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

Due to its central location and the National Capital Territory of India, Delhi enjoys many benefits. One such benefit is extensive availability of financial services to its residents and business establishments.

Being a highly commercialised region, SMFG India Credit offers  a wide range of services including loans at attractive interest rates. Also, our Loan against property in Delhi is widely available on both residential and commercial property at affordable interest rates and higher LTV. 

Features of Loan Against Property in Delhi

Also known as mortgage loan, loan against property can be taken for varied purposes like financing business operations and expansion, child education, managing wedding expenses, or even handling unforeseen expenses like medical emergencies.

Following are some of the features of SMFG India Credit’s loan against property in Delhi:

  • High Loan-to-value Ratio: You can get a higher loan amount against your mortgaged property. The LTV we offer can go up to 60-70% of the current market value of the property. 
  • Affordable Rate of Interest: You can get mortgage loans at attractive interest rates depending on your eligibility. 
  • Longer Loan Tenure: The maximum tenure of loan against property is 15 years, which helps you to choose a loan tenure as per your repayment capabilities. 
  • Multiple Types of Collateral Accepted: The loan can be taken against both immovable residential properties and commercial properties.  
  • Highly Flexible Loan Product: At SMFG India Credit, we understand that every individual has a distinct financial need. Thus, our loan against property products can be personalized as per the needs of the borrower. 

Benefits of Loan Against Property in Delhi

There are many benefits associated with Loan against property products that let borrowers meet all their financial obligations smoothly. 

  • Less Scrutiny of Borrower’s Credit Profile: As the loan against property falls under secured loan type, lenders usually give less importance to credit score. A person with an average credit score (between 650-699) can also get the loan conveniently.
  • Longer Repayment Tenure: Compared to a personal loan, which has maximum repayment tenure of 7 years, loan against property has 15 years of repayment tenure. Having longer loan repayment tenure helps you to lower your EMI and manage your finances better. You can also use a loan against property EMI calculator to fix the ideal loan tenure as per your repayment capabilities.  
  • Continuous Ownership of the Property: The ownership or title of the property remains with the borrower during the whole tenure of the loan. It only involves, “transfer of interest” to the lender, who holds the right to sell the property in an event of non-payment of the loan amount. 

Eligibility Criteria for Loan Against Property

SMFG India Credit offered to both salaried, self-employed as well as SMEs. The eligibility criteria for loan against property under this facility are:

  • Must be an Indian resident or Indian SME
  • Must have a steady flow of income
  • CIBIL Score above 750

Documents Required for Obtaining Loan Against Property

The loan against property documents are:

  • Filled-in application form with a recent colour photograph
  • PAN Card
  • Identity Proof (Voter ID, Aadhaar, Passport, Driving License)
  • Address Proof (Telephone Bill, Electricity Bill, Ration Card, Rental Agreement, Bank Statement)
  • Income Tax Returns of the last 3 years
  • last 3 months salary slips / Form 16 (for salaried)
  • Last 6 months bank statement
  • Processing fee cheque
  • Original documents and title deed of the property offered as collateral



What is the maximum loan available in loan against property?

The maximum loan available amounts to up to 70%* of your property's market value, up to INR 5 crore*.

Is loan against property taxable?

Yes, a loan against property is taxable. But salaried individuals availing of LAP can get tax deductions of up to INR 2 lakh on the interest paid in a particular financial year under Section 24 (B).

How are the loans against property interest rates calculated?

The interest charged on a loan against property depends on several factors, like the nature of the work, the type of property, the current market value, available documentation, income, and credit history.

How to Apply for Loan Against Property In 5 Easy Steps?

The application process:

  1. Click on the “Apply Now” button on SMFG India Credit's official website. Select “Loan Against Property”.
  2. Select whether you are salaried, self-employed or an SME.
  3. Fill the online form. Enter your mobile number and the OTP. Enter your personal, employment, and bank details as requested on the online form page. Click “Next”.
  4. Upload scanned copies of your documents. Then, you will be informed if you are eligible.
  5. Our customer care representative will contact you for the next steps.

Knowledge Center

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

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