Loan against Property

Leverage your real estate to meet fund requirements for working capital, fixed assets or even consumption. Make your assets work for you.

Salient features

• Individuals, firms or companies can leverage real estate property owned by them
• Immediate funds requirement for working capital or fixed assets or for both or for consumption purposes
• Extension of the SME loan product where the emphasis is less on usage of funds for business purposes and more on the value of security

Eligibility

• Persons/ firms/ companies owning real estate property in the state of Kerala

Security

• Equitable mortgage of landed property having value at least 200% of the loan amount

Documentation

• Business licence, registration certificate etc. relating to the business
• Audited/ unaudited financial statements and projections
• Income tax returns for 3 years
• Title deeds relating to the property
• KYC documents of the borrowing entity and all the signatories for the facility

Loan amount

• Rs. 2 lakhs to to Rs. 35 lakhs

Period of loan

• 6 months to 36 months

Repayment

• Either bullet repayment at the end of the sanctioned period or in equated monthly instalments along with interest. In respect of bullet repayment, interest will have to be serviced every month. Part payment is also permitted.

FAQ

Q: Is it compulsory that the loan should be availed for business purposes?
A: No. This loan is available even for non-business/ construction purposes.