Top List of Loans Against Property Overdraft in Chandigarh as on Oct 09, 2024

Ishan Mahajan & Associates

Jassur, Kangra, 176201

( Also serves in Chandigarh )

3.0/5 Based on 2 Reviews

+08035428593

Loans Business Loans Car Loans

+24 more

Response Time: Within 15 MinsSulekha score: 4

Ishan Mahajan & Associates, based in Jassur, Kangra, offers a wide range of financial and legal services including chartered accountancy, bookkeeping, company registration, and GST consultation. They also specialize in digital signature services, physical verification of fixed assets, and auditing for both businesses and individuals. With over 12 years of experience, they serve clients not only in Kangra but also in nearby cities such as Chandigarh, Ambala, and Baddi. Located near UCO Bank on Talwara Road, the firm is known for providing expert services at competitive rates, ensuring timely and accurate solutions for their clients' financial needs

Available Loan Types:

Offering 50+ different types of loans

Loan Amount Range:

From less than ₹1 Lakhs to ₹1 Crore and above
Depending on the type of loan

Ishan from Kangra

"Excellent service at minimal cost"

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Global Indo Financial Services

Sector 52, Chandigarh, 160059

4.6/5 Based on 10 Reviews

+09021122700

Loans Business Loans CC Limit Loans

+6 more

Response Time: Within 15 MinsSulekha score: 5.8

Global Indo Financial Services, located in Sector 52, Chandigarh, offers a range of financial services including personal loans, home loans, business loans, and loans against property. The firm is known for providing customized solutions to meet individual financial needs. With a focus on quick processing and transparent terms, they cater to clients across Chandigarh. Their team of experts is dedicated to ensuring a seamless loan application experience. They are highly rated by users for their professional approach and customer satisfaction?

Available Loan Types:

Offering 8 different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹1 Crore
Depending on the type of loan

sunita from Chandigarh

"Time par mera loan hua"

Arun from Chandigarh

"Trustable company I applied loan last few day's ago nd maximum he will take 7/10 days for disbursement loan amount without any extra charges I received my amount yesterday in bank account. "

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Lending Pro

Dukhniwaran Sahib, Patiala, 147001

( Also serves in Chandigarh )

5.0/5 Based on 1 Reviews

Loans Business Loans Education Loans

+11 more

Sulekha score: 7.5Working hours: 9:30 AM to 5 PM

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narendra meena from Patiala

"Fast service "

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Mukesh Sharma

Chandigarh, Chandigarh, 160047

Loans Business Loans CC Limit Loans

+5 more

Sulekha score: 7.1Working hours: 9 AM to 8 PM

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Mudra Finance Services

Devi Road, Mainpuri, 205001 ( Also serves in Chandigarh )

Loans Business Loans CC Limit Loans

+14 more

Sulekha score: 6.8

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City Finance

Shivaji Nagar, Pune, 411005 ( Also serves in Chandigarh )

3.0/5 Based on 2 Reviews

Loans Business Loans CC Limit Loans

+5 more

Sulekha score: 6.3Working hours: 10 AM to 6 PM

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Omprakash from Pune

"OK very good very nice very nice "

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Fedbank Financial Services Ltd

Sector 29 B, Chandigarh, 160009

Unverified

+09021119982

Loans Business Loans CC Limit Loans

+7 more

Working hours: 9:30 AM to 5:30 PM

Fedbank Financial Services Ltd (Fedfina) acquired receipt of its NBFC license in 2010. Fedfina has 463 plus gold loan branches across the country. It caters to products like Gold Loan, Home Loan, Loan Against Property (LAP) and Business Loan. Fedbank Financial Services Limited is poised to emerge as a relevant player in the BFSI space. less

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Why Choose Sulekha?

Sulekha is your go-to platform for finding a wide variety of loan providers catering to diverse financial needs such as personal loans, Loans Against Property Overdraft, home loans, vehicle loans, mortgage loans, education loans, and more. With Sulekha, you gain access to a comprehensive network of reputable lenders, ensuring you find the perfect match for your specific requirements. The platform simplifies your search process, saving you time and effort by connecting you with trusted professionals who can offer tailored loan solutions. Choose Sulekha for a seamless and efficient loan-seeking experience.

1. When to Consider Taking Out a Loan Against Property Overdraft

Large Financial Requirements: When facing significant expenses like business expansion, higher education, medical emergencies, or weddings, a loan against property overdraft provides access to substantial funds.
Flexibility in Borrowing: This option allows you to withdraw varying amounts as needed and pay interest only on the utilized portion, offering greater financial control.
Lower Interest Rates: Loans against property typically have lower interest rates compared to unsecured loans like personal loans or credit cards, making them a cost-effective borrowing solution.
Long-Term Financing Needs: Suitable for long-term financial needs, these loans offer extended repayment periods, reducing the pressure of high monthly payments.
Cash Flow Management: For businesses, the ability to borrow and repay as needed helps manage cash flow efficiently, ensuring liquidity during fluctuating income periods.

2. Eligibility Criteria for Loans Against Property Overdraft

Ownership of Property: You need to own a residential or commercial property to pledge as collateral, ensuring the lender has security against the loan.
Age: Borrowers typically need to be between 21 and 65 years old, aligning with common working age and retirement considerations.
Income Stability: Demonstrating stable income, whether salaried or self-employed, assures the lender of your repayment ability, thus reducing their risk.
Credit Score: A good credit score, usually above 650-700, indicates creditworthiness and increases the likelihood of loan approval on favorable terms.
Property Valuation: The property must be free from encumbrances and have a clear title. The loan amount is often determined by the property's market value.
Employment Stability: For salaried individuals, a consistent work history of 2-3 years is required, while self-employed individuals need a steady business track record, typically 3-5 years.

3. Benefits and Advantages of a Loan Against Property Overdraft

High Loan Amount: These loans provide significant funding based on the property’s value, making them ideal for substantial financial needs.
Lower Interest Rates: The collateral nature of these loans often results in lower interest rates compared to unsecured borrowing options.
Flexible Repayment: Borrowers can withdraw and repay funds as needed within the sanctioned limit, offering flexibility in managing finances.
Interest on Used Amount: Interest is charged only on the amount you utilize, not on the entire overdraft limit, potentially reducing interest costs.
Longer Tenure: These loans come with extended repayment periods up to 15-20 years, easing the burden of large monthly installments.
Multiple End-Uses: The funds can be used for various purposes, including business expansion, education, and medical expenses, providing versatility.
Retain Ownership: You continue to own and use the property while leveraging its value for financial needs without having to sell it.

4. Important Factors to Consider When Taking a Loan Against Property Overdraft

Interest Rates and Fees: Compare various lenders to find the most competitive interest rates and understand all associated fees, including processing and prepayment charges.
Repayment Terms: Ensure you understand the flexibility in repayment options, tenure choices, and any penalties for early repayment.
Loan to Value (LTV) Ratio: Check the LTV ratio offered, which typically ranges from 50-70% of the property's value, influencing the maximum loan amount.
Eligibility and Documentation: Confirm you meet the lender's eligibility criteria and gather all necessary documentation such as property papers, income proof, and identity verification.
Property Valuation: Obtain an independent valuation of your property to ensure it accurately reflects market conditions and to determine potential loan amounts.
Impact on Cash Flow: Assess how the loan repayments will affect your monthly cash flow, ensuring you can manage the financial commitment comfortably.
Credit Score: Maintain a good credit score to negotiate better loan terms and increase your chances of approval.
Legal and Technical Verification: Ensure the property has a clear title and is free from legal disputes or encumbrances as lenders will conduct thorough checks before approving the loan.

5. Loans Against Property Overdraft Interest Rates?

Bank Name	Interest Rate (per annum)	Processing Fee	Maximum Tenure
State Bank of India (SBI)	7.45% - 10.65%	0.35% of loan amount (Min ₹2,000)	Up to 15 years
HDFC Bank	8.00% - 9.50%	Up to 1% of loan amount	Up to 15 years
ICICI Bank	8.50% - 10.50%	0.50% - 1% of loan amount	Up to 15 years
Axis Bank	8.90% - 11.25%	Up to 1% of loan amount (Min ₹10,000)	Up to 20 years
Bank of Baroda	8.15% - 10.15%	0.35% of loan amount (Min ₹10,000)	Up to 15 years
Punjab National Bank (PNB)	8.10% - 11.15%	0.50% of loan amount (Min ₹10,000)	Up to 15 years
Kotak Mahindra Bank	8.00% - 11.00%	Up to 1% of loan amount	Up to 15 years
IDFC First Bank	8.75% - 11.50%	1% of loan amount (Min ₹5,000)	Up to 20 years
IndusInd Bank	8.90% - 11.50%	0.75% - 1% of loan amount	Up to 20 years
Union Bank of India	8.40% - 10.90%	0.50% of loan amount (Min ₹7,500)	Up to 15 years

Please note: Interest rates and fees can vary based on the loan amount, tenure, credit profile of the borrower, and specific bank policies. It is advisable to check with the respective bank for the most accurate and updated information.

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Most Common Questions About Loans Against Property Overdraft

1. Who are the best Loans Against Property Overdraft providers in Chandigarh?

2. What documents are required for a Loans Against Property Overdraft?

You will need identity proof (like Aadhar or PAN card), address proof (such as utility bills), income proof (salary slips or IT returns), property documents, and a completed application form.

3. What are the eligibility criteria for a Loans Against Property Overdraft?

Eligibility typically includes being an Indian resident, a salaried or self-employed individual, and owning a residential or commercial property. The property should be free of legal issues, and your income should meet the lender’s criteria.

4. How do I apply for a Loans Against Property Overdraft online?

You can apply online with the Sulekha form above with your loan requirements, and connect with the best loan providers that suit your needs. Also you can visit the lender’s website, fill out the online application form with your personal and property details, upload the required documents, and submit the application. The lender will review your application and contact you for further processing.

5. How can I get an instant Loans Against Property Overdraft?

Instant approval may be possible through pre-approved offers from existing lenders, provided you meet their criteria. Otherwise, submit a complete and accurate online application with all required documents for faster processing.

6. What is the percentage rate for Loans Against Property Overdraft?

The interest rate varies by lender but typically ranges between 9% to 14% per annum, depending on factors like the borrower’s profile, loan amount, and tenure.

7. Can I get a Loans Against Property Overdraft with a low CIBIL score?

While a low CIBIL score can make it more challenging, some lenders may still offer the loan at higher interest rates or require additional security. It’s advisable to improve your score for better terms.

8. What is the processing fee for a Loans Against Property Overdraft?

Processing fees usually range from 0.5% to 2% of the loan amount, depending on the lender. This fee covers administrative costs associated with processing the loan application.

9. Can I get a Loans Against Property Overdraft with a bad credit score?

Obtaining a loan with a bad credit score is challenging but possible with certain lenders. You may need to provide additional collateral, a co-applicant, or be prepared for higher interest rates and stringent terms.

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4.3

Based on 7 Reviews

Arun Sector 52

11 Jul, 2024

Trustable company I applied loan last few day's ago nd maximum he will take 7/10 days for disbursement loan amount without any extra charges I received my amount yesterday in bank account.

Prince Sector 7

27 Oct, 2020

??bad service given by girls here Illiterate girls Jst 1 word POOR Replace staff My bad luck Not happy

Top Loans Against Property Overdraft Providers in Chandigarh

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Top List of Loans Against Property Overdraft in Chandigarh as on Oct 09, 2024

Ishan Mahajan & Associates

Global Indo Financial Services

Lending Pro

Mukesh Sharma

Mudra Finance Services

City Finance

Fedbank Financial Services Ltd

Latest User Reviews for Loans Against Property Overdraft in Chandigarh

Why Choose Sulekha?

1. When to Consider Taking Out a Loan Against Property Overdraft

2. Eligibility Criteria for Loans Against Property Overdraft

3. Benefits and Advantages of a Loan Against Property Overdraft

4. Important Factors to Consider When Taking a Loan Against Property Overdraft

5. Loans Against Property Overdraft Interest Rates?

Most Common Questions About Loans Against Property Overdraft

1. Who are the best Loans Against Property Overdraft providers in Chandigarh?

2. What documents are required for a Loans Against Property Overdraft?

3. What are the eligibility criteria for a Loans Against Property Overdraft?

4. How do I apply for a Loans Against Property Overdraft online?

5. How can I get an instant Loans Against Property Overdraft?

6. What is the percentage rate for Loans Against Property Overdraft?

7. Can I get a Loans Against Property Overdraft with a low CIBIL score?

8. What is the processing fee for a Loans Against Property Overdraft?

9. Can I get a Loans Against Property Overdraft with a bad credit score?

Tips & Solutions for Applying Loan View All Blogs

Home Buying Trends 2021

Important Things That NRIs Should Know About Home Loan In India

Home Loan Agreement- Important clauses to know!

How To Avoid Rejection Of Your Personal Loan Application