Godrej Housing Finance - 9.75% for Loan Against Property - Loan Against Commercial Property

Godrej Housing Finance Loan against Property:

Godrej Housing Finance offers loan against property starting 9.75% p.a.* with the quick approval and easy process.

Loan against property in Godrej Housing Finance is quite popular with its special features and attractive rates under the various loan schemes for the different income and occupation groups.

Interest Rate	9.75% onwards*
Loan Amount	Up to Rs 10 crore
Tenure	Up to 25 years
Processing Fee	Up to 3% of loan amount

 

Type of Applicant	Interest Rates (p.a.)
Salaried	9.75% onwards
Self-employed	9.75% onwards

 

Factors Affecting Loan against Property Interest Rates:

Loan amount: 

Property loan rates in Godrej housing finance depend upon the loan amount you apply.

 

Your Net Monthly Income: 

Income helps you in identifying your rate of interest. Higher the income, higher will be your repayment capacity increasing your eligibility for higher loan amount.

 

Type of loan opted for: 

Godrej housing finance offers differential rates for customer’s different profiles and also fixed and floating rate schemes. Loan against property interest rates may be higher or lower for special loan products.

 

Type of property: 

Typically, loans against prime residential properties are easier to get and can be availed at the lowest rates compared to loans against commercial and industry properties.

 

Your profession:

Godrej housing finance may charge a higher interest rate on a mortgage loan to a salaried person than a self-employed professional or a businessman.

A self-employed professional or businessman is expected to deploy loan proceeds for productive purposes in his occupation or business compared to salaried people who will most likely take a mortgage loan for his personal

Purposes.

 

Godrej housing finance Loan against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. Two Passport Size Photo

3. ITR of last 3 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. 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

 

For Salaried employee:

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’ pays lip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

 

Property documents:

1. Registered Sale Deed/ Conveyance/ Lease Deed

2. Past Sale Deeds Chain (each transaction in respect of this property since first allotment

3. Latest House Tax Return/ Receipt

4. Approved Building Plan from Municipal Corporation

 

Frequently Asked Questions:

Q. What is Godrej housing finance loan against property rate?

Ans. Godrej housing finance offers loan against property at a rate of  9.75%* with the lowest rate.

 

Q. How to increase my eligibility on Godrej housing finance loan against property loan?

Ans. If your spouse or family member is earning well, you can make you’re the spouse or family member the co- applicant for your loan.

The combination of both of your income will help you in increasing your eligibility to get a loan.

 

Q. What factors determine the eligibility criteria of property loan from Godrej housing finance?

Ans. The factors that determine the eligibility criteria of Godrej housing finance property loan are:

1. Age Of the applicant

2. Monthly Income

3.Existing liabilities

4. CIBIL Score

 

Q. What can a Loan against Property be used for?

Ans. With a loan on property, you can use it for any purpose, similar to a personal loan.

From renovating your home, starting a business, funding medical expenses or even going on a long vacation, you can take a loan to fulfil all your needs.