Loan against property in Ahmedabad

Navratri, Dandiya, Ras garbha which city can you think of when you hear these form of dance in our country. That’s right it none other than the city of Ahmedabad, which is full of life and colours. The speciality of the city is that unlike other cities most individuals are mostly involved in their owned businesses or are salaried. These individuals owe properties of their own since long time .Residential, commercial or industrial any kind of property can be mortgaged to get a loan against it when you are in need of finance to meet some of your emergencies.

Loan against property in Ahmedabad is offered by all the lending lenders across the city at a very loan and attractive interest rates. Basic objective of such finance is to help the individual for a specific need like medical emergency, educational need, expansion of business, purchasing of new property, etc.

Check Your Eligibility

Features of loan against property in Ahmedabad

• These are secured loans.

• Collateral is required which is usually the property that is being funded.

• Up to 85% finance on value of property

• Fast disbursement

• Tenure options are favourable from 10 to 15 years.

• Flexible repayment options

• Quantum of finance is from 1 lac to 10 cr.

• Interest rates are either fixed or floating

• Interest rates ranges from 11 % to 14.50%

• Interest rates depend on the applicant’s profile, past credit history, property which is used as a security.

• Easy repayments options such as PDCs and ECS.

• Pre – payment is allowed

• Foreclosure charges are NIL

• Service charges are free when you apply through Letzbank.

• Co applicants are clubbed.

Eligibility Factors

How eligible you are for loan against property in Ahmedabad:

• You should be resident of India

• You should be at least 21 years of age when you apply for the loan. Repayments have to be completed before the age of 60 – 65 years.

• Security or collateral provided should be a residential, commercial or industrial property.

• Applicant should have a clean past credit history.

• Minimum income of 3 lacs and above is required. This totally depends on the nature of employment i.e. Salaried or self employed.

Documents required for Loan against property in Ahmedabad

Salaried Individual

• Address Proof-, Telephone bill, Electric Bill, Voter ID card (any one to be submitted).

• Identity Proof –Driving License / Employer's Card /Voter ID Card

• Salary Account Bank Statement- Last 6 Months-.

• Salary Slips last 6 months

• Form 16

• Copies of all Property Documents of the concerned property that you chose to pledge for the loan.

Self employed professional / individual

• Balance Sheet , Profit and loss account statements for last 3 years ,IT returns

• Address Proof- Electric Bill, Telephone bill, Voter ID card (any one to be submitted).

• Identity Proof – Voter ID Card / Driving License / Employer's Card

• Bank Statement- Last 6 Months.

• Copies of all Property Documents of the concerned property that you chose to pledge for the loan.