Loan Against Property (LAP-Commercial)
- Loan Against Property (LAP-Commercial) is applicable to the customers, who wish to avail loan mortgaging their commercial property.
- Get loan of upto Rs 35 lakhs with maximum tenure of 15 years.
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. 35 lakh. Tenure Maximum 15 years. Interest Rate 13.5% onwards
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. To read document retrieval and other charges, Click HereSwipe Table
Rate / terms could be subject to change at management's discretion