Shubham Housing Finance Loan Against Property

Loan Against Property 322 views

Shubham Housing Finance loan against property can be taken for construction refinance, self-financed property, debt consolidation, travel, education, marriage or for any other personal needs. The loan is available at low-interest rates and processing fees.

We are living in a world where no matter how much you earn, there are some things that remain out of our reach. But with the facility to take a loan against property (residential or commercial), it becomes possible for us to get everything we desire. The housing finance company-Shubham Housing Finance Ltd is providing loan against residential or commercial to all the customers who feel the need of huge money and want to unleash the power of their property.

Shubham Housing Finance Loan Against Property Details

ParticularsDetails
Interest RateAs applicable at the time of signing the loan agreement
Loan AmountUp to Rs. 10 lakhs
TenureUp to 7 years
Processing FeesUp to 3% of the loan amount
Prepayment Charges

NIL

How to Get Loan Against Property

The process of applying for a loan against property at Shubham Housing Finance Ltd is as follows:

  • Fill up the loan application form
  • Keep documents (KYCs, Property Documents, Income Proof, etc.) ready
  • Submit all the documents along with the application form at the nearest branch

Loan Against Property EMI Calculator

Before applying for any loan, we obviously want to know how much the interest rate and processing fee are we going to pay for the loan amount. Other than this, the EMIs that we are supposed to pay for the loan are also a point of concern. For such details, EMI calculator is used.

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The EMI calculator is the tool which tells you the total interest amount, total principal amount, monthly EMIs and the amortization table where you can know the EMI for the last year of your tenure.

For eg., if you are taking a loan of Rs. 10,00,000/- from Shubham Housing Finance, the tenure period offered is 7 years and the interest rate is dependable upon the customer’s profile so let us assume it as 15% per annum. The EMI for the first month of the 7th year will be Rs. 19,297/-

Similarly, the different EMIs, total interest and the total amount will be as follows:

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.)
10,00,00015%190,25883,10010,83,100
10,00,00015%248,4871,63,68011,63,680
10,00,00015%334,6652,47,95212,47,952
10,00,00015%427,8313,35,87613,35,876
10,00,00015%523,7904,27,39614,27,396
10,00,00015%621,1455,22,44115,22,441
10,00,00015%719,2976,20,92716,20,927

Amortization Table

YearPrincipal (in Rs.)Interest Outgo (in Rs.)Balance Amount (in Rs.)
187,4121,44,1529,12,588
21,01,4631,30,1018,11,125
31,17,7741,13,7906,93,351
41,36,70994,8555,56,642
51,58,68472,8803,97,958
61,84,19447,3702,13,764
72,14,00217,762

Eligibility Criteria

To get loan against property, you must come under the below-listed criteria:

  • Minimum age of the applicant is 21 years
  • Maximum age of the applicant is 65 years

Documents Required

The documents that you need to have at the time of applying for the loan are as follows:

  • Filled Application Form
  • Identity Proof such as PAN Card, Voter ID Card, Passport
  • Address Proof such as Electricity Proof, Ration Card, Adhaar Card
  • Income Proof
  • Bank Passbook or bank statements
  • Property Documents
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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

Shubham Housing Finance Loan Interest Rates

The interest rates applicable on loan against property or mortgage loan from Shubham Housing Finance Ltd will be the rate as applicable at the time of signing the loan agreement.

Features & Benefits

  • Low-interest rates
  • Low processing fee
  • Longer tenure up to 7 years
  • Flexible payment options
  • Higher loan amount of up to Rs. 10 lakhs