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 Loan Against Property

 Defination of Loan Against Property:-

When someone is looking for a loan by the way of mortgaging his property which is freehold (no matter if it is residential or industrial or commercial) is called loan against property.

Why do we need Loan against Property-?

In today's fast age of tough competition everyone wants to be successful. Everybody wants to become more and more rich and successful in his life. So what is the most important thing to be successful? The most primary important thing to get success in your life is to be positive,think positive and act positive.

Then we need to dream and not only dream but to dream big. And when you have dared to dream, the next challenge comes how to realise it.

We at Mudra Finance help you in fulfilling that dream by the way of offering loan against property. We are providing the lowest rate on loan against property in market through different banks and NBFCs..

We are offering loan against property from Dewan Housing Finance, Cholamandalam, HDFC and Citi Bank and many other banks.


 OD Limit Against Stock & Property:-
We have designed the OD Limit Against Stock to serve the customized plans for our customers

OD Limit Against Property is a unique product that offers you a combination of overdraft facility against commercial property or residential property. This facility is designed to be able to cater to the need of the business community to meet their short term working Capital requirements.

Loan Against Property through Mudra Finance enables you to unlock the power of your property and meet all your financial requirements. You can mortgage your property to get a loan sucg as Industrial, residential and commercial property.

Our Associates-

We are offering loan against property from Dewan Housing Finance, Cholamandalam, HDFC and Citi Bank and many other banks.


How much loan one can get against his/her property-

Generally the loan amount is given up to a maximum of 70% of the market value of the property. In case of Industrial property, loan can be anywhere between 45-60% of the market value of the property. In commercial, it may be 55 % and in residential property case, loan amount can go up to 75 to 80 % of market value depending on the eligibility norms of the lending institutions.

The Loan amount is largely determined and assessed by the lender by doing a credit check of the profile of the borrower & considering his/her repayment capacity. Normally creditor sanctions loan as per the net profit of the borrower and may consider his/her gross income. Again we at Mudra Finance help our customers to get the maximum Loan amount against their property. Nowadays there are various products of different banks where the borrowers can get a higher loan amount as compared to their income. On gross income and gross turnover we manage to get the best deal for our esteemed clients. So to get the best loan against property, call us now!

Higher Loan Amount
Longer Tenor of up to 20 years
Higher loan eligibility
Simple documentation
Faster approvals
Lower interest rates

Fees & Charges
Processing fees
Generally processing fee of 0.50% to 1% will be applicable.

Pre-payment charges
There will be no pre-payment charges after 6 months.

1. Term Loan:
Term loan is best suitable for the person who wants to pay a fixed amount per month towards their loan obligation. Here the borrower needs to pay a fixed EMI i.e. equated monthly installment towards the repayment of the loan. EMI amount depends on the tenure of the loan, i.e. longer is the tenure the lesser the monthly installment and lesser the tenure higher EMI borrower needs to pay.
Term loans are best suited for:
A. When a person is looking for loan for long period.
B. When someone wants to consolidate his loans.i.e. Closing all the loans and paying one EMI of LAP

2. Lease Rental Discounting:
In Lease Rental Discounting the loan is provided to the borrower on the basis of the fixed monthly rental received by him against the property which is offered for mortgage.

3. Loan for Commercial Purchase (LCP):
These are loans in which the borrower takes a loan for the purchase of a commercial property. These loans are given against the mortgage of the property the borrower is going to purchase.

4. Dropline Overdraft Facility: This is a new generation banking product in which both the features of Term Loans & Overdraft Facility, are available. Dropline Overdraft Facility can be for a period of 10 years where the drawing power of the borrower is reduced per month by a fixed amount.

5. Loan transfer or balance transfer -
You can also transfer your existing loan against property from another bank to new bank at much lower intrest rates.

 
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