Service Details

If you own property, you already have a valuable asset at your disposal. Property Loans, also known as Loan Against Property (LAP), allow you to leverage the value of your residential or commercial property to access substantial funds. Whether you need money for business expansion, debt consolidation, or a personal financial emergency, a Property Loan from Clear Credit can provide the liquidity you need without selling your asset.

Clear Credit offers competitive interest rates, high loan amounts, and flexible repayment terms, making it easier for you to unlock the power of your property. Our Property Loans are available for both residential and commercial properties, offering a quick and efficient way to finance large expenses.

Why Choose Clear Credit for Property Loans?

• High Loan Amounts: We offer loans up to 70% of the market value of your property, providing access to substantial funds.
• Competitive Interest Rates: Property loans come with lower interest rates compared to unsecured loans, making them an affordable financing option.
• Flexible Repayment Tenures: Choose a repayment tenure of up to 15 years, allowing you to spread the cost over a period that suits your financial situation.
• Quick Processing: Our property loans are processed quickly, ensuring you get the funds without delay.
• Multiple Property Types: You can avail of a loan against both residential and commercial properties.

How Property Loans Work

1. Application: Submit an application online or at a Clear Credit branch with your property details and financial documents.
2. Property Valuation: Clear Credit assesses the market value of your property.
3. Loan Offer: We offer you a loan amount based on the property’s valuation and your financial profile.
4. Loan Approval & Disbursement: Once approved, the loan amount is disbursed directly to your account.
5. Repayment: Repay the loan in easy EMIs over a flexible tenure, ranging from 5 to 15 years.

Eligibility Criteria for Property Loans

To qualify for a Property Loan, you need to meet the following criteria:

• Ownership of Property: The property must be in your name, and you must have clear legal title to it.
• Income Proof: You need to provide proof of a stable income to demonstrate your repayment capacity.
• Credit Score: A good credit score improves your chances of approval and securing a lower interest rate.

Documents Required for Property Loans

• Identity Proof: Aadhar card, PAN card, passport, or voter ID.
• Address Proof: Utility bills, rent agreements, or any government-issued documents.
• Property Documents: Sale deed, title deed, or any document proving ownership of the property.
• Income Proof: Salary slips, bank statements, income tax returns, or profit & loss statements (for self-employed individuals).
• Photographs: Passport-sized photographs.

Interest Rates and Fees

Clear Credit offers property loans at competitive interest rates, ensuring you can access funds without a high-interest burden:

• Interest Rate: Starting from 9% per annum, depending on the loan amount and tenure.
• Processing Fees: Typically 1% to 2% of the loan amount.
• Prepayment Charges: Clear Credit allows prepayment with minimal charges, helping you save on interest.

Benefits of Property Loans

1. High Loan Amounts: Borrow up to 70% of your property’s market value, giving you access to significant funds for large expenses.
2. Low Interest Rates: Property loans come with lower interest rates than unsecured loans, making them a cost-effective financing option.
3. Flexible Tenures: Choose a repayment tenure of up to 15 years, making it easier to manage monthly payments.
4. Retain Ownership: Unlike selling your property, a loan against property allows you to retain ownership while still unlocking its value.
5. Multiple Use Cases: Use the loan for business needs, personal expenses, debt consolidation, or even funding a child’s education.

Use Cases for Property Loans

• Business Expansion: Use the loan to finance business growth, purchase new equipment, or expand your operations.
• Debt Consolidation: Consolidate high-interest debts into one affordable loan with lower interest rates.
• Personal Expenses: Use the funds for personal expenses such as medical emergencies, weddings, or vacations.
• Educational Needs: Fund your child’s higher education, covering tuition fees, accommodation, and other expenses.

How to Apply for a Property Loan

1. Submit an Application: Apply online or visit a Clear Credit branch with your property and financial details.
2. Property Valuation: Clear Credit assesses the market value of your property to determine the loan amount.
3. Loan Approval: Once approved, receive a loan offer detailing the loan amount, interest rate, and repayment tenure.
4. Disbursement: The loan amount is disbursed to your account.
5. Repayment: Repay the loan through EMIs over a tenure that suits your financial situation.