Mortgage Loan in
Bangalore

Mortgage Loan Interest Rates in Bangalore from 12% onwards for the month of Apr 2024

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Low Interest Mortgage Loan Providers in Bangalore

Bangalore is a vibrant city and the software capital of India which is expanding every year and clocking high business growth. There is a huge influx of individuals and businesses who have set up in the city and have acquired property here. But everyone requires capital at some time to either meet individual expenses or provide for a business need.

Loans Against Property (LAP) or Mortgage loans are a blessing for these business units in Bangalore to get a source of capital which can be repaid in longer tenures. LAP in Bangalore is provided to individuals with a source of income through salary or self-employment who have a property in their name. The loan usually can be repaid in tenures of 10 to 30 years depending on the eligible amount. The eligibility is calculated based on two criteria namely the value of the property and the repayment capacity of the individual. LAP in Bangalore is given if you own a piece of land, a house or a flat and the funds can be used for a variety of personal or business reasons. The value of the loan is restricted from 40% to 60% of the property value in most cases and the interest rates are in the 12% to 16% range.

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Be informed of the different ways your Mortgage Loan Rate of Interest in Bangalore is calculated so that you take the right decision when it comes to choosing your loan at the lowest interest rates. Apply below to get started and to know the offers that are available on your Mortgage Loan in Apr 2024

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Eligibility Criteria for Loan Against Property (LAP) in Bangalore

Salaried and self-employed individuals in the age group of 24-60 years
The property should be completely ready by the time of taking the loan
The individual should have a job stability or business stability of atleast 3 years
Salaried individuals should be working with a reputed private company, public company or the government
Should have been staying in the city for atleast the past 2 years
You would require basic documentation such as your address proof, identity proof, latest bank statements etc

Documents Required for Bangalore Mortgage Loan

Three passport size photographs
ID proof – Passport/voter ID/ Aadhar or drivers licence
Residence Proof – Passport/ Landline bill/ post paid mobile bill/ rental agreement or Bank Statement
Pan Card copy
Age Proof – Passport/ drivers licence/school certificate or Pan Card copy
Income Proof - Latest 3 months salary slips or business P&L statement
Banking Statement - 6 months bank statements
Property ownership – Original copy of registration along with other relevant tax documents for land or building

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How we work?

We have greatly simplified your Mortgage Loan search in Bangalore and will help you get it in four simple steps,

Step 1

Start your Personal loan search by using our simple natural language form. Trust us, it takes only 37 seconds to complete!

Step 2

Your information is then passed through our proprietary eligibility algorithm
to tell you the different banks and NBFCs in Bangalore who can lend to you.

Step 3

After you choose a particular option that seems best to you, we call you and help you with the complete documentation.

Step 4

The bank/partner in Bangalore will then collect all your documents and start processing your loan. We will notify you when your documents are approved and when your personal loan is ready to be sanctioned.