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

Moradabad, a city steeped in culture and economic dynamism, offers a plethora of financial solutions to its residents, including the option of obtaining a Loan Against Property (LAP). This financial instrument has gained substantial popularity among individuals and businesses seeking monetary support while leveraging their immovable assets in Moradabad. Whether it's for personal reasons like education, medical emergencies, or business expansions, obtaining a loan against property in Moradabad presents a viable avenue for accessing substantial funds while utilizing one's real estate assets as collateral.

With various financial institutions offering competitive rates and flexible terms, acquiring a loan against property in Moradabad has become an attractive choice for those seeking substantial financial aid with the backing of their valuable properties.

Features And Benefits Of Loan Against Property In Moradabad

Here are some advantages to applying for a Loan Against Property in Moradabad through SMFG India Credit:

High Loan Amounts:

Obtain loans of up to 70% of your property's current market value, up to INR 5 crore.

Competitive Interest Rates:

Enjoy competitive interest rates that work in your favor, ensuring that you can maximize the benefits of the loan.

Seamless Documentation:

Digital document submission ensures swift verification and prompt loan disbursement.

Flexible Repayment Options:

Benefit from flexible repayment options tailored to suit your financial capabilities and plans, making the repayment process smoother and more manageable.

Efficient Access to Funds:

We ensure an efficient and accessible process to apply for funds using your property, promising a smooth financial transaction.

By opting for a Loan Against Property in Moradabad, you gain access to significant financial support with favorable terms and efficient services, enabling you to address diverse personal or business needs without undue financial stress.

Eligibility Criteria For Loan Against Property In Moradabad

Eligibility criteria for a loan against property (LAP) in Moradabad, like in most places, can vary based on the specific policies and requirements. However, some common eligibility criteria include:

Factor

Salaried

Self-employed

SME

Age

Between 21 and 60 years.

Between 25 and 65 years.

At least 2 years old.

Nature of work

Working for a multinational corporation, a private enterprise, or the government.

Independent contractor with a reliable source of income.

Geography

Indian citizens are eligible to apply.

Indian citizens are eligible to apply.

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 Moradabad

These are general documents required when applying for a loan against property. Specific requirements might vary depending on the lender's policies and the applicant's profile. For a more extensive document listing, we encourage you to explore our document page.

Salaried

Self-employed

SME

Income tax returns for the latest 2 years

Income tax returns for the latest 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.

Documentation pertaining to the property offered as collateral

Documentation pertaining to the property offered as collateral

Documentation pertaining to the property offered as collateral

   

A percentage of your cash flow must support the loan amount

Interest Rates On Loan Against Property in Moradabad

Interest rates for a loan against property vary depending on several factors. Our array of mortgage loan products caters to diverse needs, accommodating salaried individuals, self-employed individuals, and businesses with customized solutions. Please refer to the table:

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

Delayed EMI Payment Interest

24% per annum on outstanding balances overdue, calculated on a day-to-day basis.

For detailed information on the interest rates, we highly encourage you to contact us, and our representatives will guide you.

How To Apply For A Loan Against Property In Moradabad?

Before moving forward, make use of our Loan Against Property EMI calculator to approximate your monthly dues based on the loan amount, interest rate, and repayment period. Verify that the EMI aligns with your financial capabilities.

Here’s a guide to the application procedure:

Step 1: Select the “Apply Now” option situated at the upper right-hand corner. Opt for "Loan Against Property" on the following page, based on your employment status.

Step 2: Accurately complete the online form, including your mobile number, and verify the 6-digit OTP received.

Step 3: Enter personal particulars, proceed to the subsequent stage, and furnish details regarding your employment. Enter your banking information as prompted.

Step 4: Upload the necessary scanned documents.

Step 5: Hit “Submit.” You will promptly receive a notification regarding the status of your loan approval.

Anticipate communication from our customer care team for additional details during the verification phase.

Conclusion:

In Moradabad, accessing a Loan Against Property provides a financial avenue that empowers individuals to leverage their property assets for various needs. With streamlined application processes and careful consideration of individual financial capacities through EMI estimations, this opportunity presents a viable solution. Whether for business expansion, personal goals, or other financial requirements, SMFG India Credit will always be your trusted partner in this journey.

Apply for Loan Against Property

FAQs

How is my loan against property in Moradabad eligibility calculated?

The market value of the property you offer as collateral plays a significant role in determining the loan amount. Also, your income, employment/business stability, and repayment capacity are essential. Lenders assess your income sources, job/business stability, and debt-to-income ratio to determine if you can repay the loan.

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

Online applications for loans against property have many advantages. Online platforms are accessible 24/7, enabling borrowers to check the status of their application, make inquiries, and access information at any time.

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

To get a lower interest rate on the loan against property, ensure the property you're offering as collateral is well-evaluated and has a higher market value. A higher valued property can potentially lead to a lower interest rate. Remember to thoroughly read and understand the terms and conditions associated with the loan against property before finalizing any agreement.

Contact Us

Address:

2nd Floor, Station Road, Budh Bazar, Near Andhra Bank, Moradabad - 244 001

Note: Call on (Toll free number) 1800 103 6001 for more information.Timings: 9:00 AM to 7:00 PM (except Sundays and public holidays).

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