- Easy 10-years repayment option available
- Loan amount between Rs 5,00,000 – Rs 15,00,000.
- Loan Approval within 7 days
- Easy monthly repayment schedule
- Our loans are also available to households that do not have any income proof
- We provide direct-to-home service in local language
- Assistance on phone available at local call rates in Hindi and English
- Our loans are available at a fixed rates. That means that the EMIs don’t vary with The volatility in the market or a change in the interest rates
Loan Against Property
|Loan Tenure – Loan Against Property||10 years or 120 months|
|Loan Amount – Loan Against Property||Maximum Rs. 15 lakhs|
|Rate of Interest||Interest charged by KIG is FIXED for Loan against Property. Please refer the Tariff Schedule for amount wise rate of Interest.
Loan against property
The Annual Percentage Rate (APR) for the loans given by KIG is as follows
In the quarter Jan – Mar’15, KIG has disbursed loans at rate of interest mentioned below. The mean interest rate for the loans disbursed in quarter Jan-Mar’15 is 18.30%.
(For Fixed Rate loans only)
|A. Non-housing Loans:
Prepayment charges up to 4.5% (inclusive of service tax) of principal outstanding as on date will be applicable.
|Fees and charges||Loan against property
Rate of Interest: 15% onwards
Processing Fee: 4%
|Applicant(s)||Family members and co-owners of the property|
|Documents Required||1. Application form with photograph duly signed by all applicants
2. Identity proof – Voter ID, PAN, Driving License, Bank Passbook, etc.
3. Age proof – Voter Id, PAN, Driving Licence, Passport, Birth certificate, pass certificate of 10th or 12th
4. Property documents
5. Colored passport size photograph
|Additional documents that will help us process the loan easily||1. Last 3 months salary slips
2. Income Tax Returns of the last 2 years or Business Records
3. LIC Policy
4. FD or RD
5. Details of any other loan account that you are replaying currently
6. Any other savings or investment details
|Security||Equitable Mortgage of the property being financed by deposit of title deeds|