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Which NBFC is Best for Loan Against Property?

Did you know that your residential or commercial property, the ones that you own, give you a special power?

Well no, this power is not like the superhuman powers which you see in the movies, but the reality-based power these properties give you is nothing short of superb. These properties help you to get a loan whenever you want. The type of loan we are talking about here is Loan against Property. 

Provided you meet all the requirements, you can get such loans from both banks and NBFCs. People are favoring NBFCs of such loans nowadays because from here you can get credit more easily. Getting this type of secured personal loan is easier than others anyways, and on top of that you get some additional benefits when you take the service of NBFCs. 

Loan against property is generally taken for meeting marriage expenses, for buying a house, for medical treatments and even for personal development reasons.

Below given is a list of top banks and NBFCs from whom you can get this loan.

TATA Capital loan against property

TATA capital, as a financial and investment company, offers wealth management, customer loans, commercial finance and finance for commercial infrastructure. It all is known for giving loans against property at attractive rates. 

Interest Rate

10.5% onwards

Loan Amount

Rs. 10 lakh

Processing Fee

Starting from 1% of the loan amount

Loan Tenure

Max. up to 15 years

Foreclosure Charges

4% of the loan amount + GST

Documentation Charges

Rs. 5000 + GST

Part payment charges

Nil, (up to 25% of principal outstanding in a year)

DHFL Loan against property

DHFL or Dewan Housing Finance Corporation gives you home loans at an attractive rate of interest. It also gies affordable housing finance to the MIG and LIG segments of society in the rural and semi-urban regions of the country.

Its housing loans are available to self-employed, salaried people, limited liability partnerships, private limited companies and more.

Interest Rate

Depends on applicant’s profile

Processing Charges

Up to 2% of the loan amount + GST

Loan Tenure

Up to 15 years

Part-payment Charges

Nil

Cheque/ECS bounce charges

Rs. 500 + GST

CERSAI Registry Charges

Rs. 50 for loan up to Rs. 5 lakh

Conversion charges

0.5% of principal outstanding

Stamp charges

As per applicable law

 

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