Sundaram BNP Paribas Loan Against Property

About Sundaram Home Finance

Sundaram Home Finance Limited was incorporated in 1999. It is a subsidiary of Sundaram Finance Limited. In 2007, BNP Paribas Personal Finance entered into a joint venture with Sundaram Finance Limited and subsequently acquired a 49.9% stake in Sundaram Home Finance Limited. The company was renamed Sundaram BNP Paribas Home Finance Limited.

Sundaram Finance is one of the leading NBFCs in the country, and provides an array of housing loans including Loans against Mortgage of Property (LAMP). These loans are among the cheapest loans available on the market and are a good way of raising funds without selling your property asset. The interest rates on this type of loan are lower than a personal loan.

Sundaram Loan Against Property

Not everyone is financially settled in life. Almost everyone, at some point or the other, needs that much needed support in the form of a loan to bolster a personal financial situation. Unexpected situations can crop up any time of your life that require an extra infusion of funds - be it loss of a job, or to fund a business. With a Loan against Property from Sundaram, you can now source funds at a cheaper cost rather than going for a personal loan.

Sundaram Loan Against Property Features

Loan Amount

You can avail a loan amount of up to 50% of the value of property mortgaged and as determined by Sundaram BNP Paribas Home. The loan amount sanctioned is also dependent on your income.

Attractive interest rates

Sundaram BNP Paribas offers attractive interest rates depending on your eligibility criteria.

Loan tenure

If you are salaried, you can avail a maximum tenure of 10 years (or) retirement age – whichever is earlier. If you are self-employed, you can avail a maximum tenure of 10 years or 65 years whichever is earlier. You get the flexibility to plan your finances and pay in EMIs suited to your budget and needs.

Types of collateral accepted

Both residential and commercial properties are accepted as collateral for availing a loan against property.

Sundaram Loan Against Property Interest Rate

Sundaram BNP Paribas offers attractive interest rates depending on a host of eligibility criteria which might include but is not limited to your credit history and other factors that reflect your financial capability and behavior.

Sundaram Loan Against Property Eligibility

Sundaram Loan Against Property can be availed by salaried individuals, self-employed professionals, and self-employed businessmen. They should be able to demonstrate a stable source of income.

Sundaram Loan Against Property Documents Required

The documents that you need to submit are as follows:

For the Salaried

• Application form with Passport Size Photographs
• PAN Card
• Identity Proof – Voter ID / Driving License / Passport (Any one can be submitted)
• Address Proof – Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement (Any one can be submitted)
• Latest 3 months’ salary slip / latest Form 16 issued by the employer.
• Six months bank statement (where salary is credited)
• Processing fee cheque

For the Self-employed Professionals

• Application form with Passport Size Photographs
• PAN Card
• Identity Proof – Voter ID / Driving License / Passport (Any one can be submitted)
• Address Proof – Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement (Any one can be submitted)
• Last six months bank statement
• Educational Qualifications Certificate and Proof of business existence
• Last 3 years Income Tax returns (self and business)
• Last 3 years Profit /Loss and Balance Sheet, duly attested by a CA
• Processing fee cheque

For the self-employed businessman

• Application form with Passport Size Photographs
• PAN Card
• Identity Proof – Voter ID / Driving License / Passport (Any one can be submitted)
• Address Proof – Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement (Any one can be submitted)
• Educational Qualifications Certificate and Proof of business existence
• Last 3 years Income Tax returns (self and business)
• Last 3 years Profit /Loss and Balance Sheet duly attested by a CA
• Last 6 months bank statements (self and business)
• Processing fee cheque

Sundaram Loan Against Property FAQs

Who can apply for Sundaram Loan Against Property?

An applicant who is a salaried / self-employed individual with adequate financial capability and repayment capacity.

Can I apply for a loan against property along with a co applicant?

Yes, relatives as agreed by the company can join as co-applicant/s.

What is the fee associated with my loan Against Property Application?

The processing fee depends on the loan amount. You can contact your nearest branch for more information.

What is the maximum loan amount that I can avail?

The maximum loan amount depends on the market value of the property as assessed by the company. A total of 50% of the property value will be disbursed after approval and successful verification.

What is the mode of repayment?

You can pay in EMIs by way of

• ECS by standing instruction to auto debit your account with the monthly EMI amount
• Post dated cheques
• Salary deduction

Can I prepay my loan secured against my property?

Yes, loans can be prepaid either in part or full ahead of schedule, for which you will be levied a prepayment charge as per the polices of the company.

Sundaram Loan Against Property Review

Sundaram Home Finance facilitates quick completion of the formalities once the loan is approved. A Loan Against Property is a multi-purpose loan which you could use to float in a time of financial crisis or just to fund your child’s dream marriage or any other business or substantial personal financial requirement. Unlock the hidden value of your property by availing Loan Against Property from Sundaram.

How to Get Loan Against Property from Sundaram - Apply for Sundaram Loan Against Property

You can visit any Sundaram Finance branches to discuss your eligibility and for details on your home loan. You can submit a completed application form along with the required documents.

You can call the customer care at any of the branches who will assist you in the loan process.

You can also download the application form which is available at the Sundaram website and submit the filled in form to the nearest to you along with the necessary documents.

Alternatively, if you think you need help with your loan application and advice on loan eligibility, CreditMantri can guide you through the entire process and match you with the loan offer that best suits your profile.