AU Small Finance bank loan against property appears as a wonderful financial solution when you need money to look after a number of expenses. This loan makes an excellent way to generate funds when you have a commercial or residential property to offer as security to the bank. The bank provides loans against property at attractive interest rates for easy loan repayment tenure options ranging up to 20 years. Let us move ahead and know about this AU Small Finance Mortgage Loan in detail.
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Loan Amount |
As per the bank’s discretion |
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Interest Charges |
As per the bank’s discretion |
|
Processing Fees |
2% of loan amount plus applicable charges |
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Repayment Tenure |
Up to 20 years |
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Prepayment |
NIL on loan with floating rates For loan with fixed rates For prepayment within 12 months: 5% of principal outstanding For prepayment after 12 months: 3% of principal outstanding |
Here are the prominent features of AU Small Finance Against loan against property:
You can apply for an AU bank mortgage loan in order to fulfill your financial requirements to fund personal or business goals. In this loan, you have to provide your residential or commercial property.
AU Small Finance bank offers the minimum loan against property amount of Rs 2 lacs. The loan amount is also determined by multiple factors which includes your income, existing loans and repayment track.
The bank offers a rate of interest on loan against property starting from 10.05% per annum. The loan interest rates are subject to many varying factor such as applicant’s eligibility profile, existing loans, relationship with the bank etc.
AU Small Finance loan against property allows borrowers to avail the repayment tenure ranging from one year to 20 years.
The lender allows borrowers to make prepayment of their loan against property. However the bank charges a prepayment fee for different outstanding loan amounts. Here are the AU Small Finance home loan prepayment charges:
To apply for a mortgage loan, you have to pay fees and charges applied by the AU Bank. It covers all charges and fees made by a bank to their customers.The following charges are taken from AU Bank i.e joining fee, annual fee, interest rate, late payments charges etc.
|
TYPE |
CHARGES |
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Maximum Loan |
Upto 10 crore |
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Maximum Loan Tenure |
15 years |
|
Interest Rate |
11% to 15% per annum |
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Pre-closure charges |
1% to 4% of the amount |
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Processing Fee |
1.5% of the loan amount |
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Penal Interest |
Up to 2% including the tax |
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Late Payment Charges |
3% per month |
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BANKS |
INTEREST RATE |
|
Starts at 11.25% |
|
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Starts at 10.85% |
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|
Starts at 10.50% |
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|
Starts at 11.25% |
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|
10.65% to 16.25% |
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|
Starts at 8.60% |
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Starts at 9.00% |
Meeting the AU Small Finance loan against property eligibility requirements is an essential step to qualify for the AU bank home loan easily. The eligibility criteria involves factors like age, income and employment status. It is best that you go through the criteria before applying for the loan.
Here is the AU Small Finance home loan eligibility criteria:
Here are the documents that you are required to submit at the time of AU bank mortgage loan application:
|
Documents |
Salaried Applicants |
Self Employed Applicants |
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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 |
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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 |
AU Small Finance loan against property calculator can be really helpful in knowing the monthly cost of the loan you are applying for. It then helps you lay the budget plan better and pick the suitable loan tenure.
You can use the AU Small Finance home loan EMI calculator in order to calculate the payable monthly instalments for your AU bank loan.
It is recommended that you use BankSathi loan against property EMI calculator where you need to enter the principal amount and interest rate along with the tenure and hit the “Calculate” option.
The BankSathi home loan EMI calculator will give you the monthly cost of your loan against property as well as the yearly calculation for the same.
Here are the ways to apply for AU Small Finance home loan:
If you want to apply for an AU Small Finance mortgage loan offline then all you have to do is head to the nearest AU Small Finance bank branch. The bank representative will guide you through the loan application. You must have all the documents ready at the time of loan application procedure.
Here is how to apply for AU Small Finance mortgage loan online:
If you need any further information/help regarding the AU Small Finance loan against property, then you can reach out to the AU Small Finance customer care.
Here is the AU bank customer support number which you can dial to reach out to the bank:
1800 1200 1200
The amount offered by the bank on loan against property is dependent on the factors including the property, your income, repayment history, existing liabilities etc.
The AU Small Finance mortgage loan interest rates start from 10.05% per annum.
Here are the different platforms to apply for AU Small Finance loan against property:
The bank does not charge any prepayment fee for home loan at a floating rate.
In case of loan with fixed rates, the bank charges a m fee of 5% of the outstanding amount for prepayment within 12 months and 3% of the outstanding amount for prepayment after 12 months.
You can do the following to track AU Small Finance loan application status:
Know More About
You're eligible for a Au Small Finance Bank Mortgage Loan 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 Mortgage Loan 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
| Au Small Finance Bank Mortgage Loan Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 11% - 15% |
| Processing Fees | 1.5% of the loan amount |
| Loan Tenure | 1 year to 15 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
Mortgage Loan EMI Calculator