Who We Are
Loan Against Property Overview
Ownership
The property remains in the borrower’s name. If repayment becomes difficult, the borrower has the option to sell the property and use the proceeds to close the loan, subject to applicable laws and procedures.
Re-finance
Refinancing may help eligible business owners access additional funds for business growth by using the same property as collateral, as per internal assessment and policies.
Partial Pre-closure
Loan Against Property permits partial repayment without penalties for eligible borrowers, helping reduce the interest burden or loan duration.
Processing
Processing is generally quicker compared to certain other secured loans, as the property is already available for evaluation.
Benefits & Features
Online account access
Borrowers can track loan details and access information through the Customer Portal using a User ID, registered mobile number, or email.
Eligibility & Documents
A Loan against Property eligibility with Nitstone Finserv includes the following scenarios:
- You are an Indian Resident
- You are at least 25 years of age when the loan is sanctioned
- You are a self-employed professional with a regular source of income
- The minimum loan amount is Rs. 60 Lakh for Mumbai and Delhi, Rs. 30 Lakh in other cities
Documents Required for Loan Against Property:
- Application form
- Director’s photograph
- Identity proof
- Address proof
- Signature proof
- Certificate of incorporation
- IT Returns & Balance Sheet & P/L Account statement for the last 2 years.
- Business continuity proof for 5 years.
- Bank account statements for the last 6 months.
- Partnership deed (in case of partnership).
- MOA/AOA
Ready to Apply
Apply NowHow to Apply
Step 1
Click on Apply to access our online form. Complete the details and submit the application.
Step 2
A Nitstone representative will review your application and contact you to discuss the next steps.
Step 3
Provide the required documents for verification.
Step 4
Loan processing will proceed according to standard verification and approval procedures. T&C*
Fees & Charges
| Types of fees | Charges applicable |
|---|---|
| Processing fees | Up to 2% of the loan amount |
| Loan statement charges | NIL |
| Interest and principle statement charges | NIL |
| PDC swap charges | NIL |
| EMI bounce charges | Rs.2500 for every bounce |
- Refer to Agreements and T&C
Foreclosure Charges
| Borrower Type: Interest Type | Time Period (Months) | Foreclosure charges |
|---|---|---|
| Individual: Floating rate | >1 | Nil |
| Non-individual: Floating rate & All borrowers: Fixed rate | >1 | 4% plus applicable taxes on amount paid |
- For Term Loan on Principal Outstanding
Part prepayment charges
| Borrower Type: Interest Type | Time Period (Months) | Part payment charges |
|---|---|---|
| Individual: Floating rate | >1 | Nil |
| Non-individual: Floating rate & All borrowers: Fixed rate | >1 | 2% plus applicable taxes on part payment amount paid |
- Part payment made should be more than 1 EMI