You are on page 1of 18

Loan Against Property

in Chennai.
NBFCs or BANKING.

Private Institution.

Private Finance.

converted by Web2PDFConvert.com
Are You Looking For Loan Against Property in Chennai ?

What is Loan Against Property ?


The Phrase itself have its meaning, pledging your property with bank for a LOAN.

Property Loan Parameter


Profile of the Borrower.
Valuation of the Property.
Repayment Source of the Borrower.

Why Loan against Property is Better Option ?

Low Interest Rates:

Incomparably Loan Against Property in Chennai is cheaper than Unsecured loans. Since its an secured loan
banks dont hesitate to fund you. You get quick disposal than other loans. Loan Against Property Interest rates
are classified into two.

Fixed Lap Interest Rates:

Interest rate will be constant till the end of the loan tenure. Most of the NBFCs offers this type of interest rates
to the clients.

Floating Lap Loan Interest rate:

Interest rates changes according to the Market rates. Predicting the Lap Rate of Interest is irrational due to
Market conditions. Linked with MCLR (Marginal Cost Of Funds Based Lending Rates). Clients cannot judge
the fluctuation of Property Loan Interest rate, so EMI vary time to time. With the help of Bergmount
Professionals you can Compare Loan Against Property Interest Rates Lively.

EMI & Loan Tenure:

Like housing loan, the tenure of loan repayment goes up to 20 years. Loan against Land in Chennai, EMI is very
low because of long repayment schedule. When you choose long tenure you get low monthly EMI.

Pre-Closure option is available in LAP.


Long EMI tenure will increase the eligibility.
Low EMI results in longer loan tenure.
Your Age Play an important role on EMI & Tenure.
Loan Tenure in Public sector banks Average from 10 years to 15 years.
Tenure Average available in Private Sector banks is 15 years to 20 years.

converted by Web2PDFConvert.com
converted by Web2PDFConvert.com
converted by Web2PDFConvert.com
Loan With Property As Collateral:

People have lot of confusion about, which property is suitable for Bank Loan Against Property in Chennai. Be
Easy, From a little piece of Vacant Land to Big Multiplex. Be sure to yourself that the property holder should
own a Patta land in chennai for loan. Getting a Loan for a Vacant Land is easy through Bergmount, we know
where and when to login your profile. So, Apply Loan Against Property Process immediately with us.

Loan on Property Classification:

Loan Against Vacant Land


Loan Against House Deed.
Loan Against Plot, Residential Plot.
Loan Against Residential Property & Commercial Property.

converted by Web2PDFConvert.com
Loan Against Factory Office.
Loan Against Industrial Property.
Loan Against Heavy Manufacturing Building.
Loan Against Light Manufacturing Building.
Loan Against Research & Development Parks.

Overdraft:

Banks and NBFCs offer various features for LAP clients. Those Features gives life to Loan Against Collateral
because, clients can pledge their property to avail Overdraft Facility or they can go for EMI Based LAP. This
feature is the cheapest loan against property available and its flexible too.

TOP UP or Takeover LAP:

Loan against Property in Chennai, enables the options for Loan Top Up. When you are in need of more money in
future bank loan on land property allow you to top up. But make sure that you pay your existing EMI on a
regular basis without any bounces or late payment.

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

From a Minimum of Rs 3 Lacs to Maximum of Rs 15 Lacs, a client can raise Loan against Property without
income proof. But client must show income source visually to bankers. Filing Same Date ITR is legally
accepted by many NBFCs & Private Institutions. If you dont have any bank transactions, hand written bills and
vouchers are accepted by NBFCs for LAP Loan.

Loan Against Property Tax Benefit:

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

converted by Web2PDFConvert.com
NBFC Loan Against Property in Chennai:
From 2012, LAP Through NBFC in India has been raised from 43,000 to Rs 1.48 Trillion. NBFC got some
priority market segments like SME, MSME where the cash flows are higher.

Asset Recognition Cycle 150 days. In case of Pending payment for more than 150 days its considered
as NPA.

NBFC Banks That Offer Land Loans:

DHFL, Magma, Oriental, L&T, Bajaj, Equitas, Edeleweis, Religare, so on and so forth. These are the Best

converted by Web2PDFConvert.com
Bank for Loan Against Property. You can get upto 30 Year Land Loan.

Why Choosing NBFCs & Private Institution is Better option than Nationalized Banks:

CIBIL:

Cibil is a separate credibility rating body, formed by 7 nationalized banks to create a credit standard for the
clients. Though credit score is a drawback for some customers, nbfcs take a liberal considerations. Every
NBFCs have their own standards for Property Against Loan. So, struck with Low Cibil Score ? Need Loan
Against Property immediately Just Call Us 8939742073

Process:

Loan Scheme and Process for Nationalized banks are same from eagle point view. They are governed by
Government of India & RBI. In Detailed look, profile rejection history of nationalized banks is 50 to 60 % for
Property as Collateral Loans. Nationalized banks expect 99% pure clients, like No Cheque Bounce, No Emi
Slip and Complete No to Cibil Defaulter.

Responsibility:

You cannot expect proper response from the nationalized banks, because you are one in their 1000 rejections.
You dont get a proper guidance from bank officials and connectors while securing loan against a Property.
They dont guide you or educate you the nuances step by step to avail loan.

Expectation:

What happens when, taking a loan against your house is lower than your expectation. As a profile owner, your
instinct intuition say, My Profile can generate more loan, end of the day you get low disbursement and you
cannot ask question to officials why this happened. At least you can question of WHY ? to a Private Institutions
and NBFCs.

converted by Web2PDFConvert.com
Loan Schemes:

Want to Borrow Money Against Property ? Looking for Loan Schemes, but in reality most of the loan scheme
arent active in many banks, even if it is active those schemes will be belong to high profiles. Normal people
like us arent aware of those schemes. If it is Private Institution or NBFCs, we can point out why it is not
active ?. DENA, PNB, CANARA, IOB, BOI are the list of Best banks for Land Loans.

Mistakes:

As a loan data research & lead Aggregator, we find number of clients complaining about CIBIL Update
mistakes during CIBIL Entry Process. Nationalized banks do makes lot of mistakes and hide it. We have to
work hard to overcome that, though the mistakes are done by nationalized banks. These Banks do have lot of
manipulators as well. Profile is Manipulated by others ? Worrying about the possibilities whether Can I Get
Loan Against Property. Bergmount will guide you to get Secured Loans on Property.

Risk Takers:

Private Institution have the immense ability to take risk. Branch managers and higher officials are risk takers.
They value every client, even slightly imbalanced profile can get quick disposal. Because, they have their own
standards. Branch Managers always try to give a shot for credible customers. High Risk Takers.

converted by Web2PDFConvert.com
converted by Web2PDFConvert.com
Loan Against Property Eligibility:
Applicant Should be an Indian Citizen.
Must be 21 years of age at the time of loan application.
Should be Employed in an organization or running an business.
Bank Expect reasonable repayment crebility
Having good credit history like Existing Loan EMI without bounces, Proper credit card payments.

These are the Basic Eligibility for Loan Against Property

Terms May Vary From Banks to Banks

loan against property for cibil defaulters in chennai

converted by Web2PDFConvert.com
Loan Against Property For Cibil Defaulters in Chennai:

Unlike National banks, the lucrativeness for profile login is low in nbfcs 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, we help you to increase that credibility & We will guide you step by
step.
As per RBI Guidelines, NBFCs and private institution should not consider cibil score for property finance
logins.
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.

converted by Web2PDFConvert.com
Loan Against Land in Chennai
Bergmount connect you with the best fund raising platform, may be an individual or private finance.

How not to get influenced by the fraud mediators or connectors:


Never pay any upfront fees, you can raise property collateral loans without that. NBFC will not ask you for
Upfront fees when they are lending money against property except for Processing fee.
Dont 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 Lenders for Land Loans, will fund you lesser than banking interest rates
Third party collateral became a useless word in every sector for borrowing loan secured against property.
If your profile is accepted by the financier, dont go for tough agreement like sale deed or others
Watch your steps before entering into any contract with mediators.

Bursting the Illusion :

converted by Web2PDFConvert.com
Waiting Period :

Private Finance takes more time than the NBFCs. Generally, they have a misconception that profile
holders can raise the money within a week. Thats 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 for
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 loan interest rates and with minimum formalities.

Repayment Schedule:

Repayment schedule is short, maximum of 11 months. If you want to renew the agreement, you have to go
for another 11 months. But in NBFCs 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

Interest Rates:

No Place is better than NBFC or Private Institution. You get a Lowest interest rates on Loan Against
Property 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.

converted by Web2PDFConvert.com
Required Documents for Loan Against Property in Chennai:

Clear Pan Card copy for both the directors & Company (Colour Copy)
Clear Passport copy for both the directors (Colour Copy)
Latest landline & postpaid bill for residence & office (two months)
Own property proof (EB Card or property tax receipt in chennai)
Business contunity proof (Tin registration or service tax reg certificate)
All loan schedules & facility sanction letter ( both company & directors)
Latest three years IT returns with complete financials ( Tax audit / directors & auditors report / sub
schedules / annexures)
Form 20B, Form 32 & Form 26AS ,VAT Returns & Service Tax Returns (Apr 14 to sep-15)
Latest Share holding pattern & List of directors
Latest six month bank statement for all accounts ( Savings, Current & Facility accounts)
Colour Passport size photo for both the directors & Audited provisionals.

Co-Applicant:
converted by Web2PDFConvert.com
I D Proof, Age proof and Signature proof Passport, PAN card, Employer I D, Driving Licence
Address proof: Passport, Bank statement (or) Passbook, Telephone (or) Mobile bill, Letter from
employer.

Required Land Documents for Loan Against Property in Chennai:

Parent document
Sale deed
Plan
Patta
EC -26 years

Banks ask for more Loan Against Property Documents Required when needed, for land loans & Vacant Property
Loan Eligibility.

converted by Web2PDFConvert.com
Analyse your Own Profile (Loan For Land):

No EMI Bounce, No Cheque Bounce, No Late Payments then you have a better place, just go to nationalised
banks. They expect these clients.

If your Instinct Intuition says Im Slightly Imbalanced. Just call Us for to avail loan in Private Institutions or
NBFCs. Every Profile have a right place to login, depending upon Private Institutions Norms & Standards.
After all these, your profile gets rejected again just accept the fault, dont go to any Legal Manipulator who go
against the Indian Law. If you get caught, you will be in trouble not that manipulator. Are you looking for Home
Loan in Chennai

converted by Web2PDFConvert.com
Copyright 2015 2017 | Design & SEO by Bergmount
All Rights Reserved | Powered by WordPress

converted by Web2PDFConvert.com