IDFC First Bank Loan Against Property - Loan Against Property

IDFC First Bank gives you attractive Loan against property deals. There are many benefits in taking this service from them.

Benefits

• Get loan ranging from Rs. 5 lakh to Rs. 10 crore against your property
• Get as much as 90% of your property’s value
• Get loan tenure of as long as 20 years
  

Loan against property features

• Get a loan for all your needs: Use this loan for anything from boosting your business or for personal needs.
• Consideration is given to your property’s market value: Get maximum value for your property, of as much as 90%
• Enjoy flexible repayment options: You’ll never be under pressure of paying EMIs as you can repay according to your cash flow. There are flexible part payment options.
  

IDFC Loan against property options

• Loan against property to SMEs: These are against residential and commercial properties and are aimed at small to medium enterprises.
• Loans for property: Use this to buy residential and commercial properties.
• Loan against plots: These are for buying solely residential plots.
• Lease Rental Discounting: You can utilize rental income to get the loan against property.
  

IDFC First Bank Loan against property

• Salaried and Self
• Employed Professionals
• Sole Proprietors
• Partnership Firms
• LLP and Private Limited Co.
• Minimum age requirement is 23 years at the time of taking the loan and maximum 70 years or retirement at the time of maturity Good credit rating score in credit bureau
• Minimum 2 years in business in an industry with a positive net worth (for Self-employed) or 5 years’ work experience (for salaried individuals)
• Micro, Small and Medium Enterprises
• Clean record in terms of past loans and statutory payments.

Process of getting IDFC First Loan against property

• Apply for the loan online at the bank’s website
• Speak to their Relationship Manager
• Application verification by the bank
• Loan amount disbursed to your account
  

Documents you’ll need for getting IDFC First Loan against property

General documents for all:

• Photo Id (any one): Passport, Driver license, Voter ID, PAN Card, Aadhar card
• Address proof (any one self-attested): Driver’s license, Ration card, passport, electricity bill, bank account statement, telephone bill, Aadhar card, Property purchase agreement
• Income proof (any one self-attested): 2 month’s salary slip, Last 6 month’s bank statement showing salary credit, Last year ITR showing income or Form 16

Property proof

• NOC from the concerned society and related documents
• Possession letter
• Copy of original sale deed