|Loan Amount||Rs 10 Lakh to Rs 75 Crore|
|Tenure||Up to 20 years|
|Processing Fee||Up to 3% of loan amount|
*50% waiver currently
|Late Payment Penalty||2% per month|
Individual borrowers: NIL
Others: 4% for payment above 25% in FY
Additional Reading: Check cibil score by pan card
To apply for Aditya Birla LAP you need basic documentation including KYC, Financials for last 2 Years & property documents.
KYC: Proof of Identity and Address
Proof of Income
Also Check: CIBIL full form
|Loan Processing /Administration Fee||Up-to 2% of the loan amount|
|Foreclosure||NIL for Individual borrowers. |
Lock in of 24 months to others.
After lock in: 4% of principal outstanding
NIL for Individual borrowers.
4% of excessive paid amount
|Default Penal Interest Rate / Non Conformance with any covenants / stipulated conditions||24 % p.a. i.e. 2% per month|
|ECS failure||Rs 1000 per instance|
|Accrued Interest||As applicable|
|cancellation||4% of the loan amount|
|Request for Copies of any collateral held with ABHFL||750/- per instance|
|Duplicate Statement/ Repayment Schedule / FC statement/ any other document||FC Statement: Rs. 1500|
RTR: Rs 1000
Other statements: Rs. 200
|Charge For Exchanging ECS/ NACH mandate||Rs 1000 per instance|
|Credit report retrieval fee||Rs 50 per instance for Consumer |
Rs 500/- for Commercial Credit Report
|Re-scheduling||2 % of the loan outstanding + Service Tax|
|NOC issuance||Rs 1000|
|Swap Charges (Fixed or semi-fixed rate to floating and vice-versa at discretion of ABHFL)||3% of the loan outstanding|
|Stamp Duty/ Legal and other statutory charges/ Insurance Premium/ Creation charge with ROC||As per actual, where applicable|
You can instantly calculate your eligibility for Aditya Birla Mortgage loan using an online calculator. Simply share the following details:
According to these details, the calculator will help you determine loan eligibility.
Additional Reading: Top Credit rating agencies in India
Call Aditya Birla Loan Against Property Customer Care at 1800 270 7000 for your queries and complaints.
You can write email at: firstname.lastname@example.org.
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Up to Rs. 5 Crore loan against property can be availed by Salaried and self-employed applicants online as well as offline. The LAP can be used for applied for business expansion, long term working capital, debt consolidation, equipment purchase, medical exigency, education/ marriage of children, holiday and much more. Higher loan amounts are available for select customers.
Compare loan amount, interest rates and post disbursal benefits to choose the best lender for loan against property. For instance you can compare following details with Aditya Birla Loan Against Propery with top banks & NBFCs as below. It will help you make an informed decision.
|Bank/NBFC||Interest Rate||Processing Fee|
|IDFC First Loan Against Property||7.35% onwards||Up to 3 %|
|HDFC Loan Against Property||8.00% to 8.95%||Up to 1 %|
|SBI Loan Against Property||8.45 % onwards||Up to 1 %|
|Kotak Mahindra Bank Loan Against Property||9.50% onwards||Up to 1 %|
|Bajaj Finserv Loan Against Property||8.25% to 18 % p.a||Up to 6%|
Currently banks and NBFCs have high liquidity and they are offering low cost mortgage loans for personal as well as commercial needs. The rate of interest varies according to customer’s profile and value of property. The rate of interest starts at 7.5 % onwards with most lenders.
A loan against property is a secured loan that lets you unlock credit value of your property at an affordable interest rate & EMI options. It is certainly a good idea to avail property loan for mid to long term cash needs as the loan doesn’t disrupt your lifestyle.
To be eligible for loan against property, the applicant should be a titled owner of commercial or residential property. The eligibility will be assessed according to the borrower’s repayment capacity and market value of property. Both individuals & non individuals can avail of LAPs for up to 60-80 % of property value for mortgage loan.
It is almost effortless to calculate LAP EMI using a Loan Against Property Calculator. All you need to do is share loan amount, interest rate and tenure and submit the details. The calculator will instantly share the EMI and amortization schedule. It lets you determine loan affordability & make an informed decision free of cost.
Aditya Birla LAP Loan Interest Rates are assed according to the customer’s credit profile & lender’s credit policy. Currently interest rate is attractive. The lender offers customised & affordable plans for diverse needs.