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Mortgage loan

Quickly prepare your Mortgage Loan and grow your business with bank loans or investments.

 
 
 
 

    Quick Apply For Loan

    Mortgage loan Processings

    All you need to know

    A Mortgage is a type of loan in which property or real estate are accepted as a collateral (asset pledged by a borrower to a lender in return of loan). The borrowers receives some amount of loan from lender upon agreement to return amount over a set time span until the complete loan amount is return back to the lender. Mortgage loan are of different types based on their term dates (depended on institution), amount of payments per period and interest rates. Generally mortgage loans are taken by the individuals and business owners to make large real estate’s purchases without paying the complete value of the purchase up front. For a period of many years, associated interest, the borrower repays the loan, until the borrower completely owns the property free and clear. Mortgages are referred in different terms such as “loans against property” or “claims on property”. If the borrower stops paying the mortgage, the bank can foreclose. Mortgage loans comes in different types based on interest rates.

    Why to go for Mortgage Loan?

    A Mortgage is a type of loan in which property or real estate are accepted as a collateral (asset pledged by a borrower to a lender in return of loan). The borrowers receives some amount of loan fMortgage loans are easy to go either with direct lenders or with brokers. But you must have clear idea about mortgage loans and choose the best deal such as-

    • The rate- Fixed rates/ Tracker Rates/ Discount rates
    • How to repay the loan
    • How much you need to borrow
    • Charges and fees
    • A secured loan

    Mortgage Loan Eligibility

    Both Self Employed or salaried people irrespective of the income can avail mortgage loan. Mortgage loan eligibility factors encompasses of:

    • Income
    • Property Valuation
    • Age
    • Existing liabilities
    • Financial Documents
    • Current Work Experience
    • Number of Dependents

    Documentation required for Mortgage loan:

    For Salaried:

    • Identity and Address Proof
    • Form 16
    • Latest Salary Slips
    • Application form with photograph
    • Bank Statements (Last 6 months)
    • Processing fee cheque

    For Self-Employed:

    • Identity and Address Proof
    • Proof of business existence & Education Qualifications
    • Last 3 years P&L and Balance Sheet
    • Application form with photograph
    • Last 3 years ITR
    • Bank Statements (Last 6 months)
    • Processing fee cheque

    Benefits of Mortgage Loan

    • Buying capacity
    • Cost effective
    • Easy to repay
    • Better credit score
    • Tax benefits

    Salaried Self-employed Employment certificate from the employer Copy of audited financial statements for the last 2 years Payslips copies of few months and TDS certificate Copy of partnership deed if it is a partnership firm or copy of memorandum of association and articles of association if it is a company Latest Form 16 issued by employer Bank statements Profit and loss account for the last few years Income tax assessment order

    How is my Home loan Eligibility Calculated

    Home loan are calculated by the complete information about the borrower like- age, income, salary, assets, liabilities, stability and continuity of occupation and savings history. Also Home loan eligibility is analysed based on your repayment capacity and the value of the property.

    • Qualifications
    • Income
    • Spouse’s income
    • Age
    • Stability and continuity of occupation
    • No. of dependants
    • Savings history
    • Assets/Liabilities

    Benefits of Home Loans:

    • Deduction on interest
    • Deduction on principal repayment
    • Deduction on stamp duty and registration charges
    • Deduction on pre-construction interest
    • Deduction under Section 80EE

    Our Loan Partners

    HDFC Bank
    Axis Bank
    ICICI Bank
    SBI Bank
    Tata Capital Bank
    kotak Bank
    Standard Chartered Bank
    Bajaj Finserv Bank
    YES Bank
    Indusind Bank
    LIC
    IDFC First Bank
    Punjab National Bank
    Fullerton India Bank
    Bank Of Baroda Bank
    TVS Capital Bank
    HDFC Home Loans Bank
    Aditya Birla Finane
    bandhan bank limited
    catholic syrian bank limited
    city union bank
    DCB bank
    dhanlaxmi bank limited
    jammu kashmir bank limited
    karnataka bank
    karur vysya bank limited
    lakshmi vilas bank limited
    nainital bank limited
    rbl-bank-limited
    south indian bank limited
    tamilnad mercantile bank limited
    the federal bank limited

    COMPARE INTEREST RATES

    Business Loan Personal Loan Mortagage Loan Home Loans
    BankInterest RatesProcessing FeesTenureFore ClosureProcess Time
    HDFC Bank16% onwardsUpto 2.50% of loan amount (Min. Rs. 2,359 – Max. Rs. 88,500)12 months – 48 monthsNo pre-payment permitted until repayment of 6 EMIs2 DAYS
    ICICI Bank18% p.a. onwardsUp to 2% (plus applicable taxes) of the loan amount7 yearsTo be charged as per the termed and conditions mentioned in the sanction letter2 DAYS
    Axis Bank15% onwardsUp to 1.75% of loan amount + applicable taxes Nil3 DAYS
    Indus Ind Bank12% to 23%0.5%- 2%5 Years4% post 12 EMI clearance3-4 working Days
    Standard Chartered17.25% p.a. onwards2% of the amount disbursed60 months5% of outstanding Principal2 DAYS
    Yes Bank13.25% to 19.99% (Fixed Rate)Up to 2.50% of the loan amount, min. of Rs. 99912 months to 60 monthsNil, Until 6 months2DAYS
    Kotak Mahindra Bank15% onwards2% of the loan amount + GSTUp to 48 monthsNot available for business loans3 DAYS
    IDFC First20% onwardsUp to 3.5% of the loan amountMin. 12 months – Max. 5 years5% of Principal loan outstanding, at the time of loan closure for Simple Business Loan4 DAYS
    Citibank8% onwardsUp to 2% of the sanctioned loan amount5 YEARSUp to 2% of the outstanding amount 
    SBI11.20%From 2% to 3%From 12 months to 48 monthsAllowed after 6 EMI's, 3%3 DAYS
    Tata Capital18% onwardsUp to 3.5% of the loan amountMin. 12 months & Max. 36 months4.5% of the principal outstanding on the ongoing business loan3 DAYS
    Fullerton India17% onwards6.5% of the loan amountFrom 12 months to 60 months0 to 6 EMIs fully paid- Not allowed
    7 to 17 EMIs fully paid – 7%
    18 to 23 EMIs fully paid – 5%
    24 to 35 EMIs fully paid – 3%
    36 or more EMIs fully paid – 0%
    3 DAYS
    Bajaj Finserv18.00%Upto 2% of loan amountFrom 12 months to 48 monthsAllowed after 1 EMI's, 4%4 DAYS
    Bank NameInterest RateProcessing FeesTenurePartial PaymentFore ClosureProcess Time
    HDFC Bank10.25% – 13.45%Rs.999/- on entire Loan amount to 1.5%12 to 72 monthsNo PartPayment charge, only for 10 Lakhs aboveNil charges for above 10 lakh, Otherwise 4.00%24 Hrs
    ICICI Bank10.5% – 17.50%0.99% – 2.25%12 to 72 monthsNo PartPayment charge, only for 10 Lakhs aboveZero above 10 lakh & 12 EMI Paid, Otherwise 5.00%48 Hrs
    Axis Bank10.25% – 21.00%0.5% – 2%12 to 60 monthsOption available from 1st month with 4% chargesN.A for above 10 Lakhs60 Hrs
    Indus Ind Bank12.99% – 20.00%2%12 to 60 monthsNo option 60 Hrs
    Standard Chartered13.00% – 21.00%2.00% for salaried, 2.50% for self employed12 to 60 monthsNo optionUp to 5.00%3-4 Working Days
    Yes Bank10.25% – 16.99%Upto 2%12 to 72 monthsNo optionNil Above 7.5Lacs48 Hrs
    Kotak Mahindra Bank10.50% – 16.99%Rs.999 – 2%12 to 60 monthsNo optionZero above 10 lakhs loan amount, Else 5.00%60 Hrs
    IDFC First10.99% – 21.00%Upto Rs.999913 to 60 monthsNo optionupto 5%60 Hrs
    Citibank11.49% – 16.50% 14 to 60 monthsNo optionUp to 3%72 Hrs
    SBI Personal Loan11.95% – 16.55%2.00% – 3.00%15 to 60 monthsNo optionNIL72 Hrs
    Tata Capital11.99% – 17.00%1.25% – 2.50%16 to 60 monthsNo optionNIL Foreclosure charges after 12 EMI72 Hrs
    Fullerton India11.99% – 26.00%2.00%17 to 60 monthsNo optionUpto 7.00%, 0% after 3 years48 Hrs
    Bajaj Finserv11.99% – 16.00%Upto 2.00%18 to 60 monthsNo optionUpto 4% post 1st EMI clearance48 Hrs
    BankInterest RatesProcessing FeesTenureFore ClosureProcess Time
    HDFC Bank8.25% onwardsUp to 1.50% of the loan amount or Rs. 4,500 whichever is higher, plus applicable taxes.Up to 15 yearsNA10 day
    ICICI Bank9% onwards (floating)1% of the loan amountUp to 15 years4% on the principal outstanding*10 days
    Axis Bank10.50% onwards (floating rate)1% of loan amount or Rs. 10,000 (whichever is higher)Upto 20 yearsNon-individuals – 3%, if the amount pre-paid exceeds 25% of the principal outstanding during a calendar quarter, else no prepayment penalty10 days
    Indus Ind Bank10.75% to 14%up to 3%15 yearsNA10 days
    Standard CharteredStarting from 7.99% p.a.up to 3%25 years.NA10 DAYS
    Yes Bank9.35% to 10.50% p.a.2% of the loan amount plus GST or Rs.10,000, whichever is higher25 years.NA10 DAYS
    Kotak Mahindra Bank6.65% onwards0.25%- 0.5% of loan amount and Statutory Dues + GSTUp to 20 yearsFor part prepayment made over 25% of the outstanding loan amt. – 4% of the excess prepayment amt. shall be charged10 DAYS
    IDFC First8.15%Up to 1% of the loan amountUp to 15 yearsPrepayment of more than 25%: 2%+ taxes and surcharge10 DAYS
    Citibankstarting from 8.70%*p.aUp to 0.75% of the sanctioned loan amountUp to 15 years4% for first 3 years and 2% thereafter10 DAYS
    SBI8.45% p.a. onwards1% of loan amount + GST (max. Rs. 50,000)5 – 15 yearsNil10 DAYS
    Tata Capital10.10% onwards1% of the loan amount + GST1 – 15 years4% of the outstanding principal10 DAYS
    Fullerton India7.99% onwardsUp to 3% of the loan amountUp to 30 yearsNo prepayment charges for partial/full prepayment10 DAYS
    Bajaj Finserv6.75% onwardsFor salaried individuals: Up to 0.80%
    For self-employed individuals: Up to 1.20%
    Up to 20 yearsNo foreclosure charges for floating rate loans availed by individuals10 DAYS
    BankInterest RatesProcessing FeesTenureFore ClosureProcess Time
    HDFC Bank6.75% p.a. onwards*0.5% – 1.5%Upto 30 Years0% – 2%4 days
    ICICI Bank6.90% – 7.60%0% – 0.50% (plus Applicable Taxes)Upto 30 yearsZero prepayment charges on floating rate loans7 days
    Axis Bank6.90%Up to 1% or min. Rs. 10,000/-30 Years0 – 2%7 days
    Indus Ind Bank6.70% onwardsUp to 0.5% of loan amount + GSTUp to 30 yearsNo prepayment charges for floating rates10 days
    Standard Chartered7.99% onwardsUp to 1% of the sanctioned amountUp to 25 years 2.5% of the principal outstanding7 days
    Yes Bank8.95% onwards2% or Rs. 10,000 (whichever is higher) + GSTUp to 35 yearsNil for floating rate loans, 2.5% on the principal outstanding for fixed-rate loans10 days
    Kotak Mahindra Bank6.65% – 7.10%Up to 0.50% of the approved amount + GST1 – 20 YearsZero charges on prepayment/foreclosure10 days
    IDFC First7.00% onwardsUp to Rs. 10,000 (additional premium is charged based on risk profile)30 yearsNA8 days
    Citibank6.75% p.a. – 7.44% p.a.Up to Rs. 5,000/-25 Years0 – 2%10 days
    SBI6.90% – 9.70%0.35% – 1% of loan amount1 – 30 YearsNil5 days
    Tata Capital8.50% p.a2.00%One time feeUp to 30 YearsNIL for own-source payments ,2% for non-individuals and balance transfer on fixed-rate7 days
    Fullerton India9.99% – 21.00%Upto 3% of the loan amount30 YearsNIL for individuals on floating rate loan. For non-individual borrowers, a charge of 5%-7% of the prepayment amount. However, there are charges in case of fixed rate of loan.15 days
    Bajaj Finserv6.75% onwardsUp to 1% of the loan amount + GST and other applicable statutory leviesUp to 20 yearsPre-payment and foreclosure allowed without any penalty.15 days
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