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Residence Mortgage Loan

A Mortgage Loan is a flexible financial option available to both entrepreneurs and individuals. It offers several advantages compared to other types of loans, such as longer repayment periods and lower interest rates. Borrowers can use the loan for various purposes, including personal needs, business expansion, starting a new venture, or fulfilling any specific financial requirements.

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Acceptance Criteria

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Age: The borrower must be at least 18 years old.

Credit Score: A good credit score (usually 650 or higher)

Employment Status: Lenders require borrowers to be employed or have a stable source of income (either salaried or self-employed).

Property Type: The property being mortgaged must be legally sound and free from disputes, and it must meet the lender’s criteria for eligibility.

Large Loan Amounts: Mortgage loans offer the ability to borrow a large amount of money, often up to 70-90% of the property’s value, making it easier for individuals to purchase high-value properties.

 

Loan Amount Offer
Loan Amount Offer upto : 10 crore
Rate of Interest(%)
Minimum ROI Start From : 10.50 % P.A.
Maximum ROI : 18.00 % P.A.
Tenure
Minimum Tenures : 10 Years
Maximum Tenure : 30 Years
Documents Required for Loan
Individual & Salaried Employee Self & Professional Employee Company Pvt. Ltd. & Public Ltd.
Primary KYC: Aadhaar Card, PAN Card Applicant KYC: PAN Card, Aadhaar Card Director & Partners KYC: PAN Card, Aadhaar Card, Voter ID
Co-Applicant KYC: Aadhaar Card, PAN Card, Voter ID Card Co-Applicant KYC: PAN Card, Aadhaar Card, Voter ID Company Certificates: CRC Certificate, TAN Certificate, Company PAN Card, Directors DIN Certificate, Board Resolutions, Shareholding Pattern, Partnership Deed
Income Proof: Last 3 months’ salary slip Income Proof: Last 2 years financial return, GST Return (3RB) Income Proof: Last 2 years financial return,  GST return of company
Residence Proof: Aadhaar Card, Voter ID, Electricity Bill, Rent Agreement, Gas Receipt, Post Mobile Bill, Property Tax Residence Proof: Aadhaar Card, Election Commission Card, Driving License, Gas Receipt, Passport, Rent Agreement (Any One) Residence Proof: Aadhaar Card, Election Commission Card,
Driving License, Gas Receipt, Passport, Rent Agreement (Any One)
Bank Statement: Last 6 months' bank statement Banking: Last 1 year bank statement (Current/Savings Account) Banking: Last 1 year bank statement (Current Account)
Photograph: Live photo Photograph: Live photo Photograph: Live photo
Business Documents: N/A Business Proof: Trade License, Shop Act, GSTN Certificate,
Food License, Business License, MSME Certificate, etc.		 Business Proof: Trade License, Shop Act, GSTN Certificate, Food License, Business License, MSME Certificate, etc.
Property Documents: Registry Copy, Property Transfer Certificate,Link or Chain Registry, Property Tax Receipt, Map of Property, TNCP Certificate, Building Permission, etc. Property Documents: Registry Copy, Property Transfer Certificate,Link or Chain Registry, Property Tax Receipt, Map of Property, TNCP Certificate, Building Permission, etc. Property Documents: Registry Copy, Property Transfer Certificate,Link or Chain Registry, Property Tax Receipt, Map of Property, TNCP Certificate, Building Permission, etc.
Golden Features and Benifits
  • Lower Interest Rates: Since the loan is secured by the property, the lender faces less risk and, therefore, can offer lower interest rates compared to unsecured loans.
  • Long Repayment Period: Mortgage loans come with flexible repayment tenures, ranging from 10 to 30 years, which reduces the financial burden by lowering monthly payments.
  • Tax Savings: Homeowners can save money on taxes through deductions on both principal and interest payments under applicable sections of the Income Tax Act.