Bandhan Bank Loan Against Property

Loan Against Property 1490 views

About Bandhan Bank Loan Against Property

Loan against property is one such loan where you can use your commercial or residential property and get your unforeseen needs fulfilled. Bandhan Bank mortgage loan is customer-friendly with minimum documentation and quick loan approval.

Loan Against Property

    Personal Details


     

    If a person is in need of money, taking a loan is the first thing that comes to his/her mind. Whether it is for clearing off old debts, buying a new car, starting a new business, child’s marriage or any other need, a loan can help you get out of it all. The loan against property of Bandhan Bank is available at low-interest rates and processing fee of only 1% of the loan amount.

    Bandhan Bank Loan Against Property Details

    How to Apply

    The procedure to apply online for Bandhan Bank loan against property is very simple. The individual has to have all the documents as per the eligibility along with the filled application form and submit it to the  nearest bank branch.

    Bandhan Bank Loan EMI Calculator

    EMI calculator is the tool that lets you know the monthly installments for the tenure of your loan. In this calculator, you have to mention the interest rate, tenure period and the loan amount. The amortization table will show the total interest and total balance for the last year of your tenure.

    Let us take an example that you are taking a loan of ₹15,00,000/- against your commercial or residential property at the interest rate of 12.5% per annum for the tenure period of 15 years. The EMI for the last month of the tenure period according to the EMI calculator is ₹18,488/-. For the detailed information, you can go through the table here:

    Table for EMI per month, Total Interest Outgo and Total Amount

    Amount (in ₹)Interest Rate (p.a)Loan Tenure (in years)EMI (in ₹)Total Interest Outgo (in ₹)Total Amount (Principal + Interest) (in ₹)
    15,00,00012.5%11,33,6241,03,49216,03,492
    15,00,00012.5%270,9612,03,06317,03,063
    15,00,00012.5%350,1803,06,49618,06,496
    15,00,00012.5%439,8704,13,76019,13,760
    15,00,00012.5%533,7475,24,81420,24,814
    15,00,00012.5%629,7176,39,60721,39,607
    15,00,00012.5%726,8827,58,07622,58,076
    15,00,00012.5%824,7938,80,14823,80,148
    15,00,00012.5%923,20110,05,74325,05,743
    15,00,00012.5%1021,95611,34,77126,34,771
    15,00,00012.5%1120,96312,67,13527,67,135
    15,00,00012.5%1220,15814,02,73229,02,732
    15,00,00012.5%1319,49615,41,45330,41,453
    15,00,00012.5%1418,94816,83,18431,83,184
    15,00,00012.5%1518,48818,27,81033,27,810
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    Amortization Table

    YearPrincipal (in ₹)Interest (in ₹)Balance Amount (in ₹)
    136,3941,85,46214,63,606
    241,2131,80,64314,22,393
    346,6711,75,18513,75,722
    452,8531,69,00313,22,869
    559,8481,62,00812,63,021
    667,7751,54,08111,95,246
    776,7501,45,10611,18,496
    886,9121,34,94410,31,584
    998,4201,23,4369,33,164
    101,11,4531,10,4038,21,711
    111,26,21195,6456,95,500
    121,42,92278,9345,52,578
    131,61,84960,0073,90,729
    141,83,28038,5762,07,449
    152,07,63914,309

    Eligibility Criteria

    The eligibility for loan against property from Bandhan Bank are as follows:

    • Salaried Individual
    • Self-employed Professionals
    • Self-employed Non-Professionals
    • Minimum age of 23 years
    • Maximum age of 65 years or retirement age

    Documents Required for Bandhan Bank Mortgage Loan

    The documents that you must have if you are planning to get mortgage loan from Bandhan Bank are as follows:

    • Identity Proof (Voter ID/PAN Card/Adhaar Card/Driving License, etc.)
    • Address Proof (Voter ID Card/Adhaar Proof/Driving License/Ration Card, etc.)
    • Income Documents
    • Last 6 months bank statements
    • Repayment Track of existing loans, if any
    • Property details

    Bandhan Bank Loan Application Form

    The details that are mandatory to be filled in the application form are as follows:

    • Name of the applicant/s
    • Address proof
    • Birth certificate
    • Income proof
    • Business proof
    • Purpose of loan
    • Processing fee
    • Repayment mode
    • Tenure period

    Bandhan Bank Loan Against property Interest Rate

    The interest rates applicable on loan against property depends on the loan borrower and his/her profile. The interest rates are fixed as well as floating as per the bank’s policies.

    Bandhan Bank Mortgage Loan Processing Fee

    The processing fee on loan against property or mortgage loan is 1% of the loan amount.

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    Features & Benefits

    Some of the main advantages of taking Bandhan Bank mortgage loan are:

    • Low processing fees
    • Interest rates as per the individual
    • Loan amount depending upon the eligibility criteria
    • High tenure period
    • Easy loan approval
    • Minimum documentation

    Bandhan Bank Customer Care

    For any query related to any kind of loan, you can call on the toll-free number: 1800 258 8181