Loan Against Property

 

Godrej Capital's Loan Against Property (LAP) is designed to support business growth with high loan eligibility, flexible EMIs, longer tenures, and a wide range of acceptable collaterals. This loan provides substantial funding based on property value, making it ideal for significant business investments and expansions.

 

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Udyog Loan Against Property

 

For MSMEs aiming for growth, Godrej Capital Business Loans for small businesses offer the funds needed to expand their business and manage cash flow. Apply for MSME loan without collateral today!

 

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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. Apply today for a collateral free loan today!

 

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. Apply today for a collateral free loan today!

 

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

Professional Loan for CAs

 

Godrej Capital's Professional Loan helps CAs in expanding practice, hiring new staff, enhancing equipment, and upgrading services for business growth. Get a loan without collateral and take your career to new heights.

 

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

Business Loan for MSMEs

 

For MSMEs aiming for growth, Godrej Capital Business Loans for small businesses offer the funds needed to expand their business and manage cash flow. Apply for MSME loan without collateral today!

 

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

Business Loan for Women

 

Are you a woman entrepreneur? Godrej Capital's Business Loans for women-owned MSMEs help them fuel growth and meet business needs without any collateral. Apply for a small business loan today!

 

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

Business Loan

 

Empower your business with Godrej Capital's Business Loan, offering flexible financing solutions to help businesses take the next step for growth. Apply for online Business Loan without collateral today!

 

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

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5 Things to Consider Before Prepaying Home Loan



While home loan prepayment is a convenient option to close the loan before its tenure, the exercise calls for keeping some essential things in mind. It shouldn’t be a rushed decision and must be taken after considering all aspects. What are these? Let’s find out.

 

Be Aware About Home Loan Prepayment Rules

Before you prepay a home loan, you must be aware of the prepayment rules. Home loan prepayment rules differ for individuals and non-individuals. Note that when non-individuals procure a home loan, either on the fixed or floating interest rate, and prepay the same, attracts a penalty. When a company or a firm is the borrower or co-borrower of the home loan, they are considered non-individuals.

 

On the other hand, individuals generally don’t have to pay prepayment penalties towards their home loan, particularly if the loan is procured on a floating rate basis. Hence, it is important for you to be aware of home loan prepayment rules by reading the terms and conditions. In case of any doubt, do seek your lender’s help.

 

Choose Wisely Between EMI Reduction and Loan Tenure

This is another vital consideration when you are considering prepayment of a home loan. If you choose to reduce your tenure, you can close your loan earlier than the original tenure and also save on interest payments. You can use online home loan prepayment calculators to compute the amount saved on interest if you choose to reduce the tenure.

 

Note that generally, the tenure gets adjusted, and you have to specifically ask for any change in the EMI amount. Evaluate both options carefully and choose the one that best suits your requirement.

 

Evaluate the Impact it Has on Tax Savings

Tax saving is an essential aspect of a home loan. The principal and interest both are eligible for tax exemption. However, when you prepay your home loan, it reduces the outstanding principal and subsequently the interest outgo. So, you could miss out on tax savings. Therefore, before home loan prepayment, be mindful of the tax benefits you might have to forgo if you prepay your Home Loan. You can consult an independent and neutral tax professional before making a decision.

 

Timing of Prepayment

If you are contemplating home loan prepayment, it is best to do so during the initial tenure of the loan when the interest component is high. Doing so and arranging funds for the same at a later stage may not help you maximize the benefit of home loan prepayment to the fullest, as you would have already paid a chunk of the interest.

 

Hence, timing plays a crucial role. If you prepay later, you can better utilize the funds to invest elsewhere and build a corpus for other life goals.

 

In Conclusion
Keeping in mind these essential factors will help you leverage the potential of Home Loan prepayment to the fullest and save money in the long run. Evaluate the possible pros and cons of Home Loan prepayment before going ahead.

 

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.

 

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.