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Lucknow, the capital city of Uttar Pradesh, epitomizes the elegance of the Nawabi culture. Known for its architectural marvels like the Bara Imambara and the Rumi Darwaza, Lucknow offers a glimpse into its royal past. The city is renowned for its delectable cuisine, especially Awadhi dishes like kebabs and biryanis. With its intricate embroidery work, bustling bazaars, and traditional arts, Lucknow retains its charm as a city steeped in history and cultural richness.
Using the Loan Against Property Lucknow residents (individuals or businesses) can avail of the necessary finances. Being a secured loan, getting a LAP from SMFG India Credit can help you take care of urgent financial expenses by using your property as collateral.
Features And Benefits Of Loan Against Property In Lucknow
Streamlined and transparent:
Use our mortgage financing for a quick and easy transaction. Our customer care staff can provide specialised lending alternatives and reasonable rates by phone or email.
Personalised Options:
Our Loan Against Property products are tailored to meet various demands and requirements.
Effortless Process:
Our user-friendly web application allows for simple documentation and quick fund disbursement, assuring a smooth end-to-end process.
Significant Loan Limits:
With our mortgage solutions, you can borrow up to 5 crores* (70% of the property's market value) for a variety of business or personal purposes.
Competitive Interest Rates:
Take advantage of attractive interest rates and flexible repayment options without straining your wallet.
High Loan-to-worth (LTV):
Maximise the worth of your home or commercial assets to meet different financial needs.
Eligibility Criteria For Loan Against Property In Lucknow
Lucknow applicants must make a note of the qualifying criteria needed to apply for a loan against property in Lucknow. These may vary with different job profiles:
|
Factor |
Salaried |
Self-employed |
SME |
|
Age |
Between 21 and 60 years. |
Between 25 and 65 years. |
At least 2 years old. |
|
Nature of work |
Works in an MNC, a private company, or the public sector |
Self-employed individual with a steady source of income |
– |
|
Geography |
Resident citizen of India |
Resident citizen of India |
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 Lucknow
Here is a summary of the paperwork needed to apply for a loan against property in Lucknow:
|
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 |
Interest Rates On Loan Against Property in Lucknow
The basic applicable interest rate as well as additional fees are listed below. Don't hesitate to get in touch with our customer support for additional details.
|
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 Lucknow?
Step 1: Predict monthly EMIs based on various loan amounts, interest rates, and duration options by using our loan against property EMI calculator.
Step 2: Navigate to our main website and click "Apply Now."
Step 3: Select the "Loan Against Property" option that corresponds with your work status: self-employed, salaried, or SME.
Step 4: After confirming your contact information with an OTP, start filling out the online form.
Step 5: Click "Next" after providing the requested personal information.
Step 6: Fill out the form with the details of your employment, as asked.
Step 7: Supply precise financial information as needed.
Step 8: Digitally upload the required documents in the DOC, JPG, PNG, or PDF formats.
Step 9: After completing your application, click "Submit." A notification will be sent to you immediately upon submission.
Step 10: Our customer service team will contact you again for more information during the application evaluation process.
Conclusion:
Choosing a Loan Against Property (LAP) in Lucknow with SMFG India Credit offers you an advantageous route to financial flexibility. This option is a reliable means of unleashing your property's full potential for various financial objectives through efficient processes, tailor-made options, and attractive perks such as competitive interest rates and generous loan amounts.
* 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 Lucknow eligibility calculated?
You can use the online loan eligibility guide to help you determine your suitability for a loan against property. Additionally, factors such as your location, employment stability, income, property valuation, credit score, outstanding debts, and previous credit behaviour, are used to gauge your eligibility.
What are the advantages of applying for an online loan against property in Lucknow?
Online applications are quick and convenient compared to visiting the lender’s office. You can apply from anywhere in the world and enjoy the benefits of attractive interest rates and flexible repayment tenures. Additionally, minimal documentation and quick verification make the loan disbursal all the easier.
How to get a lower interest rate on my loan against property in Lucknow?
Here are some tactics you can consider to secure a lower interest rate on your LAP:
- Sustain a strong CIBIL score (at least 700).
- Select reliable lenders.
- Lower your loan-to-value ratio.
- Utilize property valuation services for added credibility.
- Maintain timely payment of debts to avoid late accounts.
Contact Us
Address:
First Floor, Hindustan Times House, 25, Ashok Marg, Lucknow, Uttar Pradesh - 226001
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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