Loan Against Property

# Nivara Housing Finance Loan Against Property

Last Updated : June 8, 2017, 4:22 p.m.

In life, we all have gone through our tough times when things were really out of our control. But, the time has gone when we had no option to come out of that phase. Nivara Housing Finance is here to provide loan against property to all owners of the property to be compulsorily co-applicants/borrowers, but no minor can be the borrower of this loan. Other than this, if the applicant is married and wants to get the loan from Nivara housing finance, the spouse has to be a mandatory co-applicant.

## Nivara Housing Finance Loan Against Property Details

Particulars Details
Interest Rate Fixed – 22% per annum
Floating – 21% per annum
Loan Amount Rs. 35,00,000/-
Tenure Up to 15 years
Processing Fees 3% + Service Tax
Prepayment Charges NIL
LTV (Loan-To-Value) ratio Up to 60%
Repayment Mode EMIs to be paid on monthly basis

How to Apply

The borrower/s has to submit all the documents as mentioned above as per the eligibility along with the filled application form.

### Loan Against Property EMI Calculator

EMI calculator is a tool that lets you know the total interest outgo, total amount and all the EMIs for the chosen loan amount. Here is one example for you:

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

Amount (in Rs.) Interest Rate (p.a) Loan Tenure (in years) EMI (in Rs.) Total Interest Outgo (in Rs.) Total Amount (Principal + Interest) (in Rs.)
35,00,000 21%-22% 1 3,25,898-3,27,580 4,10,778-4,30,964 39,10,778-39,30,964
35,00,000 21%-22% 2 1,79,850-1,81,574 8,16,395-8,57,765 43,16,395-43,57,765
35,00,000 21%-22% 3 1,31,863-1,33,667 12,47,058-13,11,997 47,47,058-48,11,997
35,00,000 21%-22% 4 1,08,380-1,10,271 17,02,237-17,93,021 52,02,237-52,93,021
35,00,000 21%-22% 5 94,687-96,666 21,81,206-22,99,972 56,81,206-57,99,972
35,00,000 21%-22% 6 85,876-87,941 26,83,071-28,31,784 61,83,071-63,31,784
35,00,000 21%-22% 7 79,843-81,991 32,06,795-33,87,228 67,06,795-68,87,228
35,00,000 21%-22% 8 75,534-77,760 37,51,219-39,64,939 72,51,219-74,64,939
35,00,000 21%-22% 9 72,362-74,662 43,15,100-45,63,459 78,15,100-80,63,459
35,00,000 21%-22% 10 69,976-72,344 48,97,130-51,81,269 83,97,130-86,81,269
35,00,000 21%-22% 11 68,151-70,582 54,95,972-58,16,824 89,95,972-93,16,824
35,00,000 21%-22% 12 66,738-69,226 61,10,278-64,68,583 96,10,278-99,68,583
35,00,000 21%-22% 13 65,633-68,173 67,38,717-71,35,036 1,02,38,717-1,06,35,036
35,00,000 21%-22% 14 64,762-67,350 73,79,992-78,14,725 1,08,79,992-1,13,14,725
35,00,000 21%-22% 15 64,071-66,701 80,32,857-85,06,263 1,15,32,857-1,20,06,263

Amortization Table

Year Principal (in Rs.) Interest (in Rs.) Balance Amount (in Rs.)
1 33,672-37,308 7,31,544-7,66,740 34,62,692-34,66,328
2 41,876-45,943 7,22,909-7,58,536 34,16,749-34,24,452
3 52,076-56,575 7,12,277-7,48,336 33,60,174-33,72,376
4 64,761-69,668 6,99,184-7,35,651 32,90,506-33,07,615
5 80,538-85,793 6,83,059-7,19,874 32,04,713-32,27,077
6 1,00,157-1,05,649 6,63,203-7,00,255 30,99,064-31,26,920
7 1,24,556-1,30,102 6,38,750-6,75,856 29,68,962-30,02,364
8 1,54,895-1,60,210 6,08,642-6,45,517 28,08,752-28,47,469
9 1,92,627-1,97,291 5,71,561-6,07,785 26,11,461-26,54,842
10 2,39,551-2,42,951 5,25,901-5,60,861 23,68,510-24,15,291
11 2,97,906-2,99,181 4,69,671-5,02,506 20,69,329-21,17,385
12 3,68,421-3,70,473 4,00,431-4,29,939 17,00,908-17,46,912
13 4,53,688-4,60,721 3,15,164-3,39,691 12,47,220-12,86,191
14 5,58,690-5,72,947 2,10,162-2,27,465 6,88,530-7,13,244
15 6,89,641-7,14,458 80,858 87,894 0

### Eligibility Criteria

#### For Salaried

• Minimum age of 21 years at the time of loan application for borrowers where income considered
• Maximum age of 60 years at the time of loan maturity
• 2 Years of job experience with current Job stability of 12 months

#### For Self-employed

• Minimum age of 21 years at the time of loan application for borrowers where income considered
• Maximum age of 65 years at the time of loan maturity
• 2 Years of experience in business

### Documents Required for LAP

Nature of Document Proof of Document
Name & Age Proof Passport
PAN Card
Election ID
Voter ID
Photo ID Proof Passport
PAN Card
Voter ID
Address Proof of Residence Ration Card
Electricity Bill
Telephone Bill
Municipality tax receipt
Property tax receipt
Bank passbook/Latest bank account
Property Tax Bills in the name of individual/firm
VAT Registration
Income Proof for Salaried Individuals Latest Salary Slips
Last 6 months bank statement
For 16/IT Returns
Income Proof for Self-employed/Business Category Income Tax Returns for Self and/or business entity for last 2 years
Last 6 months bank statement
Last 6 months current account statement
Balance Sheet and Profit & Loss A/c Statements, with Annexures / Schedules for last 2 years for the firm
Any other income proof as indicated by Nivara

Features & Benefits

• Loan from Rs. 3,00,000 to Rs. 35,00,000
• Tenure Period of up to 15 years
• Loan up to 60%
• Multi-purpose loan for personal needs like marriage, education, travelling, etc.
• Processing fee of 3% of the loan amount
• Interest rate ranging from 21% to 22% per annum
• Applicants from 21 years to 65 years
• Loan to salaried as well as self-employed

### Nivara Housing Finance Loan Against Property Interest Rate

The housing finance limited, Nivara, offers loan against property at floating as well as fixed rate of interest. The floating and fixed rate of interest is 21% per annum and 22% per annum respectively.

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