Mumbai is one of the most dynamic cities in the world and is commonly known as the city of dreams. Over the years, this city has offered life-changing opportunities to millions of individuals. If you own a residential or commercial property in this city, you can consider a loan against property in Mumbai to tide over any expenses.
You may require funds for a variety of reasons such as starting a business, pursuing education abroad, for managing wedding expenses or for medical emergencies. Fullerton India understands the importance of arranging for funds quickly in such situations and hence provides loan against property in Mumbai. By availing a loan against property in Mumbai, you can easily manage these huge expenses.
Here are the features and benefits of loan against property in Mumbai:
Loan against property eligibility is extremely easy. You are eligible for loan against property in Mumbai as a salaried resident or a self-employed resident or a SME.
If you are a Salaried Applicant, Then
If you are a Self-Employed Applicant, Then
If you are Applying as a SME, Then
You can also use the maximum loan eligibility calculator to estimate the maximum loan amount that you can receive. You will need to enter the market value of the property, nature of property, monthly income, existing monthly obligations, interest rate and tenure.
However, there are a few other factors that are considered in determining eligibility. These include the applicant’s eligibility and the policies followed by Fullerton India during the loan application process.
The list documents required for loan against property for both self-employed and salaried include income tax returns for the last two years
For SMEs, the list of documents include
It is important that a percentage of your cash flow should support the loan amount.
Before applying for a loan against property in Mumbai, you can use the EMI calculator to calculate your EMI. Most lenders offer this calculator on their website. For example, Fullerton India’s website has an easy-to-use EMI calculator that helps you to calculate your EMI and plan your monthly budget.
You need to enter repayment tenure, interest rate, and loan amount. The maximum repayment tenure is 15 years and your age of 65 years. The interest rate on loan against property starts from as low as 9%. While choosing values in the EMI calculator remember that you can get a maximum loan value depending on the LTV that is currently being offered by Fullerton India.
Usually interest rates on loan against property in Mumbai begin from 9% onwards. However, before applying it is recommended that loan applicants go through the fees and charges offered by the lender. Fullerton India is transparent about the loan against property fees and charges and has published them. It is recommended that loan applicants go through these details before applying for a loan against property in Mumbai.
Since the loan applicant would require a substantial amount within a short period of time, it is important that the loan application be processed quickly. Fullerton India recognises the importance of making funds available within a short period. We aspire to provide a seamless and convenient experience to our loan applicant.
If you are planning to apply for a loan against property in Mumbai, you have to click on the “Apply Now” button, and then select “Loan Against Property”. After this step, you have to fill up the requisite form with a few details related to your profile, employment, etc. Thereafter, you will immediately receive a confirmation from Fullerton India, and a customer care representative will get in touch with you to assist further.
Branch Address 1
301, Third Floor, Agora Business Park, S V Road, Near Kora Kendra, Borivali West, Mumbai - 400092, Maharashtra.
Branch Address 2
Ground Floor, Trade Point, Unit No. 7&8, Kamala Mills, Pandurang Budhkar Marg, Lower Parel, Mumbai - 400013, Maharashtra
Branch Address 3
2nd Floor, Kalpataru Square, Kondivita Road, Near Trade Star, Marol Pipe Line, Between Chakala & Airpot Road Metro Station, Andheri (East), Mumbai - 400069, Maharashtra
Branch Address 4
Second Floor, Unit No. 21-22, Kalpatru Square, Kondivita Road, Off. Andheri Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra
Branch Address 5
"Supreme Business Park", 6 th Floor, B - Wing, Near Sharma Cottage, Behind Lake Castle, Hiranandani Gardens, Powai, Mumbai-400076
Branch Address 6
5th Floor, C-Tower, Times Square Building, Marol, Gamdevi, Andheri Kurla Road, Amdheri ( E) , Mumbai - 400059
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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