Loan Against Property Balance Transfer @ Lowest Interest Rates In India
| Mortgage Loan With Lowest Interest Rates In India @ 8.95%*p.a. |
Loan Against Property Balance Transfer Meaning:
Loan against property is also referred to as Mortgage loan, and therefore a mortgage loan transfer from one bank to another bank in order to enjoy the benefits of loan against property lowest interest rate, to apply for a top-up loan and to enhance the mortgage loan tenure is referred to as Loan Against Property Balance Transfer OR Mortgage Loan Balance Transfer.
Loan Against Property Transfer Details
- Lowest Interest Rates – Interest rates starts from 8.95%*p.a.
- Flexible Loan Against Property Tenure – Loan against property maximum tenure available is for 20 years.
- Low Per Lakh Loan Against Property EMI – EMI for loan against property starts from Rs.897/-
- Processing Fees – Upto 1% on the loan amount.
- Nil part payment charges.
- Loan against property top up – Attractive rates for top-up starts from 9%*p.a.
- Maximum LTV of 70% for residential and commercial property & 55% for industrial property.
- Loan Against Property Processing Time – 15 to 20 working days.
- Loan against property overdraft facility available.
- Insurance for loan against property @ low premium per month.
| 50%* Off On Processing Fees For Mortgage Loan Above Rs.50 Lakhs |
Loan Against Property Minimum Interest Rates Of Top Banks For Balance Transfer
- Mortgage loan interest rates in ICICI Bank – 8.95%p.a.
- Mortgage loan interest rate in HDFC – 8.95%p.a.
- Loan against property rate of interest AXIS Bank – 9.55%*p.a.
- Loan Against Property CANARA Bank interest rate – starts from 9.80%p.a.
- Citibank loan against property interest rate – 9.50%p.a.
Note: Interest rates are subject to change without prior notice.
| Apply To Transfer Loan Against Property In HDFC Bank |
Loan Against Property Comparison Of The Top Banks For Loan Transfers
| Loan Against Property ICICI Bank | Loan Against Property HDFC Ltd. | Loan Against Property Canara Bank | |
| Rate Of Interest | 8.95% p.a. | 8.95% p.a. | 9.80% p.a. |
| Processing Fees | Upto 1% on loan amount. | Upto 1% on loan amount. | 0.50% on the loan amount. |
| Processing Time | 15-20 working days | 20-25 working days | 30 working days |
| Online Processing | Possible | Possible | Not Possible |
| Overdraft Facility | Available For Self-Employed | Not Available | Not Available |
CLICK to know further for selecting the loan against property best bank.
| Apply For Mortgage Overdraft Facility With ICICI Bank @ 9.90%*p.a. |
Loan Against Property Terms And Conditions For Loan Transfer
(You must fulfill the loan against property eligibility criteria in order to transfer your loan.) Bank’s loan against property guidelines for balance transfers:
- Must have a good repayment track record for 12months.
- Must have a regular flow of income.
- Must have a good CIBIL score.
- Must have income eligibility to transfer.
- Should not have high obligations.
- Business must be a profit making business for self-employed.
- There should be no overdue of the other loan accounts.
- Transfer of loan against property with bad credit is not possible.
- Property must be within the corporation city approved limits.
- Mortgage loan transfer for grampanchayat property is not possible.
- Top-up loan is subject to income eligibility and to the LTV norms.
- Top-up amount cannot be used for trading and speculative purposes.
- Must provide all relevant documents along with LOD, outstanding letter & 18 months repayment track record.
| Apply For Loan Against Property OF ICICI Bank @ 8.95%*p.a. |
Loan Against Property EMI Calculator
Calculate how much you can save on your EMIs with Loanfasttrack’s mortgage loan EMI calculator. Simply enter the loan amount, interest rate and loan tenure and compare the EMI difference with different loan tenures and rate of interest at just a single click.
Click to see how much you save.
Procedure For Loan Against Property Balance Transfer
- Click on https://www.loanfasttrack.com/mortgage-loan/apply-online-now.html
- Enter details – name, contact number, email-id & location.
- Submit the form.
- Select the bank from the list of banks to apply for.
- Submit the request.
- Loanfasttrack team will contact you within 24 hours of the request.
Loan Against Property Process By Loanfastrack
1) The mortgage loan transfer process starts by applying with the best bank for a mortgage loan, by submitting the required set of documents along with the loan against property application form.
2) Documents are checked for any queries.
3) FI (Field Investigation) visits will be arranged at residence & office address.
4) Property technical will be initiated. Property market value will be ascertained through technical visit.
5) Bank’s credit manager will call for personal discussions. Later the file will be forwarded for the sanction process.
6) The remaining processing fees will be collected after the loan is sanctioned.
7) Property legal will be conducted to be sure the property is a freehold property and has a clear and marketable title.
8) On successful sanction, technical & legal of the case the disbursement process starts. Disbursement is the final process of the transfer. You are required to submit the duly signed disbursement kit along with the photocopies of property papers. The submitted documents are once again scrutinized.
9) You will have to pay the relevant loan charges which includes the administrative legal and technical charge & stamp duty charges on the loan.
10) The cheque-cut will be done in the name of the bank from which your loan is being transferred.
11) Your original documents transfer will be conducted inter-bank.
Your loan is now transferred to a new bank with low interest rates on loan against property.
Loan Against Property Documents List For Balance Transfer
1) KYC- Pan card, Adhar card, residential & office proof.
2) Financial Documents –
- For Self-Employed- 3 years ITR with Saral Copy, Balance Sheet, P&L Account, Capital Account – CA certified with membership no. and UDIN No.
- For Salaried – 4 months Salary Slips, 6 months Bank Account Statement, 2 years From 16.
3) Property Documents – Prior Chain of Agreement, OC/CC + approved plans, Index 2, Share Certificate, Society Registration Copy, Property Tax.
4) LOD, Outstanding letter and 12-18months repayment track record.
Refer link
- https://www.loanfasttrack.com/blog/blog/finance/document-checklist-for-mortgage-loan-balance-transfer-for-salaried-customers/ for detailed list of documents required for loan against property balance transfers.
- https://www.loanfasttrack.com/blog/blog/finance/nri-list-of-documents-for-applying-mortgage-loan/ – NRI list of documents for applying for a mortgage loan.
- https://www.loanfasttrack.com/blog/blog/finance/document-checklist-for-top-up-for-salaried-customers/ – Top-up documentation for salaried.
Get easy assistance for transfer of your loan against your property with a bank providing the lowest interest rates in the market through Loanfoansttrack who have proved to be the best loan against property agents in Mumbai. Apply for low cost transfer of your mortgage loan @ lowest interest rate of 8.95% p.a. Speak to our experts today on 9321020476 (loan against property contact number) or email us on info@loanfasttrack.com. You can also drop a call back request on our website https://www.loanfasttrack.com/.
Loanfasttrack provides you hassle free services at your doorsteps with comparative evaluations of more than 13+ top banks, with no additional cost. Loanfasttrack is a loan against property DSA with leading banks in the mortgage industry namely, ICICI Bank, HDFC Ltd, Canara Bank, Citi Bank, Piramal Housing Finance, etc. Our specialized services includes providing:
- The best bank for home loan.
- Make you qualify for the maximum loan against property eligibility.
- Assured low interest rates for loan against property in Mumbai.
- Lowest home loan rates in Mumbai.
- Instant loan in Mumbai.
- Instant personal loan in Mumbai & business loan in Mumbai.
- Low cost home loan balance transfer.
Apply today before you miss the opportunity for attractive rates, offers & cashback offers. Click https://www.loanfasttrack.com/mortgage-loan/apply-online-now.html.
Loan against property market in India has anticipated to grow at alacritous rate post the reopening of the pandemic lockdown in the country as these loans come at a cheaper rate in comparison to the gold loans and unsecured loans such as personal loans, business loans, etc.