Loan Against Property
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Online Credit India offering customized secured term Loan services to the Salaried, SME Enterprises, Small Businesses and professionals. We continually focused on customer requirement base service for this product. We arrange maximum loan on lowest rate for our customer in this product. # Key Features & Product Facility 1. Loan available 80% to 100% against residential, commercial, industrial or land property valuation. 2. Loan amount available min Rs. 50 Lakhs to Rs. 100 cr. 3. Loan term min 5 years to 15 Years. 4. Interest rate and processing fee will be depending based on the schemes and company selected by the borrower. # Loan Eligibility Criteria 1. Minimum 3 Years old business vintage required. 2. Minimum 2 Years Audited Financial required. 3. Sole Proprietorship Firms, Partnership Firms, Private limited Companies can apply. 4.Manufacturers, Service Provider, Traders, Wholesalers, Retailers, and online sellers can apply. 5. Individual’s age limit should be between 21 years to 60 years. * Note: All final terms & condition will be as per selected Bank or NBFC policy.
Loan Against Property
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Online Credit India give solution of customized secured working capital solution by providing Loan Against Property to Small and Medium - sized Enterprises segment for suit the low interest funding requirements We provide guidance and solution after having assessed and understood their business model, creditability, financials and other parameters. Online Credit India believes that a SME Industry is still not getting lowest and maximum funding solution to establish and expand their business, and by customized lending in Small and Medium - sized Enterprises industry sector can be possible to grow the unorganized players in various regions in India. # Key Features & Product Facility 1. Loan available against Collateral of residential, commercial, industrial or land. 2. Loan against property for meeting working capital or business expansion finance requirement 3. Use Loan any where according to your business requirement. 4. Loan amount available from Rs. 10 lakhs to Rs. 100 cr. 5. Loan term offered Min 60 Month to 180 Month. 6. Interest rate and processing fee will be depending based on the schemes and company selected by the borrower. # Loan Eligibility Criteria 1. Sole Proprietorship Firms, Partnership Firms, Private limited Companies, Public limited Companies can apply. 2. Manufacturers, Service, Traders, Wholesalers, Retailers, self-employed professionals, merchants, builders, online sellers, catering services, tour & travels agencies can apply 3. Minimum 3 Years old business vintage required. 4. Minimum 2 Years Audited Financial required. 5. Individual's age limit should be between 21 years to 60 years. * Note: All final terms & condition will be as per selected Bank or NBFC policy.
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Loan Against Property
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Fresh Loan Against Property Loan Against Property (LAP) is a type of secured loan. A secured loan is a loan where the borrower mortgages his or her asset or property as collateral to the bank or the other lending institution. LAP could be used for several personal and professional needs such as house renovation, business expansion, purchase of a new machinery and other requirements. Typically the banks and other lending institutions offer loan against residential, commercial and industrial property. A borrower usually gets a fixed percentage of the property value known as LTV (Loan To Value) as loan amount against the property. The loan to value (LTV) varies from one bank to another. Usually, the loan to value ranges from 40% to 70% of the property value. The borrower can continue using the property that is mortgaged with the bank for its respective use. Purpose of Loan Against property Loan Against Property could be used for several purposes mentioned below: Business Expansion - Purchase of a new property - Purchase of raw material - For immediate working capital requirement - Acquiring a new machinery - Investment in new technology for business Eligibility Criteria for Loan Against Property (LAP) To obtain Loan Against Property the borrower should fulfil the eligibility criteria. The following factors affect the loan eligibility of the borrower: Eligibility Factor Age - Minimum 21 years (At the time of loan application) - Maximum 65 years (At the time of loan maturity) - However, the age may go up to 70 years and above in special cases. Job Experience or Business Stability - Salaried Employees: Minimum of 2-3 years - Self-Employed: Cash profit of at least 3 years Credit Score - Good Credit Score - (650 and above is usually acceptable)
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