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

In the vibrant state of Punjab, loans against property stand as a pivotal resource, empowering residents and businesses to unlock the value of their immovable assets for diverse financial endeavors. Leveraging residential or commercial properties as collateral, these loans cater to an array of needs.

Punjab's robust financial sector boasts established institutions offering structured loan frameworks, enabling individuals and enterprises to access substantial funds at competitive interest rates. This financial tool not only provides immediate liquidity but also allows borrowers to capitalize on the accrued value of their properties, bridging aspirations with financial prudence. With a balanced blend of opportunity and stability, loans against property in Punjab serve as a cornerstone for realizing ambitions, fostering growth, and meeting diverse financial objectives in this dynamic region.

Features And Benefits Of Loan Against Property In Punjab

Here are some of the benefits of availing a loan against property in Punjab through SMFG India Credit:

Loan Against Property up to 5 crores:

Secure up to 70% of your property's market value for diverse needs.

Competitive Interest Rates:

Get the best rates in the market, maximizing your benefits.

Flexible Repayment Tenures:

Tailor your repayment plans to suit your financial goals.

High Loan-to-Value (LTV):

Access optimal value against both residential and commercial properties.

Hassle-free Process:

Experience swift documentation and transparent procedures.

Experienced Team:

Benefit from a dedicated team available via phone or email for guidance.

Quick Disbursals:

Ensure prompt access to funds for business or personal requirements.

Transparent Services:

Our commitment to transparency ensures a clear understanding of loan options and rates.

Eligibility Criteria For Loan Against Property In Punjab

Our procedures for determining loans against property eligibility are clear and straightforward. Please refer to the table below:

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 Punjab

For an extensive document listing or personalized guidance tailored to your unique needs, we invite you to explore our document page or contact our dedicated customer service representatives for tailored assistance.

Here is a list of the documents required for applying for a loan against property in Punjab.

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 Punjab

At SMFG India Credit, interest rates on loans against property are tailored considering many vital factors. Understanding the nuances of these elements is crucial in determining the interest rates applicable to your loan against property.

For a more detailed understanding of personalised guidance specific to your circumstances, please refer to the table provided or reach out to our expert representatives.

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.

How To Apply For A Loan Against Property In Punjab?

Here's a simple guide to help you with the application process:

Start Applying: Hit the "Apply Now" button found at the top right corner of the website. Then, pick "Loan Against Property" based on your job status.

Fill Online Form: Be accurate while filling out the online form. Don't forget to add your mobile number and authenticate using the 6-digit OTP you'll receive.

Information: Enter your details, job specifics, and banking information when prompted.

Upload Documents: Get those necessary scanned documents ready for your loan application and upload them.

Submit: Once everything's set, hit the "Submit" button. You'll get a quick notification about your loan approval status.

Our customer care team might get in touch during the verification process for any extra information.

Conclusion:

Loans against property in Punjab represent a robust financial avenue, providing individuals and businesses with an opportunity to leverage their immovable assets for diverse financial endeavors. This financial tool not only offers substantial liquidity but also catalyzes the fulfillment of various ambitions, including business expansions, meeting personal financial requirements, and consolidating debts. So, if you want to move forward with a loan against property procedure, we are happy to be your partner in this financial journey.

Apply for Loan Against Property

FAQs

How is my loan against property in Punjab eligibility calculated?

Many factors influence the eligibility criteria to avail of a loan against property in Punjab. Factors such as age, existing financial liabilities, and the lender's specific criteria also influence eligibility for a loan against property.

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

Online platforms offer 24/7 accessibility, allowing applicants to apply for a loan against property from anywhere at their convenience, eliminating geographical barriers. The entire application process, including form submission, document upload, and approval, can be completed remotely without the need for multiple visits to our offline branches.

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

There are many ways in which you can lower the interest rate on your loan against property. Offering a higher down payment might decrease the loan amount, which could lead to a lower interest rate. Choosing a shorter repayment tenure might result in a lower interest rate, although it might increase your monthly installments.

Contact Us

Address:

First Floor, Eminent Mall, 10 – The Mall, Amritsar, Punjab - 143001

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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