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

Should I Opt for loan against property

Loan Against Property vs. Other Loans: Making an Informed Choice



Numerous experts recommend selecting a Loan Against Property as the optimal funding choice. In comparison to alternative loan products, Loan Against Property (LAP) features a flexible interest rate, lacks constraints on end-use, offers an extended repayment tenure, and encompasses various additional benefits.

 

It is advisable to conduct a thorough examination of information compiled on diverse loan products, including LAP, Home Loans, Personal Loans, and Gold Loans. Take the necessary time to carefully review each loan type and choose the one that aligns most effectively with your requirements.

 

LOAN AGAINST PROPERTY

As previously stated, Loan Against Property stands out as the most favorable option but here are the key features that will help you identify and make an informed choice.

 

Loan Against Property Features

 

Property Ownership in Loan Against Property

If you choose a Loan Against Property, you still own the property you put up as collateral. The lender doesn't take ownership, so you can use the property as you want, as long as you make your regular EMI payments.

 

Loan Against Property Interest Rate

Since Loan Against Property is secured, it typically has lower interest rates compared to unsecured loans. Borrowers with a positive credit history and steady income can negotiate favorable interest rates.

 

Flexible Repayment Tenure of Loan Against Property

Loan Against Property is known for its flexible repayment options, allowing for extended tenures of up to 20 years. Certain lenders, like Godrej Finance, may even provide tenures as long as 25 years.

 

End Use of a Loan Against Property

Typically, borrowers have the freedom to use Loan Against Property funds without specific restrictions, as long as the purpose is legal and legitimate.

 

Salaried Individuals

Self - Employed

  • Must be the owner of the property
  • Must be an Indian citizen
  • Age must be between 21-60 years
  • Must be employed by a private company or PSU
  • Must meet the minimum income requirement specified by the lender
  • Must be the owner of the property
  • Must be an Indian citizen
  • Age must be between 21-60 years
  • Business vintage of 3 years+ is a must
  • Profits in the previous two years are required

 

Loan Against Property Eligibility

 

Also Read: A Comprehensive Guide to Loan Against Property

 

HOME LOANS

Home loans facilitate borrowers in realizing their homeownership aspirations. Given that homeownership is synonymous with personal success therefore, home loan is highly sought after in our country.

 

Home Loan Features

 

Income Tax Benefits

When you take a Home Loan, you can get some money back on your income taxes. You can reduce the amount of income you're taxed on by claiming deductions. For example, you can deduct stamp duty costs up to INR 1.5 lakh under Section 80C. Additionally, you can deduct up to INR 2 lakh on the interest under Section 24B, and up to INR 2 lakh under Sections 80EE and 80EEA. For the repayment of the loan amount itself, you can claim up to INR 1.5 lakh under Section 80C. These deductions help in reducing the overall amount of income on which you have to pay taxes, providing some financial benefits for those who have taken a Home Loan.

 

End Use

Did you know that a home loan isn't just for buying a new home? You can use it for other things too! If you want to buy a piece of land for building in the future or if you need money to fix up or improve your current home, you can also use a home loan for that. It's not just about getting a loan to buy a new house – there are different ways you can use a home loan to help with your housing needs, whether it's for construction, repairs, or making improvements to your existing home.

 

Home Loan Eligibility

Home Loan Eligibility for Salaried and Home Loan Eligibility for Self-Employed Individuals

  • Age must be between 18-60 years
  • Monthly income for salaried borrowers & business stability for self-employed
  • CIBIL score must be 650 & above
  • Minimum income threshold set by lender
  • Check existing financial obligations

 

 Also Read: Buying a Home Together – A Tax Saving Instrument

 

PERSONAL LOANS

Personal loans are a helpful tool that you can use for anything you need. Just like with a Loan Against Property, you get all the money you need at once. Then, you can pay it back slowly over time with regular monthly payments. It's a flexible way to get the funds you require and manage the repayments in a way that suits your budget. You can also check your payable monthly EMI using an EMI calculator.

 

Personal Loan Features

 

Fast Loan Approval

To get a personal loan fast, you need to meet certain requirements. Having a good credit score is really helpful. The money is usually given to you within a day, but it depends on the bank or lender. So, if you're in a hurry, a personal loan can be your best choice during an urgent situation.

 

No Collateral Requirement

If you meet the requirements, you don't have to give anything valuable as security besides proof of your income. This means your important belongings are safe. A personal loan is considered the best choice when you need money quickly.

 

Personal Loan Flexibility

The amount of a personal loan depends on things like whether you've paid your bills on time, how much money you make each month, how old you are, what job you have, how well-known your employer is, and other similar things. Lenders can determine personal loan amounts starting from Rs. 10,000 up to Rs. 40 lakhs, depending on these factors.

 

End Use

Personal loans are often called 'all-purpose loans’. This means you can use the money for anything you need, like buying new furniture, appliances, going on a vacation, and more. However, it's important to know that you can't use the loan for things that are speculative or illegal. Stick to using it for your regular needs and plans.

 

Personal Loan Eligibility

Personal Loan Eligibility for Salaried and Personal Loan Eligibility for Self-Employed Individuals

  • Must be an Indian citizen
  • Age must be between 21-60 years
  • Minimum income per month (varies for metros & non-metros) (varies across lenders)
  • Employed with a private or public company
  • CIBIL score must be 650 & above

 

 

GOLD LOANS

In India, many people use and value gold a lot. Because of this, owning gold can be a good thing and can be a financial tool for people who have it.

 

Gold Loan Features

 

Fast Processing

Getting a gold loan is fast because real gold is used as security. This makes it easy for banks and other lenders to provide gold loans. As a result, banks often approve gold loans in just a few hours.

 

Unique Repayment Options

With many gold loans, you can choose to pay only the interest without repaying the actual borrowed amount for a while. The gold loan interest rate is also attractive. You have the option to pay back the main borrowed amount later, towards the end of the payment period.

 

Anytime Liquidity

Gold loans are sometimes called "ATL," which stands for anytime liquidity. This means that, unlike other ways of getting money, you can apply for a loan in less than 30 minutes without doing a lot of paperwork.

 

End Use

Gold loans have no restrictions on how you can use the money. You can use it for anything, like funding a wedding or buying jewelry. However, using it for speculative or illegal purposes is prohibited.

 

Gold Loan Eligibility

Gold Loan Eligibility for Salaried and Gold Loan Eligibility for Self-Employed Individuals

  • Age must be between 18 - 65 years
  • Salaries, self-employed, pensioners, or homemakers can opt for a gold loan
  • Gold pledged must be of 18k or 22k purity

 

 

RECAP

Loan Type

LAP

Home Loan

Personal Loan

Gold Loan

Features

  • Ownership of the Property
  • Low-Interest rate
  • Flexible Repayment Tenure
  • Unrestricted end-use
  • Dual Interest Rate Option
  • Unrestricted End Use
  • Tax Benefits
  • Fast Loan Approval
  • No Collateral Requirement
  • Loan Amount Flexibility
  • Unrestricted end Use
  • Fast Processing
  • Unique Repayment Option
  • Anytime Liquidity
  • Unrestricted end Use

 

Now that you know about different types of loans, consider taking a closer look at Loan Against Property. It uses real estate as security, and you can get tax benefits on the interest you pay. For example, if you use the loan for repairs and insurance of machinery, plant, and furniture, you may qualify for benefits under Section 31 of the Income Tax Act. Additionally, if you take the loan to build a new home, you can get income tax benefits of up to Rs. 2 lakhs under Section 24 of the IT Act. 

 

To sum it up, deciding between a Loan Against Property and other loans is about understanding your financial needs. While a Loan Against Property uses your property as security, it offers flexibility and potentially lower interest rates. It's great for substantial funding needs. Other loans, like personal loans, might have higher interest rates but no need for collateral. Consider your requirements, repayment capacity, and the purpose of the loan. If you own property and need a larger amount with favorable terms, a Loan Against Property could be a wise choice. Otherwise, explore other loans based on your specific financial situation and borrowing needs.

 

Disclaimer: The contents of this article are for information purposes only & not a financial advisory. For more details, please refer to the product or service document and/ or connect with our customer representative before making any financial decision. The information is subject to update, completion, revision, and amendment and may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Godrej Capital or its Affiliates to any requirements. Godrej Capital or its Affiliates shall not be responsible for any direct/indirect loss or liability incurred by the reader for making any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.

 

Financing through Godrej Finance/Godrej Housing Finance Limited. Product Terms & Conditions apply, for details visit https://www.godrejcapital.com