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

In Aligarh, a vibrant city in Uttar Pradesh, individuals and businesses can access a beneficial financial option known as Loan Against Property (LAP). This avenue allows property owners to leverage their immovable assets—be they residential or commercial properties—without losing ownership.

With streamlined eligibility criteria and documentation processes, obtaining a loan against property in Aligarh is accessible. This financial tool aligns with Aligarh's growth as an educational and commercial center, empowering individuals and enterprises to capitalize on their property holdings. Overall, this facility contributes to the city's economic progress while promoting financial inclusivity for its residents and businesses.

Features And Benefits Of Loan Against Property In Aligarh

Our specialized loan products and skilled team guarantee rapid disbursals, effortless paperwork, and adaptable repayment durations. Here are some of the benefits of applying for a LAP in Aligarh:

  • Avail loans up to 70%* of your property's market value, facilitating easy fulfillment of both personal and business needs.
  • Enjoy competitive interest rates that maximize your benefits, coupled with flexible repayment options tailored to suit your financial plans.
  • Benefit from a high loan-to-value (LTV) ratio for both residential and commercial properties, ensuring the best value to meet any personal or business requirement.
  • Our streamlined mortgage loan services promise efficiency and transparency. Connect with our team via phone or email to explore the finest loan options and rates.
  • Tailored solutions for diverse life stages - our array of Loan Against Property products caters to individual needs.
  • Experience hassle-free documentation and swift disbursal through our user-friendly online application process, ensuring a seamless journey from application to loan acquisition.

Eligibility Criteria For Loan Against Property In Aligarh

Loan Against Property (LAP) eligibility criteria in Aligarh are crucial for accessing this financial option. Here's a breakdown:

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.

Meeting these criteria increases the chances of securing a loan against property in Aligarh, enabling access to significant funds by leveraging property assets for diverse financial needs.

Documents Required To Apply For A Loan Against Property In Aligarh

Here is a list of documents required for applying for a loan against property in Aligarh:

Salaried

Self-employed

SME

Income tax returns for the latest 2 years

Income tax returns for the latest 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.

Documentation pertaining to the property offered as collateral

Documentation pertaining to the property offered as collateral

Documentation pertaining to the property offered as collateral

-

-

A percentage of your cash flow must support the loan amount

For more details, we encourage you to explore our document page or contact our dedicated customer service representatives.

Interest Rates On Loan Against Property in Aligarh

Utilizing SMFG India Credit's Loan Against Property offers substantial financial value complemented by competitive interest rates and adaptable repayment schedules tailored to your needs.

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

Delayed EMI Payment Interest

24% per annum on outstanding balances overdue, calculated on a day-to-day basis.

The lowest interest rate is determined by various factors such as net income, job stability, existing commitments, and the LAP product type. For more details, we highly encourage you to contact our representative.

How To Apply For A Loan Against Property In Aligarh?

Here's a step-by-step application process:

Step 1: Access Application

  • Click the "Apply Now" button located at the top right corner of the website.
  • Select "Loan Against Property" based on your employment status on the subsequent page.

Step 2: Form Submission

  • Accurately fill out the online form with the required personal details.
  • Provide your mobile number and verify the 6-digit OTP received for authentication.

Step 3: Personal and Employment Information

  • Input personal details as prompted in the application form.
  • Proceed to provide specific employment information according to the guidelines.
  • Enter your banking details as required for the loan processing.

Step 4: Document Upload

  • Scan and upload necessary documents as per the checklist provided.
  • Ensure all mandatory documents are submitted accurately to support your application.

Step 5: Submission and Notification

  • Click on the "Submit" button after completing all steps of the application.
  • Receive a prompt notification confirming the submission and informing you about the status of your loan approval.

Conclusion:

In conclusion, Loan Against Property (LAP) stands as a robust financial solution in Aligarh, offering individuals and businesses the means to leverage their property assets for diverse financial needs. With streamlined processes, competitive interest rates, and flexible repayment options, loans against property through SMFG India Credit cater to the city's residents and enterprises, empowering them to unlock the latent value of their real estate holdings.

Apply for Loan Against Property

FAQs

How is my loan against property in Aligarh eligibility calculated?

In Aligarh, your eligibility for a Loan Against Property (LAP) is evaluated based on factors such as property valuation, income, credit history, age, and employment stability. Lenders consider these criteria to determine the loan amount you can secure against your property in Aligarh.

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

Applying for an online Loan Against Property (LAP) in Aligarh offers convenience, quicker processing, easy document submission, competitive rates, and the ability to track the application status remotely. It saves time and provides a hassle-free experience compared to traditional methods.

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

Here's how to get lower interest on LAP:

  • Maintain a high credit score to negotiate better rates.
  • Keep the loan-to-value ratio (LTV) low.
  • Demonstrate stable income sources and employment histories.
  • Compare rates from various Aligarh lenders.
  • Employ negotiation skills to discuss and secure a lower interest rate.

Contact Us

Branch Address 1

Ground Floor, Akashdeep Building, Samad Road, Aligarh, Uttar Pradesh-202001

Branch Address 2

Shakuntala Bhawan, First Floor, Front Portion, Adjoining to New Banke Bihari Hospital Building,  Etah - Chungi, Etah Road, Aligarh, Uttar Pradesh - 202001

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:00 AM to 7:00 PM (except Sundays and public holidays).

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