Cholamandalam - 11.50% for Loan Against Property - Loan Against Commercial Property

Cholamandalam Loan Against Property:

Cholamandalam Investment and Finance Company Limited provides loan against property starting at 11.50% p.a. onwards* to prime customers as well as those belonging to low income categories.

Their offerings include housing finance for self-construction, purchase of plots/ready to occupy homes and balance transfer of existing home loans.

Interest Rate	11.50% p.a. onwards*
Processing Fee	1% of the disbursed loan amount

 

Key Features of Cholamandalam Loan Against Property:

1. Attractive home loan options.

2. Balance transfer facility.

3. Simplified documentation.

4. Doorstep service with fastest process.

5. No hidden charges

 

Cholamandalam Loan Against Property Interest Depends Upon:

1. Your Salary:

Income helps you in identifying your rate of interest.

Bank's rate varies with your monthly income.

Higher the income, lesser will be the rate

 

2. Type of loan opted for:

Cholamandalam loan against property also offers differential rates for women borrowers and also under their fixed and floating rate schemes.

The rate of interest may be higher or lower under their special or popular loan product offers.

 

3. Existing bank customers:

Cholamandalam loan against property offers one of the lowest loan against property rates to its existing bank account customers in view of their past relationship with the bank.

 

Cholamandalam Loan Against Property:

Apply

If you want to get a loan against property from Cholamandalam, the process to get the loan is fairly easy.

All you need to do is to apply for a loan against property at APNARUPEE.COM we are a channel partner of all top banks in India including HDFC, SBI, Axis Bank etc. Your loan application will be processed Cholamandalam representatives will get in touch to begin the process of getting a loan against property.

You will also be assisted by APNARUPEE.COM housing loan advisor to ensure that all the lending process is smooth, quick and you get the best loan against property from Cholamandalam.

You can also do a comparison of Cholamandalam loan against property interest rates and other charges using APNARUPEE.COM comparison tool.

 

Cholamandalam Loan Against Property Documents:

For Salaried employees:

1. Filled up loan application form.

2. Two Passport Size Photo.

3. ITR of last 2 years.

4. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

5. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport.

6. Income Documents – 6 months’ pay slip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit.

7. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension.

 

For Self-Employed:

1. Filled up loan application form.

2. Two Passport Size Photo.

3. Identity Proof - Passport/ Driving License/ Voter ID/ PAN.

4. Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (up to 3 months old), Passport.

5. Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile.

6. Property Documents - Past title chain: Conveyance deed, Sales deed, Allotment letter, Possession letter, Latest property tax receipt, Copy of approved plan for construction/ extension.

 

 

Frequently Asked Questions:

Q. What are the benefits Cholamandlam Bank provides on loans against the property?

Ans. The bank offers the attractive interest rate and flexible repayment tenure on loan against property.

 

Q. What is the maximum loan amount offered by Cholamandalam?

Ans. Cholamandalam offers home loans depending on your repaying capacity and credit profile.

 

Q. Can I pre-close my Cholamandalam home loan?

Ans. Yes, you can pre-close your Cholamandalam home loan.

For any pre-closure beyond 12 months from the date of the agreement, you will have to pay up to 4% of the outstanding principal.

Similarly, for pre-closure from 7 to 12 months from the date of the agreement, up to 5% of the outstanding principal will be charged.