loan against property

Loan Against Property Balance Transfer

Attractive Interest Rates | Quick Approvals | Easy Application Process

Poonawalla Fincorp’s Loan Against Property Balance Transfer can be used by the borrower to balance transfer loan from the existing lender to another lender. With Poonawalla Fincorp’s Loan Against Property, you will get exciting benefits such as lower interest rates, higher loan amounts, longer and more flexible loan tenure, higher LTV (Loan to Value) on the market value of the asset, and best-in-class customer service and query resolution.

With Poonawalla Fincorp you can calculate your Loan Against Property Balance Transfer by following the below-mentioned steps:

  • Visit the “Loan Against Property Page on Poonawalla Fincorp’s official website.
  • Click on “Apply Now”.
  • Fill out the form with the required personal, professional, and financial details.
  • Submit all the necessary documents.
  • For further processing, a representative from Poonawalla Fincorp will get in touch with you.
  • You will receive a loan sanction, after your assessment and verification.
  • The loan amount will be credited to your bank account.
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Loan Against Property Interest Rates 9% p.a onwards
Loan Amount From ₹25 Lakhs to ₹10 Cr
Loan Processing Fees Up to 1% Plus applicable taxes
Lowest EMI per month Starting from ₹25,357* per 25 Lakhs for 15 years
Loan Tenure 3 - 15 years
Prepayment/Foreclosure Charges 0%* If paid from own sources.

4% of the outstanding loan amount plus taxes if paid from other sources
Late Payment Charges 2% per month
Cheque Bounce Charges ₹1000 per bounce plus applicable taxes
IMD Charges - Initial application fee ₹10,000 - Non Refundable
Stamp Duty At actuals (as per state)
No Other Hidden Charges
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Online

Apply Online

Click on Apply Now and enter your contact details along with loan amount, tenure and property type

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Enter
residence
details

Enter residence details

Enter your DOB and residentce ownership details

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Enter
occupation
details

Enter occupation details

Enter your occupation and employment details

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Verification

Verification

Application will then proceed for verification and assessment

With Poonawalla Fincorp’s Loan Against Property Balance Transfer, you can enjoy the below-mentioned features and benefits:

  • Unsecured and collateral-free loans logo

    Minimum Documentation

  • Short turn around time for loan approval logo

    Quick and Easy Loan Processing

  • No foreclosure penalty logo

    Competitive Interest Rate

  • Flexible repayment tenure logo

    Long Loan Tenure

  • Competitively priced low-interest rate loan schemes logo

    Higher Loan Amount

  • Minimum Documentation - For a Loan Against Property from Poonawalla Fincorp, you do not need to stress about providing a heavy list of documentation. We have an easy and simple-to-understand process that helps you to submit all the documents online.
  • Quick and Easy Loan Processing - With the online loan application process, you have the privilege of submitting all the documents online. This ensures a seamless experience for the customers and reduces the time to process a loan. Also, our expert representatives will assist you at every step to facilitate a quick and easy loan processing experience.
  • Competitive Interest Rate - Poonawalla Fincorp’s Loan Against Property offers an affordable rate of interest for our loyal customers. We understand our customers want an affordable rate of interest to help you repay pocket-friendly EMIs (Equated Monthly Installments). You can leverage your property by availing of funds at a competitive rate of interest.
  • Long Loan Tenure - Poonawalla Fincorp’s Loan Against Property loan tenure ranges from 3 to 15 years. Our long loan tenure provides customers with the freedom to repay the loan at their own convenience.
  • Higher Loan Amount - For Loan Against Property, we offer loan amounts ranging between ₹25 Lakh to ₹10 Crore. You can use a higher loan amount to fulfil any of our needs.
Description Salaried Individuals Self-Employed Individuals Firm / Company
Eligible Borrowers Salaried individuals working with LLP / Private Limited / Public Limited companies Proprietor / Partner / Director Self-employed professionals like Chartered Accountants, Company Secretaries, and Doctors Partnership or Private Limited companies engaged in manufacturing, servicing, or trading
Age Applicant should be a minimum of 18 years at the time of loan application and a maximum of 60 years at loan maturity Applicant should be a minimum of 18 years at the time of loan application and a maximum of 75 years at loan maturity Proprietor / key partner / key director should be a minimum of 18 years at the time of loan application and a maximum of 75 years at loan maturity
Income The gross monthly take-home salary should be at least ₹50,000 Gross annual income should be a minimum of ₹3 Lakh Annual turnover should be a minimum of ₹10 Lakh
Experience / Vintage 3 years of total experience and 6 months of experience with the current employer Must be in the same business/profession continuously for the last 5 years Business stability/vintage of minimum 5 years in the same business
Citizenship Individuals must have Indian citizenship Individuals must have Indian citizenship Proprietors/partners/directors must have Indian citizenship

Note: The above-mentioned eligibility list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.

Description Salaried Individuals Self-Employed Individuals Firm / Company
Identity Documents KYC documents KYC documents GST (Goods & Services Tax) Registration Certificate (If applicable) and Other Applicable Registrations, KYC of Partners / Directors PAN Card and Aadhaar Card
Address Proof Electricity bill for owned premises, a Rent agreement for Rented premises, and a Passport The Electricity bill for owned premises, a Rent agreement for Rented premises, and a Passport The Electricity bill for owned premises, a Rent agreement for Rented premises, a Passport of the Partner / Directors
Income Documents 3-month salary slips Income Tax Returns along with computation for the latest 2 years Profit/Loss statement and balance sheet for the last 2 years Income Tax Returns along with computation for the last 2 years, Profit/Loss statement and balance sheet for the last 2 years, GST Returns
Bank Account Statement Salary credit bank account statement for the last 12 months Operative bank account statement for the last 12 months Operative bank account statement for the last 12 months
Property Documents If already finalized along with legal & technical clearance of the property
What is balance transfer loan?

A balance transfer loan allows a borrower to transfer the existing loan from one lender to another lender.

What is a balance transfer interest rate?

Our interest rate for balance transfer starts from 9% p.a. There are numerous factors that influence your balance transfer interest rate such as credit score.

Can we transfer property loan?

Yes, you can transfer property loans once you meet the minimum eligibility criteria mentioned on our website.

What documents are required for balance transfer?

For Loan Against Property Balance Transfer, you need to submit income proof, identity proof, address proof, bank account statement, and property proof.

What is the minimum balance transfer amount?

The minimum balance transfer amount that you can avail with Poonawalla Fincorp’s Loan against Property balance is ₹ 25 Lakh.

*Terms & Conditions Apply

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