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Loan Against Property

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Business loan in madurai
  • Sole Proprietor
  • Partnership
  • Private Limited
  • LLP
  • Limited Company

Why Choose Kfis?

  • Apply in few minutes
  • Fast Approval
  • Tenure up to 60 months
  • Get money in 24 Hrs
  • No Branch Visit
  • Multiple Choice Of Lenders
Kfis

We Are Channel Partner With 20+ Banks & NBFC

Who Can Apply?

CIBIL Score of 700 or higher
Business operational for 2+ years
12 months bank statement
Monthly GST sales returns

Who can get Loan Against Property with Kfis?

  • Professional Doctors
  • Clinics & hospitals
  • Engineers, Architects, Chartered Acc
  • Manufacturing Industries
  • Factory & Industries
  • Traders in All Sectors
  • Project contractors
  • Suppliers
  • Distributors & Dealers
  • Wholesalers & Retailers
  • Super markets
  • Showrooms
  • Boutiques
  • Hotels & Restaurants
  • Pharmacy
  • Schools & Colleges ( Trusts )
  • Business Consultants
  • Supply Chain & Logistics
  • Transport contractors
  • Information Technology (IT companies) Etc...

Loan Against Property Who Apply

  • Sole Proprietor
  • Partnership
  • Private Limited
  • LLP
  • Limited Company
  • Salaried Employees
  • Self-Employed Professionals
  • Self-Employed Non-Professionals
  • Creditworthiness
  • Property Ownership
Documentation for Business Loan in Chennai

Eligibility Criteria for Loan Against Property

  • Age: Applicants must be between 21 to 65 years at the time of loan maturity.
  • Property Ownership: The property offered as collateral must be in the applicant’s name with clear titles.
  • Income Proof: Salary slips for salaried individuals or financial documents for self-employed individuals are required.
  • Credit Score: A credit score of 650 or higher is preferred, but exceptions may apply.
  • Repayment Capacity: Applicants must demonstrate sufficient income to cover loan repayment.
  • Employment Status: Salaried employees, self-employed professionals, and business owners are eligible.
  • Property Type: Both residential and commercial properties are accepted as collateral.

Documentation for Loan Against Property

  • Completed application form with personal and property details.
  • Proof of identity (Aadhar card, passport, or voter ID).
  • Proof of address (utility bills, rental agreement, etc.).
  • Income proof ( ITR, bank statements, Etc..).
  • Property documents (title deed, sale agreement, etc.).
  • Photographs of the property and property valuation report.
  • Post-dated cheques or ECS mandate for repayment.
Documentation for Business Loan in Chennai
Business Loan In trichy

Loan Against Residential Property

  1. Lenders provide up to 70%-80% of the property value.
  2. Competitive interest rates (8%-10% annually).
  3. Long repayment tenures (up to 20 years).
  4. Loans can be availed against self-occupied or rented residential properties.
  5. Funds can be used for personal or business needs.
  6. Quick approval for properties with clear documentation.
  7. Flexible eligibility for salaried and self-employed individuals.

Loan Against Commercial Property

  1. Higher loan amounts due to the high valuation of commercial properties.
  2. Interest rates are slightly higher than residential LAP.
  3. Loan tenure up to 15 years.
  4. Suitable for business expansion or working capital needs.
  5. Properties like offices, shops, and showrooms are eligible.
  6. Simple documentation for clear title deeds.
  7. Loan-to-Value (LTV) up to 60%-70%.
unsecured business loan in trichy
msme loan in trichy

Lease Rental Discounting (LRD)

  1. Loan sanctioned against future rental income.
  2. Ideal for property owners with long-term tenants.
  3. Stable cash flow ensures predictable repayment.
  4. Tenants’ creditworthiness plays a role in loan approval.
  5. LTV can go up to 70% of the property value.
  6. Long tenures with fixed or floating interest rates.
  7. Commonly used for business funding or debt refinancing.

Overdraft Facility Against Property

  1. Provides flexibility to withdraw funds as needed.
  2. Interest charged only on the utilized amount.
  3. Repayments can be adjusted based on cash flow.
  4. Ideal for businesses with variable financial needs.
  5. No fixed EMIs; pay as per your convenience.
  6. Collateral can be residential or commercial property.
  7. Overdraft limit depends on property valuation.
msme loan in trichy
msme loan in trichy

Top-Up Loan on Existing LAP

  1. Additional funding on an existing loan without property revaluation.
  2. Quicker disbursement due to pre-approved loan relationship.
  3. Used for emergencies, renovations, or business needs.
  4. Competitive rates similar to the original LAP.
  5. No need to close the ongoing loan to access new funds.
  6. Processing fees may be reduced for loyal customers.
  7. Available for both salaried and self-employed borrowers.

Balance Transfer with Top-Up

  1. Transfer an existing LAP to another lender for lower interest rates.
  2. Option to avail additional funds as a top-up loan.
  3. Reduces overall EMI burden with better terms.
  4. Retains the same collateral property as security.
  5. Ideal for borrowers with improved credit profiles.
  6. Processing fees may apply for balance transfer.
  7. Attractive for borrowers nearing the end of their tenure.
msme loan in trichy
msme loan in trichy

Loan for Self-Employed Professionals

  1. Tailored for professionals like doctors, lawyers, or consultants.
  2. Income proof from professional practice is considered.
  3. Funds can be used for clinic setup, expansion, or personal needs.
  4. High approval rates for steady income profiles.
  5. Flexible repayment tenure up to 15 years.
  6. Loan eligibility based on practice stability and property value.
  7. Collateral can be residential or commercial property.

Loan for Salaried Individuals

  1. Designed for salaried individuals with fixed monthly income.
  2. Easy eligibility with income and employment proof.
  3. Suitable for personal expenses like weddings or education.
  4. Repayment tenure ranges from 5 to 20 years.
  5. Higher LTV ratios compared to other products.
  6. Faster processing for applicants with clear property documents.
  7. Loans against self-occupied or rented properties.
msme loan in trichy
msme loan in trichy

Agricultural Property Loan

  1. Loan offered against agricultural land in select cases.
  2. Subject to lender-specific regulations.
  3. Interest rates may be slightly higher due to niche nature.
  4. Funds can be used for business or other purposes.
  5. LTV ratio is generally lower, around 50%-60%.
  6. Approval depends on clear land ownership records.
  7. Not all lenders provide loans against agricultural land.

Industrial Property Loan

  1. Loan sanctioned against factories or industrial properties.
  2. Higher loan amounts for business expansion or machinery purchase.
  3. Tenure ranges from 5 to 15 years.
  4. Suitable for manufacturing or production-related enterprises.
  5. Slightly higher interest rates due to specialized collateral.
  6. Requires detailed property and business documentation.
  7. Approval based on business stability and property valuation.
msme loan in trichy

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Frequently Asked Question

What is a Loan Against Property (LAP) offered by KFIS?

LAP is a secured loan where you pledge your residential, commercial, or industrial property as collateral to avail funds.

What is the maximum loan amount I can get from KFIS?

The loan amount typically depends on the market value of the property, with a maximum of up to 70%-80% of the property’s value.

What is the tenure for a KFIS LAP?

The tenure can range from 5 years to 15 years, depending on the loan amount and your repayment capacity.

What documents are required for a KFIS LAP application?
  1. Property documents
  2. Proof of identity and address
  3. Income proof (salary slips, ITR, etc.)
  4. Bank statements
  5. Other documents as requested by KFIS.
What types of properties are eligible for KFIS LAP?

Residential, commercial, and sometimes industrial properties owned by the borrower can be pledged.

What is the interest rate for KFIS LAP?

Interest rates are competitive and vary based on the applicant’s profile and the property being pledged. Typically, rates range from 9% to 15%.

Are there any processing fees or hidden charges for KFIS LAP?

Processing fees usually range from 0.5% to 1% of the loan amount. Other charges, like legal fees and valuation charges, may also apply.

Can I prepay or foreclose my KFIS LAP?

Yes, KFIS allows prepayment or foreclosure, but charges may apply as per the agreement terms.

Are there tax benefits for taking a LAP with KFIS?

Tax benefits are available if the loan is used for specific purposes, such as business investment or property purchase.

How long does it take for KFIS to process a LAP application?

The processing time depends on document verification and property valuation but usually takes 7-15 working days.

Areas we serve

  • Chennai
  • Coimbatore
  • Madurai
  • Tiruchirappalli
  • Salem
  • Tirunelveli
  • Tiruppur
  • Erode
  • Vellore
  • Thoothukudi
  • Dindigul
  • Tambaram
  • Thanjavur
  • Hosur
  • Nagercoil
  • Cuddalore
  • Kanchipuram
  • Karur
  • Kumbakonam
  • Rajapalayam
  • Sivakasi
  • Pollachi
  • Neyveli
  • Poonamallee
  • Ambur
  • Arakkonam
  • Gudiyatham
  • Namakkal
  • Pudukottai
  • Ramanathapuram
  • Udhagamandalam
  • Dharmapuri
  • Perambalur
  • Villupuram
  • Tenkasi
  • Marakkanam
  • Theni
  • Virudhunagar
  • Tiruvannamalai
  • Chidambaram
  • Arani
  • Tiruvallur
  • Mayiladuthurai
  • Nagapattinam
  • Avadi
  • Manapparai
  • Pattukkottai
  • Kodaikanal
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