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Loan Against Property Balance Transfer + Topup

Now your property will become your cash ….avail the best mortgage loan rates only with Bankgurus .

8.60% *
  • Loan Against Residential Property/ Plot
  • Loan Against Commercial Property/ Plot
  • Loan to purchase Ready Commercial Property
  • Loan to purchase Under-construction Commercial Property
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Loan Against Property Balance Transfer + Topup



Loan Against Property Balance transfer as the name suggests is a transfer of existing Loan Against Property to a new financial institution which may or may not have a top up loan along with it .

Usually there are 2 reasons with a customer to transfer his existing Loan Against Property , one is because of a higher rate of interest on existing home loan and second is a additional need of funds on existing property ( subject to sufficient property value as per banks policy ).

Usually the banks fund up to 60 – 65 % of the market value of the property in a residential constructed property , 55-60 % in a commercial constructed property and 50 – 55 % in a industrial constructed property .

Commercial Purchase Loan(Constructed)



The financial institutes ( Banks / NBFC`S ) also provide the loan for the purchase of a commercial constructed property .

The maximum funding that can be availed on a commercial purchase is upto 85 % of the agreement value or 65 % of the market value whichever is lower .

Dropline Overdraft Limit(DOD)



DOD is a kind of facility given by banks to its customers against his property . In a DOD the customer use the fund as per his requirements and there is no interest is charged on a unutilized amount , Although the banks often has a condition of minimum utilization , which might vary from bank to bank . Usually the minimum utilization condition is from 30 – 40 % average in a quarter failing to which the customer is levied with some penalties .

As the name suggest in a DOD product the utilization limit of the customer drops down by 10 % per annum and hence is zeroised in approved loan tenure by itself .

As the name suggest in a DOD product the utilization limit of the customer drops down by 10 % per annum and hence is zeroised in approved loan tenure by itself .

In some banks the limit is dropped on a monthly basis computing to 10 % of the approved limit in 12 months and in some banks the same is dropped on a yearly basis .

Also unlike a traditional working capital limit DOD doesn’t not require yearly renewals , yearly audits , stock statements etc. Hence it is more of a customer friendly facility without a monitoring .

Industrial Property Purchase



Few non banking financial institutions also fund to purchase an industrial property.

Usually in an industrial purchase a maximum of 60 % of market value of the property can be funded .

The rate of Interest on an Industrial Purchase is higher than the normal Loan against property.

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Service Charges & Fees

Find the service charges for your MORTGAGE LOAN

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Easy Documentation

Quick, Easy and minimum documentation

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FAQs

Check our Frequently Asked Questions

Lease Rental Discounting

If a customer holds a commercial property and the same has been leased out to a Category A company or firm the customer can avail a loan against that property considering the rental income coming from that property as his Income .

The Maximum tenure for which the loan will be the amount of tenure left for lease as per the Lease agreement between the lessor and the lessee. The maximum loan that can be funded under this program would be 60-65 % of the market value of the property

MORTGAGE Loan DOCUMENTATION



Partnership Firm Applicant Company Applicant Individual / Proprietorship Firm
3 Year ITR/Computation/Audit report with 3cd report and all the annexures ** 3 Year ITR/Computation/Audit report with 3cd report and all the annexures ** 3 Year ITR/Computation/Audit report with 3cd report and all the annexures **
1 Year Current account statement 1 Year Current account statement 1 Year Current account statement
Firm Pan Card Company Pan card Pan Card of individual/proprietor
Firm registration Company registration- VAT /RST/CST Firm registration
Partnership Deed MOA Vat Returns
GST Returns List of directors & shareholding pattern ( CA Attested) Property papers in case of Mortgage /DOD
Property papers Property papers in case of Mortgage /DOD Loan details , if any
Property papers in case of Mortgage /DOD 51% shareholders to be on Loan structure 2 Photo
Loan details , if any Loan details , if any Loan details , if any
Coapplicants Coapplicants Coapplicants ( Blood Relative )
Pan Card of all the partners Pan Card of all the Directors Pan Card
Residence address proof of all the partners Residence address proof of all the Directors Residence address proof
2 Photo of each partner 2 Photo of each Director 2 Photo
1 Year Saving account statement of all the partners 1 Year Saving account statement of all the Directors 3 Year ITR/Computation/Audit report with 3cd report and all the annexures **
In case of Commercial Purchase In case of Commercial Purchase In case of Commercial Purchase
Agreement to Sale Agreement to Sale Agreement to Sale
** - If Unaudited than ITR/Computation with P & L ,Capital account and BS ** - If Unaudited than ITR/Computation with P & L ,Capital account and BS ** - If Unaudited than ITR/Computation with P & L ,Capital account and BS

Frequently asked questions (FAQ)



Mortgage Loan

1. What is the maximum funding that can be availed in a mortgage loan program ?

The maximum funding that can be availed is different into different property types :-

Residential :-
Maximum upto 75 % of the market value subject to financial eligibility.

Commercial :-
Maximum 65 % of the market value subject to financial eligibility.

Industrial :-
Maximum 55 % of the market value subject to financial eligibility.

Open Land :-
Maximum 45 % of the market value subject to financial eligibility .

2. What are the different loan types can be given into a Mortgage Loan Program?

The different loan types could be :-
Term Loan / EMI Loan :- Loan funded into a Equated Monthly Installment form . DOD :- Drop Line Overdraft Limit .
CC Limit :- Traditional Cash credit facility


3. What is the maximum Tenure into a Mortgage Loan ?

The maximum tenure for a mortgage loan could be 15 years


Mortgage Loan Processing Fees & Charges

Here is an exhaustive list of all the fees and charges to be paid for the Mortgage loan.

  • Description of Charges
    Mortgage Loan
  • Loan Processing Charges*
    1.0% of Loan Amount + GST*
  • Stamping Charges*
    Actual
  • AMC(Annual Maintance Charges)
    N/A

  • Description of Charges
    Mortgage DOD
  • Loan Processing Charges*
    1.0% of Loan Amount + GST*
  • Stamping Charges*
    Actual
  • AMC(Annual Maintance Charges)
    • Upto 50LAC- 30000/Annual
    • Above 50LAC- 50000/Annual


Apply in three easy steps


1

Fill query form

Fill basic details like Name, Age, Salaried / Self employed, Loan Amount, contact details, email id, preferred time for call back.

2

Receive call

Call Confirmation to avoid any miscommunication

3

Submit loan documents

Documents Will be confirmed during call confirmation

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