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LOAN AGAINST PROPERTY

Loan Against
Property

India Shelter extends loans amounts upto 10 lacs to urban households with monthly incomes (documented or undocumented) and more. Interest rates are higher for home equity loans (or Loan against Property), where the end-use is not for housing. A file processing fee of 4.0% (including service tax) is charged.

Loan Purpose

  • Business
  • personal

Features

  • Easy 10-years repayment option available
  • Loan amount between Rs 300,000 – Rs10,00,000.
  • Loan Approval within 7 days
  • Easy monthly repayment schedule
  • Our loans are also available to households that do not have any income proof
  • We provide direct-to-home service in local language
  • Assistance on phone available at local call rates in Hindi and English
  • Our loans are available at a fixed rates. That means that the EMIs don’t vary with The volatility in the market or a change in the interest rates

Loan Against Property

Loan Tenure – Loan Against Property 10 years or 120 months
Loan Amount – Loan Against Property Maximum Rs. 10 lakhs
Rate of Interest Interest charged by India Shelter is FIXED for Loan against Property. Please refer the Tariff Schedule for amount wise rate of Interest.

Loan against property
Rate of Interest:20%
Processing Fee: 4.0%

The Annual Percentage Rate (APR) for the loans given by India Shelter is as follows

Type of Loan Loan Amount APR
Loan Against Property 300000 To 1000000 20.23%

In the quarter Jan – Mar’15, India Shelter has disbursed loans at rate of interest mentioned below. The mean interest rate for the loans disbursed in quarter Jan-Mar’15 is 18.30%.

Type of Loan Loan Amount Rate of Interest
Loan Against Property 300000 To 1000000 20.00%
Prepayment charges A. Non-housing Loans:
Prepayment charges up to 4.5% (inclusive of service tax) of principal outstanding as on date will be applicable.
Fees and charges Loan against property
Rate of Interest: 20%
Processing Fee: 4%
Eligibility
Applicant(s) Family members and co-owners of the property
Documents Required 1. Application form with photograph duly signed by all applicants
2. Identity proof – Voter ID, PAN, Driving License, Bank Passbook, etc.
3. Age proof – Voter Id, PAN, Driving Licence, Passport, Birth certificate, pass certificate of 10th or 12th
4. Property documents
5. Colored passport size photograph
Additional documents that will help us process the loan easily 1. Last 3 months salary slips
2. Income Tax Returns of the last 2 years or Business Records
3. LIC Policy
4. FD or RD
5. Details of any other loan account that you are replaying currently
6. Any other savings or investment details
Security Equitable Mortgage of the property being financed by deposit of title deeds
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