Top Loan Against Property Providers in Visakhapatnam - Mortgage Loans

Top List of 5 Property Loan in Visakhapatnam. Get an instant property loan with low interest rate, Also lending property loan, lap loan, Loans against rent receivables, Loan against pro#rty without map and more. Find Loan Against Property service providers near your location. as on Dec 02, 2024

Sri Sai Teja Home Deals

Dondaparthy, Visakhapatnam, 530016

5.0/5 Based on 5 Reviews

+07569002704

Loans

Response Time: Within 15 MinsSulekha score: 7.8

Sri Sai Teja Home Deals, located in Dondaparthy, Visakhapatnam, is a reputable finance company offering a wide range of financial services. Established in 2000, the company is led by A. Srinivasa Rao and specializes in providing home loans, mortgage loans, business loans, personal loans, and plot loans. They are committed to helping individuals and businesses achieve their financial goals with customized loan options tailored to various needs. Whether you are looking to purchase a home, refinance, or obtain funding for your business, Sri Sai Teja Home Deals strives to make the process efficient and transparent

Available Loan Types:

Offering 10+ different types of loans

Loan Amount Range:

From ₹10 Lakhs to ₹1 Crore and above
Depending on the type of loan

Satish p from Visakhapatnam

"Very good and exlent service Very good knowledge persons "

Bharatgi from Visakhapatnam

"Good service, well known persons, genuine work "

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Ratan Associates

Dwaraka Nagar, Visakhapatnam, 530016

+08069868445

Loans

Response Time: Within 15 MinsSulekha score: 4.9

Ratan Associates, located in Dwaraka Nagar, Visakhapatnam, specializes in providing a range of financial services. Established over 7 years ago, they offer home loans, mortgage loans, personal loans, and loans against property?. Their expertise lies in helping clients navigate financial options with ease, ensuring fast response times and reliable solutions?. With a customer-centric approach, Ratan Associates is known for delivering personalized financial advice and support. The company has earned a solid reputation for professionalism and efficiency, serving both individuals and businesses across Visakhapatnam. Their experienced team is dedicated to meeting clients' diverse financial needs, ensuring transparent and effective services.

Available Loan Types:

Offering 9 different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹55 Lakhs and above
Depending on the type of loan

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SV Fin Serv

Akkayyapalem, Visakhapatnam, 530016

+09021118433

Loans

Sulekha score: 4.9Working hours: 10 AM to 6 PM

SV Fin Serv, located in Akkayyapalem, Visakhapatnam, is a reputable financial service provider offering a wide range of loan options tailored to meet diverse needs. They specialize in various types of loans, including personal, home, business, and vehicle loans, providing flexible financing solutions for individuals and businesses. With a customer-centric approach, SV Fin Serv ensures hassle-free processing and quick disbursement of loans. Their services are marked by transparency, competitive interest rates, and personalized financial advice to help clients make informed decisions. They have built a strong reputation in the region for their reliability and commitment to customer satisfaction?

Available Loan Types:

Offering 20+ different types of loans

Loan Amount Range:

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

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Shourya Associates

Dwaraka Nagar, Visakhapatnam, 530016

+08069670322

Loans Construction Loans Loan against Mutual Funds

+3 more

Sulekha score: 7.1Working hours: 9 AM to 6 PM

Welcome to Shourya Associates, where we help you achieve your financial goals with our wide range of services. Established in the bustling city of Dwaraka Nagar (Visakhapatnam Bus Station), we have been in the business for several years and have successfully catered to the needs of numerous satisfied customers. Our team of experts is dedicated to providing the best solutions for all your financial needs. We offer a variety of loans, including vehicle loans, home loans, education loans, business loans, mortgage loans, loan against securities & cards, personal loans, project loans, gold loans, NRI loans, unsecured loans, private finance loans, machinery loans, and more. With flexible options for both CIBIL defaulters (score below 750) and non-CIBIL defaulters (score above 750), we have something for everyone. Whether you are in India or abroad, looking for a loan between 1 - 5 lakhs or more than 20 lakhs, we have got you covered. Our services

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Shri Vinayak Enterprises

Vaishali Nagar, Jaipur, 302021

( Also serves in Visakhapatnam )

Loans

Sulekha score: 7.8Working hours: 10 PM to 7 PM

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Punith

Laggere, Bangalore, 560078 ( Also serves in Visakhapatnam )

Loans

Sulekha score: 7.1Working hours: 10 AM to 6 PM

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Sagar Enterprises

Malviya Nagar, Delhi, 110017 ( Also serves in Visakhapatnam )

1.0/5 Based on 1 Reviews

Loans Construction Loans

Sulekha score: 6.6Working hours: 10 AM to 5 PM

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Sri Balaji Associates

Begumpet, Hyderabad, 500016

( Also serves in Visakhapatnam )

4.9/5 Based on 7 Reviews

Loans

Sulekha score: 7.5Working hours: 09:00 am to 05:00 pm

Sri Balaji Associates, located in Begumpet, Hyderabad, is a well-established partnership firm founded in December 2007. The firm primarily operates in the financial services sector, focusing on various loan services including home loans, business loans, mortgage loans, and personal loans. Their office is situated at Mehar Manjil, Dwarakapuri Colony, Punjagutta, Hyderabad. Classified as a micro-enterprise under MSME, Sri Balaji Associates has been serving the community for over 16 years, offering customized financial solutions to meet the diverse needs of its clients. The firm is known for its reliable services in the financial domain and maintains a strong presence in the local market.

Available Loan Types:

Offering 12 different types of loans

Loan Amount Range:

From ₹10 Lakhs to ₹1 Crore
Depending on the type of loan

arunprasad from Hyderabad

"Personal loqn"

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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, loan against property, home loans, vehicle loans, car 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?

Business Expansion: If you are an entrepreneur or business owner looking to expand your business, a LAP can provide the necessary capital. The lower interest rates compared to unsecured loans make it a cost-effective option for funding significant business activities such as opening new branches, purchasing equipment, or increasing inventory.
Debt Consolidation: When you have multiple high-interest debts, consolidating them into a single LAP can reduce your overall interest burden. This simplifies repayment and can lead to significant savings on interest payments over time.
Large Personal Expenses: LAP is suitable for financing large personal expenses such as:
- Higher education: Funding your or your child's education, especially if studying abroad.
- Medical emergencies: Covering substantial medical expenses not fully covered by insurance.
- Weddings: Financing wedding expenses, which can be substantial in some cultures.
Home Renovation or Improvement: If you plan to renovate or improve your property, taking a LAP can be a good option. It allows you to use the property itself to generate funds for its enhancement, potentially increasing its value further.
Investment Opportunities: When a lucrative investment opportunity arises, a LAP can provide the necessary funds. However, ensure that the expected returns outweigh the cost of the loan to avoid financial strain.
Tax Benefits: In some jurisdictions, interest paid on a LAP used for specific purposes such as business or home renovation may be eligible for tax deductions. Consult with a tax advisor to understand the potential tax benefits in your case.
Lower Interest Rates: LAPs generally have lower interest rates compared to personal loans or credit cards because they are secured by property. If you qualify for favorable interest rates, this can make LAP an attractive option for financing needs.
Longer Repayment Tenure: LAPs typically offer longer repayment tenures compared to unsecured loans, which can result in lower monthly installments and reduced financial pressure. This can be advantageous if you need a substantial amount of money and prefer manageable monthly payments.

2. Eligibility Criteria for Taking a Loan Against Property?

Age: The applicant should typically be between 21 to 65 years old. Some lenders may have slightly different age criteria, but generally this range is standard for most financial institutions.
Income: For salaried individuals, a consistent income with a minimum required salary is essential. Self-employed individuals need to show a stable income from their business or professional practice, with lenders often requiring a minimum annual income based on business turnover and profitability.
Employment Stability: Salaried individuals need at least 2-3 years of continuous employment, with a minimum of 1 year in the current job. Self-employed individuals should have a minimum of 3-5 years in their current business or profession to demonstrate stability.
Property Ownership: The pledged property must be owned by the applicant and can be residential, commercial, or industrial. It should be free of disputes and have clear title ownership to qualify as collateral.
Credit Score: A good credit score, usually 650 or higher, is crucial for loan approval. A higher score can result in better loan terms and interest rates, reflecting the applicant's creditworthiness.
Property Valuation: The loan amount is typically 50% to 70% of the property's market value. Lenders assess the property's condition, location, and marketability to determine its valuation.
Documentation: Required documents include identity proof, address proof, income proof, property documents, and bank statements. Self-employed individuals may need to provide additional documents like business continuity proof, balance sheets, and profit & loss statements.
Existing Liabilities: Lenders evaluate existing debts and financial obligations to assess the applicant's repayment capacity. This helps determine the overall financial health and risk involved in lending.
Purpose of the Loan: Lenders may inquire about the loan's purpose, such as business expansion, debt consolidation, education, or medical expenses. Knowing the loan's purpose helps in assessing its appropriateness and risk.
Loan Tenure: Loan tenure typically ranges from 5 to 15 years, with some lenders extending up to 20 years based on the applicant's profile and the lender's policies. Longer tenure may affect the overall interest paid.
Additional Considerations: Lenders may have additional requirements or specific eligibility criteria based on their internal policies and risk assessment frameworks. Comparing offers from different lenders can help find the most suitable terms and conditions.

3. What are the Benefits and Advantages of a Loan Against Property?

Lower Interest Rates: The secured nature of LAP means lenders offer lower interest rates compared to unsecured loans. Additionally, the longer repayment tenures, ranging from 5 to 15 years, lead to lower EMIs and easier repayment schedules.
High Loan Amount: LAPs provide substantial financing, with loan amounts often up to 60-70% of the property's market value. This significant fund can be used for various purposes such as business expansion, education, or medical emergencies.
Retain Property Ownership: Borrowers retain ownership of their property while using it as collateral. This means they can continue to use the property and benefit from any increase in its value over time.
Flexible Repayment Options: Borrowers can choose repayment tenures that fit their financial situation, from short-term to long-term options. Additionally, many lenders allow prepayment or foreclosure with minimal charges, reducing the overall interest burden.
Tax Benefits: If the loan is used for business purposes, the interest paid can be claimed as a business expense, reducing taxable income. Loans used for home renovation or purchase may also qualify for tax benefits under Section 24(b) of the Income Tax Act.
Improved Credit Score: Regular and timely repayment of the loan can positively impact the borrower’s credit score, improving their creditworthiness for future borrowings.
No Restriction on Usage: LAPs offer flexible utilization, allowing borrowers to use the funds for any purpose without stringent restrictions, making it a versatile financial solution.
Leverage Idle Property: Property that is not generating income can be leveraged to secure a loan, effectively turning a non-liquid asset into usable funds, thus monetizing idle property.

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

Property Valuation: Understand the current market value of your property as it determines the loan amount you can avail. Note that the lender's valuation might differ from your expectations.
Loan-to-Value Ratio (LTV): Lenders typically offer 60% to 80% of the property's value. Higher LTV ratios might attract higher interest rates, so it’s essential to consider this when applying.
Interest Rates: Choose between fixed and floating interest rates. Fixed rates remain constant while floating rates can change with market conditions. Comparing rates from different lenders can help you find the most competitive offer.
Repayment Terms: Loan tenures can range from 5 to 20 years or more, with longer tenures resulting in lower EMIs but higher overall interest payments. Check for any prepayment or foreclosure charges as well.
Eligibility Criteria: Lenders assess income stability and repayment capacity, so ensure you have sufficient income to meet the EMIs. A higher credit score can increase approval chances and result in better terms.
Processing Fees and Other Charges: Be aware of processing fees, legal charges, valuation fees, and administrative costs. Watch out for hidden charges that could increase the overall cost of the loan.
Documentation: Ensure you have all necessary property documents such as the title deed and property tax receipts, as well as personal financial documents, ID proofs, and address proofs.
Purpose of the Loan: Clearly define the loan's purpose, whether for business expansion, education, medical expenses, or home renovation. Ensure the purpose justifies the interest and principal repayments.
Legal and Regulatory Factors: Ensure the property has a clear title and is free from legal disputes. Verify that it complies with local municipal regulations and zoning laws.
Risks and Contingencies: Consider the risk of default and the implications of losing your property. Maintain an emergency fund to cover EMIs in case of unforeseen financial difficulties.

5. Loan Against Property Interest Rates?

Bank	Interest Rate (p.a.)	Processing Fee	Loan Amount	Tenure
HDFC Bank	8.50% - 10.00%	Up to 1.00% of loan amount	Up to ₹5 crore	Up to 15 years
ICICI Bank	8.90% - 9.75%	Up to 1.00% of loan amount	Up to ₹5 crore	Up to 15 years
State Bank of India (SBI)	7.90% - 9.50%	0.35% of loan amount (max ₹10,000)	Up to ₹7.5 crore	Up to 15 years
Axis Bank	9.00% - 11.00%	Up to 1.00% of loan amount	Up to ₹5 crore	Up to 20 years
Kotak Mahindra Bank	9.25% - 11.25%	Up to 1.00% of loan amount	Up to ₹3 crore	Up to 15 years
Bank of Baroda	8.15% - 9.85%	1.00% of loan amount	Up to ₹10 crore	Up to 15 years
Punjab National Bank (PNB)	8.40% - 10.05%	1.00% of loan amount	Up to ₹5 crore	Up to 15 years
Canara Bank	8.75% - 10.30%	Up to 1.00% of loan amount	Up to ₹5 crore	Up to 10 years
IDFC First Bank	9.50% - 11.00%	Up to 1.50% of loan amount	Up to ₹10 crore	Up to 20 years
Union Bank of India	8.25% - 10.00%	Up to 1.00% of loan amount	Up to ₹10 crore	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 Loan Against Property

1. Who are the best Loan Against Property providers in Visakhapatnam?

Sri Sai Teja Home Deals
Ratan Associates
SV Fin Serv
Shourya Associates
Shri Vinayak Enterprises

2. What documents are required for a Loan Against Property?

To apply for a Loan Against Property, you'll typically need identity proof (like Aadhaar or PAN card), address proof, property documents, income proof (salary slips or IT returns), and bank statements for the last 6-12 months.

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

Eligibility criteria include being an Indian resident, aged between 21 to 65 years, with a stable income. Both salaried and self-employed individuals can apply, and the property should be free of legal issues.

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

To apply online, you can fill out 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 application form with required details, upload the necessary documents, and submit. The lender will review your application and contact you for further steps.

5. How can I get an instant Loan Against Property?

Instant loans against property are available from select lenders with streamlined processes. You need to have all documents ready and apply through their quick approval portals, often getting approval within 24-48 hours.

6. What is the percentage rate for Loan Against Property?

Interest rates for a Loan Against Property typically range from 8% to 15% per annum, depending on the lender, loan amount, tenure, and your credit profile.

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

Yes, it is possible, but a low CIBIL score might result in higher interest rates and stricter terms. Some lenders specialize in providing loans to individuals with lower credit scores.

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

Processing fees for a Loan Against Property generally range from 0.5% to 2% of the loan amount, varying by lender. Additional charges like legal fees and valuation charges may also apply.

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

Getting a loan with a bad credit score is challenging but not impossible. You may face higher interest rates and stringent conditions. Some lenders may require a guarantor or additional collateral.

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Top Loan Against Property in Visakhapatnam

What type of mortgage loan do you need?

Find the Top Loan Against Property Loan Providers from Sulekha in Visakhapatnam

Top List of 5 Property Loan in Visakhapatnam. Get an instant property loan with low interest rate, Also lending property loan, lap loan, Loans against rent receivables, Loan against pro#rty without map and more. Find Loan Against Property service providers near your location. as on Dec 02, 2024

Sri Sai Teja Home Deals

Ratan Associates

SV Fin Serv

Shourya Associates

Shri Vinayak Enterprises

Punith

Sagar Enterprises

Sri Balaji Associates

Recently Connected Loans Business Partners in Visakhapatnam

Why Choose Sulekha?

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

2. Eligibility Criteria for Taking a Loan Against Property?

3. What are the Benefits and Advantages of a Loan Against Property?

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

5. Loan Against Property Interest Rates?

Most Common Questions About Loan Against Property

1. Who are the best Loan Against Property providers in Visakhapatnam?

2. What documents are required for a Loan Against Property?

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

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

5. How can I get an instant Loan Against Property?

6. What is the percentage rate for Loan Against Property?

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

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

9. Can I get a Loan Against Property 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