Fullerton India Loan Against Property
- Interest Rate starting from 9%
- Loan Amount up to Rs.12.5 crores
- Loan Tenure up to 15 years
- Processing Fee up to 1% of loan amount + GST
With Fullerton India Loan Against Property, borrowers can utilize their properties to finance their personal or business expenses. Customers can access up to 70% of the property’s current market value as mortgage loan at interest rates as low as 9%. The flexible loan amount of up to Rs.12.5 is a huge benefit with Fullerton Mortgages.
| Fullerton India Loan Against Property Summary | |
|---|---|
| Interest Rate | starting from 9% |
| Loan Amount | Up to Rs.12.5 crore |
| Loan Tenure | 15 years |
| Processing Fees | 1% of the loan amount + GST |
| CIBIL Score | 700 and above |
Note : The above rates are subject to change at the discretion of the banks or on the basis of RBI directives.
Eligibility Criteria for Fullerton Loan Against Property
To avail of a Fullerton India loan against property,
- be salaried or self-employed residents with a steady source of income.
- be between 21 and 60 years of age if salaried and between 25 and 65 years of age if self-employed.
- have a CIBIL score of 700 and above.
Interested in knowing if you qualify for a mortgage loan with Fullerton India Home Finance Co. Ltd?
Use the Fincity loan against property calculator to find out.
Fullerton India Loan Against Property Interest Rate
Fullerton India LAP can range anywhere between 9% and 24% per annum on the risk profile of a borrower. Some important factors that the lender considers before deciding on an individual’s mortgage interest rate are their income, fixed monthly financial obligations, property type and market value, and credit history.
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Fullerton India Bank Processing Fee and Other Charges
Here’s a list of the processing charges a borrower can expect when they apply for a Fullerton LAP.
| Particulars | Charges |
|---|---|
| Processing Fees | Up to 3% of the Loan Amount |
| Delayed EMI Payment Interest (per month of delay, every month) | 2% of the overdue EMI per month calculated on a daily basis |
| Collection of Cheque/Cash (per collection) | Rs.300 |
| Cheque /ECS/NACH dishonoured Charges (per dishonour of cheque/ECS/NACH per presentation) | Rs.300 |
| Swap Charges- for replacement of Post-dated cheques to ECS (per instance) | Rs.500 |
| Swap Charges- for replacement of ECS to ECS (per instance) | Rs.500 |
| Loan Cancellation charges (loan cancelled before first EMI) | Rs.5,000 |
| Rate of interest conversion fee | An amount not exceeding 1% of the loan amount sanctioned (SME loans / Loan against Property & LRD) |
Note :The above rates are subject to change at the discretion of the banks without prior notice.
Fullerton India Loan Against Property EMI Calculation
It’s best to conduct a thorough research and learn details of multiples schemes before you shortlist a few. Make life simpler by checking the repayment schedule for each shortlisted one by using the Fincity Loan Against Property EMI calculator and then narrow down on the one that suits you the best.
Documents Required for a Fullerton Loan Against Property
Below is a list of documents required for a Mortgage Loan with Fullerton India Home Finance Co. Ltd.
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Note : Required documents must be self-attested and may slightly differ.
Fullerton India Loan Against Property (LAP) Benefits
Fullerton India Loan Against Property sanctions up to 70% of a property’s market value (60% in case of residential properties). The loan processing is quick, and both commercial and residential properties are accepted as collateral.
Figuring the right mortgage loan may sound like an uphill task - and truth be told, it is.
So, leave the task to Fincity experts while you relax and focus on more important things. Our loan advisors will note down all your specific requirements and find you your perfect LAP rate match – along with all the benefits that you wish for. For free immediate assistance, connect with us at lap@fincity.com.