LOAN AGAINST PROPERTY

Your property can be a blessing in ways more than one. Unlock the hidden potential of your hard earned property by availing an easy loan against your residential or commercial property. Fullerton India offers a wide array of Property loans to meet financial expenses pertaining to your business, educational or personal requirements.

With a wide presence across the country and an influential network of branches, Fullerton India Property Loans provide a host of benefits and unique features completely customised to suit your needs. So if you have a dream or a goal, your property can help you achieve that in the most affordable way.

A Loan Against Property from Fullerton India is a multi-purpose loan that can be availed by mortgaging your existing property in semi-urban or urban locations. Our nation-wide presence and expert customer care ensures a sensitive handling of your property documents and records.

Loan against property - Unlock the value of your property
Fullerton India Advantage

Benefit from customised programs to suit your requirements.

Balance Transfer Facility + Additional Finance – Benefit from a higher loan amount at reduced interest rates

One of the highest loans against the value of property (LTV) – Benefit from higher loan amounts on your property.

Avail of loans ranging from ` 10,00,000 to ` 5 Crores – Benefit from a wide range of loan amount sizes depending on the financial need that you may have.

Documentation
Salaried
  • 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 or Statement/Driving License)
  • Age proof (PAN Card, Passport, any other certificate from a statutory authority)
  • Bank Statements (Bank statement / Bank Passbook for last 6 months) OR Last 3 months salary slip
  • Form 16
  • Income Tax Returns for last 3 years
  • Processing fee cheque
  • Copy of Title Documents of the property, Approved Plan
Self Employed
  • 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 or Statement/Driving License)
  • Age proof (PAN Card, Passport, any other certificate from a statutory authority)
  • Proof of business existence
  • Bank Statements (Bank statement / Bank Passbook for last 6 months)
  • Profit and loss statement for last 3 years
  • Balance sheet for last 3 years
  • Income Tax Returns for last 3 years (for self and business) duly certified by a CA
  • Processing fee cheque
  • Copy of Title Documents of the property, Approved Plan
FAQs

What is the maximum loan I can get against my property?

You can get a Loan against Property up to a maximum of 70%* of the market value of your property for Residential Premises and up to a maximum of 60%* of the market value of your property for Commercial Premises. * Conditions apply

For what purpose can I avail a Loan against Property?

You can avail a Loan against Property for any personal or for business purposes provided the end use is not for any speculative or prohibitive reasons.

When will the repayment of the loan commence

Repayment will commence in the month subsequent to the month in which the loan has been disbursed

How can I repay my loan?

The repayment of loan is done through Equated Monthly Instalments (EMI). It can be paid through CTS compliant Post Dated Cheques (PDC) or through Electronic Clearance System (ECS).

What security will I have to provide?

The security for the loan will be the first mortgage of the property to be financed, normally by way of deposit of Title Deeds and/ or such other collateral security, as may be necessary. The title to the property has to be clear, marketable and free from encumbrance. In other words, there should not be any existing mortgage, loan or litigation which is likely to affect the title to the property adversely.

How will my loan eligibility be calculated?

Loan eligibility is usually calculated basis the repayment capacity of the borrower. Repayment capacity can be ascertained based on factors such as income, age, qualifications, spouse's income, etc. We recommend you to speak to your nearest Fullerton India Relationship Manager to understand the same.

How will the loan be disbursed

The loan would be disbursed directly to your operating bank account

What is the tenure of the Loan?

The loan can be for a maximum tenure of 15 Years or up to a maximum age of 65 at maturity of the loan.

When will the loan get disbursed into my account?

The loan is disbursed into your account post approval, compliance of the Loan Agreement and Legal formalities and after the property that is being mortgaged has been technically and legally appraised.

Can I repay my loan earlier than the due date?

Yes, you can repay your loan at any time during the loan tenure. However prepayment is not permitted within 12 months from loan disbursal date.


* Loans are at the sole discretion of Fullerton India and are subject to guidelines of the Reserve Bank of India. Fullerton India may engage the services of marketing agents for the purpose of sourcing loan assets in certain locations.