Property Loan

A loan against property is an advance against your home, business space, Industrial Property or even a plot. On the off chance that all the area titles are set up, you have a wage and you are qualified then this is the less expensive loan choice for you. Despite the fact that the investment rates on this advance are higher than that of a home loan, its less expensive than that an individual advance or a loan against security.

Vikash Financial Services give complete answers for Property Loan service (Home Purchase, Construction, and Loan Against Property. We additionally give proficient custom arrangements utilizing our colossal experience as a part of account segment. We are affectionate sorted out group that comprises of a drive, dynamic and capable achievers

Our Salient Features:

  • Attractive interest rates
  • Doorstep service
  • Loan against property – Residential
  • Loan against property – Commercial
  • Loan for purchase of commercial property
  • Take-over of existing loan with additional refinance (Balance Transfer)

Loan against properties:

  • Loans available for salaried individuals
  • Loans are available from Rs 1,00,000 to 25,00,000/-
  • Repayment tenures from 12 to 60 months
  • Best in Class Rate of Interest
  • Simplified documentation.
  • Simple procedure, minimal documentation and quick approval

Eligibility

Salaried Individuals:

  • Any individual who is in permanent service in government or a reputed company
  • The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to the age of superannuation

Professionals:

  • Professionals (ie, doctors, engineers, dentists, architects, chartered accountants, cost accountants, company secretary, and management consultants only) can apply
  • The applicant should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Self-employed Individuals:

  • Any individual filing Income Tax returns can apply
  • The applicant in all the cases should be above 24 years of age at the time of loan commencement and up to 65 years or less at the time of loan maturity

Lease Rental Discounting (LRD):

  • All resident individuals can apply. The lessee must however be a company as defined under the Companies Act, 1956. Funding will be done only against ready commercial property. The same will be restricted to 85% of the net present value of the future rentals or 50% of the value of property, whichever is lower

List of Documents required

Proof of identity

  • Voter’s ID card or driving license or PAN card or photo credit card or employee’s ID card, or defense or police or government department ID card
  • Voter’s ID card or driving license or PAN card or photo credit card

Proof of income

  • Latest salary slip showing all deductions or Form 16 along with recent salary certificate IT Returns for the last 2 years and computation of income for the last 2 years certified by a CA

Proof of residence

  • Bank account statement or latest electricity bill or latest mobile or telephone bill or latest credit card statement or latest LIC policy or insurance premium receipt or employers letter certifying the current mailing address or latest NSC or other similar instruments indicating the address or existing house lease agreement

Bank statement or pass book where salary or income is credited

  • Last 6 months

Guarantor form

  • Optional