Shriram Housing Finance Limited - 9.50% for Loan Against Property - Loan Against Industrial Property

Shriram Housing Finance Loan Against Property:

Shriram Housing Finance is one of the leading NBFC's in India with an active portfolio in real estate financing.

 The firm offers varieties of loan schemes to members of the public at varying tenure and at attractive rates of interest.

Among their long list of Non-housing loan schemes are their loan against property.

This loan is offered to salaried and self-employed individuals who own properties and wish to use them as security for a loan.

Interest Rate	9.50%* onwards
Loan Amount	Rs.1 Lac – Rs. 10 Crore
Tenure	Up to 25 Year
Processing Fee	Up to 0.50% of loan amount or Rs. 5,000  (whichever is higher)

 

Shriram Housing Finance Loan Against Property has the following benefits:

1. Flexible property requirements

2. Tax Benefits

3. Funds for business/career expansion

4. Quick Loan approvals

5. Fast Loan Disbursal

 

Shriram Housing Finance Loan against Property:

Apply:

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

All you need to do is to apply for a home loan at Apnarupee.com.

We are a channel partner of all top banks in India including HDFC, SBI, Axis Bank, ICICI, etc.

Your loan application will be processed and Shriram Housing Finance (Loan against Property) Loans representatives will get in touch to begin the process of getting a home loan.

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 Shriram Housing Finance.

You can also do a comparison of Shriram Housing Finance Loan against property rates and other charges using the Apnarupee.com comparison tool.

Once you apply online, you can check the real-time status of your loan against property in your customer account section of Apnarupee.com.

 

Factors Affecting Shriram Housing Finance Loan against Property Interest Rates:

Loan amount: 

Property loan rates in Shriram 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: 

Shriram 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: 

Shriram 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.

 

Shriram Housing Finance Loan Against Property Documents Required:

For Self-Employed:

1. Filled up loan application form

2. 2 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. 2 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

 

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

 

Shriram Housing Finance Loan Against Property Types:

Shriram Housing Finance has two types of Loans against property.

1. Loan Against Property- Residential

2. Loan Against Property - Commercial 

 

1. Loan Against Property- Residential

The loan against property for residential property owners is issued to borrowers who bring forward residential properties as collateral for a loan.

The funds issued to you can be used to pursue any economic interest of your choice.

The features of this loan scheme are-

1. Only Indian residents qualify for this loan

2. Applicant must be at least 21 years old as at the time of applying

3. Loan eligibility is based on the applicant's repayment capacity and property considerations

4. Individual or joint application is permissible

5. Age of maturity will be considered for all self-employed applicant

6. The loan installment plan is flexible or Tranche-based EMI

7. The minimum loan amount is 1 lakh - 15 lakh maximum

 

2. Loan Against Property - Commercial

The loan against property for Commercial property owners is issued to borrowers who have commercial assets as collateral for the loan.

This loan may be taken for business expansion purposes.

Commercial assets may be office blocks, shops, warehouses, etc.

Find below some of the features of this loan scheme.-

1. Applicant must be at least 21 years old as at the time of applying

2. Loan eligibility is based on the applicant's repayment capacity and property considerations

3. Individual or joint application is permissible

4. Age of maturity will be considered for all self-employed applicant

5. Minimum Loan amount is 1 lakh - 15 lakh maximum

6. Only Indian residents qualify for this loan

 

Frequently Asked Questions:-

 

Q. What can I use this loan for?

Ans. SHFL does not limit usage. You can use the funds to settle pressing bills or for investment purposes.

The choice is yours.

 

Q. What are the different types of interest rates offered by Shriram Housing Finance?

Ans. Shriram Housing Finance offers two different types of interest rates that borrowers can avail of.

They are the Fixed interest rate and the Floating interest rate.

 

Q. Which type of security is accepted by Shriram Housing Finance for a Loan against?

Ans. The Prime security accepted by Shriram is an immovable asset/building owned by the person who is applying for the loan.

The Title Deed of the property must indicate that the applicant is the owner. Furthermore, the property should be free of any legal encumbrances.

 

Q. What are the documents required to apply for Shriram Housing Finance Loan against property?
Ans. Three types of documents required to apply for a Shriram Housing Finance mortgage loan- KYC documents, financial documents and property documents

1. KYC Documents- photo identity proof, residence address proof, office address proof, to meet these requirements a borrower can provide Aadhaar Card, PAN Card, shop and establishment certificate etc.

2. Financial document for self-employed borrowers- Audited report, ITR, Balance sheet for latest 3 financial years, banks statements of all the accounts for last 1 year,

business profile etc. Financial document for salaried borrowers – latest 3 month’s salary slips, latest 2 years ITR, bank statement of salary account for 1 years and

details of all the loans.

3. Copy of property documents.