Abhyudaya Co Operative Bank Loan Against Property

Abhyudaya Co-Operative Bank Loan Against Property

For any major requirements such as funds for business plans, higher education or medical treatment etc, getting a loan against property could be a feasible option to manage the situation. Understanding the scenario, Abhyudaya Co-Operative Bank, one of the leading banks in India, allows you to pledge your property to meet the goals or requirements.

Obtaining a Abhyudaya Co-Operative Bank loan against property is simple as the process is quicker and approvals are done faster. With flexible repayments, this loan is preferable and affordable by all.

Key Highlights of Abhyudaya Co-Operative Bank Loan Against Property

What is Loan Against Property?

Introduction to Abhyudaya Co-Operative Bank Loan Against Property

Abhyudaya Co-Operative Bank, one of the leading private banks in India, offers loans against your residential or commercial property. The borrowers can get funds up to 60% value of the property from Abhyudaya Co-Operative Bank loan against property. With customised loan options, Abhyudaya Co-Operative Bank provides competitive interest rates and flexible repayment options.Abhyudaya Co-Operative Bank loan against your home could be the perfect solution for all your financial needs as the approvals are done in 3 days. Door-step services are offered, and the loan processing is done quickly and easily.

Advantages of Abhyudaya Co-Operative Bank Loan Against Property

• Long tenure with small EMIs
• Attractive interest rates
• Hassle-free documentation
• Quick processing
• Loans for both commercial and residential properties

Features of Abhyudaya Co-Operative Bank Loan Against Property

Purpose:The main objective of Abhyudaya Co-Operative Bank loan against property is to provide finance to individuals who have various financials goals and requirements. Both residential and commercial properties are accepted by the bank as collateral.

Loan Amount: The borrowers can get up to 60% value of the property at attractive interest rates.

Repayment Options: The customers can opt for low EMIs and longer tenure or overdraft facility on Abhyudaya Co-Operative Bank loan against property.

Loan Processing: No hidden charges are levied on processing the loan and all the charges are communicated up front.

Customised Loan: One of the major benefits is that self-employed professionals can get their loans customised based on their needs. This is to facilitate better easy repayment and manage their business as well.

Prepayment charges:Are levied for outstanding loan amount and it can be done only after six months of taking the loan.

Processing Fee: 1.30% of the loan amount are levied for processing the loan and all the charges are communicated up front

Overdraft Facility: You can avail overdraft facility against property which allows you to use the loan amount up to an approved limit and pay interest only to the amount you have used.

Eligibility Criteria for Abhyudaya Co-Operative Bank Loan Against Property

To apply for an Abhyudaya Co-Operative Bank loan against property, you must be either a self-employed professional or a salaried employee working in a reputed private company or government organisations.

Abhyudaya Co-Operative Bank Loan Against Property Interest Rate 

The rate of interest for Abhyudaya Co-Operative Bank is

With 50% or more collateral securities up to Rs.5 lakh is 12.50%
Without collateral or less than 50% collateral securities up to Rs.5 lakh is 13%
Groups loans under Surety Loans with confirmed ECS or SDL is 12.50%

Priority: 12.00%
Non-Priority: 12.50%

Abhyudaya Co-Operative Bank Loan Against Property Balance Transfer

The customers can transfer the loan against property from another bank to Abhyudaya Co-Operative Bank for Lower interest rate.This can significantly reduce the loan burden and monthly outgo on EMIs.

Documents Required to get Abhyudaya Co-Operative Bank Loan Against Property

The documentation is easy and hassle free. The following documents are required to get Abhyudaya Co-Operative Bank loan against property along with the application.

For Salaried Individuals

Application form with photograph

Any one of the following as proof of residence

• Aadhar card
• Ration card
• Telephone bill
• Electricity bill
• Voter ID card

Any one of the following as proof of identity

• Voter ID
• Driving Licence
• Aadhar card
• Employer’s ID

Bank statement of last 6 months where you can show your salary or income details

Salary slip of last 6 months

Photocopies of all documents related to the property that you are going to pledge for the loan

From 16 for the past 2 years

For Self-Employed Individuals

Certified financial statement for the previous 3 years

Any one of the following as proof of residence

• Aadhar card
• Ration card
• Telephone bill
• Electricity bill
• Voter ID card

Any one of the following as proof of identity

• Voter ID
• Driving Licence
• Aadhar card
• Employer’s ID

Bank statement of last 6 months where you can show your salary or income details

Salary slip of last 6 months

Photocopies of all documents related to the property that you are going to pledge for the loan

Benefits of Abhyudaya Co-Operative Bank Loan Against Property

Using the funds acquired from Abhyudaya Co-Operative Bank loan against property, you can fulfil your immediate and long-term needs such as business needs, marriage, medical expenses and other personal needs. The repayment is easy as you can get long tenure with small EMIs at attractive interest rates. The documentation is easy and hassle free and processed quickly. With the overdraft facility, the customers can pay interest to the amount you have used. The customers can avail the services from anywhere in India.

How to Apply for Abhyudaya Co-Operative Bank Loan Against Property?

Applying for an Abhyudaya Co-Operative Bank loan against property is simple. You can either apply online or visit a nearby Abhyudaya Co-Operative Bank branch.

Applying Online:

Those who are interested can visit the official website of the bank and select ‘Apply Now’ option under ‘Loan Against Property’ page. After completion and submission, the application will be validated by the lender. A representative from the bank will check the documentation following which it will be sent for approval.

Abhyudaya Co-Operative Bank Loan Against Property FAQ

1. What are that properties that can be considered as collateral for Abhyudaya Co-Operative Bank loan against property?

Self-occupied residential properties and commercial properties such as shops and offices are considered collateral.

2. What is the maximum loan amount I can get from Abhyudaya Co-Operative Bank loan against property?

You can get up to Rs. 1 crore

3. Can I pre-close my loan against property account?

Yes, you can. You need to submit a written request to the nearest Abhyudaya Co-Operative Bank branch to close your account. You may have to pay a small fee as penalty while prepaying. However, it differs based on the loan amount and interest type.

4. Can I make part-prepayment on Abhyudaya Co-Operative Bank loan against property?

Yes, you can make part-prepayment and no charges are levied on floating interest type.

5. How can apply for Abhyudaya Co-Operative Bank loan against property?

You can either apply online or visit the nearby Abhyudaya Co-Operative Bank branch or through CreditMantri official website.

6. Will I be charged a penalty for not paying my EMI on Abhyudaya Co-Operative Bank loan against property?

Yes, you will be charged as stated in additional charges section

Yes, you can avail overdraft facility against your property as a term loan.

8. What is the interest rate range to avail Abhyudaya Co-Operative Bank loan against property?

The interest rate ranges between 12.50% to 13%.

9. What is the processing fee on Abhyudaya Co-Operative Bank loan against property?

The processing fee is up to 1.30% of the loan amount are levied for processing the loan and all the charges are communicated up front

10. Can I top up the Abhyudaya Co-Operative Bank loan against property?

Yes, you can top up loans under adjustable rate which is linked to Abhyudaya Co-Operative Bank’s retail prime lending rate.

11. Can I get Abhyudaya Co-Operative Bank loan against property without any income proof?

No, you cannot get it without showing income proof.

12. In what cities Abhyudaya Co-Operative Bank loan against home and land available?

Abhyudaya Co-Operative Bank loan against property is available in Bangalore, Chennai, Mumbai, Kolkata, Pune etc. The loan can be availed after submitting land or home documents to the bank as collateral.

About Abhyudaya Co-Operative Bank