IndusInd bank loan against property brings you the wonderful opportunity to benefit from your valuable property. The bank offers loans against property in which you can give your property as collateral to the lender and avail funds to meet your financial needs. You can look forward to this loan to accentuate your business or personal needs and deal with the expenses. The loan is offered at a pocket friendly rate of interest starting from 9% per annum and ranging up to 12.50% for a repayment period of up to 15 years. Let’s dig more about the IndusInd bank mortgage loan.
|
Loan Amount |
As per the bank’s discretion |
|
Interest Charges |
Starts at 9% per annum |
|
Processing Fees |
Up to 2% of the loan amount plus applicable taxes |
|
Tenure |
Up to 15 years |
|
Prepayment Charges |
NIL for individual borrowers Up to 4% of the outstanding principal for others |
Here are the speculation features of IndusInd loan against property:
IndusInd bank loan against property offers financial solutions to the customers to fund your personal or business goals. This loan can be availed by offering the commercial or residential property as collateral to the bank.
The loan amount for IndusInd mortgage loan depends on the important factors such as your age, monthly income, credit score, existing loans etc.
IndusInd bank loan against property interest rates start from 9% per annum and range up to 12.50% per annum. The rates are determined by many factors like your credit score, repayment tenure etc.
IndusInd loan against property repayment tenure ranges up to the maximum of 15 years.
You can go for the IndusInd bank loan against property balance transfer facility in which you get to move your existing loan from another bank to the IndusInd bank loan. This creates a room for you to save up good on interest charges, given that your current lender costs higher rates. You can reach out to the bank to know more about the IndusInd home loan balance transfer facility.
IndusInd bank enables you to make prepayment and part-prepayment of your loan against property. The prepayment and part-prepayment fees for individual borrowers are decided upon the RBI guidelines.
The bank allows other borrowers to make prepayment of loan after completing 12 instalments. It charges a pre-closure fee of 4% of the principal outstanding on loan against property.
Part-prepayments for IndusInd Bank LAP are allowed only 4 times in a financial year and borrowers can only make part-prepayment for up to 25% of the amount. The bank charges a fee of 0.25% plus applicable taxes for part-prepayment.
To apply for a loan against property you have to pay fees and charges applied by the Indusind Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from Indusind Bank i.e processing fee, prepayment / foreclosure charges etc.
|
TYPE |
CHARGES |
|
Processing Fee |
Up to 2% of loan amount |
|
Prepayment Charges - Part or full prepayment is not allowed before 12 months from the EMI starting date. Part Pre-payment charges |
|
|
Late payment of EMI |
2% per month on an overdue amount. |
|
Duplicate Repayment schedule Charges |
Rs. 500/- |
|
Duplicate No Due Certificate /No Objection Certificate. |
Rs. 200/- |
|
Cheque/ ECS/SI Dishonour Charges |
Rs. 500/- |
|
Service Tax , other government tax |
As applicable. |
|
Stamp Duty Charge per s |
Based on the local rules and regulations and the type of mortgage. |
|
SI/ ECS/PDC Swap Charge |
Rs. 500/- |
|
Personal Credit Report Issuance Charge |
Rs. 50/- |
|
Document Copy Charges |
Rs. 500/- |
|
Conversion Charges |
Upto 0.75% of the principal outstanding inclusive of taxes. |
|
Collection charges |
Rs. 100/- for local visit to customer premises per instance and Rs.250/- per instance for outstation visit to customer premises whether any instalment is paid or not. |
|
BANKS |
INTEREST RATE |
|
Starts at 11.25% |
|
|
Starts at 10.85% |
|
|
Starts at 10.50% |
|
|
Starts at 11.25% |
|
|
10.65% to 16.25% |
|
|
Starts at 8.60% |
You are required to keep up with the IndusInd bank loan against property eligibility standards that is must for you in order to qualify for this loan without any hindrance.
Here is the IndusInd bank loan against property eligibility criteria:
Here are the documents required for IndusInd loan against property:
|
Documents |
Salaried Applicants |
Self Employed Applicants |
|
Identity Proof |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
Aadhar Card, Voter’s ID Card, Passport, Driving Licence |
|
Address Proof |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
PAN Card, Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills |
|
Income Proof |
Salary Slips, Bank Statements, Form 16 |
Balance sheet and profit and loss account, IT Returns, Business Proof |
|
Other Documents |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
Passport-size Photographs, Duly Filled Application Form, Any Other Documents Required by the Bank |
IndusInd loan against property EMI calculator allows you to find the cost of monthly loan instalments that you will have to pay. You can go to the official website of the bank to calculate the loan EMI. You need to enter the principal amount, interest and tenure to find out the payable amount.
To know your IndusInd loan EMI quickly, it is recommended to use the BankSathi loan against property EMI calculator. You have to fill in the loan repayment tenure and rate of interest charged by the lender alongside the principal amount and hit the “Calculate” button.
Here is how to apply for IndusInd loan against property:
If you want to apply for an IndusInd loan against property offline then all that you will be required to do is visit the nearest branch of IndusInd bank. When heading to the branch, make sure you carry all the required documents that need to be submitted with the loan application.
Here are the simple steps that you need to follow in order to apply for IndusInd loan against property online:
Once your IndusInd bank loan application is submitted to the bank, you get a call from the representative regarding the further loan application procedure. You can also reach out to the customer service of the bank and enquire about the loan application.
You can get in touch with the IndusInd bank customer support if you have any query/grievances or you need any assistance regarding the loan application.
Here is the IndusInd bank customer care number which you can dial:
18602677777
The IndusInd bank loan against property interest rates start at 9% per annum.
The IndusInd loan against property processing fee is 2% of the loan amount plus applicable taxes.
You can apply for an IndusInd bank home loan on the official website of the bank or you can go to the nearest branch of the bank with all the necessary documents.
You can offer residential or commercial property as collateral to the bank for IndusInd loan against property.
The maximum IndusInd bank repayment tenure ranges up to 15 years.
Last Updated on : 30/Apr/2021Know More About
You're eligible for a Indusind Bank Loan Against Property if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Loans Against Properties is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Indusind Bank Loan Against Property Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 9.5% - 13.5% |
| Processing Fees | Up to 2% of loan amount |
| Loan Tenure | 1 year to 15 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Loans Against Properties EMI Calculator