| 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% |
Pune transcends being merely a city; it embodies a distinctive essence that intertwines with one’s identity. From charming tea stalls offering delightful chai to the serene ambiance of the Osho Ashram, Pune embraces diversity, greeting all with a soul-warming ‘Kas kay?’
Its history, witnessing the ebb and flow of empires, blends with classical melodies and the alluring scent of authentic Maharashtrian cuisine. Pune’s robust economy spans IT, manufacturing, education, and diverse services, underlining its vital role in India’s economic landscape.
Economy of Pune
Pune, nicknamed the “Oxford of the East,” is a dynamic city renowned for its stellar educational institutions. Emerging as a hub for industries, technology, and services, it stands as a prominent IT center in India, attracting global giants and startups alike. The flourishing manufacturing sector fuels job creation and industrial development.
Pune’s real estate and infrastructure experience notable growth, bolstered by the expanding Pune Metro and modern projects. Boasting a startup-friendly environment, Pune thrives as a vibrant entrepreneurial and innovative hub with diverse industry.
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 Pune, 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 Pune may vary. However, the following documents are usually sought by banks and NBFCs for a Loan Against Property in Pune:
- 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 Pune 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 Pune::
| 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 Pune through OneNDF
The process of applying for a Loan Against Property in Pune 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
How do I choose the right lender for a Loan Against Property in Pune?
Consider factors like interest rates, processing fees, tenure, and foreclosure charges. Compare offerings from various banks and NBFCs to find the most suitable option based on your financial needs and preferences.
What are the tenure and processing fees for a Loan Against Property in Pune?
The loan tenure for a Loan Against Property in Pune extends up to 20 years, subject to the specific policies of each lender. Processing fees typically vary between 0.50% and 1% of the loan amount. Foreclosure charges are applicable only after the initial 12 months from the loan sanction, offering borrowers flexibility in early repayment.
What are the interest rates on a Loan Against Property in Pune?
Interest rates vary among lenders. Presently, HDFC Bank starts at 9.40%, ICICI Bank at 9.40%, Kotak Mahindra Bank at 9.40%, and others have their respective rates, providing borrowers with diverse options.
What paperwork is needed to apply for a OneNdf loan against property in Pune?
The standard documents include an application form with a photograph, proof of identity, address proof, age proof, bank statements or salary slips for the last 6 months, Form 16, income tax returns of the last 3 years, and a processing fee cheque. Self-employed and SMEs may need additional documents such as CA attested income statements and financials.
What is the eligibility criteria for a Loan Against Property in Pune?
To be eligible for a Loan Against Property in Pune, you should be an Indian citizen, aged between 25 and 75 years at the time of loan maturity. For salaried applicants, stable income from an MNC, public, or private sector is required. Self-employed applicants need a business vintage of at least 3 years, and both the promoter and the business must have a good credit score of over 700.
