Aditya Birla Loan Against Property

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About Aditya Birla Finance

Aditya Birla Finance Limited (ABFL), a part of the Aditya Birla Financial Services Group (ABFSG) is one of India's most reputed Non-Banking Financial Companies (NBFC). The company was incorporated in 1991 and got certified as ISO 9001:2008 across all its core functional processes in March 2013 by BSI (a leading global business services organization). It offers customized solutions in Capital Market, Commercial Real Estate & Mortgage, Infrastructure Project & Structured Finance, Corporate Finance, etc.and also specializes in wide range of financial offerings such as Life Insurance, Asset Management, NBFC, Private Equity, General Insurance,etc.

About Aditya Birla Finance Loan Against Property

Aditya Birla Finance extends provides Loans Against Property (LAP) to enable borrowers to mortgage his owned property without selling it and avail of necessary funds subject to property valuation and relevant documentation. LAP helps the borrower tide over a financial crunch.

Why apply for Aditya Birla Finance Loan Against Property

  • To meet business capital requirements
  • Arrange a wedding
  • Finance child?s higher education
  • Debt consolidation

 

                                                                    

Loan Against PropertyFeatures & Benefits

  • Attractive interest rates
  • Loan tenure up to 15 years
  • Quick & transparent processing
  • Collateral: Residential or commercial property
  • Choice between simple EMIs and structured repayments
  • Availability of attractive balance transfer options

Aditya Birla Finance Loan Against Property Fees & Charges

 Loan Processing /Administration Fee Up-to 2% of the loan amount
Pre-payment Charges:
Pre-closure is allowed after 12 months from loan
disbursement date for Long Term Loans
Any part pre-payments made in the last 12 months prior to closure will be counted towards the pre-closure charges
  Loan against Property: 4% of principal outstanding
Other Charges:
Default Penal Interest Rate / Non Conformance with any covenants / stipulated conditions
  24% p.a. i.e. 2% per month
ECS failure charges   Rs 750/- per instance
Accrued Interest  As applicable based on actual delayed status or as communicated by the lender from time to time
Pre-closure quote  Rs 1,000/- per instance
Request for Copies of any collateral held with ABHFL  Rs 750/- per instance
Duplicate Statement/ Repayment Schedule / any other document held with ABHFL request  Rs 200/- per instance
Charge For Exchanging ECS mandate  Rs 750/- per instance
CIBIL report retrieval fee  Rs 50/- per instance for Consumer and   500/- for Commercial CIBIL
Loan Re-schedulement (at discretion of ABHFL) charges  0.50% of the loan outstanding + Service Tax
NOC issuance charges Rs 500 + Service Tax
Swap Charges (Fixed or semi-fixed rate to floating and vice-versa at discretion of ABHFL) 2% of the loan outstanding

Stamp Duty/ Legal and other statutory charges/ Insurance Premium/ Creation charge with ROC

 As per actual, where applicable

  • Interest Rate 9.5% - 11%
  • Loan Amount20L - 30Cr
  • Processing Fee 0.50%
  • TenorUpto 15 Years

  • Quick Apply

Aditya Birla Finance Loan Against Property Eligibility Criteria

  • Minimum age -21 years
  • Maximum age at loan maturity
  • Salaried- 60 years; Self-employed - 70 years 
  • Minimum loan amount - 25 lakhs for Delhi & Mumbai; 15 lakhs for all other locations
  • Loan amount can be upto 70% of the residential property value and upto 60% of commercial property value

Documents Required for Aditya Birla Finance Loan Against Property

  • Proof of Identity and Address (Passport/ Voter's ID card/ Driving License / Job Card issued by NREGA/ Adhaar Card/ PAN card (only as identity proof) or any other document as acceptable to ABHFL)
  • Proof of Income
  • Salaried: Last 3 months salary slip showing all deductions and  Form 16
  • Self ? Employed: IT Returns or financial documents for last 2 years and computation of income certified by a CA for last 2 years
  • Last 6 monthsBank statement where salary or income is credited
  • Proof of other Income (Rental receipts/ documents showing receipt of income)
  • Property Documents(Copy of Title documents and approved sanction plan)

Other Available products from Aditya Birla Finance

  • Business loan
  • Home Loan
  • Home Loan Balance Transfer