About Piramal Housing Finance Loan Against Property
A loan against property is different from a housing loan. The former is taken against owned property but the other one is taken to purchase a new house or property. Piramal Housing Finance gives both housing loan and loan against property.
In the times when you are looking for large funds, your property is the biggest asset. You can use this asset to get loan against it and reduce your finance-related. Piramal Housing Finance loan against property does the same thing but in quite a unique way. The interest rates are kept low as compared to top lenders. It helps people get an affordable EMI. To know more about this product, read this article.
Piramal Housing Finance Loan Against Property Interest Rates
The below given table shows interest rates, maximum loan amount and tenure for Piramal Housing Finance loan against property.
|Interest Rates||10.50% Onwards|
|Tenure||Up to 20 years|
|Loan Amount||Up to Rs. 10 crores|
Piramal Housing Finance Loan Against Property Features
- Loans are given against both residential as well as commercial properties.
- Purchase of Resale property
- Loan up to 75% of the current market value of your property ranging between Rs. 10 Lakhs to 10 Crores.
- Maximum tenure available is 20 years.
- The loan can be applied individually or jointly.
- Income from immediate family members can be clubbed.
- Interest Rates starting from 10% per annum.
How can you apply for Piramal Housing Finance Loan Against Property?
The online procedure to apply for Piramal Housing Finance loan against property is quite simple. You can either visit the official website and fill up the form. The details required in the form are as follows:
- Your full name
- Email ID
- Mobile Number
- Type of loan
The executives from Piramal Housing Finance loan against property will contact you on the basis of the details filled. You can also apply online for the loan through Wishfin. This is an online platform which guides you in finding the most suitable option. You will get proper guidance and the whole process is smooth and hassle-free.
Piramal Housing Finance Loan Against Property EMI Calculator
You can use a loan calculator to check how much EMI will you be paying if you get approval for Piramal Housing Finance loan against property. You have to mention interest rate, tenure and loan amount in the calculator and it will show you the response within seconds. You can then proceed your application with confidence.
Piramal Housing Finance Loan Against Property Eligibility Criteria
- Salaried and Self Employed Individuals.
- Proprietorship Firms
- Private Limited Companies / Closely held limited Companies
- Partnership firms / LLPs
- Income of close family members ( Spouse / Parent / Children ) can be clubbed.
- Incomes of siblings can be clubbed, subject to conditions, if they are co-owners in property.
Piramal Housing Finance Home Loan Documents Required
The documentation process is the most important step for home loan approval. If you do not submit complete authenticated documents, your application may be rejected. So, to avoid such scenarios, make sure you have all the documents as mentioned below:
- ID Proof – Passport/ PAN/ Aadhar Card/ Driving License/ Voter ID Card
- Residence Proof – Passport/ Ration Card/ Aadhar Card/ Driving License/ Voter ID Card
- Age Proof – Passport/ Ration Card/ Driving License/ Birth Certificate (issued by Government body)/ School leaving certificate (10th)
- Employment Proof – Salaried customer – ID card with date of Joining / appointment letter. Self Employed Professional and Non professional – Shops and establishment certificate, Trade license certificate, SSI Registration Certificate, Sales Tax / VAT /GST, Registration certificate, and Self Employed Professionals- Proof of professional qualification is required along with the documents mentioned above
- Income Documents
- Payslip for last 3 months.
- Latest Form 16 or ITR
- Performance Appraisal letter / Bonus letter – as proof of bonus ( if applicable)
Self Employed customers with income proof:
- ITRs for last 2 years with computation of income, P&L, Balance sheet , Schedules and auditors report ( If applicable)
Financials should be audited if mandatory as per regulations or annual turnover is more than 2 Crores, else these need to be CA certified.
Piramal Housing Finance loan against property details have been given in this article. You can apply for it if you are in need.