All About Syndicate Bank Loan Against Property
The expenses in the family are ever increasing, and syndicate bank loan against property has helped many meet such expenses. The hassle free loan scheme from syndicate bank is known as ‘syndmortgage’. This loan can be availed for variety of family or business needs like education, vacation, renovation, wedding, etc. Syndicate bank loan against property is a unique general purpose loan that allows fulfilling all your dreams.
People Usually Go Ahead For This Loan For The Following Reasons.
- It Is Cheaper To Personal Loan
- It Usually Has A Longer Tenure Which Makes It Affordable For People
- The Documentation And Approval Process Is Much Faster
Syndicate bank loan against property reviews shows that the competitive Syndicate Bank loan against property interest rate is the reason for many businesses opting for syndicate bank loan against property.
Syndicate Bank Loan Against Property rate is 15.75% p.a linked to base rate that is subject to change. Any changes are specified from time to time and applicable. More details about syndicate bank loan against property rate can be found from the nearest branch.
Eligibility: Syndicate Bank Loan Against Property
- Bonafide Owners Of Residential Or Commercial Property In Their Names Can Apply For Syndicate Bank Loan Against Property Rate.
- Purchasers Of House Plots Approved By Housing Boards Or Development Authorities Of Towns, Cities And Metros.
- A Customer Availing Syndicate Bank Loan Against Property Rate Should Not Be More Than 55 Years Old At The Time Of Sanction.
- Whosoever Is Able To Meet The Syndicate Bank Loan Against Property Eligibility Criteria Is Eligible For Syndicate Bank Loan Against Property.
- Application Form
- Proof Of Identity
- Proof Of Address
- Two Photographs
Other Required Documents For Syndicate Bank Loan Against Property Are:
- Financial Statements Profit And Loss Account, Balance Sheet
- Its For Last 3 Years, Property Documents (Title Deed, Tax Receipts, Possession Certificate) etc.
Syndicate bank loan against property reviews shows that documents required are specific to purpose of loan and additional details for documents required are available in the branch. Syndicate bank loan against property reviews shows that Syndicate bank loan against property interest rate can be availed for maximum loan tenure of 7 years. The loan can be repaid in easy equated monthly installments through post dated cheques, online emi payment or direct debit from bank account. The loan can be processed in 7 working days once the documents have been submitted.
Prepayment and Late Fee Charges :
If the loan is paid back before the tenure it is known as prepayment. Syndicate bank prepayment and late payment charges can be checked at the nearest branch. Service tax and other taxes are applicable as per the rate prevailing in the market. The maximum and minimum loan amount will depend according to the value of the property as decided by the bank.