Overview
Are you in need of quick and urgent funding? You should know that your property can be a huge asset when it comes to getting loans for taking care of urgent business requirements. Loan Mitra Offers Loan Against Property across residential/commercial/industrial properties and you can now get access to your desired amount for taking care of Business goals. Instead of letting your property sit as a dead asset, you can tap into the unused value of the same to obtain swift funding.
Features And Benefits
Features
Loan Amount up to 80% of Property Value
Loan Mitra offers loan amount up to a whopping 80% of the present cost of the property in question
5 years as repayment tenure
You can get a hassle-free repayment tenure up to 5 years when it comes to Loan Against Property
Zero Prepayment Charges
There are no prepayment charges to be paid if you repay the entire loan amount before the tenure
Benefits
Higher Loan Eligibility
MSMEs can avail for higher loan amount as compared to their loan eligibility.
Minimal Documentation & Swift Processing
There is minimal documentation along with swift processing of loans for greater convenience
Get loan sanctioned in 2 working days
Loan Mitra sanctions loan within just 2 working days, thereby helping you meet urgent requirements with gusto!
Eligibility And Documents
Eligibility
- Age of key person should be between 21-55 years
- Business stability of more than 2 years
- Annual business turnover should exceed Rs. 15 lakhs
Documents Required
For getting a Loan Against Property, the following documents are needed:
KYC Documents:
- A copy of PAN Card.
- Proof of Address: (Passport Copy / Aadhaar Card / Electricity Bill / Registered Rent Agreement)
- Statutory documents: In the case of Proprietary Firm: Shop Act, GST Registration Certificate, Udyog Aadhaar Memorandum, VAT Registration, other Registrations Applicable.
- Statutory documents: In the case of Private / Public Limited Company/One Person Company: MOA & AOA, Certificate of Incorporation, Certificate of commencement of business in case of a public limited company, GST Registration Certificate, Shop Act, Udyog Aadhaar Memorandum, VAT Registration and other Registrations Applicable.
- Statutory documents: In the case of Partnership Firm: Registered Partnership Deed, In Case of LLP: LLP Agreement, Shop Act, Udyog Aadhaar Memorandum, GST Registration Certificate, VAT Registration and other Registrations Applicable.
Income Documents:
- Last 2 years Financials (IT Returns, Computation Sheet & Balance-sheet) and Proof of turnover vide latest sales/service tax returns and Invoice / Purchase Order Copy (for loan against receivables)
- Last 1-year bank statement of an operative bank account.
- Details of all existing loans: Sanction Letter and Loan Account Statement for last 1 year.
Profile
- Brief Profile of the Promoters and Company / Firm
Property Documents
- Copies of all Property Documents of the concerned property in case of mortgage based loan.
How To Apply
You can now apply for Loan Against Property through the following steps:
- Click here to apply online
- Scan and upload documents online
- Verification & assessment
- Loan approval in 2 working days
Contact Us
In case you have any query or need any kind of assistance, please call us on (+91) 9881902174 or email us at info@loan-mitra.com. We would be delighted to answer any questions that you may have.By logging onto loan-mitra.com, you can save both time and money, while simultaneously getting the latest information on the financial products you seek.
Faqs
You can get loans up to 80% of your property value.
You are eligible if you meet the following criteria:
- Age of key person should be in between 21-55 years
- Business stability of more than 2 years
- Annual business turnover exceeds Rs. 15 lakhs
You can use residential, commercial, industrial or any other type of real estate property for this loan.
You can use Loan Against Property for multifarious requirements including purchasing of new property, taking care of business needs or even refinancing existing loans among others.
Documents are needed for the co-owner/owners along with their signatures for getting the Loan Against Property.