Loan Against Property (LAP-Commercial)

• Eligibility & Documentation

  As applicable, we at SMHFC understand that every customer has varied needs, sources of income and documentation availability. We provide tailor-made solutions based on customer requirements. The final eligibility of a customer is decided on a number of factors including, but not restricted to income stability, repayment capacity, past credit record, and positive verification.

• Rate & Charges

  Loan Terms
  Loan Amount	Maximum Rs. 25 lakh.
  Tenure	Maximum 15 years.
  Interest Rate	14.5%-15% (PLR : 14.75%)
  Processing Fee	2% - 3% (+GST) of the loan amount
  Prepayment Charges	NIL
  Loan to Value	70%.
  Security	Equitable mortgage (by deposit of title deeds) on the property being financed. A registered mortgage may be insisted upon wherever necessary.
  Repayment	Through customer's electronic standing instruction (NACH) for all Equated Monthly Installments (EMIs).
  Other Conditions	SMHFC will facilitate customers to take a mortgage redemption policy through SMHFC's tie up with HDFC Life. The exact insurance amount will depend on the age, loan amount & loan tenure.
  Delay Payment Charges	A maximum of 24% pa on the defaulted sum.
  To read document retrieval and other charges, Click Here

  Swipe Table
• Client Selection & Approach For Gradation Of Risk

  The decision to give a loan is assessed on a case-to-case basis, based on multiple parameters such as a borrower profile, borrower's repayment capacity, past repayment record, tenor of loan, occupation and stability of income, borrower's other financial commitments, product type, geography, property type, value of the property etc. Such information is collected based on a borrower’s input and field inspection by the company officials.

• Calculators

Rate / terms could be subject to change at management's discretion