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  1. Home
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  3. Suryoday Small Finance Bank Loan Against Property

Suryoday Small Finance Bank Loan Against Property

Loan against property (LAP) is the loan that you take by keeping your property as mortgage with the bank. You will get up to a certain percentage of your property's value under loan against property.

Purpose of Suryoday Small Finance Bank Loan Against Property

Suryoday Small Finance Bank offers Loan Against Residential / Commercial Property to meet business needs / expansion, renovation, improvement of shop, house, office, acquisition of equipment's and personal finance i.e. higher studies, marriage, etc.

It is suitable for following categories of persons:

  • Small shops
  • Traders
  • Retail stores
  • Small manufacturing units, etc.

Features and Benefits of Suryoday Small Finance Bank Loan Against Property

  • Simple processing and Doorstep services
  • Hassle free repayment schedule with pocket friendly monthly payments
  • Funds made available just when needed, helping you plan your cash flows better
  • Minimal documentation and faster processing
  • Life cover and property insurance to the extent of loan amount
  • Monthly instalments enabling you plan your fund management
  • Disbursement directly credited to your bank account

Eligibility Criteria of Suryoday Small Finance Bank Loan Against Property

Key businesses like, small shops, traders, retail stores, small manufacturing units, garages, service establishments, employees with cash salary, etc. can apply for this loan.

Documents Required for Suryoday Small Finance Bank Loan Against Property

Salaried Borrowers

  1. Application
    • Duly filled application form with photographs of all Applicant & Co-applicants and signed across
  2. Proof of Residence & Identity
    • Proof of Residence: A Valid Passport / Valid Driver's License / Voters Card / Aadhaar Card (Applicant & Co-applicants)
    • Proof of Identity: A Voter's Card / Valid Driver's License / Employer's Card / Aadhaar Card (Applicant & Co-applicants)
  3. Proof of Income
    • Last 3 month's Salary Slips / Salary Certificate with Deductions
    • Permanent Address confirmation from Employer.
    • Minimum 6 Month Updated banking of all bank account for Applicant / Co applicant
    • Loan Statement for all Current / Closed Loan
  4. Other documents
    • Employment Contract / Appointment Letter in case current employment is less than 1 year old.
    • Last 6 month's Bank Statements showing repayment of any ongoing loans.\
    • Account Payee Cheque for processing fee
  5. Property related documents
    • Sale Deed / Agreement For Sale / Copy of the Allotment Letter.
    • Receipt/(s) of payment/(s) made to the developer
    • Sanctioned Plan; if applicable
    • Estimate of construction; if applicable
    • N.A Order / Permission; if applicable

    6. Self Employed Borrowers(With income proof)

    1. Application
      • Duly filled application form with photographs of all Applicant & Co-applicants and signed across
    2. Proof of Residence & Identity
      • Proof of Residence: A Valid Passport / Valid Driver's License / Voters Card / Aadhaar Card (Applicant & Co-applicants)
      • Proof of Identity: A Voter's Card / Valid Driver's License / Employer's Card / Aadhaar Card (Applicant & Co-applicants)
    3. Proof of Income
      • Last 3 month's Salary Slips / Salary Certificate with Deductions
      • Last 3 year's Balance Sheet and Profit & Loss A/c Statements, with Annexures/Schedules (Should be of both the individual and the business entity and attested by a CA)
      • Last 6 month's Current A/c Statements of the business entity and Savings Account Statements of the individual (Should be of both the individual and the business entity and attested by a CA)
    4. Other documents
      • Business Profile
      • Latest Form 26 AS
      • List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company.
      • Memorandum and Articles of Association of the Company
      • Partnership Deed in case of the business entity being a partnership firm
      • Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc.
      • Account Payee Cheque for processing fee
    5. Property related documents
      • Sale Deed / Agreement For Sale / Copy of the Allotment Letter
      • Receipt/(s) of payment/(s) made to the developer
      • Sanctioned Plan; if applicable
      • Estimate of construction; if applicable
      • N.A Order / Permission; if applicable

      6. Self Employed Borrowers(Without income proof)

      1. Application
        • Duly filled application form with photographs of all Applicant & Co-applicants and signed across
      2. Proof of Residence & Identity
        • Proof of Residence: A Valid Passport / Valid Driver's License / Voters Card / Aadhaar Card (Applicant & Co-applicants)
        • Proof of Identity: A Voter's Card / Valid Driver's License / Employer's Card / Aadhaar Card (Applicant & Co-applicants)
      3. Proof of Income
        • Assessed Income by the credit officer together with self-attestation of Applicant / Co applicants
        • Purchase bills last 6 months
        • Sale Bills for last 6 months
        • Business Transaction Book Xerox
        • Minimum 6 Month Updated banking of all bank account for Applicant / Co applicants
        • Loan Statement for all Current / Closed Loan
      4. Other documents
        • Business Profile
        • Details of ongoing loans of the individual and the business entity including the outstanding amount, instalments, security, purpose, balance loan term, etc.
        • Account Payee Cheque for processing fee
      5. Property related documents
        • Sale Deed / Agreement For Sale / Copy of the Allotment Letter
        • Receipt/(s) of payment/(s) made to the developer
        • Sanctioned Plan; if applicable
        • Estimate of construction; if applicable
        • N.A Order / Permission; if applicable

        6. Loan Amount under Suryoday Small Finance Bank Loan Against Property

        Will be decided by the bank based on borrower's loan repayment capacity, income statements, cash flows and past track record of repayment.

        Loan value up to Rs. 10 Lakhs can be given under this scheme.

        Loan Tenure under Suryoday Small Finance Bank Loan Against Property

        Repayment tenor up to 60 months. The borrower can choose any tenure upto 60 months according to his/ her requirement.

        Interest Rate on Suryoday Small Finance Bank Loan Against Property

        Interest rate offered by the bank is very competitive. Please contact your bank branch for further details.

        Upcoming Bank Holidays

        2024 May 01 is a bank holiday in Goa due to Maharashtra Din/May Day (Labour Day).
        2024 May 08 is a bank holiday in Andaman And Nicobar Island due to Birthday Of Rabindranath Tagore.
        2024 May 10 is a bank holiday in Karnataka due to Basava Jayanti/Akshaya Tritiya.
        2024 May 16 is a bank holiday in Sikkim due to State Day.
        2024 May 23 is a bank holiday in Andaman And Nicobar Island due to Buddha Purnima.
        2024 May 23 is a bank holiday in Jharkhand due to Buddha Pournima.

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        Highest FD Interest Rates

        Bank NameInterest(p.a.)
        Esaf Small Finance Bank 8.75%
        Suryoday Small Finance Bank8.50%
        Utkarsh Small Finance Bank8.50%
        Equitas Small Finance Bank 8.50%
        North East Small Finance Bank 8.50%
        Ujjivan Small Finance Bank 8.30%
        Indusind Bank8.00%
        Fincare Small Finance Bank Ltd8.00%
        The Nainital Bank 7.90%

        Senior Citizen FD Interest Rates

        Bank NameInterest(p.a.)
        Esaf Small Finance Bank 8.75%
        Suryoday Small Finance Bank8.50%
        Utkarsh Small Finance Bank8.50%
        Equitas Small Finance Bank 8.50%
        North East Small Finance Bank 8.50%
        Ujjivan Small Finance Bank 8.30%
        Indusind Bank8.00%
        Rbl Bank 8.00%
        Fincare Small Finance Bank Ltd8.00%
        The Nainital Bank 7.90%

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