Quotes – Letzbank.com gets you instant access to car loan quotes from a bank of your choice within seconds.
✔ Online Form Application –Submit the car loan application from the comfort of your home at Letzbank.com website and let us handle the application process for you.
IDBI Bank Loan against Property Eligibility and Documents Required
All salaried as well as self employed individuals and professionals are eligible to avail this loan.
1. Age should be above 22 years at the time of taking a loan and maximum age limit should be before retirement age.
2. Must earn more than the minimum income required.
3. Other criteria as deemed by IDBI bank.
The documents required are as follows:
✔ Duly filled up application form.
✔ Only Indian residents can avail this loan.
✔ Identity Proof.
✔ Income Proof.
✔ Address Proof.
✔ Other documents as per bank guidelines.
IDBI Bank Loan against Property Interest Rates
✔ Interest rates for Axis bank loan against property start from 10.95% per annum.
IDBI Bank Loan against Property EMI Calculator
✔ Calculate your loan EMI by using Letzbank’s EMI calculator: https://www.letzbank.com/emi-calculator. All you need to do is enter the amount of the total loan, duration of the loan as well as the rate of interest and Letzbank EMI calculator will determine the monthly EMI in just a matter of seconds.