Custom tailored offer to suit your requirements and credit health
Unlock your property’s maximum value and gain quick access to loan
Lowest Interest Rate, much lower than Personal Loan or Business Loan
Quick Loan Processing as your property i.e., the collateral already exists
Derive Tax Benefits and save money during the loan tenure
Cost effective way to fund your plans, expansion, and growth
0% penalty on partial prepayment of loan
Loan is given to the individual on the basis of mortgage loan or residential property. The loan is given in the percentage of market value of the property. Usually the percentage of the value to the property is about 60% to 90%. The percentage of amount being given to the customer is based on the place, area and value.
With Credit Help India you can get little amount of 5 Lakhs to 10crores. This loan can be either for business or for personal expenses.
Credit Help India helps you to get maximum amount of loan can be earned. You can get/ borrow up to 10Crores as loan amount.
According to your cash flow and budget EMI is being calculated. Can borrow loans for installments year of 20 years, and you can repay the loan early
With help of Credit Help India get loan against property to Small and Medium Enterprises.
Loans available for purchase of property being residential or for commercial properties
Loans available for residential plots
Can use rental income to get loan with help of Credithelpindia.com
The eligibility criteria for loan against property vary from one bank to other banks or one financial institution to other financial institutions.
The person or customer can get loan for property should be from government worker or any other reputed company person.
The age requirement is from 24 years or 25 years to 65 years.
The person who applied for the loan is being a doctor or engineer or architect or chartered accountant or any other profession.
The age limit for the profession is to be 65 years below.
The person who is eligible to pay income tax regularly
The applicant should have to be in the same business for 3 years to 5 years.
The property should in the applicants name and should be legal.
It should be free from any legal problems.
1) Loan Application Form should be completed.
2) Proof needed for identification,
a. Driving license
b. Ration card
d. PAN card
e. Voter’s ID card
f. Employee ID
g. Bank passbook
3) Age Proof ID cards,
a. PAN card
b. Aadhar card
c. Birth certificate
d. 10th or 12th class mark sheet
e. Bank passbook
g. Driving license
4) Residential proof
a. Bank passbook (or) Bank account statement
b. Voter’s ID
c. Aadhar card
d. Ration card
f. Utility bill (telephone, electricity, water, gas) – less than 2 months old
g. LIC policy/ receipt
h. Letter from a recognized public authority verifying the customer’s residence address
5) Income Statement (Salaried and self-employment individual)
a. Form 16
b. Certified letter from Employer
c. Pay slip (Last 2 months)
d. Increment or Promotion letter
e. IT returns (for 3 years)
Other than income proof, the individual have to enclose the investment proofs also.
For Self-employment individual
a. CA attested last 3yrs income tax returns.
b. CA attested balance sheet for 2yrs.
c. Company introduction in short.
d. Passport size photo.
e. Registration certificate of the company.
f. Certificate of deduction of provision of tax, photograph.
g. Investment proof
h. Certificate of practice
i. Tax payments in advance receipts.
6) Property Documents
The person who is ready to take loan against property can be by two types, they are :
1. Fixed Interest Rate
2. Adjustable Interest Rate
1) Fixed Interest Rate :
2) Adjustable Interest Rate :
EMI is being calculated through this formula for loan against property.
EMI = [P x R (1+R) N]/ [(1+R) N-1]
The EMI is being calculated through credithelpindia.com with our EMI tool. Things to be added in the tool is amount borrowed, interest rate and time period as in the table follows.
For Example :
Loan amount is about 8 lakhs.
Interest rate in percentage is 0.1 or 10% of rate of interest.
Tenure or period of loan availability in months is about 36 months.
The EMI have to pay by every month is to be 22,257 in Indian Rupees.
1) Secured Credit Card
2) Unsecured Credit Card
Secured credit card is a next type of credit card; it is being useful to the individual who is rejected or not applicable for the lender who gives loan amount to the individual. Secured credit card is not like unsecured credit card. It has security to be provided for the bank or the financial institution.
Security is given to get this secured credit card. The person who is not earning and new to hold a credit is not eligible to hold a unsecured credit card. Secured credit can be easily hold by new credit holders.
The unsecured credit card will be available without any security for the individuals. This is based on the credit card score with the help of CIBIL score ranges which is to be in the good ranges. The unsecured credit cards are given to the individual who has a good income value.
The credit card scores are noticed and the score ranges should not decrease for this card. If the credit card balance is settled on or before the due date then CIBIL score ranges will be in increase rate. The credit card usage should be below 30% to gain the CIBIL score and the credit card should be used effectively again and again. There is another type of credit card which is explained below.
Loan against property should be always by secured credit cards mostly.
|Banks||Loan Against Property Rate||Processing Fee|
|SBI||10.30%||1.00% - Max Rs. 50,000|
|ICICI||11.95%||0.50% - Min Rs. 5,000 - Max Rs. 10,000|
|Axis||11.25%||0.50% - Min Rs. 5,000 - Max Rs. 10,000|
|Indiabulls||10.50%||1.00% - Min Rs. 5,000|
|PNB Housing Finanace||10.35%||1.00%|
|Stnadard Chartered Bank||10.10%||1.00% - Min Rs. 10,000|
|DBS Bank||12.15%||0.50% - Max Rs. 10,000|
|Bank of India||10.65%||1.00% - Min Rs. 5,000 - Max Rs. 50,000|
|Indian Overseas Bank||10.90%||0.62% - Min Rs. 890 - Max Rs. 8,900|
|Karur Vysya Bank||11.70%||0.50%|
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