Religare Finvest Mortgage Loan Interest rates in Delhi
| 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 Delhi
| 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 Delhi
| 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 Delhi 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
ICICI Bank
Axis Bank
HDFC Bank
Magma Fincorp
DHFL
Citi Bank
Dcb Bank
IDBI Bank
IndusInd Bank
Kotak Mahindra Bank
RBL Bank
State Bank of India
Standard Chartered Bank
Avanse
LIC Housing Finance
Fullerton
TATA Capital
Credila
HDFC Limited
Aditya Birla Housing Finance
Capital First
Edelweiss
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 Delhi
Delhi or Dilli is a capital city of the Republic India, Delhi is the center of Government's legislature and judiciary systems. It was 1992 when Delhi has been declared as a state under the national capital territory Act. However, the city has become the capital of Independent India in 1950. Set on the both sides of River Yamuna, Delhi is one of the fastest growing cities in India, and it is second most population city.
The history of the city is as old as the epic Mahabharata. The town was known as Indraprastha, where Pandavas used to live.
From Hindu Kings to Muslim Sultans, the reins of the city kept shifting from one ruler to another. The soils of the city smell of blood, sacrifices and love for the nation. The old 'Havelis' and edifices from the past stand silent but their silence also speaks volumes for their owners and people who lived here centuries back.
Other Cities Loan Offers
Places To Be Visited In Delhi
Bahai (Lotus) Temple
The ever-popular lotus-shaped Bahai Temple in Delhi is the last of the seven major Bahai temples around the world. A mesmerizing structure made of pure white marble, standing against a lush green landscape, the lotus depicts a symbol common to all religions.Hence the doors of the temple remain wide open for adherents of any faith to pray and meditate.
Red Fort
Red Fort or Lal Kila was converted to barracks for the British colonial army. The iconic landmark recognized by its red sandstone architecture has a rich set of stories dating back to India's pre-independence era. This massive time-tested fortress today is the backdrop for large scale national events such as the Republic Day and Independence Day.
India Gate
Rising 42 mts high in one end of Rajpat stands the India Gate and a symbol of pride and bravery. This outstanding stone archway instantly ignites a feeling of patriotism. Also known by the name of All India War Memorial, this prestigious monument is a mark of respect to all those unknown soldiers who have sacrificed their lives protecting an entire nation.
Jantar Mantar
Among most popular places to visit in Delhi is the Jantar Mantar, an ancient observatory built by Maharaja Jaisingh of Udaipur in 1794 on the main Parliament Street at Connaught Place.
Qutub Minar
Qutub Minar is the 2nd tallest minar in India. It has been declared as a UNESCO Heritage Site. At the foot of the tower stands a mosque which is the first mosque built in India. It has a 7 m iron pillar in the courtyard with a fascinating saying attached to it.
Akshardham Temple
Heralded by the Guinness World Record as the World’s Largest Comprehensive Hindu Temple, Swaminarayan Akshardham in New Delhi is an epitome of Indian culture..Various exhibitions on display take visitors through multiple journeys such as the Hall of Values, giant screen film on Discover India, and Cultural Boat Ride. Other attractions include the Circle of Life Musical Fountain (after sunset), Gardens of India, and Lotus Garden.