Loans
Non Agricultural Medium Term Loan (NAMT)
This Loan (also called a Loan against Property) is a secured loan where you pledge residential, commercial, or industrial property as collateral. The loan amount is a percentage of the property's market value, and you can use the funds for multiple purposes.
Key Features & Benefits:
High Loan Amounts -Up to 60–75% of property value
Lower Interest Rates - Compared to personal loans
Longer Repayment Tenure - Up to 10 years
Continue Using the Property -Ownership and use stay with you
Flexible Use of Funds - No restriction on end use (except for speculative purposes)
Eligible Properties:
Residential (self-occupied or rented)
Commercial (offices, shops, etc.)
Industrial buildings (case-by-case basis)
Leasehold properties with clear document
Loan Features:
| Feature | Details |
|---|---|
| Loan Amount | Maximum 35 lakhs (depending on property) |
| Tenure | Tenure Up to 10 years |
| Interest Rate | Starting from 12.5% p.a. |
| Loan-to-Value (LTV) | Loan-to-Value (LTV) Up to 60%–70% of property value |
| Processing Fee | Processing Fee 0.5% – 1% of the loan amount |
| Prepayment Option | Available with/without charges |
Required Documents:
Personal Documents:
-
ID and address proof
-
PAN card
-
Income proof (salary slips, ITRs, bank statements)
Property Documents:
-
Registered title deed
-
Approved building plan
-
Tax receipts or utility bills
-
Encumbrance certificate
Eligibility Criteria:
Clear title and ownership of property
Age: 21–65 years
Good credit history
Stable income source to repay EMIs
Property located in bank-approved areas