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

An industrial city in Tamil Nadu, Hosur is home to several sectors such as automobiles, manufacturing, granite processing, and minerals. With a high influx of tech and EV-related industries, Hosur is a popular investment destination. Located a mere 40 kilometres from Bengaluru, the city is set to soon become a major economic zone with a new international airport. A mortgage loan in Hosur or a loan against property can be a strategic move to monetise on the booming economy by capitalising on your existing property.

Let us see how you can benefit from SMFG India Credit’s comprehensive solutions for a loan against property in Hosur.

Loan Against Property in Hosur: Features and Benefits

The following are some of the many features and benefits that make us one of the best loan against property providers in Hosur:

  • Attractive Loan Terms: We offer some of the most reasonable Hosur loans against property interest rates in the market. Further, we offer a flexible repayment tenure between 12-180 months so that you can choose the option that best suits your financial situation.
  • High Loan-to-Value Ratio: We offer a high loan-to-value ratio to provide you with the optimal value for your property.
  • Substantial Borrowing Capacity: Loan amounts of up to 70%* of the property value or up to INR 5 crores* enable you to finance your requirements with ease.
  • Transparent Process: We provide clear information and communication about the terms of the loan and have no hidden fees to ensure complete transparency.
  • Easy Application Process: From application to disbursal, our LAP loan in Hosur process is designed for your convenience. Apply online from the comfort of your home without the hassle of heavy paperwork.

Eligibility Criteria for Loan Against Property in Hosur

At SMFG India Credit, the LAP eligibility requirements are straightforward and easy to meet for accessible financing:

Criterion

Salaried

Self-employed

SMEs

Age

Between 21 and 60 years.

Between 25 and 65 years.

At least 2 years old.

Nature of work

A salaried employee in an MNC, a private company or the public sector

Self-employed individual with a steady source of income

-

Location

Resident citizen of India

Resident citizen of India

Indian SME

CIBIL score

700+

700+

Financials should show a steady source of profits over the past 2 years and be audited by a chartered accountant.

*Please note that this is only the basic Hosur loan against property eligibility. The final eligibility will depend on several factors including SMFG India Credit’s policy at the time of loan application.

Documents Required to Apply for a Loan Against Property in Hosur

The Hosur loan against property document requirements are as follows:

Type of Document

Salaried

Self-employed

SMEs

Basic Documents

  • Application form with a recent photograph
  • Processing fee cheque
  • Application form with a recent photograph
  • Processing fee cheque
  • Application form with a recent photograph
  • Processing fee cheque

Proof of Identity

  • Passport copy
  • Voter ID card
  • Driving license
  • PAN card
  • Passport copy
  • Voter ID card
  • Driving license
  • PAN card
  • Passport copy
  • Voter ID card
  • Driving license
  • PAN card

Proof of Address

  • Ration card
  • Telephone bill
  • Electricity bill
  • Rental agreement
  • Passport copy
  • Bank passbook/statement
  • Driving license
  • Ration card
  • Telephone bill
  • Electricity bill
  • Rental agreement
  • Passport copy
  • Bank passbook/statement
  • Driving license
  • Ration card
  • Telephone bill
  • Electricity bill
  • Rental agreement
  • Passport copy
  • Bank passbook/statement
  • Driving license

Proof of Age

  • PAN card
  • Passport copy
  • Any other certificate from a statutory authority
  • PAN card
  • Passport copy
  • Any other certificate from a statutory authority
  • PAN card
  • Passport copy
  • Any other certificate from a statutory authority

Proof of Income

  • Bank statements or salary slips for the last 6 months
  • Form 16
  • Income tax returns for the last 3 years
  • Bank statements or salary slips for the last 6 months
  • Form 16
  • Income tax returns for the last 3 years
  • Bank statements or salary slips for the last 6 months
  • Form 16
  • Income tax returns for the last 3 years

Property Documents

  • Documentation pertaining to the property offered as collateral
  • Documentation pertaining to the property offered as collateral
  • Documentation pertaining to the property offered as collateral

*Please note that additional documents may be requested depending upon your individual profile SMFG India Credit’s policy at the time of application.

Interest Rates on Loan Against Property in Hosur

Interest rates depend on several factors such as the type of LAP product, your age, income, employment status (Salaried/self-employed/SME), credit history, and your current financial obligations.

The table below outlines other fees and charges you may come across for an SMFG India Credit property loan in Hosur:

Factor

Rates/Charges

Interest Rate

Lowest Interest Rate (depending on several factors including net income, employment or business stability, existing monthly obligations, type of LAP product, etc.)

Rate of Interest Conversion Fee

An amount not exceeding 1% of the loan amount sanctioned (SME loans/Loan Against Property & LRD)

Processing Fees

Up to 3% of the loan amount

Loan Cancellation Charges (Loan Cancelled Before 1st EMI)

An amount not exceeding INR 5,000/- if the loan is cancelled at the request of the Borrower after disbursement of the Loan, but before the encashment of the Loan disbursal cheque. If cancellation of the Loan is requested after encashment of the Loan amount, Prepayment conditions as specified herein shall apply.

Cheque/ECS/ACH Direct Debit Dishonour Charges
(Note: The Cheque/ECS/ACH Direct Debit Dishonour Charges as referred to above are not compensatory and/or to be construed as any form of consideration towards the act of dishonour and in no ways should the same be construed as fees recovered under this facility. It is abundantly clarified that SMFG India Credit does not tolerate dishonour of instruments and/or deposit of an invalid, fake, or unworthy instrument issued towards meeting payment obligations under this facility and any Charges collected thereof are not intended to compound such acts of dishonour. Notwithstanding any Charges collected hereof SMFG India Credit reserves its right to invoke the appropriate civil and criminal laws)

An amount not exceeding INR 300/- per instance shall also be payable for every instance of dishonour of Cheque/ECS/ACH Direct Debit.

How to Apply For a Loan Against Property in Hosur

The loan against property process in Hosur becomes easier with SMFG India Credit’s simple guidelines:

  1. Navigate to our loan application portal to get started and click on ‘Loan Against Property’.
  2. Select the employment status that best describes you from the available options – salaried, self-employed, or an SME.
  3. The next step is to fill out the application form. Update your contact number, and you will be prompted to validate it by an OTP sent via text.
  4. Fill in your personal information, bank account details, and employment information in the next step.
  5. Provide scanned copies of your documents in a .pdf, .jpeg, .png, or .doc format to complete your application
  6. After following the above steps, click the ‘Submit’ button. You will shortly receive an update on your application and loan approval status.
  7. You will be contacted by our representative for any additional details while we review your application.
  8. After all the checks are complete, the loan can be sanctioned. Sign the loan agreement to initiate the final loan approval and funds disbursal to your account.

Conclusion

As Hosur continues to thrive as a major industrial and economic hub, property owners have a unique opportunity to capitalise on the city’s rapid growth. Leveraging your property through a loan against property in Hosur can be a strategic financial move whether you are a salaried individual, a business owner, or an SME.

SMFG India Credit offers tailored LAP solutions with competitive interest rates, high loan-to-value ratios, and flexible repayment options to meet your financial goals. Take advantage of our customised financial solutions and apply for a mortgage loan in Hosur today.

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 Hosur eligibility calculated?

Factors such as your employment status, income stability, location, property valuation, and previous credit history are involved in determining your eligibility for mortgage loan in Hosur.

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

Online applications are a quick way of applying from anywhere as opposed to visiting a physical office and filling out paperwork. As the process involves minimal documentation and quicker approvals (subject to eligibility and documents), it makes for a smooth experience.

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

Some ways to get a low-interest rate loan against property in Hosur are:

  • A strong CIBIL score
  • Selecting reputed and reliable lenders
  • Opting for a larger down payment
  • Ensuring timely repayments on EMIs

How much loan can I get against my property in Hosur?

For a LAP in Hosur at SMFG India Credit, you can borrow up to INR 5 crores* or up to 70%* of your property’s current market value.

Contact Us

Address:

Third Floor, No:-28/29, GKV Tower, Opp. Sub Collector Office, Denkanikottai Road, Shanthi Nagar, Hosur - 635109, Tamil Nadu

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).

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