Sundaram Finance - 14.75% for Loan Against Property - Loan Against Residential Property

Sundaram Finance Loan against property

Sundaram Home Finance is a large NBFCs with the lowest loan against property percent rate in India.

Currently bank offers home loan starting from 14.75% p.a. onwards* with quick approval.

Loan against property in Sundaram Finance is popular with its special features and attractive rates for different income and occupation.

 

Loan Against Property Interest Rate:

Interest Rate (annual percentage rate)	14.75% p.a. onwards*
Tenure	Up to 10 years
Loan to Value Ratio	For new customers: Up to 50% of the market value of mortgaged property For existing customers: Up to 60% of the market value of mortgaged property
Processing Fees	Up to 1% of the loan amount plus GST (Rs. 5,000 to Rs. 10,000 depending on type of loan/borrower profile)

 

Taking a loan from Sundaram Finance has the following benefits:

1. Sundaram Home Finance offers attractive interest rates to those with a good credit score.

2. The documentation required to apply for Sundaram Home Finance home loan is minimal.

 

Sundaram Finance Loan against Property

Apply:

If you want to get a loan against property from Sundaram 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 Sundaram Finance (Loan against Property) Loans 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 Sundaram Finance.

You can also do a comparison of Sundaram 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 Sundaram Finance Loan against Property Interest Rates:

Loan amount: 

Property loan rates in Sundaram 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: 

Sundaram 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: 

Sundaram Finance Bank 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.

 

Sundaram 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

 

Eligibility Criteria for Sundaram Home Finance Loan against Property

Nationality: Indian

Both salaried and self-employed professionals are eligible

Age: 18 to 65 years

Co-owner of the property should also be a co-applicant

 

Frequently Asked Questions:

Q. How does Loan against Property benefits for me?

Ans. Sundaram Finance offers you the opportunity to meet your personal financing needs for marriage, medical expenses or

education or business needs of expansion, to debt refinancing to pay off existing loans, with its loan against property facility.

 

Q. What is the maximum funding that I can avail through loan against property?

Ans. As an existing customer, you may avail a maximum funding not exceeding 60% of the market value of the mortgage property.

The funding is capped off at 50% of the market value for new customers. Market value in both cases shall be assessed by Sundaram Home.

 

Q. Who can avail loan against property?

Ans. Both salaried and self-employed individuals can avail Sundaram Home’s loan against property provided they meet the eligibility criteria and present appropriate documents.

 

Q. What is the maximum term for which I can avail a loan against property?

Ans. Loan against property can be availed for a maximum term of 15 years or until the age of superannuation of the availed, whichever is lower.

 

Sundaram Finance News – March 2023:

 

2021-06-03: Sundaram Home Finance revised its home loan against property rates:

Sundaram Home Finance revised its home loans rates.

The new home loan rates starts from 10.90% p.a. onwards*

 

2021-05-24: Sundaram Home Finance reported a 68% jump in Q4 profit:

Sundaram Home Finance posted a 36% growth in its net profit for Q3 to Rs. 56.24 crore.

Disbursements for Q3 stood at Rs 416.57 crore backed by home, personal, along with the business and mudra loans.