Property Mortgage Loan

Property Mortgage Loan

Online @ 9% p.a.

Up to ₹5 Cr | Minimal Documentation | Flexible Repayment Tenure

A Mortgage Loan is used to avail of additional funds against a property’s value. It is a long-term financial arrangement where the lender provides funds to the borrower against a property, be it residential or real estate. Since it is a secured loan, the property itself serves as collateral against the loan amount.

Mortgage Loans are a type of Loan Against Property that allows you to fulfil your financial requirements by putting up an immovable asset like your property as security. You can easily avail of this loan through a simple application process Apply now!

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Loan Against Property Interest Rates 9% p.a onwards
Loan Amount From ₹51 Lakh to ₹5 Crore
Loan Processing Fees Up to 1% Plus applicable taxes
Lowest EMI per month ₹1044* Per Lakh for 180 Months
Loan Tenure 3 - 15 years
Prepayment/Foreclosure Charges 0%* If paid from own sources & 4%* If paid from other sources
Late Payment Charges 3% 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 Nil

There can be a host of reasons to apply for a Mortgage Loan, some of which include:

  • Expand Existing Business - You can expand business operations using a Mortgage Loan, using the funds to buy a new warehouse or commercial property.
  • Renovate Business Infrastructure or a Home - The funds received from a Mortgage Loan can be used to upgrade business infrastructure or to renovate your residential space without any hassle.
  • Pay for a Medical Emergency - Use a Mortgage Loan can be used to help pay for medical emergencies or meet other financial requirements during such circumstances.
  • Fund Overseas Higher Education - With a Mortgage Loan, you can easily fulfil your overseas education dreams without worrying about high tuition costs or fees.
  • Debt Consolidation - Debt consolidation streamlines financial management by combining various debts, like credit cards, Personal Loans, and medical bills, into one consolidated loan, reducing your debt burden.
  • Claim Tax Benefits - By borrowing a Mortgage Loan, you can also claim tax benefits through the deductibility of mortgage interest payments. Also, with competitive interest rates and flexible repayment, you can plan your finances better.

You can easily apply for a Mortgage Loan by following the steps mentioned below:

  • Step 1 – Click on the ‘Apply Now’ button.
  • Step 2 – Fill in the required details on the loan application form.
  • Step 3 – Upload the necessary documents.

On successful verification, the approved loan amount will be transferred to your bank account.

Poonawalla Fincorp’s Mortgage Loan comes with a host of different features and benefits, such as:

  • Short turn around time for loan approval logo

    Quick and Simple Loan Processing

  • Flexible repayment tenure logo

    Loan Available on Different Property Types

  • Competitively priced low-interest rate loan schemes logo

    Higher Loan-to-Value (LTV)

  • No foreclosure penalty logo

    Competitive Interest Rates

  • Quick loan disbursal facility logo

    Flexible Repayment Tenure

  • Quick and Simple Loan Processing - Our online loan application process ensures a seamless experience for our customers. The entire process from application to disbursal can be completed quickly.
  • Loan Available on Different Property Types - We offer Mortgage Loans against different properties, including residential, commercial, warehouse, industrial, etc.
  • Higher Loan-to-Value (LTV) - With our Mortgage Loans, you can get a higher loan amount sanctioned to manage your financial obligations. This is thanks to the high Loan-To-Value (LTV) ratio on the property’s market value.
  • Competitive Interest Rates - Poonawalla Fincorp’s Mortgage Loan interest rates are competitive, meaning you can repay your loan in affordable EMIs without any hassle.
  • Flexible Repayment Tenure - Our Mortgage Loans come with a flexible repayment period of up to 180 months.
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 Applicants must be at least 18 years old when applying for the loan.
The maximum age (at loan maturity) must be 60 years.
Applicants must be at least 18 years old when applying for the loan.
The maximum age (at loan maturity) must be 75 years.
The proprietor/key partner/key director must be at least 18 years old when applying for the loan.
The maximum age (at loan maturity) must be 75 years.
Income The gross monthly salary (in hand) must be at least ₹50,000 The gross annual income must be at least ₹3 Lakh The annual turnover should be at least ₹10 Lakh
Experience/Vintage Minimum 3 years of total experience.
At least 6 months working with the current employer
Must be in the same business/profession for the last 5 years Business stability/vintage/continuous operations of a minimum of 5 years
Citizenship Individuals must have Indian citizenship Individuals must have Indian citizenship Proprietors/partners/directors must have Indian citizenship

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

Description Salaried Individuals Self-Employed Individuals Firm/Company
Identity Documents KYC documents KYC documents GST Registration Certificate (If applicable) and Other Applicable Registrations, KYC of Partners/Aadhaar Card/Voter ID/Driving License/Passport
Address Proof Electricity bill for owned premises, rent agreement for rented premises, and passport 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, passport of the partner/directors
Income Documents Salary slips from the past 3 months
  • Income Tax Returns with the computation for the latest 2 years
  • Profit/Loss statement and balance sheet from the last 2 years
Income Tax Returns with computation for the last 2 years, Profit/Loss statement and balance sheet from the last 2 years, and GST Returns
Bank Account Statement Salary-credit bank account statement from the last 12 months Operative bank account statement from the last 12 months Operative bank account statement from the last 12 months
Property Documents Required if already finalised along with legal & technical clearance of the property

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

What is a mortgage loan?

A Mortgage Loan is a secured loan that is used to avail of funds against a property’s value. The property itself serves as a collateral against the loan amount.

Who can apply for a Mortgage Loan?

Anyone can apply for a Mortgage Loan; you just need to meet our basic eligibility criteria when applying for the loan.

What is the rate of interest for a Mortgage Loan?

Poonawalla Fincorp’s Mortgage Loans are offered at attractive interest rates starting from 9% p.a. You can also use our Mortgage Loan Calculator to plan your repayment schedule according to the tenure.

Is a Mortgage Loan a good idea?

Mortgage Loans are an excellent financial product for those looking to fulfil certain financial obligations like expanding existing businesses or property renovation. The loan terms are simple to understand and can be tailored to suit your specific requirements.

What are the types of Mortgage Loans?

The different types of Mortgage Loans mainly include:

*Terms & Conditions Apply

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