The historic beauty of India, also known as the ‘Pearl City’ has become a powerhouse in all aspects today. It has evolved into an IT hub and is also known as one of the easiest cities to do business in the country. While living in Hyderabad, you may require funds for a variety of purposes including starting a business, expanding your business, pursuing higher education, medical emergencies or for a wedding in the family etc. In such cases, you may quickly require a large amount.
Therefore, if you require funds urgently for any purpose and own a commercial or residential property, then you can explore a loan against property in Hyderabad being offered by Fullerton India.
Fullerton India offers the following features and benefits of loan against property in Hyderabad:
Fullerton India loan against property can go up to Rs 5 crores. The loan amount can go up to 70% of your property value. The interest rate on loan against property begins from 9% onwards. You can also opt for a repayment tenure upto 15 years. Thus, you can manage your EMIs comfortably.
For those who are salaried, the documents are required for loan against property include application form with a recent photograph, proof of identity (PAN card, Aadhar card, Driver’s Licence), proof of address (Aadhar card, Passport, Bank Passbook, Electricity bill, Ration card), bank statements, Form 16, Income tax returns for the last three years and documents related to the property being pledged as collateral.
For those who are self-employed, additional documents would be required. If you are self-employed, you will need to provide income and other relevant financial statements for the last two years. Copies of these statements would have to be attested by a CA. If you are running a SME, then audited financial statements for the last two years would be required.
Fullerton India loan against property in Hyderabad can be completed online seamlessly in a few steps:
You are eligible for loan against property in Hyderabad as a salaried resident and self-employed resident both. Here are a few of the basic criteria:
Lastly, some other factors like income, fixed expenses, current credit history, etc are considered in calculating the eligibility.
Fullerton India provides a loan against property EMI calculator. It helps you plan for your EMIs and hence your monthly expenses. You only need to enter repayment tenure, interest rate, and loan amount. The maximum repayment tenure is 15 years (180 months). The interest rate starts at 9%.
Therefore, instead of selling your property to raise funds, you may want to take a loan against it. As a loan against property is a secured loan, you can get a larger loan amount and a longer tenure, which is perfect if you need large funds.
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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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