Godrej Housing Finance offers Loan Against Property starting from 9.75% p.a. onwards for loan amounts up to Rs 25 crore, with repayment periods of up to 25 years. The loan can be used for personal or business needs. Additionally, it provides 3 predefined EMI waivers in the first 3 years of the loan tenure: salaried customers can avail EMI break during tax season (March), self-employed applicants during the festival season (September), and practicing professionals during the holiday season (June).
| Godrej Housing Finance LAP Highlights | |
|---|---|
| Interest Rate | 9.75% p.a. onwards |
| Loan Amount | Up to Rs 25 crore |
| Processing Fees | Up to 3% of loan amount |
| Tenure | Up to 25 years |
| LTV Ratio | Up to 80% of property value |
| Type of Applicant | Interest Rates (p.a.) |
|---|---|
| Salaried | 9.75% onwards |
| Self-employed | 9.75% onwards |
Godrej Housing Finance sets different interest rates for Loan Against Property based only on the employment profile of its applicants. However, other lenders might also consider factors like credit score, loan amount, loan tenure, occupation profile, etc., when determining their Loan Against Property interest rates.
Also read: Best Loan Against Property Interest Rate
| Name of the Lender | Interest Rate (% p.a.) | |
|---|---|---|
| State Bank of India | 10.00 - 11.30 | Apply Now |
| Axis Bank | 10.50 - 10.95 | Apply Now |
| Bank of Baroda | 10.85 - 16.50 | Apply Now |
| ICICI Bank | 10.85 - 12.50 | Apply Now |
| Standard Chartered Bank | Starts from 9.25% | Apply Now |
| HSBC Bank | 9.75 - 14.00 | Apply Now |
| Union Bank of India | 10.45% - 13.10% p.a. | Apply Now |
| PNB Housing Finance | 9.25 - 15.00 | Apply Now |
| IDFC First Bank | 9.00 - 16.50 | Apply Now |
| HDFC Bank Limited | 9.50 - 11.00 | Apply Now |
| L&T Housing Finance | 9.50 onwards | Apply Now |
| LIC Housing Finance | 9.50 - 11.55 | Apply Now |
| Godrej Housing Finance | 9.75 onwards | Apply Now |
| Indiabulls Finance | 9.75% p.a. onwards | Apply Now |
| Tata Capital | 10.10 onwards | Apply Now |
| Bajaj Housing Finance | 9.75 - 18.00 | Apply Now |
| Punjab National Bank | 10.40 - 12.75 | Apply Now |
Your Profession:
Godrej Housing Finance may charge higher interest rates on a mortgage loan to a salaried person than to a self-employed professional or businessman. Self-employed professionals or businessmen are expected to use loan proceeds for productive purposes in their occupation or business, while salaried individuals may use them for personal purposes.
Your Net Monthly Income:
Your income helps determine your interest rate. Higher income indicates a higher repayment capacity, increasing your eligibility for a higher loan amount.
Loan Amount:
The property loan rates offered by Godrej Housing Finance depend on the loan amount you apply for.
Godrej Housing Finance offers different rates for various customer profiles and provides both fixed and floating rate schemes. Loan against property interest rates may vary for special loan products.
Loans against prime residential properties are typically easier to obtain and may come with lower interest rates compared to loans against commercial and industrial properties.
Also read: Best Loan Against Property EMI Calculator
| Particulars | Charges |
|---|---|
| Processing Fee | Up to 3% of loan amount |
| Conversion Charges | Up to 1.5% of loan amount |
| Bounce Charges | Rs 1,000 |
| Property documents copy | Rs 2,000 |
| Repricing Fee | 1% of outstanding principal |
| Penal charges | 2% per month |
| Prepayment charges and foreclosure charges | NIL |
| Loan cancellation charges | Up to 30 days- NIL Post that 1% of outstanding principal |
In addition to the above criteria, Godrej Housing Finance may also consider factors such as credit score, monthly income, employer’s profile, etc., while evaluating Loan Against Property eligibility.
Also read: Best Loan Against Property Eligibility
The detailed list of documents required for Loan Against Property by Godrej Housing Finance includes:
For Self-employed Individuals:
For Self-employed Professionals:
For Salaried Individuals:
Property Documents required for Salaried/Self-employed/Self-employed Professional (for resale homes) by Godrej Housing Finance include:
Also Read : Best Loan Against Property Documents Required
Godrej Housing Finance offers loan against property at a starting rate of 9.75%*, which is the lowest rate available.
If your spouse or family member has a good income, you can include them as a co-applicant for your loan. Combining both of your incomes can increase your eligibility to get the loan.
The eligibility criteria for Godrej Housing Finance property loan are determined by several factors: - Monthly income - Existing liabilities - CIBIL Score - Age of the applicant
With a loan against property, you have the flexibility to use the funds for various purposes, similar to a personal loan. Whether you need to renovate your home, start a business, cover medical expenses, or even go on a long vacation, you can use the loan to fulfill all your needs.