Mortgage Loan FAQs

"You can start the process of applying for a Mortgage Loan in any of the following ways: • By applying Online with ApnaLoanBazaar, Click Here to Apply or by write a mail to care@apnaloanbazaar.com or calling us on 040 65555578"

Axis Bank will convey its decision within 15 working days from the date of receipt of the application provided the application is complete in all respects. The computation of 15 days shall starts from the day on which all documents required for a proper appraisal of the application are provided by the Customer to bank.

"A Loan Against Property (LAP) has many advantages over a Top-up Loan. They include: • A Higher Loan Amount: Typically, an LAP may offer a higher loan amount than a Top-up Loan. • Avail of Different Property: While an LAP can be availed of against a different residential or commercial property than the one for which the loan was originally taken, a Top-up Loan may only be taken against the property already in question. This flexibility allows you to both avail of a higher loan amount and spread your liability. • Longer tenure: An LAP can be availed for a long term than a Top-up Loan."

Axis Bank Loan Against Property can be availed for a self-occupied residence or a commercial property.

"At Axis Bank, you can get a Loan Against Property from Rs. 2 lakhs to Rs. 500 lakhs. Some of the factors we consider when deciding a loan amount are: • The property’s registration • The property’s market value • Your requirement and eligibility • Your income and repayment capacity"

Yes! An Axis Bank Loan Against Property can be availed of either as a Term Loan with an EMI repayment option or as a Drop-line Overdraft Facility.

Yes! Axis Bank provides LAPs for salaried NRI customers.

"Along with your application you need to submit the following documents : • Proof of residence • Proof of identity • Certified/latest financial documents • Copies of all property documents"

"You may get the List of Documents in either of the following ways: • By calling any of Axis Bank toll free numbers: 1800 233 5577 or 1800 209 5577 or 1800 103 5577. • By using your registered email id to write to Axis Bank at: loans@axisbank.com "

"Yes, banks charge a non-refundable processing fee for every LAP application. The processing charge to avail of an Axis Bank Loan Against Property is up to 1% of the loan amount plus service tax as applicable."

"The EMI consists of the principal amount and the interest on the principal amount. It is calculated by taking into account the loan amount, the time frame for repaying the loan and the interest rate on the borrowed sum. The EMI may be subject to change when interest rate changes or a part-payment of the Loan is made. Every month, part of the EMI is adjusted towards the interest payable and the balance is adjusted towards repayment of the principal."

The EMI will be due on a fixed date each month. You will be notified of this date when your loan amount is disbursed.

"You may place request for Statement of Acccount or Repayment Schedule or Interest Certificate in either of the following ways: • By calling Axis Bank Call Center at any of these toll free numbers: 1800 233 5577 or 1800 209 5577 or 1800 103 5577. • By using your registered email id to write to Axis Bank at: loans@axisbank.com"

Yes! After the first quarter from the loan disbursal date, you can make a part-prepayment towards your Loan Against Property at your nearest Axis Bank Loan Center.

"You may repay your Axis Bank Loan Against Property in any of the following three ways: • Standing Instruction (SI): This mode can be used if you have an existing savings, salary, or current account with Axis Bank. You may wish to open a savings account with Axis Bank to use this option. Your EMI amount will be debited automatically at the end of the monthly cycle from the Axis Bank account you specify. • Electronic Clearing Service (ECS): This mode can be used if you have a non-Axis Bank account and would like your EMIs to be debited automatically at the end of the monthly cycle from this account. • Post-Dated Cheques (PDCs) : You can submit post-dated EMI cheques from a non-Axis Bank account at your nearest Axis Bank Loan Center. A fresh set of PDCs will have to be submitted in a timely manner. Please note Post Dated Cheques will be collected non-ECS locations only. *Axis Bank recommend that you opt for either the SI or ECS mode of payment as they are both faster and less prone to error than the use of PDCs."

"You may update your mobile number and email address in either of the following ways: • By calling any of Axis Bank toll free numbers: 1800 233 5577 or 1800 209 5577 or 1800 103 5577. • By using your registered email id to write to Axis Bank at: loans@axisbank.com"

"Before process a foreclosure, all outstanding dues must be cleared. So Axis Bank request you to first check for and clear any remaining amount that may be payable towards your Loan Against Property Loan by requesting a foreclosure statement from your nearest Axis Bank Loan Center. Once all outstanding dues have been cleared, please submit a foreclosure request at the Loan Center for processing your request."

Once your loan account is closed, you may collect your property documents after 16 days from your nearest Axis Bank Loan Center.

"A Loan Against Property as the name suggests is a loan given against the mortgage of property. Generally speaking, you can avail a loan against property for any of the following: 1. Loan Against Commercial Property 2. Loan Against Residential Property 3. Loan for Purchase of Commercial Property 4. Loan Against Plot 5. Lease Rental Discounting "

"A Loan against property is for professionals, self-employed, individuals with high net worth, salaried people, Proprietary firms, Partnership firms, Companies (Pvt. /Public Ltd.,) and NRIs - subjected to compliance of Bank’s/RBI guidelines. You can apply online for a loan against property while there are always options to visit the branch or even call or SMS and get the representatives to attend to you at a place and time of your convenience. "

Bajaj Finserv has a diversified portfolio for Loan Against Property where you can avail Mortgage Loan Against property, Loan Against Plot, Loan Against Commercial or Residential Property or even a Loan for Purchase of Plot. Bajaj Finserv offers attractive Loan Against Property interest rates with nominal fees and charges. Feel free to use our Loan Against Property EMI Calculator for further estimates.

Loan Against Property has its own set of documents, eligibility criteria and mortgage requirements. In order to read about documents required for Loan Against Property as well as to check eligibility criteria in detail, please click here

Citibank Loan Against Property are available from Rs5 Lakh to Rs5 Crore against Residential properties. You can also avail a Loan Against Property up to Rs3 Crore against commercial properties.

Citibank Loans against Property have maximum repayment tenure of up to 15 years. The actual tenure of your loan is subject to the application meeting Citibank credit acceptance parameters.

The property against which the Loan Against Property is sought can be based out of any of the following approved Citibank locations - Ahmedabad, Bangalore, Chennai, Delhi / NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune, Coimbatore, Chandigarh and Surat.

Based on the valuation of your property and the loan amount sought, you can avail a Citibank Loan Against Property of up to 70% of your property value. The actual loan to value ratio of your loan is subject to Citibank credit acceptance parameters

You should be at least 23 years of age and have a continuous work experience of at least 3 years and 2 years of cash profit in your business, excluding carry forward losses to avail a Loan Against Property from Citibank.

Yes, a top-up loan can be availed on your existing Citibank Loan Against Property. Once you have completed repayments on your existing loan for more than 6 months, we can offer you an additional top-up loan on your existing loan. The final sanction of such loan is at the discretion of Citibank.

EMI stands for Equated Monthly Installments. This installment includes both the Principal and Interest Components. Citibank Loans against Property are repaid through EMIs (Equated Monthly Installments) over the period of the loan. The table below shows indicative EMIs for different periods for a loan of Rs1 lakh and interest rate of 10%. Click here to find out the EMI on your loan.

Citibank offers you a host of repayment options for your loan EMI. You can pay your EMI through: SI (Standing Instruction) on your Citibank account or through NACH (National Automated Clearing House).

Yes, you are allowed to prepay your loan. You can also choose to make partial prepayments on your Loan Against Property. Please refer to the Terms and conditions mentioned in the loan agreement to know more about the applicable charges on loan prepayments.

Yes, you can! You can opt for Citibank Home Credit to further reduce the interest cost on your Loan Against Property. To know more, click here

You can get a Loan against Property up to a maximum of 70%* of the market value of your property for Residential Premises and up to a maximum of 60%* of the market value of your property for Commercial Premises. * Conditions apply

You can avail a Loan against Property for any personal or for business purposes provided the end use is not for any speculative or prohibitive reasons.

Repayment will commence in the month subsequent to the month in which the loan has been disbursed.

The repayment of loan is done through Equated Monthly Instalments (EMI). It can be paid through CTS compliant Post Dated Cheques (PDC) or through Electronic Clearance System (ECS).

The security for the loan will be the first mortgage of the property to be financed, normally by way of deposit of Title Deeds and/ or such other collateral security, as may be necessary. The title to the property has to be clear, marketable and free from encumbrance. In other words, there should not be any existing mortgage, loan or litigation which is likely to affect the title to the property adversely.

Loan eligibility is usually calculated basis the repayment capacity of the borrower. Repayment capacity can be ascertained based on factors such as income, age, qualifications, spouse's income, etc. We recommend you to speak to your nearest Fullerton India Relationship Manager to understand the same.

The loan would be disbursed directly to your operating bank account.

The loan can be for a maximum tenure of 15 Years or up to a maximum age of 65 at maturity of the loan.

The loan is disbursed into your account post approval, compliance of the Loan Agreement and Legal formalities and after the property that is being mortgaged has been technically and legally appraised.

Yes, you can repay your loan at any time during the loan tenure. However prepayment is not permitted within 12 months from loan disbursal date.

You can provide your self-occupied Residential or Commercial property (Shops and Offices) as collateral.

You may refer to the "Fees & Charges" option under the product "Loan Against Property" and "Loan Against Rental Receivables".

You may refer to the "Fees & Charges" option under the product "Loan Against Property" and "Loan Against Rental Receivables".

A Loan Against Property can be availed as a Term Loan with EMI repayments or as a Drop line Overdraft Facility.

A Loan Against Rent Receivables can be sanctioned for a minimum tenure of 12 months and a maximum tenure of 108 months. This however depends on the balance lease period and other parameters.

You can get a Loan Against Property up to a maximum of 60%* of the market value of your property.

"You can apply for a loan in the following ways: • Fill in the online application form and our representative will get in touch with you • Call one of our PhoneBanking numbers provided on the website • Visit your nearest branch • Our existing liability customers may also get in touch with their Relationship Managers/ Personal Bankers to know more and apply for LAP "

Kindly submit a written request to your nearest Retail Loan Service Centre to close your account. Our customer service desk will provide you with the necessary assistance.

PDC stands for Post dated cheques. PDCs are collected for repayment of EMIs.

Applications would be decisioned within 7 days, and in cases which involve customer availability for completing a field investigation or title search and valuation of a property, within 25 days.

"In order to change your address in our records, you may visit the nearest Retail Loan Service Centerand submit the following documents: • Request form for Address Change. • Self Attested copy of your revised address proof along with the original address proof for validation. • In case a bearer submits the request on your behalf, a bearer authorisation along with KYC documents(self attested copy and original for validation) of the bearer, i.e. Identity and Signature Proof like PAN Card, Aadhar Card, Driving License or Passport Copy will also need to be provided. "

Post Dated Cheques(PDCs)/Security Cheques submitted towards loan repayment that have not been encashed, will be defaced and retained by the Bank. In case, you wish to have your old Post Dated Cheques(PDCs)/ Security Cheques to be returned to you, kindly lodge a request at the Retail Loan Service Center or through PhoneBanking or write us an email at www.apnaloanbazaar.com within 45 days from the date of application of change in repayment instructions. In case, we do not hear from you within the stipulated period, the defaced cheques will be destroyed.

In the event that you wish to change the mode of repayment/bank account for your loan repayment, you may visit the nearest Retail Loan Service Center and submit your request with the revised account mandate/instructions.

A service charge of Rs.500 is applicable for changes in loan repayment instructions issued from non-HDFC Bank Account (ECS or PDC facility). A cheque/payorder/demand draft for Rs. 500 favouring "HDFC Bank Ltd Loan Account No. << >>" will be required along with the revised set of repayment instructions.

In case you wish to foreclose your Loan Against Property, the foreclosure charges are applicable on the outstanding principal or Outstanding Limit as the case may be.(Pre-payment is allowed only after 6 months from the date of loan disbursement).

You may refer to the "Fees & Charges" option under the product "Loan Against Property" and "Loan Against Rental Receivables".

You can avail of Loan against Property against Residential & Commercial Property for either your personal or business activities other than speculative or non prohibitive activities.

IDBI Bank will decide the loan amount based on your repayment capacity. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history. However the eligibility of loan shall not exceed 85 per cent of the cost of property.

You can include your spouse as a co-applicant for the Loan. His / her income can be added to enhance the loan amount. However all co-owners of the property should necessarily be the co-applicant.

A Processing fee of up to 1.00 % of the loan amount applied.

Interest is calculated on daily reducing balance. Your monthly out-go (equated monthly installment - EMI) is much lower as compared to the interest on annual reducing balance.

You can repay the loan over a maximum period of 15 years. Repayment will not ordinarily be extended beyond the age of retirement (if you are employed) or on your reaching 60 years of the age, whichever is earlier. However, IDBI Bank will be endeavoring to determine the repayment period to suit your convenience.

You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement.

Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI.

"The security for the loan will be the first mortgage of the property(Equitable mortgage by Memorandum of Entry) to be financed, normally by way of deposit of title deeds and/or such other collateral security, as may be necessary. Collateral security for by way of assignment of insurance policy or any such other assignable financial instruments are also required, as security to loan if deem necessary by the Bank. Please do ensure that the title to the property is clear, marketable and free from encumbrance. To elaborate, there should not be any existing mortgage, loan or litigation which is likely to affect the title to the property adversely. "

Yes. You can repay the loan ahead of schedule. No Prepayment / Foreclosure charges after expiry of 6 months of final disbursement, if the borrower pays from his own source of funds.

You will have to ensure that the property is duly and properly insured for fire and other appropriate hazards, as required by IDBI Bank, during the tenor of the loan and to produce evidence thereof to the Bank each year and/or whenever called upon to do so

Yes. These policies will be reviewed periodically.

The repayment capacity of the applicant(s) based on Resident status is reassessed and a revised repayment schedule worked out. The new rate of interest will be as per the currently applicable rate of Resident Indian loans (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted. A letter is given to the customer confirming the change of status.

LAP (Loan against property) can be applied for if you are in need of funds for your business or personal use and possess property

A consistent upswing in the property prices makes it the ideal asset to capitalize for business expansion or personal needs. Since OD/CC loans claim monthly EMI, the liability carries on for an indefinite period; where as in LAP one pays regular EMI and reduces the burden in an organized manner.

IBHFL offers LAP up to a maximum of 15 years, provided the term does not extend beyond 65 years of age or the retirement age, whichever is earlier.

Interest is calculated on a monthly basis.

"Your spouse Any blood relative (immediate family members) Also co-owner of the property has to necessarily be a co-applicant for the loan. "

Any immovable property owned by the applicant. The applicant's title to the property should be clear, marketable and free from any encumbrance. The security created on property shall be first and exclusive. Such security will be created by deposit of original title documents of the said property.

LAP is usually a property backed loan with a high quantum of loan, whereas unsecured/PL is mostly an unsecured loan with low quantum. Tenure offered in LAP vis a vis unsecured/PL is higher which reduces the EMI burden and repayment can be made in a longer term. Furthermore, the interest rate is generally lower in LAP loans than in PL loans.

"• Application submission - Submit a completely filled in application with all the necessary documents. • Sanction - You get an approval for a specific loan amount based on your requirement, repayment capability and the value of the property. • Disbursement is done on the basis of nature of transaction. For Balance transfer cases it will be favoring existing financer, for self-consumption cases it will be favoring the borrower."

An Equated Monthly Installment (EMI) has 2 components: interest and principal. When the interest is calculated on monthly rests, the principal on which the interest is charged goes down every month. This results in significant savings for the customer over the tenure of the loan. IBHFL works on the Monthly Rests basis.

An amortization schedule is a table giving the reduction of your loan amount by monthly installments. The amortization schedule gives the break-up of every EMI towards repayment interest and outstanding principal of your loan.

You repay your loan in Equated Monthly Installments (EMIs) comprising of principal and interest. Repayment by EMI commences from the month after you take full disbursement.

In case of Commercial Property Loans or Loans against an existing property you can borrow up to 55% of the cost of the property.

Your repayment capacity as determined by Kotak Mahindra Bank will help decide how much you can borrow. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependent's, spouse's income, assets, liabilities, savings history and stability, and continuity of occupation.

You can opt for a loan period of up to 12 years, which can vary depending on the purpose of the loan and your profile.

If you are an individual – your spouse, your parents, or even your major children can be your co-applicants. The co-owner of a property has to be a co-applicant, but a co-applicant need not be the co-owner of the property.

You can take the disbursement after credit, technical and legal appraisals of the property have been done, besides execution of relevant documents & deposit of original property documents is required to be completed prior to disbursement. Further, you should have invested your own contribution amount towards the property. 'Own contribution' is the difference between the cost of the property and the loan amount.

The loan will be disbursed in full or in suitable installments taking into account requirement of funds and progress of construction, as assessed by Kotak Mahindra Bank.

Yes, very much so. In many states in India, the agreement for sale between the builder / seller and the purchaser is required by law to be registered. You are advised, in your own interest to lodge the agreement for sale at the office of the Sub-registrar appointed by the State Government under the Indian Registration Act, 1908.

Your home is your pride and joy. Don't let unplanned events take it away. Property insurance will take care of home in case an unforeseen event strikes. That way, you'll always have peace of mind knowing that you and your loved ones will be assured of a roof over their heads.

"In most cases, the property itself, bought or intended to be bought, becomes the security till the entire loan is repaid. In some cases additional security such as life insurance policies or Term Deposit receipts of Kotak Mahindra Bank (if available) can be provided. "

Yes. You can repay the loan ahead of schedule. An early redemption charge is payable as applicable.

Both Residential and Commercial property is acceptable for Loan Against Property. The property may be self-occupied or rented. Mixed use property is also acceptable.

Yes. You can transfer your existing Loan Against Property from any other financier to RBL (Balance Transfer) and avail of additional refinance.

The Loan Amount would depend on the type of property. For a Self-occupied Residential property upto 65% of the market value of the property can be borrowed.

In case of salaried applicants, salary of upto 2 applicants can be clubbed. In case of non-individual applicants, salary of partner/director can be clubbed along with the income of the firm.

No. There is a separate surrogate program for LAP where other parameters would be considered instead of the applicant’s income.

No foreclosure is allowed before the loan has completed 6 months. However, you can prepay the Loan Against Property after having paid 6 EMIs with applicable foreclosure charges (plus Service Tax at the prevailing rate). Please refer to the schedule of charges for more details.

You get the benefit of easier documentation if you have a Current / Savings Account with RBL Bank. You can avail of paying your EMI through Standing Instructions to debit your RBL Bank Account for the loan. This will be taken into consideration at the time of disbursal of the loan.

The tenure is between 12 months to 120 months for different product categories.

"Apply online through our website – www.apnaloanbazaar.com Email : Care@apnaloanbazaar.com Call : Customer Care Number 040 65555578 Visit : Any of our branch"

"Application Form KYC Financials Banking * Conditions Apply"

". Self Employed professionals 2. Proprietorship Firms 3. Partnership Firms 4. Private Limited Companies 5. Limited Companies"

"All our loans are priced to risk assessment. Floating Rates Products : SME- Mortgages, SME - EDI and SME Equipment Finance Fixed Rates Products : SME-Unsecured WC, SME- Commercial Assets and SME-Loan against Marketable Securities"

An amortization schedule provides EMI repayment and detailed break up of principal outstanding and interest payable every month throughout the loan tenure.

"There are three main stages - Loan Application Loan Sanction Loan Disbursement All our customers are informed about these stages through a dedicated SMS facility. "

Yes, you can pre-pay the loan subject to pre-payment conditions.

At the time of expiry of the loan tenor and repayment of all the dues, your loan gets closed and the property collateral along with NOC is provided by you is returned back free of all charges. Once the loan tenure is complete and there are no dues to RFL, your loan account gets closed and a No Objection Certificate( NOC) is issued to you along with the original property documents which were submitted with RFL as collateral at the time of disbursal of loan, within 15 working days.

Loan against property is a loan extended on a pre-owned property (Residential, commercial and alternate property) for a legitimate end use that is disclosed upfront. It is a loan against secured/free-of-charge market value of a property.

You can avail loans ranging from Rs.5 lakhs to Rs.5 crores depending on your collateral property value, income eligibility and repayment capacity.

The loan can be repaid over a period of 12 to 180 months.

"1% - 1.25% of the Loan amount is collected from the customer depending on property type. Lucrative Processing Fee options are available for key corporates. The fees are collected in the following manner: A non refundable Processing Fee of Rs.1000/- (Flat including Service Tax) for loan amount up to Rs.3.00 Cr and Rs. 5000 (Plus service tax) for loan amount greater than Rs. 3.00 Cr is payable upfront with the application form. Further, processing fees as per grid will be payable post sanction and prior to disbursement of the loan. "

You may repay through ECS (Electronic Clearance System) by instructing your banker to deduct the EMI (Equated Monthly Instalment) from the nominated bank account or you may repay the loan through post-dated cheques favouring Tata Capital Financial Services Limited ("TCFSL").

Tata Capital assess the applicants' repayment capacity and the proposed collateral property value while deciding on the loan eligibility. Repayment capacity is based on factors such as applicant and co-applicant's income, age, number of dependents, financials, banking habits, loan repayment history and business/employment stability.

Yes, you can prepay your outstanding loan amount in parts or in full. Prepayment charges as applicable would be levied on the outstanding loan amount.

You can apply for the loan by writing to care@apnaloanbazaar.com or calling us on 040 65555578

Self-occupied residential property, commercial property (offices, shops etc.) and alternate property (Residential Plots, Schools, hospitals, Industrial Property, hotels) can be considered as collaterals.

Yes, you can. However, all the co-owners of the property will also have to become co-applicants of the loan.