| 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% |
Patna, the cultural hub of Bihar, seamlessly blends tradition and modernity along the banks of the Ganga. Patna Chowk buzzes with activity, where the enticing scent of litti-chokha fills the air amidst lively chatter. The Ganga breeze carries tales of Ashoka’s capital and the Magadh Empire’s remnants.
Nestled amidst fertile land and surrounded by the Ganga, Sone, and Poonpun rivers, agriculture thrives as the city’s economic backbone. Evolving beyond agriculture, Patna emerges as a dynamic service hub, ranking among India’s fastest-growing cities. With an anticipated growth rate of 3.72% annually, it solidifies its position in the global and Indian growth landscape.
Economy of Patna
For an extensive period, agriculture has been a cornerstone of Patna’s economy, benefitting from fertile plains that enable the cultivation of rice, wheat, pulses, and vegetables. Situated along the River Ganges, Patna’s strategic location has historically facilitated trade, evolving into a trading hub since ancient times.
Recent endeavours to promote industrialization have spurred growth in manufacturing, with sectors like textiles, leather, and food processing gaining prominence. These developments have not only diversified the city’s economic profile but also fostered job creation and regional advancement.
Features & Benefits of Loan Against Property
1. Mortgage loan amount:
You could get anywhere from INR 30 lakh to INR 100 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 Patna, 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. |
Documents Required to Apply for a Loan Against Property
The documents required for a Loan Against Property in Patna may vary. However, the following documents are usually sought by banks and NBFCs for a Loan Against Property in Patna:
- 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.
Interest rates on Loan Against Property
The interest rates on a Loan Against Property in Patna 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 Patna:
| 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 Patna through OneNDF
The process of applying for a Loan Against Property in Patna 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
Are processing fees refundable for Loan Against Property in Patna?
Processing fees for Loan Against Property (LAP) in Patna are non-refundable, adhering to industry standards. Once paid, these fees cover the administrative costs associated with loan processing and are non-recoverable.
Is there a difference in LAP interest rates for salaried and self-employed applicants?
Interest rates can fluctuate, so it’s crucial to verify with the lender to ensure accurate and up-to-date information tailored to your specific loan requirements and financial circumstances.
How does OneNDF ensure hassle-free documentation for LAP?
If you avail Loan against Property from OneNDF, you can experience a seamless loan application process as we assure convenient and hassle-free paperwork, ensuring a smooth and straightforward application for your financial needs.
What is the eligibility criteria for LAP in Patna?
To qualify for a Loan Against Property in Patna with OneNDF, applicants must be Indian citizens aged 25 to 75. Salaried individuals need a stable income, while self-employed applicants should demonstrate a minimum of three years in business.
What processing fees are charged for LAP in Patna?
Processing fees for Loan Against Property usually vary between 0.5% and 2%, constituting a non-refundable charge as per industry standards. It’s important to consider these fees when assessing the overall cost of the loan.
