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

Pune, the seat of the Peshwas, is famously hailed as the "Oxford of the East" and is the best representation of Marathi culture. Esteemed for its prestigious academic institutions, the city brims with intellect, innovation, and multiculturalism. From the magnificent Shaniwar Wada to the imposing Sinhagad Fort, Pune's rich past coexists harmoniously with its modern amenities and lively nocturnal scene. Nestled near scenic hill stations and showcasing an appreciation for fine arts, music, and literature, Pune is truly an urban paradise.

Are you seeking finances for medical needs, expanding your business or financing your child’s education? A loan against property (LAP) can help you do so by offering substantial loan amounts at competitive interest rates and convenient repayment tenures. But before proceeding, let’s understand the nitty-gritty of SMFG India Credit’s loan against property.

Features And Benefits Of Loan Against Property In Pune

SMFG India Credit provides quick loan disbursement with minimal paperwork, and flexible repayment periods, with customised loan plans. Here are the advantages of opting for a Loan Against Property in Pune:

Transparency and Trust:

We believe in maintaining transparency and customer trust at all times with our simplified loan application process. Your confidence in us is our priority.

Tailored Solutions:

Flexible and customisable, our Loan Against Property packages are designed to cater to your specific financial needs and preferences.

Effortless Documentation:

Submit digital copies of necessary documents and say goodbye to the hassle of paperwork. This is followed by quick verification and efficient fund disbursements.

Generous Loan Limits:

Being a secured loan, you can avail of loans up to almost 70%* of your property's market value.

Competitive Rates and Flexible Repayment:

Get the best out of your LAP with our multiple repayment options and competitive interest rates.

Unlock Property Value:

Let us help you unlock your property's full potential and provide the best value.

Eligibility Criteria For Loan Against Property In Pune

To decide your eligibility for a Loan Against Property (LAP) in Pune, here are some criteria applicants must fulfil:

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 Pune

Having the requisite documentation beforehand can save you significant time and avoid any last-minute delays. Here is a list of the essential documents to keep handy:

Salaried

Self-employed

SME

IT returns for the last 2 years

IT returns for the last 2 years

Proof of identity (Passport, Voter ID, PAN Card, Driver’s Licence)

Proof of identity (Passport, Voter ID, PAN Card, Driver’s Licence)

Proof of identity (Passport, Voter ID, PAN Card, Driver’s Licence)

Form 16

Address Proof (Ration Card, Telephone Bill, Electricity Bill, Rent Agreement, Passport Copy)

Address Proof (Ration Card, Telephone Bill, Electricity Bill, Rent Agreement, Passport Copy)

Address Proof (Ration Card, Telephone Bill, Electricity Bill, Rent Agreement, Passport Copy)

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

   

A percentage of your cash flow must support the loan amount.

You can also refer to our document page or contact our customer service executives for more details.

Interest Rates On Loan Against Property in Pune

To determine the lowest interest rate, lending institutions consider several factors, including income, job stability, existing financial commitments, and your chosen LAP type.

This table gives an idea of the different fees and charges involved.

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 Pune?

Here is a step-by-step approach to applying for a Loan Against Property (LAP):

Step 1: Go to the homepage and press on the "Apply Now" button located in the upper right corner.

Step 2: The "Loan Against Property" option will be visible. Select and proceed.

Step 3: Add your name and contact details. Entering your personal information is accurate.

Step 4: An OTP will be displayed on your mobile number. Typing it in will verify your contact details.

Step 5: Add details about your employment and bank account.

Step 6: Upload the necessary documents as instructed on the screen.

Step 7: “Submit” and your application process is complete.

Step 8: You can keep track of your loan status using the web portal or the online application.

Step 9: The customer care team will assist you in completing any remaining formalities.

Conclusion:

Opting for SMFG India Credit's Loan Against Property program in Pune offers a beneficial, client-centric, and seamless approach to obtaining significant funds. Be it a wedding, medical emergency, or expanding your business, an LAP can readily help you secure your funds by pledging your property as collateral.

Whether you are a salaried, self-employed or SME owner, this loan can be applied for with minimal documentation and a robust customer support service. Apply now to maximise your property's potential.

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.

FAQs

How is my loan against property in Pune eligibility calculated?

Many online tools are available today to help you get clarity on your suitability for a personal loan. Lenders in Pune consider the factors listed below to determine your creditworthiness:

  • Location,
  • Monthly income,
  • Nature of employment,
  • Credit score,
  • Current financial obligations to determine your creditworthiness.

These criteria help negotiate advantageous loan terms and interest rates.

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

Applying for an online LAP in Pune offers several advantages, including,

  • Loan availability up to 70% property value.
  • Time-saving application process.
  • 24/7 Accessibility.
  • Paperless application format.
  • Swift approvals.
  • Flexibility in repayment schedules.
  • Transparent dealings.
  • Confidentiality assurance.
  • Secure transaction protocols.
  • Responsive customer support services.

How do I get a lower interest rate on my loan against property in Pune?

Some approaches you can use to ensure a lower interest rate on your LAP in Pune:

  • Maintain a strong CIBIL score (at least 700).
  • Opt for credible lenders.
  • Reduce your loan-to-value ratio.
  • Consider property valuation services for added credibility.
  • Guarantee timely payment of all debts to avoid late accounts.

Contact Us

Branch Address 1

3rd Floor, Western Wing, Office No. 301 & 315, Nyati Corporate Park, CTS No. 1995 and CTS No. 1996B, Nagar Road, Yerwada, Pune - 411006

Branch Address 2

First Floor, Level 1 , Nyati Unitree, West Wing, Samrat Ashok Marg, Yerwada, Pune - 411006, Maharashtra

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

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