Rs. 50 Lakh Loan

Mortgaging property for meeting personal financial needs has been popular for decades. Such a loan is achieved by borrowing funds after pledging residential or commercial properties as collateral. We at SMFG India Credit, offer this 50 Lakh loan at competitive rates by providing hassle-free documentation, quick disbursal, and a highly transparent process thereby ensuring a seamless experience for you.

Rs. 50 Lakh Loan EMI for 1-5 Years Tenure

The EMI for a Rs 50 lakh loan for 1-year loan tenure at an 9% rate of interest per annum is ₹4,37,257. Similarly, for 2-year tenure is ₹ 2,28,428, 3-year tenure is ₹1,58,999, 4-year tenure is ₹1,24,425 and 5-year tenure is ₹ 1,03,792. You can use the free-to-use online loan EMI calculator to calculate the EMI for other loan tenures.

Disclaimer: These are approximate EMI calculations, actual numbers may vary.

Eligibility for The Loan

You can apply for loan against property as salaried, self-employed or an SME. Please note that if you are looking for a business loan, we do offer unsecured business loans upto INR 50 lakhs without any collateral. Our unsecured business loans are offered at interest rates starting from 13%. To know more, please check our business loans page.

1. Loan Amount:
   Loan amounts equivalent to 60% of the property’s value can be disbursed for an individual pledging a residential property. Similarly, if it is a commercial property, then a maximum of 70% of the property value would be disbursed. Thus for a resident property valued at Rs. 50 lakhs, a maximum loan of Rs 30 lakhs is available. For a commercial property at Rs 50 lakhs, a maximum loan of Rs 35 lakhs is available.
2. Age: 
   Salaried individuals should be in the age bracket of 21 to 60 years and self-employed should be between 25 to 65 years. SMEs should be at least 2 years old. 
3. Credit Score: 
   For individuals, the expected credit score is 700+ and SMEs should show profits for the past 2 years audited by a chartered accountant.  

Documents Required

1. Application Form and a recent photograph
2. Identity proof (passport, voter ID, PAN card, driving license)
3. Address proof (ration card, telephone bill, electricity bill, rental agreement, driving license, passport, bank statement, passbook)
4. Age proof (PAN card, passport)
5. Bank statement or salary slips for the last 6 months
6. Form 16 and Income Tax Returns for the previous 3 years
7. Processing fee payment
8. Property Documents for collateral
9. For self-employed, income statements and other financial documents for the last 2 years attested by a Chartered Accountant
10. For SME, audited financials for the past 2 years 

Once you have these documents in place, you can apply for loan against property offline or online. You can either visit the SMFG India Credit nearest branch or fill up the application form online and upload the requisite documents. On submission, the loan will be processed and the property value will be estimated to fix the loan amount. Once the loan is disbursed, your EMI will start. So next time when you need the 50 lakh loan urgently, you can contact us and we will gladly assist you. 

If you are a customer of SMFG India Credit, and are registered as an MSME, you can also avail loans under the ECLGS scheme.

Check Your Eligibility   Apply For Loan