'Loan Against Property', also known as LAPs is one of the variants of personal loan. This is a type of secured loan which comes handy in times of immediate financial needs. As per the name, the borrower can apply for loan from banks or NBFCs by giving their property as collateral. The type of property can be residential or commercial which is in current use. A borrower can keep one or more properties as collateral which belongs to him or her. Banks or NBFCs evaluate the current value of the particular property and give the loan amounting 40% - 60% of the land value. Even though your property is kept as a mortgage to the financial institution, you are allowed to live in or use the property as you desire.
Capital First Limited, listed in NSE and BSE, is a leading Indian financial institution, specializing in providing debt financing to MSMEs and Consumers in India. The company enjoys the highest long term credit rating of AAA. It is the leading financial institution in India to give away personal loan. Capital first gives loan against property amounting from Rs. 5,00,000 to Rs. 10 Crore. Their loan tenure is up to 15 years and they give loan up to 70% of property's market value.
Capital First offers interest rate for LAP between 12% to 13.50%. They also apply a processing fee as minimum as 1% of the loan amount plus tax. Foreclosure charges of 4% on outstanding amount are also charged with tax.
Capital First offers loan against property to borrowers who fulfill their designed eligibility. The Eligibility Criteria changes as per the profile of the borrower. But there are some commonalities which you have to follow or acquire to get a loan against property from Capital First.
The Eligibly Criteria for Capital First's loan against property also changes based on applicant's profession. The details of the same are given below:
The list of documents for availing Capital First's loan against property changes whether you're a salaried applicant or a self-employed professional/ businessman. The process of getting a loan against property can be made easier if you know exactly what documents you need to submit with your application. The documents are filed according to the eligibility criteria. Below given is a generic list of required documents to get Capital First's loan against property:
Ruloans is India's fastest growing financial distributors. A comprised team with mammoth experience in finance and internally developed highly proficient Loan Calculator algorithm, we are pledged to offer solutions to all your financial needs. Borrowers can apply for Capital First's loan against property with Ruloans' latest online application process. We help you borrow right.
We have developed an efficient, smooth and easy process for our consumers to get Capital First's loan against property. Our easy to use online procedure allows consumers to apply documents quickly. Our highly proficient Loan Calculator also guides the consumers to embark on a hassle free process.
We value our consumers and are always on our toes to give them benefits of our expertise. Applying for Capital First's loan against property with us, gives you a chance to avail the best offers and deals from Capital First.
You can compare interest rates, offers and services on our online portal. This will guide you to make the right choice and choose the right lender for your loan as per your budget.
Our financial experts are always ready to give you the perfect advice. These highly trained professionals in finance know the back and forth of the industry. Our dedicated team of experts will help you at any given time, without charging a dime.
We, at Ruloans understand the value of your documents and keeping them safe and private. Your loan applications are processed electronically with complete privacy and transparency.
Yes, there can be a co-applicant for the Capital First's loan against property. The co-applicant is your spouse. But if the given property is owned by multiple people, all the owners become co-applicant automatically.
Loan against property can be repaid in the form of EMI (Equated Monthly Installments).
Yes, you can track your application via SMS and email. We also provide the facility to track your application on our website via login menu.
For your loan-related queries, you can call our representative on 1800 2667576 or mail us at email@example.com