India Shelter Finance is a provider of home credit solutions to middle income families in India. India Shelter Finance Corporation Ltd (ISFC) helps middle income families to acquire new housing or to improve and extend their current housing.
Loan Against Property (LAP) is offered to urban households with monthly incomes and more. India Shelter provides Loan Against Property that can be used for both business and personal purposes. Loan Against Property (LAP) is generally used for various purposes that include funding for medical emergency, child’s wedding, business expansion, vacations, purchasing equipment or machinery, etc.
So now let’s get familiar with the Loan Against Property interest rate offered and the eligibility criteria set by India Shelter Finance Corporation.
Indian Shelter LAP Interest Rate 2020
|Interest Rate||15% onwards|
|Loan Re-payment Tenure||Max. Up to 10 years or 120 months|
|Loan Amount||Max. Rs. 15 Lakhs|
|Processing Fee||4% of the loan amount (Taxes Included)|
|Interest Rate Type||Fixed (Only)|
Interest rates are subject to periodic change and defined at the sole discretion of the respective bank, NBFC or RBI.
Loans against property can also be used for business expansion and meeting the credit requirements of the borrowers. Applicants can mortgage their self-occupied house, land, as well as rented residential property in order to avail loan against property or Mortgage loan.