Nivara Housing Finance Loan Against Property

Loan Against Property 350 views

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 RateFixed – 22% per annum
Floating – 21% per annum
Loan AmountRs. 35,00,000/-
TenureUp to 15 years
Processing Fees3% + Service Tax
Prepayment ChargesNIL
LTV (Loan-To-Value) ratioUp to 60%
Repayment ModeEMIs 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

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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.)
35,00,00021%-22%13,25,898-3,27,5804,10,778-4,30,96439,10,778-39,30,964
35,00,00021%-22%21,79,850-1,81,5748,16,395-8,57,76543,16,395-43,57,765
35,00,00021%-22%31,31,863-1,33,66712,47,058-13,11,99747,47,058-48,11,997
35,00,00021%-22%41,08,380-1,10,27117,02,237-17,93,02152,02,237-52,93,021
35,00,00021%-22%594,687-96,66621,81,206-22,99,97256,81,206-57,99,972
35,00,00021%-22%685,876-87,94126,83,071-28,31,78461,83,071-63,31,784
35,00,00021%-22%779,843-81,99132,06,795-33,87,22867,06,795-68,87,228
35,00,00021%-22%875,534-77,76037,51,219-39,64,93972,51,219-74,64,939
35,00,00021%-22%972,362-74,66243,15,100-45,63,45978,15,100-80,63,459
35,00,00021%-22%1069,976-72,34448,97,130-51,81,26983,97,130-86,81,269
35,00,00021%-22%1168,151-70,58254,95,972-58,16,82489,95,972-93,16,824
35,00,00021%-22%1266,738-69,22661,10,278-64,68,58396,10,278-99,68,583
35,00,00021%-22%1365,633-68,17367,38,717-71,35,0361,02,38,717-1,06,35,036
35,00,00021%-22%1464,762-67,35073,79,992-78,14,7251,08,79,992-1,13,14,725
35,00,00021%-22%1564,071-66,70180,32,857-85,06,2631,15,32,857-1,20,06,263

Amortization Table

YearPrincipal (in Rs.)Interest (in Rs.)Balance Amount (in Rs.)
133,672-37,3087,31,544-7,66,74034,62,692-34,66,328
241,876-45,9437,22,909-7,58,53634,16,749-34,24,452
352,076-56,5757,12,277-7,48,33633,60,174-33,72,376
464,761-69,6686,99,184-7,35,65132,90,506-33,07,615
580,538-85,7936,83,059-7,19,87432,04,713-32,27,077
61,00,157-1,05,6496,63,203-7,00,25530,99,064-31,26,920
71,24,556-1,30,1026,38,750-6,75,85629,68,962-30,02,364
81,54,895-1,60,2106,08,642-6,45,51728,08,752-28,47,469
91,92,627-1,97,2915,71,561-6,07,78526,11,461-26,54,842
102,39,551-2,42,9515,25,901-5,60,86123,68,510-24,15,291
112,97,906-2,99,1814,69,671-5,02,50620,69,329-21,17,385
123,68,421-3,70,4734,00,431-4,29,93917,00,908-17,46,912
134,53,688-4,60,7213,15,164-3,39,69112,47,220-12,86,191
145,58,690-5,72,9472,10,162-2,27,4656,88,530-7,13,244
156,89,641-7,14,45880,858 87,894

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 DocumentProof of Document
Name & Age ProofPassport
PAN Card
Driving License
Election ID
Voter ID
Aadhaar Card
Photo ID ProofPassport
PAN Card
Driving License
Voter ID
Address Proof of ResidenceRation Card
Electricity Bill
Telephone Bill
Municipality tax receipt
Property tax receipt
Leave & License agreement
Bank passbook/Latest bank account
Aadhaar Card
Address Proof of BusinessCurrent Utility Bills
Property Tax Bills in the name of individual/firm
Shop & Establishment License
VAT Registration
Income Proof for Salaried IndividualsLatest Salary Slips
Last 6 months bank statement
For 16/IT Returns
Income Proof for Self-employed/Business CategoryIncome 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
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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.