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.
SMFG India Credit offers mortgage loans in Surat up to INR 40 crores* or up to 70%* of the market value, so that you can easily fulfill your business or personal needs.
Whether you are a salaried or self-employed applicant or an SME, we offer loan against property solutions tailored to your unique needs.
We offer attractive interest rates to eligible borrowers, along with flexible options for repayment.
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.
This ensures that you get the best value against your commercial and residential properties with our solutions 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:
**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.
Here are some of the documents required to apply for a Loan Against Property:
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Type of Document |
Salaried |
Self-Employed / SMEs |
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PAN Card |
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Proof of Identity And Proof of Address (any one) |
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Age Proof (any one) |
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Bank Statements |
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Income Documents (with CA certification wherever applicable) |
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Property Documents |
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Other Essential Documents |
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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:
The interest charged on a loan against property depends on several factors. These include:
|
Factor |
Rates/Charges |
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Interest Rate |
9.25% - 18.5% per annum SMFG India Credit Retail Prime Lending Rate (RPLR) is 20.80% w.e.f 1st April, 2024. Lowest Interest Rate (depending on several factors including net income, employment or business stability, existing monthly obligations, type of LAP product, etc.) |
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Rate of Interest Conversion Fee |
An amount not exceeding 1% of the Principal Outstanding as on date of change request |
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Charges for switching of loans from floating to fixed rate and vice versa |
2% of the outstanding loan amount |
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Processing Fees |
Up to 2% + GST |
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Loan Cancellation Charges (Loan Cancelled Before 1st EMI) |
INR 5,000 plus GST if the loan is cancelled at the request of the borrower after disbursement of the loan but before encashment of the loan disbursal cheque. If cancellation of the loan is requested after encashment of the loan amount, prepayment conditions as specified herein shall apply. |
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Repayment Instrument/ECS/ACH/Direct Debit Dishonor Charges |
INR 500/- |
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IMD Charges |
Up to INR 4,500 plus GST for loan amounts from INR 5 lakh to INR 50 lakh; up to INR 5,500 plus GST for loan amounts above INR 50 lakh and up to INR 40 crore; and up to INR 6,500 plus GST for loan amounts above INR 40 crore |
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Late Payment Charges (applicable for payment default) |
2% charged monthly (24% per annum) on the overdue amount, calculated on a day-to-day basis, payable from the relevant due date till the date of actual payment |
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.
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.
* 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.
Address:
Block no. 658/ Paikki 1, T.P. Scheme no. 10 (Adajan), F.P. no. 3, 1st Floor, F-02, F-03 & F-04, The Citadel,Nr. Cable Bridge, Opp. Star Bazar, Hazira Road, Adajan, Surat Gujarat - 395009
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).
For loans against property, SMFG India Credit offers amounts of up to INR 40 crores* or up to 70%* of the property’s market value.
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.
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.
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.
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Insurance disclaimer SMICC is registered with the Insurance Regulatory and Development Authority of India (IRDAI) as a Corporate Agent. IRDAI Registration No.: [CA0098] CIN No. U65191TN1994PLC079235. The insurance policy is a contract between the customer and the insurance company, and policy is underwritten by insurance companies. SMICC acts only as the distributor and is not responsible for any risk, policy issuance, claim settlement/repudiation etc. Insurance is the subject matter of solicitation. Purchase of insurance is voluntary and subject to insurer underwriting and policy terms and conditions. Customers are advised to read the policy terms and conditions, benefits, exclusions, claim settlement carefully before purchase. Kindly note that “Insurance Products” are not mandatory for the purpose of the application and disbursement of loan. It shall be the sole discretion of the customer, by providing explicit consent, to avail such insurance along with the Loan.
Beware of Spurious calls/ Fraud phone calls IRDAI is not involved in activities like selling Insurance policies, announcing bonus or investment of premium. Public receiving such phone calls are requested to lodge a police complaint.
