Fullerton India Credit Co. Ltd. is Now SMFG India Credit Co. Ltd.

Located in Gujarat, the bustling metropolis of Ahmedabad boasts a dynamic culture and a significant past. It stands as a fusion of age-old traditions and contemporary developments. It boasts landmarks such as the Sabarmati Ashram and the amazing Adalaj Stepwell. Celebrated for its vibrant festivities, thriving textile industry, and delectable street food, Ahmedabad is a melting pot of diverse customs, drawing in history buffs and food enthusiasts alike.

Are you ready to turn your property into financial support? SMFG India Credit is here to assist you with a hassle-free Loan Against Property process!

Features And Benefits Of Loan Against Property In Ahmedabad

Streamlined Application Process

Trust At SMFG India Credit, we uphold your trust and create a streamlined LAP application process to ensure a safe exchange of information on our platform.

Tailored Financial Solutions

Our LAP products are crafted to align with your unique financial needs.

Effortless Documentation Process

Upload digital copies of your documents for prompt verification and loan disbursal.

Significant Loan Capacity

Get up to 70% of your property's market value to cater to your financial necessities.

Competitive Interest Rates

Our favourable loan terms are a product of competitive interest rates and flexible repayment options.

Optimizing Property Value

Leverage our high Loan-to-Value (LTV) approach to maximize the potential of your properties.

Efficient Fund Access

Our LAP program in Ahmedabad offers a seamless and accessible financial process to obtain funds using your property efficiently.

High Loan-to-Value (LTV)

A high LTV will ensure the best value against your residential or commercial properties, be it for business or personal needs.

Eligibility Criteria For Loan Against Property In Ahmedabad

Here is a list of eligibility criteria for self-employed, salaried, and SME applicants:

Factor

Salaried

Self-employed

SME

Age

Between 21 and 60 years.

Between 25 and 65 years.

At least 2 years old.

Nature of work

Working for a multinational corporation, a private enterprise, or the government.

Independent contractor with a reliable source of income.

Geography

Indian citizens are eligible to apply.

Indian citizens are eligible to apply.

Indian SME

CIBIL score

700+

700+

Steady source of profits over the past two years, audited by a CA.

Documents Required To Apply For A Loan Against Property In Ahmedabad

Listed below is the mandatory paperwork for applying for a loan against property in Ahmedabad with SMFG India Credit. Remember to keep both originals and copies of these documents ready to avoid any last-minute delays.

Salaried

Self-employed

SME

IT returns for the last 2 years

IT returns for the last 2 years

KYC documents

KYC documents

KYC documents

Form 16

Form 16

Form 16

Bank statements for the last 6 months and income statements

Bank statements for the last 6 months and salary slips

Bank statements for the last 6 months

ITR for the last two years with a summary of audited income.

Records related to the property that was put up for collateral

Records related to the property that was put up for collateral

Records related to the property that was put up for collateral

-

-

A percentage of your cash flow must support the loan amount.

Interest Rates On Loan Against Property in Ahmedabad

Following is a detailed breakdown of the interest rates for a loan against property in Ahmedabad. Factors determining the interest rate for a loan against property (LAP) include:

  • Type of LAP.
  • Your income.
  • Your employment status.
  • Existing financial commitment.

Aspect

Details

Loan Amount

Up to INR 5 crore

Loan Tenure

Up to 180 months

Lowest EMI Per Month

It starts at INR 5,071 for a 180-month period

Cheque Dishonoured Charges

INR 300

Proceeding Fees

Up to 3% of the Loan Amount

Customer Type

Salaried / Self-Employed / SMEs

Late Payment Charges

2% plus GST charged monthly (24% per annum) on the overdue amount calculated on day-to-day basis.

How To Apply For A Loan Against Property In Ahmedabad?

Here's a quick guide to simplifying your LAP application process. The listed steps are general guidelines and may vary with individual circumstances.

Step 1: To begin, head over to the official web portal and click on the "Apply Now" button.

Step 2: Next, select the option that best reflects your employment status, whether it be salaried, self-employed, or a small business owner. 

Step 3: Once that's done, you can start filling out the online application form. First, provide your contact information and verify the OTP that you will receive. 

Step 4: Then, add all the necessary personal details and click "Next" to move on to the next step. 

Step 5: In the following step, make sure to accurately fill in your employment status information. 

Step 6: Afterwards, enter your banking details as requested, ensuring their accuracy. 

Step 7: To complete your application, upload digital copies of important documents in the required format (PDF, JPEG, PNG, or DOC). 

Step 8: When everything is ready, hit the "Submit" button. Almost immediately, you will receive an update on your application.

Conclusion:

A loan against property can serve different financial needs. It is a safe and secure means of leveraging your real-estate assets for access to urgent funds. We understand that financial needs can be overwhelming. Our team of experts at SMFG India Credit provides robust assistance to help you secure a hassle-free loan against property. With competitive rates of interest, we aim to personalise your LAP without stressing your finances. Get in touch with us now and let us help you unlock the true potential of your property to achieve your goals.

Apply for Loan Against Property

* 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.

FAQs

How is my loan against property in Ahmedabad eligibility calculated?

The eligibility to avail of a loan against property (LAP) in Ahmedabad is decided based on:

  • LAP type,
  • Stability of income and employment.
  • CIBIL/Credit score (700 and above).
  • Property valuation.
  • Debt-to-income ratio.

What are the advantages of applying for an online loan against property in Ahmedabad?

With more and more customers preferring the Internet, applying for a LAP online is beneficial in several ways:

  • Loan up to 70% of property value.
  • Time-saving application process.
  • Accessible 24/7.
  • Paperless application method.
  • Fast-track approvals.
  • Repayment flexibility.
  • Transparent transactions.
  • Assured confidentiality.
  • Secure transaction environment.
  • Efficient customer support is offered.

How to get a lower interest rate on my loan against property in Ahmedabad?

It takes simple steps to boost your eligibility for an LAP in Ahmedabad. Maintain a good CIBIL score (at least 700), choose trustworthy lenders, decrease your debt-to-income ratio, adopt property valuation services, and always ensure healthy credit behaviour.

Contact Us

Branch Address 1

A-302, A-303, A-304, A-305, A-306 & B-306, Third Floor, Amrapali Lakeview, Opp. Vastrapur Lake, Vastrapur, Ahmedabad, Gujarat 380015

Branch Address 2

First Floor, FF- 1 Zodiac Avenue, Opp. Municipal Commissioner's Bunglows, Nr. Law Garden, Ellisbridge, Ahmedabad -380006, Gujarat

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:30 AM to 6:30 PM (except 1st Saturday and Sundays and public holidays).

Knowledge Center

Here are some articles which could help you understand us and our products better.


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