Your property can be a blessing in ways more than one. Unlock the hidden potential
of your hard earned property by availing an easy loan against your residential or
commercial property. Fullerton India offers a wide array of Property loans to meet
financial expenses pertaining to your business, educational or personal requirements.
With a wide presence across the country and an influential network of branches,
Fullerton India Property Loans provide a host of benefits and unique features completely
customised to suit your needs. So if you have a dream or a goal, your property can
help you achieve that in the most affordable way.
A Loan Against Property from Fullerton India is a multi-purpose loan that can be availed
by mortgaging your existing property in semi-urban or urban locations. Our nation-wide
presence and expert customer care ensures a sensitive handling of your property
documents and records.
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.
* Loans are at the sole discretion of Fullerton India and are subject to guidelines of the Reserve Bank of India. Fullerton India may engage the services of marketing agents for the purpose of sourcing loan assets in certain locations.
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