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

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

Our document requirements are minimal to keep the loan application and approval process straightforward. They include proof of identity, age, address, and income, along with documents for the property that is to be kept as collateral.

Let us take a look at these requirements in detail:

  • Application form with a recent photograph
  • Proof of identity (Passport copy / Voter ID card / Driving license / PAN card)
  • Address proof (Ration card / Telephone bill / Electricity bill / Rental agreement / Passport copy / Bank Passbook / Statement / Driving license)
  • Age proof (PAN card / Passport / Any other certificate from a statutory authority)
  • Account statements for the last 6 months / last 6 months salary slips
  • Form 16
  • Income Tax Returns for the last 3 years
  • Processing fee cheque
  • Documentation pertaining to the property offered as collateral

Additional documents for self-employed applicants and SMEs:

  • Self-employed: Income statements and other financials for the past 2 years attested by a CA
  • SMEs: Audited financials for the last 2 years

**Please note that this list is only indicative. Additional documents may be requested depending on your profile and SMFG India Credit’s policy at the time of loan application.

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.

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.

Contact Us

Address:

Second Floor, Shanti Point, Parag House, Above Kotak Mahindra Bank, Ring Road, Udhna Darwaja, Surat -395002, Gujarat

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).

FAQs

What is the maximum amount I can get for a Loan Against Property in Surat?

For loans against property, SMFG India Credit offers amounts of up to INR 5 crores* or up to 70%* of the property’s market value.

Can the property be sold during the loan tenure?

No. For a Loan Against Property with SMFG India Credit, you must pledge a non-movable property as collateral. Additionally, you must own this property.

How is the interest rate for a Loan Against Property determined?

The interest rate for a Loan Against Property is determined by several factors such as age, income, credit score, type of employment, as well as the lender’s policy at the time of loan application.

Is a Loan Against Property taxable?

Since a Loan Against Property is a mortgage loan, you cannot get any tax exemptions on the same. This applies to all the Loan Against Property products that are available at SMFG India Credit.

Knowledge Center

Here are some articles which could help you understand us and our products better.


Have a Query? Read FAQs
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