Skip to main content

Property Loan(Laxmi Narayan Finances)

What is a Property Loan? A property loan is a loan taken to purchase or construct a property, and you repay it in EMIs (Equated Monthly Installments) over a set period, usually 10-20 years. Features 1. *High Loan Amount*: Get funding for a significant portion of the property's value. 2. *Long Repayment Tenure*: Repay the loan over a long period, making EMIs manageable. 3. *Tax Benefits*: Claim tax deductions on the interest paid and principal repayment. 4. *Flexible Options*: Choose from fixed or floating interest rates, and customize your repayment schedule. Eligibility 1. *Age*: Typically, you should be between 21-60 years old. 2. *Income*: Show a stable income to prove you can repay the loan. 3. *Credit Score*: A good credit score (750+) will help you get a better interest rate. 4. *Property Value*: The loan amount depends on the property's value and your income. Documents Required 1. *ID Proof*: Aadhaar, PAN, Passport, or Driving License 2. *Income Proof*: Salary slips, Ban...

Property Loan(Laxmi Narayan Finances)







What is a Property Loan?
A property loan is a loan taken to purchase or construct a property, and you repay it in EMIs (Equated Monthly Installments) over a set period, usually 10-20 years.

Features

1. *High Loan Amount*: Get funding for a significant portion of the property's value.
2. *Long Repayment Tenure*: Repay the loan over a long period, making EMIs manageable.
3. *Tax Benefits*: Claim tax deductions on the interest paid and principal repayment.
4. *Flexible Options*: Choose from fixed or floating interest rates, and customize your repayment schedule.

Eligibility

1. *Age*: Typically, you should be between 21-60 years old.
2. *Income*: Show a stable income to prove you can repay the loan.
3. *Credit Score*: A good credit score (750+) will help you get a better interest rate.
4. *Property Value*: The loan amount depends on the property's value and your income.


Documents Required

1. *ID Proof*: Aadhaar, PAN, Passport, or Driving License
2. *Income Proof*: Salary slips, Bank statements, or I-T returns
3. *Address Proof*: Utility bills, Rent agreement, or Property documents
4. *Property Documents*: Sale deed, Property tax receipts, etc.

 

Popular posts from this blog

EMI Calculator

  Laxmi Narayan Finances
Read more

Project Loan

What is a Project Loan? A project loan is a type of loan given to businesses or individuals to finance a specific project, like construction, expansion, or modernization. The loan is repaid from the project's cash flows. Features 1. *Large Ticket Size*: Project loans are typically large, catering to big projects. 2. *Long Tenure*: Repayment tenure can be long, aligned with the project's cash flow generation. 3. *Customized Repayment*: Repayment schedules are often tailored to the project's cash flow. 4. *Interest Rates*: Rates may be competitive, depending on the borrower's creditworthiness. Eligibility 1. *Business Entity*: Typically, companies, partnerships, or proprietorships are eligible. 2. *Project Viability*: The project should be viable and have good growth prospects. 3. *Creditworthiness*: The borrower's credit history and financial health are assessed. 4. *Collateral*: Security, like property or assets, may be required. Documents Required 1. *Project Repor...
Read more