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

Situated in southern Tamil Nadu, the city of Madurai is a beautiful blend of history and cultural heritage. Madurai is famous for its breathtaking Meenakshi Amman Temple, resplendent with a grand display of intricate sculptures and stunning carvings. With a captivating mix of deep roots, spiritual importance, and a serene temple atmosphere, Madurai is a must-visit destination that seamlessly preserves ancient traditions in modernity.

Residents (individuals or businesses) of Madurai can utilize the Loan Against Property scheme provided by SMFG India Credit to meet their financial needs. This is a secured loan that requires you to use your property as collateral. With the help of this scheme, you can take care of any urgent financial expenses that you might have.

Features And Benefits Of Loan Against Property In Madurai

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 your home's or commercial assets' worth to meet different financial needs.

Eligibility Criteria For Loan Against Property In Madurai

The qualifying criteria needed to apply for a loan against property in Madurai can vary with different job profiles. Here is a small guide:






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 with a steady income source.


Resident citizens of India

Resident citizens of India

Indian SME

CIBIL score



Steady source of profits over the past two years, audited by a CA.

Documents Required To Apply For A Loan Against Property In Madurai

A list of the essential documents to apply for a loan against property in Madurai is mentioned below:




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

Salary slips and bank statements for the last six months

Salary slips and bank statements for the last six 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 Madurai

As a LAP is a secured loan, lending institutions can extend the benefit of better interest rates because of the lower risk involved. Several factors, including the property type, your income, work status, overdue payments, and the type of mortgage loan help decide the best interest rate.

Here is a summary of the basic applicable rate as well as additional fees. For additional details, you can always contact customer support.



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 Madurai?

Step 1: Try out our loan-against-property EMI calculator to help you predict your monthly EMIs based on different loan amounts, interest rates, and duration options.

Step 2: Simply visit our main website and click on "Apply Now."

Step 3: Then, select the "Loan Against Property" option that best suits your work status – whether you're self-employed, salaried, or an SME.

Step 4: After confirming your contact information with an OTP, you can start filling out the easy-to-use online form.

Step 5: Provide your personal information and employment details, followed by precise financial information.

Step 6: Add the requisite documents in DOC, JPG, PNG, or PDF formats. Once completed, your application will be processed shortly.

Step 7: You will receive a call from the customer support team to help you finalise an LAP product that suits your needs.

Step 8: Quick loan disbursal to your designated bank account after verification of documents.


SMFG India Credit's Loan Against Property (LAP) in Madurai gives you a secure and reliable method to get financial flexibility. This alternative is a dependable way to fully use your real estate for a range of financial goals with streamlined procedures, customised choices, and benefits like affordable interest rates and sizable loan quantities. Apply now and discover more.

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.


How is my loan against property in Madurai eligibility calculated?

Lending institutions in Madurai check for the following whale determining your eligibility for an LAP:

  • Your location,
  • Employment stability,
  • Stability of income,
  • Value of property,
  • Credit score,
  • Any outstanding debts,
  • Credit history.

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

Online applications are,

  • Quick and convenient
  • Avoid time wasted in travelling to the lender’s office.
  • Apply and track from anywhere in the world
  • Attractive interest rates
  • Flexible repayment tenures.
  • Digital documentation and quick verification.

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

To ensure a seamless borrowing experience, it is crucial to maintain a solid CIBIL score of at least 700. It is wise to carefully select trustworthy lenders and try to maintain a low loan-to-value ratio. Additionally, timely payments and proper property valuation can significantly boost your credibility as a borrower. This increases the chances of getting approved for loans with favourable terms. These simple yet impactful actions build a strong financial profile, making it easier to secure loans.

Contact Us


First Floor, N0:-163, Kamarajar Salai, Parameswar Complex, Opp to Siva Maruthi, Madurai South, Madurai - 625 009, 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).

Knowledge Center

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

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