| Banks / NBFCs | Interest Rates | Tenure | Processing Fees |
| HDFC Bank | Starting 9.40% & Above | Maximum 15 years | 0.50% |
| ICICI Bank | Starting 9.40% & Above | Maximum 15 years | 0.75% |
| Kotak Mahindra Bank | Starting 9.40% & Above | Maximum 15 years | 0.50% |
| Axis Bank | Starting 9.40% & Above | Maximum 15 years | 0.50% |
| IDFC Bank | Starting 9.40% & Above | Maximum 20 years | 1% |
| Standard Chartered Bank | Starting 9.40% & Above | Maximum 15 years | 0.50% |
| Deutsche Bank | Starting 9.40% & Above | Maximum 15 years | 0.75% |
| Bajaj Finance | Starting 9.75% & Above | Maximum 15 years | 1% |
| L&T Finance | Starting 9.75% & Above | Maximum 15 years | 1% |
| India Bulls | Starting 10.5% & Above | Maximum 15 years | 1% |
| RBL Bank | Starting 9.50% & Above | Maximum 15 years | 1% |
| Hero Fincorp | Starting 11% & Above | Maximum 15 years | 1% |
| HDB Finance | Starting 9.75% & Above | Maximum 15 years | 1% |
| HSBC | Starting 9.5% & Above | Maximum 15 years | 0.50% |
| Shinhan Bank | Starting 9.10% & Above | Maximum 15 years | 0.50% |
| AU Small Finance Bank | Starting 10% & Above | Maximum 15 years | 1% |
Nestled in the state of Uttar Pradesh, Ghaziabad is a vibrant city within the National Capital Region (NCR), adjacent to Delhi. Founded in 1740 by Ghazi-ud-din, it has grown into a prominent urban and industrial hub.
Well-connected by road and rail, Ghaziabad plays a pivotal economic role with a flourishing industrial sector. In the face of life’s uncertainties and evolving financial scenarios, property ownership here facilitates convenient access to OneNDF’s Loan Against Property during times of crisis.
Economy of Ghaziabad
Ghaziabad’s economy thrives on a diverse industrial landscape, particularly in the steel sector, earning it the title “Steel Power” of Uttar Pradesh. With over 500 organisations and 25,000 employees in steel alone, the city also boasts a flourishing manufacturing sector encompassing apparel, transportation equipment, dairy products, ceramics, and electronics.
This industrial boom not only generates employment but propels the real estate sector to unprecedented heights. Ghaziabad’s economic dynamism is evident in various sectors, making it a vital economic powerhouse and a hub of growth in Uttar Pradesh.
Features & Benefits of Loan Against Property
1. Mortgage loan amount:
You could get anywhere from INR 20 lakh to INR 7.5 crore, depending on how much your property is worth and other things that make you eligible.
2. Low-Interest Rate:
Get the best deal on interest rates with OneNDF Loans, so you can easily afford and efficiently finance your property.
3. Loan-to-Value Ratio:
You can get a Loan-to-Value (LTV) Ratio of up to 75% of your property’s value, giving you enough money to meet your goals and allowing you to borrow more based on your property’s worth.
4. Hassle-free Documentation:
Make the loan application process easier with OneNDF Loans, as we guarantee hassle-free paperwork for your convenience.
5. Tenure:
The LAP repayment period can be as long as 15 years, making it easier for borrowers to comfortably pay off their EMIs.
6. Easy Repayment & Longer Tenure:
Get flexible repayment options and a longer loan duration with OneNDF Loans, making it easier for you to manage your finances.
Also Read: Benefits of Loan Against Property
Loan Against Property EMI Calculator
Eligibility Criteria for Loan Against Property
To avail of a Loan Against Property in Ghaziabad, the borrower must fulfil the following eligibility criteria:
| Particulars | Requirement |
| Citizenship | The applicant must hold an Indian citizenship. |
| Age | The borrower must be at least 25 years old, and the maximum age must not be more than 75 years old at the time of loan maturity. |
| Nature of work for salaried applicants | Salaried Employee of an MNC, public sector or private sector with stable income |
| Business Vintage for self- applicant | The business must be at least 3 years old if applicable |
| Credit Score | Both the promoter and the business must have a good credit score of more than 700. The credit score of co-applicants is also checked wherever applicable. The credit score has a crucial role to play in determining the creditworthiness of the borrower. It determines the limit of the lender’s credit exposure based on the repayment history of the business. |
The documents required for a Loan Against Property in Ghaziabad may vary. However, the following documents are usually sought by banks and NBFCs for a Loan Against Property in Ghaziabad:
- Application form with a recent photograph
- Passport copy, voter ID card, driver’s license, PAN card or any other proof of identity.
- Address proof as such passport, utility bills, driving license etc.
- Age proof as such bank statement, bank passbook, or other certificate from a statutory authority.
- Bank statement of last 6 months or last 6 months’ salary slips.
- Form 16
- Income tax returns of last 3 years
- Processing fee cheque
Additional documents for self-employed and SMEs for Loan Against Property
- For self-employed: CA attested income statements and other financials of past 2 years.
- For SMEs: last 2 years financial audited.
Also Read: Detailed List of documents required for loan against property
Interest rates on Loan Against Property in Ghaziabad
The interest rates on a Loan Against Property in Ghaziabad can vary from lender to lender. However, here is an overview of the interest rates and charges on various types of Loan Against Property in Ghaziabad:
| Fees & Charges | Amount Chargeable |
| Interest Rate | Starting from 9.10% P.A. |
| Loan Amount | Starting 30 Lacs and upto 100 Cr |
| Loan Processing Charges | Minimum Processing fee is 1%+ GST |
| Foreclosure Charges | Pre-Payment is not allowed within 12 months of loan sanction After 12 months, pre-payment charges will be applicable as described in the sanction letter |
How to apply for a Loan Against Property in Ghaziabad through OneNDF
The process of applying for a Loan Against Property in Ghaziabad may differ based on the type of Loan Against Property availed.
OneNDF streamlines this process by allowing individuals to apply for Loan Against Property online and match with lenders according to their unique Loan Against Property requirements:
- Open the official website of OneNDF and SIGN UP.
- You can register by entering your mobile number and clicking on ‘Next’.
- You would receive an OTP, through which you can authenticate your identity.
- Once authenticated with OTP, you can upload your documents and apply for a Loan Against Property at attractive interest rates as per your requirements.
- Once the loan application form is submitted, the platform connects you with the best lender available as per your requirements. It helps you get a Loan Against Property at a competitive interest rate.
FAQs
Q.1 Are there any limitations on the location of the property that can be used as collateral in Ghaziabad?
Certain lenders may specify particular cities for the property’s location. It’s advisable to verify this information directly with each lender for accurate details.
Q.2 Is property insurance a requirement?
Typically, lenders mandate insurance coverage for the property, safeguarding it from fire and other risks throughout the loan tenure. This precaution ensures the preservation of the pledged security’s value in the event of a natural disaster.
Q.3 What are the repercussions of failing to meet the obligations of a loan against property?
Delaying or missing EMI payments, be it for a property, auto, or personal loan, is detrimental. It can harm your credit score, limit future credit access, and prompt legal actions, including property recall and sale by the lender.
Q.4 Is the interest paid on the Loan Against Property tax-deductible in Ghaziabad?
Tax deductions for Loan Against Property (LAP) hinge on the property’s purpose and type. Business use allows interest deduction under Section 37(1). Residential and self-occupied properties permit up to INR 2 lakh interest deduction, while rented properties may qualify for the complete interest amount deduction. Seeking personalised advice from a tax professional is crucial.
Q.5 Which documents are necessary for applying for a Loan Against Property in Ghaziabad?
Typically, you are required to furnish an application form, proof of identity, address verification, age confirmation, bank statements, and income tax returns. Self-employed individuals or SMEs might be asked for additional documentation.
