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Aditya Birla Loan Against Property
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 Property Features & 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 | 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 | 1,000/- per instance |
| Request for Copies of any collateral held with ABHFL | 750/- per instance |
| Duplicate Statement/ Repayment Schedule / any other document held with ABHFL request | 200/- per instance |
| Charge For Exchanging ECS mandate | 750/- per instance |
| Credit report retrieval fee | 50/- per instance for Consumer and 500/- for Commercial Credit |
| Loan Re-schedulement (at discretion of ABHFL) charges | 0.50% of the loan outstanding + Service Tax |
| NOC issuance charges | 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 10% - 11%
- Loan Amount 20L - 30Cr
- Processing Fee 0.50% - 1%
- Tenure15 Years
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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
- Aditya Birla Business loan
- Aditya Birla Home Loan
- Aditya Birla Home Loan Balance Transfer
BEST LOAN AGAINST PROPERTY OFFERS FROM OTHER BANKS
YES BANK LAP CAPITAL FIRST LAP
FULLERTON INDIA LAP DEUTSCHE BANK LAP
EMI CALCULATOR
Loan EMI
Total Interest Payable
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