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Utkarsh Bank Loan Against Property (Large Segment)
Broaden your property's capability to satisfy your financial demands with Utkarsh Loan Against Property. A surprise occurrence that may arise in one's personal or professional life is the sudden need for money. Everybody needs quick financial support at critical times, whether it is personal or professional. In this regard, it is essential to take advantage of a very useful funding source called a loan against property (LAP).Powered By
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Utkarsh Bank Loan Against Property (Large Segment)
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Here are a few factors
| Location | 60Km from Branch |
| CIBIL Score | 650+ |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | Salaried-21
Year to 65 Year Self Employed-21 Year to 70 Year |
| Loan Amount & Tenure | 5
Lac to 1Cr (5 Year to 15 Year) |
| Login Fees | 5900+ |
| Rate of Interest & Type | (i)
Salaried:11% to 15% (ii)Self Employed: 11.50% to 16.50% (Reducing) |
| TAT | Sanction-10
Days Disbursement-within 3 days after submission of documents |
| Processing Fees | 1%-1.50% |
| Foreclosure Charges | Upto 4% |
| Insurance | 1%-4% |
| Minimum Business Vintage | 3 Year |
| Lock In Period | 12 Month |
| Part Payment Allowed | No |
| LTV | (i)
Residential-70% (ii) Commercial-65% (iii) Industrial-60 (iv) if residential property is rented/vacant then LTV will be 5% lower (v) If Commercial Property Purchase/vacant/rented then LTV will be 5% lower |
| Product | (i) Fresh Loan (ii) BT+Topup (iii) Commercial & Industrial Purchase |
| Program | (i)
Income Program-1 Cr (ii) LIP Program- 1 Cr (iii) Without ITR-1 Cr (iv) Banking Product-1 Cr (v) RTR Product-1 Cr (18 month track-1.10X) |
| FOIR | (i) Salaried: Salary<50K-50% of Net Salary,If Salary>50-60% of Salary (ii) Self Employed: 80% of Income |
| Cautious Profile | No Cautious Profile |
| Negative Profile | (i) Politician (ii) NRI (iii) Real Estate (iv) Applicant living in dominated area (v) GYM (vi Jewellers (vii) Advocates |
| Funded Property | (i)
Residential Property (ii) Commercial Property (iii) Industrial Property (iv)
Khasra-Khatauni Property (v)Gram Panchayat Property (vi) Legal & technical not clear (vii) Sub-divided Property (viii)Without MAP Property (ix)Subject to Sale Deed (x) Regularized Colony (xi) Basement with 1st Floor (xii) Multi Tanented Property upto 5 Tanent |
| Negative Property | (i)
GPA Property (ii) Stand Alone Basement (iii) Demolition List Property (iv)
Bachha Flat (v) Property in dominated area (vi) Hotel & Restaurant (vii) School (viii) Hospital & Nursing Home |
| Accepted Collateral | Other than Negative Property |
| Specific Property wise Funding Limit | (i) Lal Dora-20 Lac (ii) Other Property upto 1 Cr |
| Any Specific Product for Professionals | No Specific Product |
| USP | Without ITR funding upto 1 Cr |
| Additional | (i)
DOD product & LRD Product not doing (ii) Auction Purchase Doing on approval basis (iii) 2 Bouncing in last 6 month accepted |
Documents Required
Original Property Papers
Documentation per product standards
KYC
Application Form
Basic Eligibility Criteria
Any Salaried or self-employed person can apply for this loan.
The salaried person’s age should be within 21 years to 65 years.
The self-employed person’s age should be within 21 years to 70 years.
Minimum CIBIL Score required is 650+.
FREQUENTLY ASKED QUESTIONS
A loan secured by an individual's, business's, or firm's currently owned property is known as a loan against property.
With a loan against property, you may unlock the potential that lies inside the properties you own. Your property can be used as security for a loan, which you can repay over time through installment payments.
A loan secured by property can be used to raise money for a variety of purposes. These are such things as working capital, consolidation of debts, business growth, machinery purchases, and other needs.
The properties listed below can be used as security for loans secured by property.
Plots
Residential
Commercial
Industrial
Salaried and self-employed people both can apply for these loans.
Your CIBIL Score should be at least 650+.
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