- Loan Against Property
- Other Products
Loan Against Property at 9.50%* p.a.
What is Loan Against Property?
Loan against property also known as a ‘multi-purpose’ loan is a type of loan that makes assets available to you to use as you wish. Whether it is a set of goals that you want to attain, renovate your house, wedding in your family, taking care of your child's education or manage your business finances, a loan against property from Spoctree covers it all.
We, at Spoctree, have offers that are easy and hassle-free along with customized loan plans for every individual. When it gets difficult to choose from multiple options that various banks have to offer, we make sure to help you to select the right option.
Loan Against Property Chart
Interest Rate
9.40% to 11.90%
EMI (Monthly)
Starts at Rs.840/Lac
Processing Fees
Upto 1.5% of Loan Amount
Loan Tenure
Up to 30 years
Guarantor Requirement
No Guarantor Required
Pre-Payment Charges
Nil (Post 36 Months)
Pre-closure Charges
Nil (Post 36 Months)
Loan to Value
Up to 60% of Property Market Value
Features of Loan Against Property from Spoctree
- Loan on various property — With Spoctree, you can avail loan against your residential/commercial property, or a loan to purchase a commercial property.
- Flexible repayment
— Pay your mortgage loan according to your budget and enjoy the flexibility of part payment facility.
— Spoctree allows you to borrow for tenures for a period of 20 years with the flexibility to modify the tenure structure according to your financial needs. - Transparent processing — All charges communicated upfront at the time of loan processing. No hidden charges.
- Quick and efficient servicing — With Spoctree's quick service, your loan against property will be processed quickly and with ease.
- Security
— Spoctree provides equitable mortgage of the property for when the commercial properties are rented out on lease.
— In addition to that, a tripartite agreement/irrevocable power of attorney is also required. - Online account management — Access your loan details anytime and anywhere via the customer portal
Benefits of Loan Against Property from Spoctree
- Spoctree assists with the quickest mortgage loan credit which disburses within 4 days post-approval.
- Simple repayments through monthly installments.
- Easy and hassle-free documentation.
- Lowest processing charges.
- No prepayment penalties. This feature of Spoctree helps you have surplus funds thereby reducing your interest burden and loan liability.
Documents Checklist
List for Salaried Individual
- KYC documents
— PAN Card (mandatory) and any one of the below documents:
↣ Copy of your passport
↣ Copy of your Voter ID card
↣ Copy of your Aadhaar card
↣ Copy of Driver's license
- Proof of income
— Copy of last 3 months' salary slips
— Copy of last 6 months' bank statements - showing salary credits
— Copy of latest Form-16 and IT returns - Property related documents — All charges communicated upfront at the time of loan processing. No hidden charges.
- Other documents required
— Last 6 months' Bank Statements showing repayment of any ongoing loans
— Appointment letter or employment contract in case current employment is less than a year old
— A photograph of all applicants/co-applicants.
— For ongoing loans - Copy of last 6 months' bank statements showing repayment of on-going loan
List for Self-Employed Individual
- KYC documents
— PAN Card (mandatory) and any one of the below documents:
↣ Copy of your passport
↣ Copy of your Voter ID card
↣ Copy of Driver's license
- Proof of income
— Copy of income tax return along with the computation of 2 financial years.
— Balance sheet and profit & loss account (with schedules and audit report) – audited or CA certified
— Copy of last 6 months' current account statement of the business entity and savings account - Property related documents
— Copy of complete chain documents of the property (as applicable)
— Copy of approved plan (only if applicable) - Other documents required
— Memorandum of Agreement (MOA) - for private limited companies
— List of the shareholding pattern (duly CA/CS certified)
— For ongoing loans - a copy of last 6 months' bank statements showing repayment
— Partnership deed - for partnership firms
Why Choose Spoctree
Simple Process
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Validate – Verify the mobile number
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