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

Are you located in Noida and are looking for funds to finance big-ticket expenses? Property owners can rejoice since the hidden value of your property can help you avail of the funds required to give wings to your dreams.

Why Should I Opt for Loan Against Property in Noida

We at SMFG India Credit are glad to partner with you in helping you achieve your dreams. We haven’t laid down barriers on the reasons for which the funds can be used with the exception that the funds cannot be used for any illegitimate purpose. If you are a salaried, self-employed professional or SME considering a loan to finance your expenses, this is why a loan against property in Noida might be an ideal option:

  • Pledge Commercial/Residential Properties: Obtain finance of up to 5 crores or up to 65%* of the market value of your residential/commercial property and finance your requirements. 
  • Easy Approval: We have simplified the loan application process for the convenience of our customers.  You can apply online, and our customer service representatives will get in touch with you to understand your requirements.
  • Reasonable Rates of Interest: Avail of loans against property at reasonable interest rates.
  • Customised Solutions and Convenient Repayment Tenure: We customise our loan products to cater to different requirements that may arise at different stages of your life. We offer flexible repayment tenures ranging between 12 - 180 months so that you can choose an EMI which best fits within your budget. 

Eligibility Criteria for Loan Against Property in Noida

Our basic eligibility criteria are simple and straightforward to ensure a smooth customer experience. The basic criteria are as described below:

  • Salaried Professionals: For Salaried professionals aged between 21 to 60 years of age employed in public, private companies or employees of Multinational Companies and are resident citizens of India are eligible to apply. The applicants should possess a CIBIL score of 700 or above to be able to apply for a loan against property in Noida.
  • Self-Employed Professionals: For professionals between the age of 25 to 65 years, with a regular stream of income and a credit score of 700 and above who are resident citizens of India are eligible to apply.
  • SME’s: Indian SMEs that are at least two years old and making a steady stream of profit over at least two years, audited by a Chartered Accountant are eligible to apply.

Please note that other factors such as the nature and value of your property, your monthly income, existing obligations, credit history and other factors including SMFG India Credit’s policy at the time of loan approval will also be considered to determine mortgage loan eligibility. In case of multiple applicants, the same criteria for all applicants will be considered.

Documents Required for Loan Against Property in Noida

The documents required for loan against property to be submitted to evaluate your eligibility while applying:

Salaried Professionals: Salaried professionals desirous of applying for a loan are required to furnish a copy of their Income tax returns of the previous two years, KYC documents, bank statements and salary slips of the previous six months in addition to the documents of the property offered as collateral while applying for the loan.

Self-Employed Persons: Self-employed persons are required to submit a copy of their Income Tax returns of the previous two years, KYC documents, bank statements of the past 6 months, and income statements  in addition to the documents of the property offered as collateral while applying for a loan against property in Noida.

SME’s: SMEs are required to submit KYC documents, a copy of Form 16, bank statements for the previous six months accompanied with Income tax returns for the previous two years along with the summary of audited financial statements, and the documents of the property offered as a loan. 

If you are considering opting for a loan against property, get in touch with us through phone, email or walk into the nearest SMFG India Credit branch to know more.

*Terms and conditions apply.

Apply for Loan Against Property Calculate Your EMI

* 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 is the maximum loan amount one can get under LAP in Noida?

You can obtain finance of up to INR 5 crore* or up to 65%* of the market value of your residential/commercial property in Noida.

How long does it take to get a LAP sanctioned in Noida?

Because of the extensive verification process involved, it can take up to 15 to 30 days* to receive the funds.

What is the processing time for a LAP in Noida?

We have simplified the loan application process for the convenience of our customers. After your application, our customer service representatives will contact you to understand your requirements and disburse the loan as soon as possible.

Are there any tax benefits for LAP Noida?

Yes, salaried individuals in Noida availing of LAP can get tax deductions of up to INR 2 lakh on the interest paid on LAP in a particular financial year under Section 24 (B).

Can I avail LAP with any existing loans?

The property against which you need a loan must not already be pledged as collateral for any other loan.

For what purposes can you avail Loan Against Property?

A loan against property is a secured loan that gives you a financial cushion by borrowing funds on your residential, commercial, or industrial property that you pledge as collateral. You can use the funds for any purpose - personal or business expenditures.

How long does it take to process a Loan Against Property application?

SMFG India Credit has a transparent and speedy process of loan approval and disbursal. We try to approve your application as quickly as possible.

What are my different options for making my EMI payments?

You are given two payment modes i.e PayTM and Billdesk. If you select PayTM, you will have further options such as BHIM UPI, debit card, and net banking. If you opt for BillDesk, you will be taken to the payment gateway page. Here, you would be provided with further Netbanking, Debit Card, Google Pay or UPI/wallets options.

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Contact Us

Address:

Commercial Space No. FWH-01, 1st Floor, Pearls Plaza Complex, Plot No. K-24-A, B, C, D, E & 25, Sector-18, Noida, Uttar Pradesh-201301

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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