At KFS FinCorp, we understand that your property holds significant value, and we're here to help you leverage it to meet your financial needs. To qualify for our loan against property offerings, we have established the following eligibility criteria:
You must be the legal owner of the property against which you are seeking the loan. The property can be residential, commercial, or industrial, and it should be free from any legal disputes or encumbrances.
The value of the property will be assessed by our authorized valuers to determine its market worth. The loan amount you are eligible for will depend on the valuation of the property.
While a stable source of income is not always mandatory for a loan against property, lenders may consider your income to assess your repayment capacity. Self-employed individuals may need to provide income tax returns, audited financial statements, or other financial documents.
Your credit history plays a crucial role in determining your eligibility for a loan against property. A good credit score demonstrates your creditworthiness and repayment capability, increasing your chances of approval.
The maximum loan amount you can receive is typically a percentage of the property's market value, known as the loan-to-value ratio. LTV ratios may vary depending on factors such as the type of property, loan tenure, and lender's policies.
The primary applicant should meet the minimum age requirement set by the lender, usually starting from 21 years old. The maximum age at the time of loan maturity may also be considered.
You will need to provide various documents related to the property, such as property title deeds, property tax receipts, approved building plans, and identity/address proofs of the property owner(s). Additionally, income documents and KYC (Know Your Customer) documents may be required.
: The loan against property can be used for various purposes, including business expansion, debt consolidation, education expenses, medical emergencies, or any other legitimate financial need.
To determine your eligibility for a loan against property from KFS FinCorp, you can:
Visit our website and use our online eligibility checker.
Contact our customer service team for personalized assistance and guidance.
Visit our nearest branch to speak with our loan officers and discuss your eligibility requirements in detail.
At KFS FinCorp, we are committed to providing flexible and convenient financing solutions tailored to your needs. Let us help you unlock the value of your property and achieve your financial goals.