Religare Finvest Mortgage Loan Interest rates in Ahmedabad
| builders | corporates | individuals | |
|---|---|---|---|
| Commercial Properties | 11.50% | 11.50% | 11.00% |
| Residential Properties | 11.25% | 11.25% | 10.75% |
Loan To Value (LTV) For Religare Finvest Mortgage Loan in Ahmedabad
| builders | corporates | individuals | |
|---|---|---|---|
| Commercial Properties | 50.00% | 50.00% | 55.00% |
| Residential Properties | 65.00% | 65.00% | 70.00% |
Features of Religare Finvest Mortgage Loan Ahmedabad
| Type | Features |
|---|---|
| Processing Fee | Upto 3.0% |
| Pre Closure Charges | 4.0% |
| Part Payment Charges | 2.0% |
| Min Tenure | 5 Years |
| Max Tenure | 10 Years |
| Min Age | 23 Years |
| Max Age | 60 Years |
| Min Loan Amount | Rs.15,00,000/- |
| Max Loan Amount | Rs.25,00,00,000/- |
Religare Finvest Mortgage Loan Ahmedabad Charges
| Type | Charges |
|---|---|
| Penal Interest | 2.5% Per Month |
| Duplicate Statement Charges | Rs.500/- |
| Insurance Cover | Upto Loan Amount |
| Inspection Charges | Free |
| Legal Opinion Valuation Charges | Free |
| Bounce Cheque Charges | Rs.500/- |
| Switch Variable To Fixed | 2% on Pricnipal Outstanding |
| Switch Fixed To Variable | 2% on Pricnipal Outstanding |
| Photocopy Documents | Rs.1000/- |
| Charge For Exchanging E C S Mandate | Rs. 500/- |
| Repayment Schedule Charges | Free |
| Loan Re Schedulement Charges | Rs.10,000/- |
| N O C Issuance Charges | Rs.500/- |
| C E R S A I Charges | Max of Rs. 100 |
Documentation For Mortgage Loan
For Salaried Persons
- Filled Application form
- Identity Proof (PAN CARD)
- Address Proof
- Latest 3 months Payslips
- Job Continuity Proof
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
For Self Employed/Professionals
- Filled Application form
- Identity Proof
- Address Proof
- Last 2 years Income Tax Returns
- Professional/Self employed existence proof for more than 3 years
- 2 Passport Size colour Photographs
- Co-Applicant identity proof, Address Proof
- Co-Applicant relationship Proof and Photograph
- 6 months Bank Statements
- 3 Post Dated Cheques/ECS Mandate
- Property Related documents
Identity Proof For Mortgage Loan
- Passport
- Driving License
- PAN card
- Photo credit card (with embossed Signature and last two months statement)
- Banker's sign verification
Age Proof For Mortgage Loan
- PAN Card
- Passport
- License
- School leaving certificate
- Voter card
- Birth Certificate
- LIC policy (only for age Proof)
Address Proof For Mortgage Loan
- Passport
- Telephone bill (BSNL/MTNL)
- Electricity bill
- Title deed of property
- Rental agreement
- Driving license
- Election ID card
- Photo-credit card (with last two month statements)
Income Proof For Mortgage Loan
- Latest salary slip
- Current dated salary Certificate with latest form 16.
- Latest year IT Returns with Tax Audit reports(For Self Employed applicants)
Job Continuity Proof
- Form 16
- Relieving letter
- Appointment Letter (for last two months)
- Last 6 months of VAT/Service Tax returns (For Self Employed Applicants)
Religare Finvest Mortgage Loan FAQ's
What is the loan repayment tenure?
The tenure is between 12 months to 120 months for different product categories.
How can I apply for a RFL Loan?
"Apply online through our website – www.apnaloanbazaar.com Email : Care@apnaloanbazaar.com Call : Customer Care Number 040 65555578 Visit : Any of our branch"
What is the documentation* required for availing loans ?
"Application Form KYC Financials Banking * Conditions Apply"
Who all can Apply for loans from RFL?
". Self Employed professionals 2. Proprietorship Firms 3. Partnership Firms 4. Private Limited Companies 5. Limited Companies"
What are the interest rate options available ?
"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"
What is an amortization schedule?
An amortization schedule provides EMI repayment and detailed break up of principal outstanding and interest payable every month throughout the loan tenure.
What are the various stages involved in availing the loan?
"There are three main stages - Loan Application Loan Sanction Loan Disbursement All our customers are informed about these stages through a dedicated SMS facility. "
Can I pre-pay my loan?
Yes, you can pre-pay the loan subject to pre-payment conditions.
What are the next steps post my loan tenure is complete?
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.
About Religare Finvest
Religare Finvest Highlights
About Other Banks
Bajaj Finserv
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DHFL
Citi Bank
Dcb Bank
IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Standard Chartered Bank
Avanse
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Fullerton
TATA Capital
Credila
HDFC Limited
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Indiabulls Housing Finance
Yes Bank
Canara Bank
Bank of Baroda
Things Keep In Mind While Avail a Mortgage Loan
A mortgage is actually made up of several parts – the collateral you used to secure the loan, your principal and interest payments and insurance.
Since most mortgages last 10 to 15 years of monthly payments, you should understand the how exactly it will works for you.
Type of Collateral You Are Offering
Principal And Interest
The principal is simply the sum of money you borrowed on mortgage.
Interest is what the lender charges you to use the money you borrowed, usually expressed as a percentage called the interest rate.
Principal and interest comprise your monthly payments in a process called amortization, which reduces your debt over a fixed period of time. With amortization, your monthly payments largely go toward paying off the interest in the early years, and gradually reduce the principal later on.
Factors That Affect your Loan Interest Rates
Expert Advice
Best Practices for Mortgage Loan
Things not to do for Mortgage Loan
Mortgage Loans Vs Lease Rental Discounting
| Lease Rental Discounting | Mortgage Loan |
|---|---|
| Lease Rental Discounting (LRD) will be based on the actual rental you are receiving on the property. | Mortgage loans will be provided based on already owned property. |
| There is no restriction on LRD loan usage. It can be used for any purpose. | There is no restriction on mortgage loan usage. It can be used for any purpose. |
| Lease Rental Discounting (LRD) will be provided for max of 10 years, However it depends on the rental agreement Tenure. | Mortgage loans will be restricted to max of 10 years of term, which will be varying from bank to bank in India. |
| Interest rate will be very from 11.00% to max of 15.00% based on the bank to bank. Generally Lease Rental Discounting (LRD) will be fixed interest loans. | Interest rate will be very from 10.5 % to max of 15% based on the bank to bank. Generally mortgage loans will be fixed interest loans. |
| The money received from the LRD will be used for any purpose. There is no end use restriction on the amount. | If the money received from a mortgage loan is used for business purposes, the interest can be claimed as an expense on the balance sheet of the business. |
| Loan can be availed up to max of Rs. 20.0 Cr under Lease Rental Discounting (LRD). | Mortgage Loans can be avail up to Rs. 30.0 Cr based on the type of property and its usage and value of property and eligibility of applicants as per banks norms. |
| There will be pre payment changes will be applicable for Lease Rental Discounting (LRD). This will be vary from 1% to 4% as per bank internal guidelines. | There will be pre payment changes will be applicable for mortgage loans. This will be vary from 1% to 3% as per bank internal guidelines. |
| Part/Pre Payments will be allowed based on the internal policies of the banks for Lease Rental Discounting (LRD). | Part/Prepayment will be allowed as per bank internal policies for Mortgage loans. |
| Lease Rental Discounting (LRD) eligibility depends on the type of tenant and credibility of tenant. | Mortgage loans also avail with the joint eligibility as company and director or blood relatives. |
| Banks can consider 90% of the Lease Rental value as repayment for loan under the Lease Rental Discounting (LRD) . | In Mortgage Loan max of 65% property value can avail as a Loan based on the type of property. |
| You can avail a top loan facility on your Lease Rental Discounting (LRD). | Top up facility will be varying from bank to bank internal guidelines. |
About Ahmedabad
Ahmedabad is the largest city and former capital of Gujarat, which is a state in India,it is located on the banks of the Sabarmati River. Ahmedabad is also known as Amdavad by fellow Amdavadis and population of more than 6.3 million and an extended population of 7.8 million, it is the sixth largest city and seventh largest metropolitan area of India. In Ahmedabad Cricket is a popular sport in Ahmedabad, which houses the 54,000-seat Sardar Patel Stadium.
Ahmedabad begins in the eleventh century with the Solanki King Karandev I, ruler of Anhilwara. He waged a war against the Bhil King Ashapall or Ashaval and after his victory established a city called Karnavati on the banks of the Sabarmati at site of modern Ahmedabad. The history of Ahmedabad dates back to 15th century when it was known as Karnavati after the name of the King Karandev, the ruler of the place. Later when Sultan Ahmed Shah, medieval ruler of Gujarat, conquered the place it was renamed as Ahmedabad. The city was spacious and built to the east of Sabarmati. There is a fort known as Bhadra Fort which is enclosed by 12 gates.
Other Cities Loan Offers
Places To Be Visited In Ahmedabad
Sabarmati Ashram
This ashram was Gandhi's headquarters during the long struggle for Indian independence. His ashram was founded in 1915 and still makes handicraft, handmade paper and spinning wheels. Gandhi's spartan living quarter are preserved as a small museum and there is a pictorial record of the major events in his life.
Jama Masjid
The Jama Masjid, built in 1423 by Ahmed Shah, is beside Mahatma Gandhi Rd, to the east of the Teen Darwaja. Although 260 columns support the roof, the two 'shaking' minarets lost half their height in the great earthquake of 1819, and another tremor in 1957 completed their demolition. Much of this early Ahmedabad mosque was built using items salvaged from the demolished Hindu and Jain temples. It is said that a large black slab by the main arch is actually the base of a Jain idol, buried upside down for the Muslim faithful to tread on.
Hathee Singh Jain Temple
Hathee Singh Jain Temple was built outside Delhi Gate in 1850 by a rich Jain Merchant. This is the best known of Ahmedabad's many ornate Jain Temples. Built of pure white marble and profusely decorated with rich carvings, the Hathee Singh Temple is dedicated to Dharamanath.
Nal Sarovar Bird Sanctuary
54 km away and connected the the city, the sanctuary offers a pleasant trip. The sanctuary mainly comprises a lake and marshes where you can see flamingos, pelicans, ducks, geese, cranes, storks, ibises, spoonbills, wading birds, kingfishers, swallows, fishing eagles, osprey, harriers and falcons in great numbers.
Dada Hari Vav
Dada Hari Vav is well was built to provide cool resting place and water. The stepped well is one the finest example of Gujarati architecture. Even on the hottest days the well is cool. This well was built in 1501. It has a flight of steps leading down to lower and lower platform terminating at a small, octagonal well.
Rani Sipri's Mosque
This small mosque outh-east of the city is also known as the Masjid-e-Nagira (Jewel of a Mosque) because of its extremely graceful and well-executed design. Its slender minarets again blend Hindu and Islamic style. The mosque is said to have been commissioned in 1514 by the wife of Sultan Mahmud Begada after he executed their son for some minor misdemeanour and she is in fact buried here.