A mortgage loan, or simply mortgage, is used either by purchasers of real property to raise funds to buy real estate, or alternatively by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. Mortgage loans are also known as or claims on the property, Loans against Property, Loans on Property, or liens against the property. In case, you stop repaying your mortgage loan, the lender/bank has the complete right to possess and sell the secured property. A mortgage loan involves the following components – principal, interest, tax, and insurance. Principal is the amount you actually borrow from your lender. Interest is the reward your lender receives for lending you the money. The interest rate plays a major role in increasing the size of your mortgage loan.

Starinvest India Nidhi Ltd. offers a host of Home Loan options that can be tailor-made to suit individual needs. A mortgage loan is a Loan against Property (LAP) that helps you with financial needs to invest in your business ventures while allowing you to direct all your attention to your business. With a Loan against Property, you can leverage the value of a residential or commercial property, and we will ensure that your enterprise does not feel the burden of working capital, warranting a stable business for you.

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Features & Benefits

• Higher LTV and Loans from Rs.1.00 lakh onwards depending on your needs
• Attractive Interest Rates
• Benefits of lower EMI
• Hassle-free documentation procedures
• Pay at any of our branches
• Approval within days
• Flexible re-payment
• Loan Against Property – Residential, Commercial, Agricultural
• Loan decided/granted on re-payment capacity and market value of the property.
• Repayment tenure up to 60 months and 84 months
• No Lock-in period of foreclosure
• Part-payment allowed.

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Rate of Interest

• The interest rate varies from 12.5% to 19.5% per annum
• Property situate in Corporation or Municipality limits
• Service charge @ 1% on the loan amount
• GST @ 18% on the service charge

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Property Documents Required for Mortgage Loan

1. Parent document of the property.
2. Sale deed of the property.
3. Encumbrance certificate for a period of 33 years.
4. Up-to-date Property Tax Receipt.
5. Up-to-date Electricity Bill & E.B. Card.
6. Income proof of all working individuals in the family.
7. Photo of the Property in an elevated Front view and a Photo covering the inner view.
8. Any other document that may be considered necessary after scrutiny.

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KYC Documents Required for Mortgage Loan

1. Proof of Identity – Voter ID, Aadhar Card, PAN Card (Any one).
2. Proof of Address – Voter ID, Aadhar Card, Ration Card, Telephone bill, property tax bill, lease deed (Any one).
3. Four Passport size photographs.