The quaint city of Nashik, situated in Maharashtra, India, boasts a rich blend of history, spirituality, and breathtaking landscapes. This charming destination is best known for its spectacular gathering, the Kumbh Mela, which takes place every 12 years on the banks of the Godavari River, attracting millions of devoted Hindus. But that's not all - Nashik also boasts ancient treasures, such as the Trimbakeshwar Temple dedicated to Lord Shiva and the Pandavleni Caves, featuring intricate rock architecture. In addition, the city has earned recognition as India's wine hub, offering tasteful wine tastings and picturesque countryside tours.
If you are looking for a reliable and convenient way to fulfil your financial needs in Nashik, a loan against property (LAP) can be helpful. Read on to learn more about the benefits, eligibility criteria, documents required, and more to simplify your LAP application process.
With SMFG India Credit, you can enjoy a variety of benefits while applying for a Loan Against Property in Nashik:
Our mortgage services ensure swift and transparent processing, with expert guidance available via phone or email for optimal loan choices and competitive rates.
Various loan-against-property options cater to individual needs across different life stages, ensuring a personalized fit.
Our seamless online application process guarantees a hassle-free journey from application to receiving funds.
Obtain loans up to 5 crores* (70% of the property's market value) for business or personal needs, leveraging our mortgage products.
Benefit from the best interest rates in the market and flexible repayment tenures tailored to your financial requirements.
Avail the best value against your residential or commercial properties to efficiently fulfil different business or personal needs.
Fulfilling specific eligibility criteria is crucial to qualifying for a Loan Against Property in Nashik.
|
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. |
Here are some of the documents required to apply for a Loan Against Property:
|
Type of Document |
Salaried |
Self-Employed / SMEs |
|
PAN Card |
|
|
|
Proof of Identity And Proof of Address (any one) |
|
|
|
Age Proof (any one) |
|
|
|
Bank Statements |
|
|
|
Income Documents (with CA certification wherever applicable) |
|
|
|
Property Documents |
|
|
|
Other Essential Documents |
|
|
Please note that in case of co-applicants, basic documents such as PAN, KYC documents, etc., will also be required.
The above list is indicative. Depending on the specific loan product, your profile, and our policy at the time of loan application, additional documents may be requested.
Note:
The interest charged on a loan against property depends on several factors. These include:
|
Factor |
Rates/Charges |
|
Interest Rate |
SMFG India Credit Retail Prime Lending Rate (RPLR) is 20.80% w.e.f 1st April, 2024. 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 |
1% of the loan amount sanctioned (SME loans/Loan Against Property & LRD) |
|
Charges for switching of loans from floating to fixed rate and vice versa |
2% of the outstanding loan amount |
|
Processing Fees |
Up to 3% of the loan amount |
|
Loan Cancellation Charges (Loan Cancelled Before 1st EMI) |
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 |
INR 500/- per instance shall also be payable for every instance of dishonour of Cheque/ECS/ACH Direct Debit. |
The interest rates on mortgage loans offered to borrowers by SMFG India Credit depend on a number of factors, including SMFG India Credit’s policy at the time of loan application. To know more, please visit our loan against property interest rates page.
Here's a quick guide to simplifying your LAP application process:
Step 1: Go to the official portal and click the "Apply Now" button.
Step 2: Choose the "Loan Against Property" option compatible with your employment status: salaried, self-employed, or SME.
Step 3: Start completing the online form after providing your contact details and verifying the received OTP.
Step 4: Add personal details as requested in the form and proceed to the next step by clicking "Next."
Step 5: After this, add details pertaining to your employment status.
Step 6: Provide your banking details as requested. Remember to ensure accuracy at all times.
Step 7: Now, upload digital copies of essential documents in the prescribed format (PDF/JPEG/PNG/DOC). Click "Submit" to finalize your application.
Step 8: You will receive an instant notification after submitting your application form and documents.
Step 9: A customer care executive will follow up to gather additional information during the application process and assist you.
Please be aware that the listed steps are general guidelines. Depending on your employment type, the loan type, and our current policies, additional documents may be requested for your loan against your property application.
We understand that financial needs can be overwhelming. That's why we at SMFG India Credit are here to help you explore the hidden financial potential of your property. Our team of experts provides easy and efficient assistance to help you secure a hassle-free loan against property. We want to make sure that you take advantage of the opportunity to leverage the value of your real estate holdings. At SMFG India Credit, we're committed to helping you achieve your financial goals through personalised solutions that work best for you. So, get in touch with us now and let us help you unlock the true potential of your property to achieve your goals.
* 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.
Several factors, such as the LAP type, income, credit score, employment history, property valuation, and debt-to-income history, are used by lending institutions to determine your eligibility for a loan against property.
Applying online for a loan against property in Nashik offers you several benefits, such as:
You can use these tips to ensure the availability of a personal loan at low-interest rates:
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