::: Loan Against Property in Chennai :::

Interest rates for loan against property is very low than business loans. Interest rates are classified as two Fixed Interest Rates & Floating interest rates.

Reverse Loan Against Property is new to the type of mortgages. Reverse mortgage loan are very much useful to people who were unable to make money for their living.

Switching your loan to other bank is easy for LAP. Clients Switch over their loan for interest & tenure.

Mortgage Interest Rates Varies from bank to bank. It Depends on the Property value, CIBIL Credibility, Repayment Schedule and past Credit History.

You get maximum Repayment Tenure of 20 Years. EMI amount is lower because of long tenure than unsecured loan. You have Pre Closure option for LAP.

Properties are Valued by the Bank's Valuer based on - Economic & Legal Factors.- Value Approach Factors.Valuer Estimate it in Three Methods. Cost, Income & Market Approach

CIBIL Defaulter's, NBFC's take liberal consideration for Cibil low Score. LAP For Defaulters is Possible

Owning a property, but don’t have a Income Proof. Nbfc’s like Vistaar & Shriram will fund for clients without Income Proof & ITR. Be sure, you must show the INCOME SOURCE

::: Mortgage Loan Interest Rates :::

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SBI Mortgage Loan

State Bank of India Loan Against Property

State Bank of India is a public sector bank & Financial Services. State Bank of India is Owned by Government of India. And it’s headquarter in Mumbai city, Maharashtra State. SBI Property mortgage loan in chennai is one of the largest loan lenders in india.

10.99% – 19.8%1%10 lacs – 7.5 Crores5 yrs to 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

Bajaj Mortgage Loan

Bajaj Finserv Loan Against Property

Bajaj Finserv, a part of biggest conglomerate of Bajaj Holdings and Investments. Bajaj Finserv is into financial service business tracking on Lending, Asset Management Services, Insurance and Wealth Management Services. Bajaj Finserv Mortgage Loan Services in Chennai is easy than any other banks.

12.00% – 12.75% Upto  1% 30 lacs – 21 Crores3 yrs to 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

Axis Mortgage Loan

Axis Bank Loan Against Property

Axis Bank is a Private Sector Banks and third largest Mortgage Loan Banks in Chennai. Bank Accepts Deposits and lend loan to customers in India. Axis bank is popular lender of Mortgage loan providers in chennai.

     9.4 – 11% 0.5 to   1%/ Rs 5000 5 lacs – 5 Crores20 years
Fixed InterestProcess FeeLoan AmountLoan Tenure

ICICI Mortgage Loan

ICICI Bank Loan Against Property

Industrial Credit Investment Corporation of India, indian MNC Banking & Financial Service Banker. ICICI got A Unique Mortgage Process Companies in chennai and a Established Banks in india. ICICI Banks Mortgage Loan Interest Rates in Chennai have lucrative offers.

10.25%0.5%25 lacs – 5 CroresUpto 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

Capital First Mortgage Loan

Capital First Loan Against Property

Capital First is the Startup founded in 2012, is a financial instituation who provide Debt Finance to SME, MSME and SEZ in India. Capital First Financial Institution is a better option for mortgage loan private financier in chennai. 

12 %to 13.5% 1% & Upto Rs 5000  5 lacs – 10 CroresUpto 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

DHFL Mortgage Loan

DHFL Loan Against Property

DHFL Ltd, Dewan Housing Finance Corp. Ltd is a  Financial Institutions & third biggest land Mortgage Loan in Tamilnadu, offers Loan Against Property, Home Loan for Indian Citizens and NRI Citizens. On the whole, give top priority to Dhfl when it comes to mortgage loan against property in chennai

12%Upto  2% Upto 10  CroresUpto 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

HDFC Mortgage Loan

HDFC Loan Against Property 

HDFC Bank Limited offers Financial Services to Indiana and one of the largest Private Mortgage Loan Against Property in Chennai,  & NRI Customers. HDFC is the all time best bank for mortgage loan in chennai. It has employee count of 84,000 + and it has a presence in Bahrain, Hong Kong & Dubai. 

 9.60% – 11.60%Upto  1%Upto 5 CroresUpto 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

Equitas Mortgage Loan

Equitas Loan Against Property 

Equitas Small Finance Bank Founded in 2007, and headquarter in Chennai. From 04/02/2017, Equitas transferred itself to become a Scheduled Bank to give lucrative mortgage process in chennai. Equitas Primary target is Small Finance company for Mortgage Loan For Cibil Defaulters in Chennai for Certain Limit. 

15.90 – 16.5%1%Upto 3 CroresUpto 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

PNB Mortgage Loan

PNB Housing Loan Against Property

Punjab National Bank Founded in 1894, One of the Oldest and Multinational bank in India, offers Financial Services to Indian & NRI Customers. Punjab National Bank is a State owned Bank head office at New Delhi. PNB Mortgage Loan Against Land in Chennai, have minimum terms & Conditions. 

     9.75% – 10.00%Upto   2%15 CroresUpto 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

TATA Mortgage Loan

TATA Capital Loan Against Property 

TCFSL is a Subsidiary of Tata Capital Limited. Tata Capital is Registered Under Reserve Bank of India a Non Banking Financial Company who don’t accept Deposit. Tata Capital is kid of one of the biggest conglomerate who offers Land Mortgage Loan in chennai

11.75 %- 15.00%During Login5 lacs – 5 CroresUpto 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

Fullerton Mortgage Loan

Fullerton India Loan Against Property

Fullerton India Credit Company Founded in 1994. Under the Reserve Bank of India, Fullerton India is Registered as Non Banking Financial Company head office in Mumbai. Fullerton India lend mortgage loan for vacant land in chennai.

13%1%10 lacs – 5 Crores3 yrs to 15 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

Shriram Mortgage Loan

Shriram Loan Against Property

Shriram Housing Finance Ltd. is a subsidiary of Shriram City Union Finance. It is registered with National Housing Bank and commenced lending operations. Shriram Housing Finance have innovative products and lend Mortgage loan without income proof in chennai.

15% Onwards1.5% –1 yrs to 10 yrs
Fixed InterestProcess FeeLoan AmountLoan Tenure

::: A Step by Step Lucrative Process For Loan Against Property :::

Step 1 – Application: 

Taking the first step is always important, where most of the clients slip in this phase. Always spend some valuable time while filling the application form.

Basic Application Details: Name, Address, Educational Details, Residential Details, Employment or Self Employed Details and Your Income Details as well.

Basic Property Details: Property Location, Property Value, What kind of Property, EC Details, Patta Details.

Know Your Customer – (KYC)

  • Proof of identity – Ration card, Aadhar card, Driver’s license, gas slip, Pan Card etc
  • Proof of Age – Driver’s license, identity card etc.
  • Income proof – Salary slips or bank statements
  • Address proof
  • Employment Details/ professional qualifications
  • Proof of education – Higher secondary or CBSE certificates, University certificates or mark statements, transfer certificate
  • Details of the Pledging Property

Step 2 – Processing Fee:

Before the bank starts the process, they ask you for processing fee. The processing fee may vary from bank to bank. Some Banks Charge you 0.5% to 1.5%. In case the bank rejects the mortgage loan profile, few banks don’t hesitate to refund their processing fees.

Step 3 – Legal Opinion From Advocates : 

Legal Opinion from the Reputed Advocates is the first and foremost details needed for Loan Against Property in Chennai. The Reason Bankers ask for legal opinion is to check whether the pledging property have any litigation in it or not.

Step 4 – Valuation of the Property: Bankers take next step by valuing the property. Property valuation is a unique process, which we discussed in this page very clearly. Please click the Valuation Process in menu.

Step 5 – Verification & Personal Discussion:

 The most important section in mortgage loan process is verification & personal discussion. Bank professionals will do a complete verification of your personal or business details and property details. The Branch Manager call the borrower for personal discussion to check Face Value, Credibility & Feasibility Value. Once Everything is verified bank take the process to next step.

Step 6 – Sanction Letter / Mortgage Registration: 

Final Step in Mortgage Loan Process is Providing Sanction Letter to the borrower and calling him/her for Registration. The Provided Sanction Letter shows the details like sanctioned loan amount, EMI, Tenure, Interest Rate, Terms & Conditions. The Borrower should acknowledge the sanction letter by duly signing it.

Bankers fix the date for Mortgage Registration. After the Registration is over the bank dispose the loan amount within 24 to 48 hours. Some banks dispose it with a day.

::: Banker’s Value Property on – Economic, Legal, Value Approach :::

Utility of the Property

Utility can be defined as "Power and Satisfaction on the Property. Value of the Property depends upon the Individual Power & Satisfaction. The Main Assessment is "How the Property is Overwhelming the Normal Person". The Valuer See whether it's a Rented or Self Use property and also study about the possible ways of using the property.

Scarcity

Value of Demand & Supply of the Property. valuer go through, the property is location. Whether it is located in Industrial or Residential locality. And how Scarce the property is gonna be in future. For Loan Against Property in Chennai Valuation they check the area volume of the property like, No of Shops, Hospitals, Schools, Colleges, Bus Stops, Temples, and Bridges.

Deman & Transferability

Demand: Demand is not only the desire to possess the property, it also include the effort to acquire it and monetory power too.Transferability: It's a Legal Concept, where the property documents must be transferable in whole or in part.Note: Mortgage Loan Registration Charges in Chennai is calculated as per Tamilnadu Government Act.

::: Value Approach For Loan Against Property:::

Valuer Estimate the Property in Three Methods. Cost Approach, Income Approach and Market Approach.

>> Investment Properties: These are the Properties which fetch Income like rent or lease. The Adopted Properties for this methods are Residential Properties, Commercial Properties and Industrial Properties. this method is a normal approach to valuate the property. Considering the Utility and Income of this property the demand and supply of this properties are higher than any other properties.

>> Non-Investment Properties (Vacant Land): Vacant Land are considered as Non Investment Properties but it has a marketable value. It cannot yield income. This kind of properties are calculated by Market approach.

>> Non-Investment and Non-Market Properties: These Kind of properties do not fetch Income and not for sale in the market. There will not be any evidence of income yield. Properties like Religious Buildings, Public Buildings, Public Libraries etc. Most of the Public Sector Undertakings. In this case the Value of the Property is calculated by Cost Approach.

>> Educational Institution & Health Care Buildings: These Kind of Building continuously generate Intangible Assets to the Society. Goodwill is the Main factor. Banks can avail loan for these building, by taking it as primary & collateral security.

Note: Stamp duty for Mortgage Loan in Chennai is as per Tamilnadu Government Stamp Rates.

::: What is Non Performing Asset & How to Prevent Debt Recovery Tribunal :::

DRT – Debt Recovery Tribunal:

From Nationalized Banks to Private Institution duly registered with Debt Recovery Tribunal (Established on 1993) for the Property Recovery when the client become a defaulter.

First Stage Before Sending the Property to DRT is NPA.

Non Performing Asset:

When the borrower fail to pay the EMI for regular of three to six months, the mortgaged loan property become as Non Performing Asset. Client become as Defaulter. Banks try to push the client to pay EMI or give some time to sort out the current NPA Problem during Personal Discussion.

On most of the cases the banks play a ethical role during the Non Performing Asset Period. So the client should show some responsibility to sort out the issue.

Everything come to a light, if the client pays Outstanding EMI. This will change the NPA to Performing Asset.

Situation turns upside down if client didn’t respond the bank. Finally bankers have to send the property to DRT by keeping their emotions aside.

Final Stage is Auction:

Debt Recovery Tribunal, will auction the property in Public Domain. Whoever wins the bidding will buy the property.

::: How to Balance Your Credibility Factor – Cibil Defaulter’s :::

Tips For Loan Against Property For Cibil Defaulters in Chennai:

Cibil Score is major Threat for Loan Against Property, though we give property as collateral to banks they expect proper credit history and records. On the Scale, 650 is an average decent credit score. What if, the cibil score is lower than 650. Follow the Below Points to tackle the problems.

Adding Co-Applicant: If your Credibility is not up to the Bankers Standards, just add additional Co-Applicant who got good credibility value. Prove the credibility to the bankers. Co-Applicant can be your mother, father, brother, sister who have good credit score and track records.

650 Cat on the Wall Cases: Cat on the wall is not a better one. Either your profile get selected or may get rejected. To Prove credibility factor, get a Guarantor who got good credit score. This tactics will increase the credit worthiness of you. Always be sure not to assign Guarantor who is not credible.

Loan To value: Seekers always expect Full Loan to value (LTV) 60 -80% of loan on the property value. If you want to Get Loan Against Property, ask for lower amount to avail it immediately. Loan Against Property in chennai have a advance option like, top up. You can top up or apply for a Secondary loan (Same property) after 6 to 12 months down the line.

Choose Private Finance in Chennai: If you are not concerned about the Interest Rates and Repayment Schedule. Just Go For Private Finance in Chennai or Private Institutions.

Unlike National banks, the lucrativeness for profile login is low in nbfc’s and private institutions. Cibil Defaulters need not bother much to login your profile in these platforms.

  • These standards are liberal during profile login, for instant 3 to 5% of cheque bounces are considered depending upon their credibility. To get Instant Loan Against Property in Chennai, we help you to increase that credibility & We will guide you step by step.
  • As per RBI Guidelines, NBFCs and private institution should take a liberal consideration for cibil score (LAP)
  • The most important way to overcome your cibil problem is getting No Objection Certificate from the Banks, by this defaulter client can come out from this issue.
  • As soon as you get NOC from banks, you have to ask the lender to update the information in cibil as soon as possible. Always prefer for NOC and Not for Settlement.
  • Settlement clients have problems when they avail loan in future

::: How to Overcome Private Finance Fraud’s :::

  • How not to get influenced by the fraud mediators or connectors:
  • Never pay any upfront fees, you can raise property finance Chennai without that. NBFC will not ask you for Upfront fees when they are lending money on Loan against property in Chennai, except for Processing fee.
  • Don’t believe, when a mediator or a connector commit that he can raise 100 or 200cr Loan Based on Loan. Just a illusion, they pull you into a trap.
  • No Financiers is ready to fund on Private loan against Property in chennai lesser than bank rate of interest.
  • Third party collateral became a  useless word in every sector for borrowing Private Property Loan in Chennai.
  • If your profile is accepted by the financier, don’t go for tough agreement like sale deed or others
  • Watch your steps before entering into any contract with mediators. Take a wise decision before taking Property Loan in Tamilnadu from Private Financiers

Bursting the Illusion :

Repayment Schedule:

  • Repayment schedule is short, maximum of 11 months. even if it is loan against patta land in chennai. If you want to renew the agreement, you have to go for another 11 months. But in NBFC’s or Private Institutions you can get a maximum of 15 to 20 years. There are companies who also deals with very short term private finance i,e., unsecured finance.

Waiting Period :

  • Private Finance against land in chennai takes more time than the NBFC’s. Generally, they have a misconception that profile holders can raise the money within a week. That’s not true, you have to wait till the lender say yes. Lenders always have a problem of shortage of money. So waiting period will take more than a month.
  • If a mediator tells you, that you can raise the funding in two days or a week for loan against property private finance in chennai for your business. Then, you are in wrong hands or contract agreement between you and the lender will have tough writing likes, high Property interest rates and Compulsory sale deed for your land Financing. You have to wait for funding, if you are expecting good Vacant land Finance in Chennai and with minimum formalities.

Interest Rates:

  • No Place is better than NBFC or Private Institution. You get a Lowest interest rates on Loan Against Property in Chennai like 9 to 15% PA. But In Private Finance the Minimum Interest rate on land starts from 24% to 50 % PA. On most cases, businesses with emergency will choose this high interest rates for money against property. For this purpose we choose the right platform for our clients. Everyone wants immediate funding, they just borrow the money to sort out their current issue. What happens in long run, you will be paying high interest with pain.

::: Get Loan Against Property Without Income Proof :::

Loan Against Property in Chennai Without Income Proof or Income Tax Return (ITR) :

From a Minimum of Rs 3 Lacs to Maximum of Rs 15 Lacs, a client can raise Loan against Property in Chennai without income proof. But client must show income source visually to bankers. Filing Same Date ITR is legally accepted by many NBFC’s & Private Institutions. If you don’t have any bank transactions, hand written bills and vouchers are accepted by NBFC’s for LAP Loan.

Tax Benefit:

Tax Benefit on Loan Against Property in Chennai is NIL – At least in Home loan (Under 80 C and 24) can get some tax benefits.

::: Required Document List :::

Photo Identity Proof: (Any One Proof is Enough)

  • Passport
  • Pan Card
  • Voters ID Card
  • Drivnig License

Residence Address Proof  (Any One Proof is Enough)

  • Passport
  • Ration Card
  • Utility Bill

Residence Ownership Proof (Any One Proof is Enough)

  • Property Documents
  • Maintenance Bill
  • Electricity Bill
 

Other Documents:

  • Income Proof: Latest 3 months Salary Slips and Form 16.
  • Job Continuity Proof: Any One from the following;
  • Current Employment Certificate
  • Current Job Appointment letter (if it is more than 2 years)
  • Experience Certificate (including your previous job certificate or appointment and relieving letter)
  • Bank Statement: Latest 1 year statement where your salary is getting credited.

Required Property Details:

  • Sale deed in the name of the applicant
  • Parent deed
  • Deed of origin
  • Approved plan
  • Notification pertaining to the approval of the plan
  • Legal Opinion
  • E. B. pay receipt for the current period
  • Patta in the name of the applicant, in case of property mortgage or in the name of the seller in case of property purchase
  • E. C. for 33 years covering the sales deed transaction
  • Sale agreement in case of property purchase
  • Property Purchase Loan
  • Valuation Report
LendersInterest RatesFeeLoan AmountTenure
IndusInd Bank9.75 – 14.00%upto 2%10lacs – 5 CroreUpto 15 Yrs
Kotak Bank10.00 – 14.00%upto 1%10lacs – 3 CroreUpto 12 Yrs
Citi Bank8.50% – 9.50%10lacs – 5 CroreUpto 5 Yrs
Standard Bank9.50% – 9.80%upto 1%10lacs – 5 CroreUpto 15 Yrs
Federal Bank11.65% – 14.90%0.50%10lacs – 5 CroreUpto 10 Yrs
DBS Bank9.50% – 9.70%0.50%40lacs – 3 CroreUpto 10 Yrs
IndiaBulls Bank10.50% – 12.00%upto 1%10lac – 15 Crore
Edelweiss Bank12.00 %- 12.75%upto 2%10lacs – 5 CroreUpto 15 Yrs
Karur Vysya9.75% – 14.00%0.50%10lacs – 5 CroreUpto 9 Yrs
Syndicate Bank9.75 – 14.00%upto 0.5%10lacs – 5 CroreUpto 10 Yrs
IDFC Bank9.75 – 14.00%upto 1%25lacs – 5 CroreUpto 15 Yrs
Canara Bank11.45%upto 1%10lac – 10 CroreUpto 7 Yrs
Corporation Bank11.20% – 13.20%upto 1%2lacs – 5 CroreUpto 10 Yrs
Bank of India10.50% – 11.00%upto 1%10lacs – 5 CroreUpto 12 Yrs
OBC Bank10.70%0.50%5lacs – 10 CroreUpto 10 Yrs
HSBC Bank9.85%upto 1%3lacs – 10 CroreUpto 15 Yrs

::: Banks Toll Free Number’s :::

AXIS BANK1800 419 5959
ANDHRA BANK1800 425 1515
ALLAHABAD BANK1800 226 061
BANK OF BARODA1800 102 4455
BHARATIYA MAHILA011- 47472100
DHANLAXMI BANK1800 425 1747
IDBI BANK1800 200 1947
KOTAK MAHINDRA BANK1800 102 6022
SYNDICATE BANK1800 425 5784
PUNJAB NATIONAL BANK1800 122 222
ICICI BANK1800 102 4242
HDFC BANK1800 227 227
BANK OF INDIA1800 22 0229
CANARA BANK1800 425 0018
CENTRAL BANK1800 200 1911
KARNATAKA BANK1800 425 1444
INDIAN BANK1800 4250 0000
STATE BANK1800 425 3800
UNION BANK1800 208 2244
UCO BANK1800 103 0123

VIJAYA BANK1800 425 5885
YES BANK1800 2000
KARUR VYSYA1860 200 1916
FEDERAL BANK1800 420 1199
INDIAN OVERSEAS BANK1800 425 4445
SOUTH INDIAN BANK1800 843 1800
SARASWAT BANK1800 22 9999
CORPORATION BANK1800 445 3555
PUNJAB SIND BANK1800 419 8300
BANK OF HYDERABAD1800 425 1825
STATE BANK OF PATIALA1800 180 2010
BANK OF TRAVANCORE1800 425 7733
STATE BANK OF MYSORE1800 425 2244
CITI BANK1800 44 2265
ORIENTAL BANK1800 180 1235
ABN AMRO BANK1800 11 2224
DHFL1800 3000 1919
Shriram Housing Finance18001034959
Edelweiss Loan1800-102-3335
Equitas Bank1800-3000-1222

Contact Us

Bergmount Business Service Chennai

AddressVaithiyalingam Nagar, Nanmangalam, Chennai, Tamil Nadu

HoursOpen today · 9AM–6PM

Phone044 4852 9207

 Mobile: +91 8939742073

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