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Piramal Bank Loan Against Property
Piramal Finance provides a Loan Against Property option for businesses to mortgage their properties (residential, commercial, or industrial) and address financial emergencies. The loan amount can be up to INR 2 crore with competitive interest rates, and eligibility depends on the applicant's employment status. Piramal Finance offers quick sanctions, higher eligibility, and maximum loan amounts. This loan product has no restrictions on how the borrowed amount can be used, making it a popular choice among business executives. Additionally, Piramal Finance also offers a Working Capital Secured Business Loan and a Secured Business Loan as other loan options for businesses.
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Piramal Bank Loan Against Property
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Piramal Bank Loan Against PropertyHere are a few factors
| Location | 70 Km from Branch |
| CIBIL Score | 650+ |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 25 Year- 60 Year (Salaried), 70 year (Self Employed) |
| Loan Amount & Tenure | 10
Lac to 4 Cr (5 year to 15 year) |
| Login Fees | 2359 |
| Rate of Interest & Type | 11.50% to 13.50% (Reducing) |
| TAT | 15 Days |
| Processing Fees | Physical |
| Foreclosure Charges | 2%-4% |
| Insurance | 1%-4% |
| Minimum Business Vintage | 3 Year |
| Lock In Period | 12 Month |
| Part Payment Allowed | Yes |
| LTV | Residential Property-70%, COmmercial-60%, Industrial-40% |
| Product | BT+Top Up, Fresh LAP, LRD |
| Program | Low LTV-1 Cr (50% of Property Value), Banking Surrogate-2.50 Cr ,GST Program-4 Cr, Cash Rental-50 Lac |
| FOIR | 70% of Salary, If applicant is receiving Cash Salary then Maximum 50K will be considered |
| Cautious Profile | Police |
| Negative Profile | Share Trading, Madarsa, Slaughter House, Politician |
| Funded Property | (i)
Residential (ii) Commercial (iii) Industrial (iv) Plot (v) Hotel & Restaurant (vi) School in individual name |
| Negative Property | 4th Floor an daove, Upapporved Freehold Property where any authority belongs |
| Accepted Collateral | Funding to all Property except Negative Property |
| Minimum Job Experience for Salaried Person | 2 Year |
| Experience with Current Employer | 3 month |
| Any Specific Product for Professionals | No |
| USP | 1.
Funding in Dominated area 2. LAP to Cash Salaried person 3. Lal Dora Funding upto 1 Cr |
| Additional | Funding to Gram Panchayat Property, Lal Dora, Sub-divided Property,Khasra Khatauni
Plot, Khasta Khatauni Purchase, Without MAP, Current Sale Deed, Khasra to direct registry, GPA subject to sale deed, PG Property, Multi Tanented Unit-up to 25 tenant |
Piramal Bank Loan Against Property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 11 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,838 |
| Total Interest | ₹ 6,058 |
| Loan Amount + Interest | ₹ 106,058 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 23,982 | ₹ 2,532 | ₹ 26,514 | ₹ 76,018 | 23.98 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 76,015 | ₹ 3,527 | ₹ 79,542 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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.
Required Documents to Apply for Piramal Bank 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
Note : Piramal Bank Loan Against Property may ask for additional documents based on the applicant’s profile. The above list is for reference purposes only.
FREQUENTLY ASKED QUESTIONS
A Loan Against Property
(LAP) is a type of secured loan that allows individuals to borrow money by
mortgaging their residential, commercial, or industrial property.
At Piramal Finance,
individuals can get a loan against their property for up to ₹2 Crores. However,
the actual loan amount depends on several factors such as the value of the
property, income, and credit score.
A loan against property
can be used for any purpose, be it for personal or business needs. It can be
used to fund education, marriage expenses, medical bills, home renovation, or
to expand a business.
Residential, commercial,
or industrial properties can be mortgaged for a loan against property. However,
the property must be in the individual's name, and the ownership should be
clear and marketable.
The eligibility criteria
for a loan against property mainly depend on the individual's employment status
and income. However, the individual must be at least 21 years old and a citizen
of India.
To apply for a loan
against property, individuals need to submit KYC documents, proof of identity
and address, income documents, proof of income, and passport size photographs.
The interest rate for a
loan against property at Piramal Finance starts at 11.5% per annum, depending
on various factors such as the loan amount, tenure, and creditworthiness.
At Piramal Finance,
individuals can repay the loan against property over a tenure of up to 15
years.
Piramal Finance offers
quick sanctions and smooth processes for a loan against property, and individuals
can get the loan amount disbursed within a few days of approval, subject to
completion of documentation and verification.
Yes, individuals can
apply for a loan against property online through Piramal Finance's website.
They can also use the eligibility and EMI calculators to know their loan
eligibility and monthly instalments.
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