Loan Against Property in Surat

The Diamond City of India, Surat, is a hub of commerce with easy access to major highways, ports, and airports. It is known for thriving industries like diamonds, textiles, chemicals, and Information Technology. Surat has a rich historical importance and is home to famous landmarks such as Surat Castle (Old Fort), ISKCON Temple, and Sarthana Nature Park. 

Whether you are looking to expand your business operations or looking for your dream home, a Loan Against Property in Surat comes with several advantages.

Features & Benefits of Loan Against Property in Surat

Loan Against Property up to INR 5 crores*

SMFG India Credit offers mortgage loans in Surat up to INR 5 crores* or up to 70%* of the market value, so that you can easily fulfill your business or personal needs.

Customised Financial Solutions

Whether you are a salaried or self-employed applicant or an SME, we offer loan against property solutions tailored to your unique needs.

Attractive Interest Rates

We offer attractive interest rates to eligible borrowers, along with flexible options for repayment.

Minimal Documentation and Quick Disbursal

Our online application process ensures a smooth process with no heavy paperwork involved. Our process is designed for quick approvals and disbursals, subject to your eligibility and the accuracy of your documentation.

High Loan-to-Value (LTV)

This ensures that you get the best value against your commercial and residential properties with our solutions for Loan Against Property in Surat.

Eligibility Criteria for Loan Against Property in Surat

Here are the eligibility criteria you have to meet to be eligible to apply for a Loan Against Property in Surat:

Salaried Applicants

• You must be a resident citizen of India.
• Your age must be at least 21 at the time of loan application and must not be more than 60 at the time of loan maturity.
• You must be employed in an MNC, a private company, or a public sector.
• You must have a minimum CIBIL score of 700.

Self-employed Applicants

• You must be a resident citizen of India.
• Your age must be at least 25 at the time of loan application and must not be more than 65 at the time of loan maturity.
• You must have a steady source of income.
• You must have a minimum CIBIL score of 700.

SMEs

• The SME must be of Indian origin.
• The financials must show a steady source of profits for the past 2 years and must be audited by a chartered accountant.

**Given above are the basic eligibility criteria. The final eligibility will depend on several other parameters including SMFG India Credit’s policy at the time of loan application.

Documents Required to Apply for a Loan Against Property in Surat

Here are some of the documents required to apply for a Loan Against Property: 

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:

• Original identity, address, and supporting documents must be available for in-person verification. This may not apply if you are completing digital KYC.
• If your submitted address proof does not reflect your current address, one of the Deemed OVDs may be accepted. Click here to check the list.
• An OVD displaying the correct address must be submitted within three months of providing the initial address proof.

Interest Rates On Loan Against Property in Surat

The interest charged on a loan against property depends on several factors. These include:

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.

How to Apply for a Loan Against Property in Surat

SMFG India Credit’s online application portal makes the process quick and convenient. Fill in the required personal and employment details. Verify your mobile number with an OTP and ensure that your email ID is also verified. Once you complete the application form and upload the supporting documents, our representative will get in touch with you to guide you further. 

Alternatively, you can visit your nearest SMFG India Credit branch in Surat, where our representative will be happy to assist you.  

Before applying, we recommend that you use our online EMI calculator. It will help you to foresee your monthly payments and plan your finances more efficiently.

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