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

The historic beauty of India, also known as the ‘Pearl City’ has become a powerhouse in all aspects today. It has evolved into an IT hub and is also known as one of the easiest cities to do business in the country. While living in Hyderabad, you may require funds for a variety of purposes including starting a business, expanding your business, pursuing higher education, medical emergencies or for a wedding in the family etc. In such cases, you may quickly require a large amount.

Therefore, if you require funds urgently for any purpose and own a commercial or residential property, then you can explore a loan against property in Hyderabad being offered by SMFG India Credit. 

SMFG India Credit offers the following features and benefits of loan against property in Hyderabad:

1) Avail of a Loan upto Rs 5 Crores With Attractive EMIs

SMFG India Credit loan against property can go up to Rs 5 crores. The loan amount can go up to 70% of your property value. The interest rate on loan against property begins from 9% onwards. You can also opt for a repayment tenure upto 15 years. Thus, you can manage your EMIs comfortably.

2) Minimal Documentation

For those who are salaried, the documents are required for loan against property include application form with a recent photograph, proof of identity (PAN card, Aadhar card, Driver’s Licence), proof of address (Aadhar card, Passport, Bank Passbook, Electricity bill, Ration card), bank statements, Form 16, Income tax returns for the last three years and documents related to the property being pledged as collateral.

For those who are self-employed, additional documents would be required. If you are self-employed, you will need to provide income and other relevant financial statements for the last two years. Copies of these statements would have to be attested by a CA. If you are running a SME, then audited financial statements for the last two years would be required.

3) Online Processing

SMFG India Credit loan against property in Hyderabad can be completed online seamlessly in a few steps:

  1. Click on the “Apply Now” button
  2. Select “Loan Against Property”.
  3. Fill up the application form with the required details regarding  personal information,, employment, income and bank account details.
  4. Upload your documents as required You will then receive a confirmation from SMFG India Credit, and a customer care representative will get in touch with you to assist further. Alternatively, you can walk into one of our SMFG India Credit nearest branches to your home or office. 

4) Eligibility Criteria for Loan Against Property

You are eligible for loan against property in Hyderabad as a salaried resident and self-employed resident both. Here are a few of the basic criteria:

  • You should be between 21 years and 60 years of age
  • You need to own the residential or commercial property to be eligible for loan against property.
  • Good credit history and credit score.

Lastly, some other factors like income, fixed expenses, current credit history, etc are considered in calculating the eligibility.

4) EMI Calculator

SMFG India Credit provides a loan against property EMI calculator. It helps you plan for your EMIs and hence your monthly expenses. You only need to enter repayment tenure, interest rate, and loan amount. The maximum repayment tenure is 15 years (180 months). The interest rate is minimal.

Therefore, instead of selling your property to raise funds, you may want to take a loan against it. As a loan against property is a secured loan, you can get a larger loan amount and a longer tenure, which is perfect if you need large funds.

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

What types of properties can be used as collateral?

The different types of properties that can be used as collateral for a loan against property are residential, industrial, and commercial.

How much loan can I get against my property?

SMFG India Credit loan against property can go up to INR 5 crore*. The loan amount can go up to 70%* of your property value.

What is the tenure of a LAP?

You can also opt for a repayment tenure of up to 15 years*.

How is the interest rate determined?

Several factors, including the nature of work, type of property, the current market value, available documentation, income, and credit history, determine the interest charged on a loan against property.

Can self-employed individuals apply for a Loan Against Property?

Yes, self-employed residents can apply for a loan against property in Hyderabad.

What is the processing time for a LAP in Hyderabad?

SMFG India Credit acknowledges the significance of ensuring prompt fund availability. Our goal is to offer a quick, smooth, and user-friendly experience for individuals applying for loans.

Are there any tax benefits for LAP borrowers?

Salaried individuals who opt for LAP can benefit from tax deductions of up to INR 2 lakh on the interest paid during a specific financial year. This falls under Section 24 (B) of the tax regulations.

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Contact Us

Branch Address 1

Fourth Floor, Brij Tarang, No:-6-3-1192/1-6 Kundan Bagh, Begumpet, Telangana - 500 016

Branch Address 2

6th Floor, Block-III, White House, 6-3-1192/1/1, Kundan Bagh, Begumpet, Hyderabad - 500016

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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