With our Loan Against Property for business, we make sure that you have a stress-free and convenient loan application process until you get your funds in hand.
The repayment period will commence in the month subsequent to the month in which the loan was disbursed. To know more about our flexible loan offerings, speak to a customer representative online or at the nearest SMFG India Credit branch today.
* Please note that loans are disbursed at the sole discretion of SMFG India Credit. Final approval, loan terms and disbursal process will be subject to SMFG India Credit's policy at the time of loan application. If you are an existing customer and wish to foreclose your loan, please note that foreclosure terms and charges will be applicable as per our policy at the time of loan foreclosure.
SMEs must be at least two years old, Indian in origin, and exhibit consistent profits for the past two years (audited by a CA), to qualify for a loan against property.
SMEs can secure a Loan-to-Value (LTV) ratio of up to 60-70%* on residential and commercial properties with a loan amount of up to INR 5 crore*.
Interest rates typically range between 9-24% for loans against property for SMEs.
Essential documents include an application form with a photograph, proof of identity, address, and age, last 6 months' bank statements, salary slips, Form 16, last 3 years' income tax returns, processing fee cheque, and collateral property documentation.
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