Mortgage Loan
ALBION INDIA NIDHI LIMITED Property Loan
Make your dream come true
Let your property be a shelter to your dreams. ALBION INDIA NIDHI LIMITED’s Loan Against Property is a multi- purpose loan that can be used for your business or personal needs. Anyone who is the member OF ALBION INDIA NIDHI LIMITED and owns Residential/Commercial property can apply for LAP.
Salient Features
- Loan against fully constructed, freehold residential and commercial properties.
- Purpose: For meeting personal needs like, acquiring asset, education needs, marriage, personal travel, etc against the mortgage of residential property/ plot acceptable to us.
- Min and Max Loan Size: Every Member can avail loan from Rs. 1,000 to a maximum of Rs. 7.5 Lakhs.
- Tenure: Loan tenure of upto 5 years
- Interest rates are levied on a daily reducing balance method.
- Lowest processing charges.
- Quick Processing with Easy and hassle-free documentation.
- Simple repayments through monthly instalments.
- No prepayment penalties. You can have surplus funds at any time thereby conveniently reducing your loan liability and interest burden.
Eligibility Criteria for Loan Against Property
- Property Value
- Repayment Capacity
- Assets
- Liabilities
- Age
- Legal & Technical Clearance of Property Title
Interest Rates
| Loan Slab | Interest Rates (% p.a.) |
|---|---|
| Residential Properties | 12 to 18 |
| Commercial Properties | 14 to 20 |
The above criteria are subject to change from time to time at the sole discretion OF ALBION INDIA NIDHI LIMITED.
Terms and Conditions
- Security of the loan is a first mortgage of property against which the loan is being advanced and / or any other collateral / interim security as may be required by ALBION INDIA NIDHI LIMITED.
- Loan under LAP should be liquidated before eldest borrower attains the age of 60 years.
- For detailed information about ALBION INDIA NIDHI LIMITED’s products and services kindly visit the nearest ALBION INDIA NIDHI LIMITED.