Loan Against Property

 

Our Loans Against Property can help you through life’s biggest moments. Weddings, personal passions, educational fees or career changes - we’ve got you covered. Refinance any existing commercial or residential property at the best rates today.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Udyog Loan Against Property

 

Are you an MSME owner looking to scale your business operations? Take your business to new heights with Godrej Capital Udyog Loan Against Property. Our loan solutions enable business owners to get higher loan eligibility by allowing multiple sources of income to be considered. With quick loan approvals and attractive interest rates, our goal is to help your business achieve growth.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Lease Rental Discounting

 

Want to leverage your rental earnings to get a loan? We offer industry-best loan-to-value Lease Rental Discounting, allowing you to explore new business opportunities, fund personal expenses, or even pursue higher education. Unlock the value of your assets without selling them.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Commercial Property Loan

 

Take your business to the next level with a Commercial Property Loan that finances construction, extension or improvement to make your business goals become reality. With plans designed for your life, you can rest assured that your business empire is in safe hands.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Balance Transfer

 

Transfer your existing loans to Godrej Capital and experience the benefits of lower interest rates, flexible repayment terms, and significant EMI savings. Enjoy higher eligibility, along with a Top-Up loan, to take care of your extra needs.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Home Loan

 

Seeking a Home Loan to buy a ready-to-move-in property, an under-construction house, or renovate your current residence? Our Home Loan, featuring low interest rates and flexible EMI plans, is specifically designed to help you accomplish buying your dream home.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Plot Loan

 

Found the perfect spot to build your future? Our Plot Loans can help make it yours. Our loans offer you the financial help, low interest rates and flexible payment options you need to construct the home of your dreams.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Professional Loan for Doctors

 

Whether you need working capital to start your own clinic or upgrade your current practice with new facilities and hire skilled staff, our professional loans for doctors are here to help you.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Professional Loan for Doctors

 

Whether you need working capital to start your own clinic or upgrade your current practice with new facilities and hire skilled staff, our professional loans for doctors are here to help you.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Professional Loan for CAs

 

Want to scale your professional practice? We now offer professional loans for doctors and chartered accountants (CAs) to help you expand your existing set-up, hire more staff, buy modern equipment, and fulfil other business requirements to improve and develop your services.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Business Loan for MSMEs

 

If you're an entrepreneur with a small business or an MSME and are aspiring to take your venture to greater heights, you're in the right space! While you hustle for your company's success, we stand prepared to accompany you on this journey. Access unparalleled funding possibilities with our MSME-focused business loans, aligning seamlessly with your endeavors for business growth.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Business Loan for Women

 

Are you a woman entrepreneur with a vision for business growth? We are excited to fuel your ambitions with our women-centric business loans. Whether you're spearheading a small-scale business or a micro enterprise, our MSME-focused business loans are designed to meet your business needs.

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

Business Loan

 

We give you the courage to take that next step that your business needs. Godrej Capital Business Loans empower you with customizable financing solutions to grow your business to the next level!

 

Key Benefits | Interest Rates | Calculators | Documents Required | FAQs

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I Recently Got a Loan Against Property; am I Eligible for Tax Benefits Too?



You are mortgaging your property in exchange for a loan to further your dreams – to create a moment of joy. But did you know that there is a hidden advantage of tax benefits that this offering brings to the table?

 

Well, we suggest you read this article to know all about the tax benefits you can avail while on your journey to success. You can thank us later!

 

Loan Against Property Tax Benefits

 

Tax benefits of Loan Against Property depend on its usage. Let’s see the various sections under the Income Tax Act, 1961 that make you eligible for so.

 

Section 24(b)
If you avail Loan Against Property to buy a new home, you are entitled to receive a tax benefit of up to INR 2 lakhs. The deductions are allowed on the interest you pay on monthly EMIs. In other words, the interest component of the EMI is eligible for deduction.

 

Section 37(1)
Often Loan Against Property is availed to serve business needs. The good news is that if you do so, you are eligible for tax benefits. You can claim benefits on the interest paid, processing charges, and documentation charges incurred as business expenditures.

 

Note that sections 24(b) and 37(1) make you eligible for tax benefits on the interest paid and not on the principal amount.


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Scenarios When You are Not Eligible for Tax Benefits on Loan Against Property

 

As the usage of Loan Against Property is vast, using the funds for fulfilling needs, other than housing or business, doesn't qualify for tax exemption. You will not receive any tax benefits if you use the funds for personal expenses such as:

 

  • Marriage

     

  • Education

     

  • Vacation

     

Hence, to obtain Loan Against Property tax benefits, you must ensure not to use the funds for fulfilling the above-mentioned personal needs.

 

Also Read: All About Loan Against Property: You Asked, We Answered

 

Loan Against Property Eligibility and Application Process

 

The eligibility criteria for Loan Against Property differs across lenders. You will find the details on the website of the lender you choose. There are a few essential aspects that you need to consider before applying apart from the rate of interest.

 

Loan Against Property rate of interest is generally on the lower side as it’s a collateral-backed loan. Along with the rate of interest, parameters you need to gauge are:

 

  • The lender’s reputation

     

  • Processing and documentation fees

     

  • Repayment flexibility

     

  • Customer service capabilities

     

  • Ease of documentation and disbursal time

     

  • Property’s value disbursed as loan

     

Once you are satisfied with these aspects, go ahead, and apply. Most lenders have taken the application process online, where you need to fill up the application form and upload the relevant documents related to KYC, income, and the property you are mortgaging.

 

Fill up the application form with accurate details as any wrong information can lead to your application being rejected.

 

Godrej Capital is the financial services arm of Godrej Group which offers home loans, Loan Against Property and other secured loans. With innovative products and offerings, customers can get hassle-free loans on easy terms and conditions. Click here to know more about the offering.

 

Also Read: Common Mistakes to Avoid While Borrowing LAP

 

Disclaimer: The above information is for illustrative purpose only. For more details, please refer to the product or service document and/or connect with our customer representative prior to making any financial decision.