Indian Bank Mortgage Loan or Loan Against Property

 Indian Bank Mortgage Loan or Loan Against  resources 

  

  

Indian Bank offers Loan against Property/ Mortgage Loan for any kind of personal, professional or business needs and purposes including repairs/ renovation of home, wedding, education of children, foreign trip, medical emergency, purchase of asset, working capital need for business, business expansion, etc. Indian Bank provides customised Loan against Property solutions, best-in-class services and simplified loan process. It offers competitive, attractive and affordable interest rates on Loan against Property/ Mortgage Loan.

Why Indian Bank Loan against Property?

Indian Bank provides Loan against Property at an attractive interest rate for different needs of customers

Interest is calculated on a daily reducing basis

It has PAN India branch network provides easy access to the customers

Quick & Hassle-free processing

Easy and fast approval & disbursal of Loan against Property

It provides Flexible Repayment Options to the borrowers

Has  committed team of well-experienced employees

Transparent process with no hidden charges

Offers loan upto 70% of property value

Indian Bank Mortgage Loan  ability 

Age: Age of the applicant should be 18 to 60 years while  APEAL for Loan against Property.

 MAXIMUM Income: Loan OPPOSED TO Property is normally  availed by salaried and self  agest  query to meet their personal and business  condition .  accordant income of the borrower plays a vital role in deciding borrower's  ability for the loan.  maximum income of the  asker should be atleast Rs. 25000 to avail Indian Bank Loan against Property.

 maximum Work/ Job/ Business experience & Stability: Lenders are always watchful for how long you are in your current assignment/ job/ business. For applying for Indian Bank Loan against Property, you must have work experience of atleast 3 Years with a regular income.

Credit Score: Credit score shows the ability of loan repayment. Credit score ranges between 300 and 900. If you carry a decent credit score then you will get LAP comfortably with minimal  file . You should carry good credit score i.e. 650 or above to avail Indian Bank Loan against Property.

Property Value: Property value is a  contest factor in determining your  ability for LAP. In your loan  ability process location and type of property matter  contest . Whether the property is located in metro, urban or rural area and whether it is residential, commercial or industrial property, all these points are  contemlet by the lender in detail. Hence, you should be very careful about deciding about which property to be mortgaged for getting LAP.

Indian Bank Mortgage Loan Interest Rate

Interest rate is the  only cost of your loan which you need to pay on your  excellent loan amount till the end of your loan tenure. It is very important to compare interest rates on LAP offered by all the available banks before selecting the bank from which you want to opt for LAP.

Indian Bank offers Mortgage loan at the interest rate of 12.25% which is quite attractive. You are free to negotiate on interest rate provided you are carrying good Credit Score, Healthy Repayment History and Regular Income. Once you avail LAP, you need to repay the loan alongwith interest in the form of Equated Monthly Instalment (EMI) every month till the tenure of the loan. The EMI comprises of the principal and interest components.

If you are currently paying higher interest rate on LAP availed from any other bank than interest rate on LAP offered by Indian Bank, you can opt for balance transfer of loan to Indian Bank.

Indian Bank Mortgage Loan Amount

The decision of the loan amount what you want to apply for depends upon your requirement of funds, your income and repayment capability. Indian Bank Loan against Property loan amount ranges from a  maximum of Rs. 1000000 to a maximum of Rs. 20000000.

It is not  needy that whatever loan amount your are applying for is easily extended to you by the bank. Bank will first calculate your  ability for taking that loan amount  thought its loan approval process and then only decide upon the loan amount as per your  ability and will offer you.