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India shelter housing finance loan against property
India Shelter Finance Corporation aims to empower middle-income households with credit to acquire new homes, to extend and improve their current homes.
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India shelter housing finance loan against property
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India shelter housing finance loan against propertyHere are a few factors
| Location | 40 km from Branch |
| CIBIL Score | 500+ |
| Applicant | Salaried & Self Employed Both |
| Applicant Age | Salaried-21 Year to 60 Year, Self Employed-21 Year to 65 Year |
| Loan Amount & Tenure | 5
Lac to 50 Lac (5 Year to 15 Year) |
| Login Fees | 2500 |
| Rate of Interest & Type | 14% to 20% (Reducing) |
| TAT | 15 Days |
| Processing Fees | 1.50% to 3% |
| Foreclosure Charges | Upto 4% |
| Insurance | Insurance Charges:2%-4% |
| Minimum Business Vintage | 2 Year |
| Lock In Period | 12 Month |
| Part Payment Allowed | Yes |
| LTV | (i) Residential-65% (ii) Commercial-60% |
| Product | 1. Fresh Loan 2. BT+Topup |
| Program | (i)
LIP Program-50 Lac (ii) Low LTV Program-50 Lac (iii) Banking Program-50 Lac (iv) Income Program-50 Lac (v) Without ITR-20 Lac |
| FOIR | (i) If Salary<30K-50% of Net Salary, If Salary>30K-60-70% (ii) Self Employed-60% on Income |
| Cautious Profile | (i) Person living in dominated area |
| Negative Profile | (i) Politician (ii) NRI |
| Funded Property | (i)
Residential Property (ii) Commercial Property (iii) Current Sale Deed (iv)
Khasra Khatauni (v) Multi Tanented Unit-Upto 7 Tanent(vi) Lal Dora (vii) Stone Slab Property (viii) Sub-divided Property (ix) Gram Panchayat Property (x) Legal & Technical not Clear (xi) Stand alone Basement (xii) Bachha Flat |
| Negative Property | (i)
Hotal & Restaurant (ii) School (iii) Hospital & Nursing Home (iv)
Plot (v) Industrial Property (v) GPA Property (vi) Leasehold Property without PTM |
| Accepted Collateral | Other than Negative |
| Specific Property wise Funding Limit | On All specific Property upto 50 Lac |
| Any Specific Product for Professionals | No |
| USP | Funding on Low CIBIL Score |
India shelter housing finance loan against property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 14 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,979 |
| Total Interest | ₹ 7,745 |
| Loan Amount + Interest | ₹ 107,745 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,711 | ₹ 3,226 | ₹ 26,937 | ₹ 76,289 | 23.71 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,291 | ₹ 4,520 | ₹ 80,811 | ₹ 0 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for India Shelter Housing Finance Loan Against Property
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About India Shelter Housing Finance Loan Against Property
Facing unplanned costs is more difficult than normal when we run out of money while having a reliable source of income. India Shelter Finance's loan against property is one of the greatest lending schemes available. Loan approval takes place within seven days, at a time when receiving immediate money is difficult.
The housing financing firm offers loans secured by real estate for up to Rs. 10 lakh with a 12-year term and an interest rate of 20%. In addition, there is a 4% processing fee associated with this. Applying for a loan secured by the property at India Shelter Finance Corporation Ltd. is a quick and straightforward process.
Factors affecting India Shelter Housing Finance Loan Against Property Interest Rates
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The first and most important factor is the loan amount that you apply for. The minimum loan you get from India Shelter is Rs. 5 Lakhs.
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Your monthly income, the higher your monthly income will be higher will be your repaying capacity, and this helps in increasing the eligibility for getting higher loan amounts.
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The type of loan you apply for because India Shelter has floating interest rates for its different types of loans.
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The type of property against which you are applying loan for. Interest rates are lower for industrial or commercial properties.
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Your profession is also essential because India Shelter has lower interest rates for self-employed individuals than salaried employees.
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
Yes, loan conversions on floating interest rates are allowed, and the charges for that are either Rs. 5000 or 0.5% of the outstanding loan amount.
if your spouse or any other family member earns well, you can make them the co-applicant in your loan.
Yes, loan transfers are allowed.
No, there are no charges for prepayment of the loans.
Yes, a late payment charge of 36% p.a. Is applicable on the delayed EMI amount of the India Shelter Housing Finance Loan Against Property.
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