Mortgage Loan
Secure financing against property for business needs
About Mortgage Loan
Business financing secured by property
Fingrowth Bank offers Mortgage Loans at competitive interest rates to individuals, businessmen, self-employed persons, and professionals for various business needs by mortgaging immovable property.
This loan facility provides you with substantial funds for business expansion, working capital, equipment purchase, or any other legitimate business purpose. Secure financing against your property with flexible repayment options.
Who Can Borrow?
Business Owners
Individuals and firms engaged in business activities with stable income
Professionals
Doctors, lawyers, CAs, architects with established practice and regular income
Self-Employed Individuals
Income tax payers with documented annual income
Age & Income Criteria
Maximum Age: 60 years at the time of applying
Minimum Income: Net annual income of Rs. 60,000/- or more
Loan Amount & Terms
Based on Income
4X Annual Income
Four times of yearly income or as assessed by Bank
Minimum Amount
Rs. 1 Lakh
Minimum loan amount
Margin
50%
Of market value of mortgaged property
Repayment Period
As per Bank Policy
Flexible tenure based on requirement
Security Requirements
Primary Security
Equitable mortgage of legally acceptable title documents of non-encumbered immovable property including:
Residential Property
House, flat, or apartment in borrower's name
Urban Property
Urban land or developed plots
Commercial Property
Shops, showrooms, or commercial buildings
Industrial Property
Warehouse, factory, or industrial land
Property Criteria
- Property must be in borrower's name
- Property should be non-encumbered (not mortgaged elsewhere)
- Clear title documents required
- Property can be self-occupied or vacant
- Not mortgaged to any other institution/bank
Property Valuation
The value shall be assessed by the approved valuer of the Bank. Maximum loan amount will be 50% of the assessed market value of the property.
Personal Guarantee
Third party personal guarantee of two persons having good credentials, adequate net worth, and satisfactory income
Documents Required
Duly filled application form along with the following documents:
Personal Documents:
- Income Tax Return of last 2-3 years
- PAN Card copy
- Address proof (Aadhaar Card, Voter ID, Passport, etc.)
- Identity proof (PAN, Aadhaar, Passport, Driving License)
- Passport size photographs
Business Documents:
- Business registration documents (Partnership deed, MOA/AOA, etc.)
- GST registration certificate
- Business bank statements (last 6-12 months)
- Business income proof/turnover statements
- Office address proof
Property Documents:
- Original title documents of the property
- Encumbrance certificate
- Property tax receipts
- Approved building plan (if applicable)
- NOC from society/builder (if applicable)
Interest Rate & Disbursement
Interest Rate
As per prevailing rates from time to time. Competitive rates for business customers.
Disbursement
After completion of documentation and property valuation. Can be in single or multiple tranches.
Repayment Options
Flexible repayment options through EMI, PDCs, or as per mutual agreement. Repayment schedule designed considering business cash flow.
Processing Fees & Charges
- Processing fee as per Bank's policy (typically 0.5% to 1% of loan amount)
- After sanction: 1% of loan sanctioned or Rs. 1 lakh (whichever is lower) as share money contribution
- Legal and technical valuation charges to be borne by the borrower
- Property insurance coverage is mandatory
- All fees and charges are one-time and non-refundable
- Stamp duty and registration charges as applicable
Key Features
Higher Loan Amount
Based on property value
Flexible Tenure
As per business requirement
Multiple Use Cases
Working capital, expansion, equipment
Competitive Rates
Business-friendly interest rates
Need Business Financing Against Your Property?
Apply for Mortgage Loan at your nearest branch
Business Loan Products
Quick Eligibility Check
- Annual income Rs. 60,000+
- Age below 60 years
- Own unencumbered property
- Established business/practice
Where to Apply?
Visit any branch in Jaipur, Kishangarh (Ajmer), Palanpur (Gujarat) or contact Head Office.