Deutsche Bank Loan Against Property

Getting a Loan Against Property is the easiest and most reliable way for you to get instant funds without any additional collateral. For property owners, this is a great option to leverage the value of the property that they own in order to fund any personal or business requirements. The property in question becomes the security against the loan and you can get a loan quantum based on the value. The advantage of these loans is that the application process is simpler and the turnaround time for the loan is also much quicker. In case of any emergency, especially, this is one of the best options to avail financing without too much paperwork.

A Loan Against Property is quite similar to a home loan. However, when it comes to a Loan Against Property, there is no restriction on how you make use of the amount that is sanctioned to you. Unlike home loans, where the loan amount can only be used for purchase or construction of a new property, you can use the Loan Against Property for medical requirements, higher education, travel, functions, and even business expenses.

With Deutsche Bank, you have the advantage of banking with one of the most renowned banks in Europe. The bank has been operational in India since 1980 and has been the top choice not only for individuals but also for corporate clients across the country. Deutsche Bank brings several years of experience to the table with every single loan plan and product that it has to offer. Therefore, you can be assured of the most beneficial features and the most affordable loans as well.

With Deutsche Bank, you can get a Loan Against Property in the form of a term loan or as an overdraft facility. The features of the loan are as follows:

• Loan amount: You can avail a loan up to 15 Crores, depending on the value and type of property. For commercial properties, you can avail the maximum loan amount of 5 Crores. Several factors are considered before the final loan amount is sanctioned, like the income of the applicant, age, employment status, the current CIBIL score of the applicant, and so on.
• Repayment tenure: You can opt for a repayment plan that is comfortable for you. Deutsche Bank offers repayment tenure options ranging from 5 years to 15 years.
• Interest rate: Deutsche Bank comes with a default Loan Against Property interest rate of up to 13% per annum.
• Security: The applicant must provide a commercial property or a residential property as primary security against the loan. The bank will be the title holder of the property until the tenure of the property. Even the insurance that is availed for the property must list the bank as the beneficiary to prevent any liability in case of any damage to the property for various reasons.
• Margin: You can get a loan of up to 75% of the value of the property. However, this also depends upon the builder, the type of property, the location of the property and other important factors.

There are several advantages of applying for a Loan Against Property with Deutsche Bank, as mentioned below:

• Loan can be availed against multiple property types, such as:
• Residential properties: It can be a self-occupied or rented out residential property
• Commercial properties: The loan can also be availed against an occupied office premise or a shop.
• Loan amount can be used for the purchase of commercial property, such as a shop or office.
• The bank offers exclusive insurance plans for loan against property that can provide cover for your loan during any unforeseen event in your life. In case of any unfortunate happenings, your family will get the insurance cover, which can be used to pay the outstanding loan.
• The bank offers a higher loan amount.
• There is no restriction on the usage of the loan amount that is sanctioned. You may use it for travel needs, higher education, consolidation of debts, business investments or any other non-speculative purpose.
• The documentation process is simple.
• The turnaround time on these loans is faster to help you get funds for emergencies.
• The application process is transparent and completely hassle-free.

You can also check Commercial Property Loan Online.

Deutsche Bank has separate eligibility criteria for salaried and self-employed individuals, as mentioned below:

Salaried Individuals:

• Minimum age of the applicant must be 23 years
• The maximum age of the applicant is 65 years or the tenure must complete before the applicant's retirement, whichever happens earlier.
• The required gross annual income of the individual is 5,00,000

Self-employed Individuals:

• The minimum age of the applicant is 23 years
• The maximum age of the individual is 65 years
• The required gross annual income of the individual is 5,00,000

Make sure that you fulfill all the eligibility criteria set by the bank before you apply for the loan. That way, the chances of your loan being approved are higher. Any rejection of the loan can lead to a lower CIBIL score. The loan against property eligibility criteria also affect the loan amount and the interest rate that is offered to you.

Properties that are co-owned by minors/ trusts/ HUF are not eligible for Deutsche Bank Loan Against Property.

Deutsche Bank offers Loan Against Property at a default interest rate of up to {{DEUTSCHEBANK_BANK_LAP_INTEREST_RATE}} p.a. To get the exact interest rate that is applicable for you, you can send the SMS PROP to 561615. Representatives of Deutsche Bank will call you with all the necessary details. Alternatively, you can also call 18602666660# for all the details on your loan. You have the option of both fixed interest rates and floating interest rates on these loans.

You can also compare Best Loan Against Property Interest Rates in India

The schedule of charges applicable towards the loan is as follows:

The customer must provide a commercial or residential property as security against the loan. The loan amount depends upon the type of property pledged and the value of this property. This security is provided by depositing the title deed of the property with the bank. In some cases, additional collateral may be required by the bank. You may also have to provide third party guarantee against the loan if needed. The third party must be acceptable to the bank in order to process the loan application.

Submitting the right document is key to getting approval on your loan. The bank provides you with a detailed checklist to make sure that the turnaround time on the loan is faster, helping you when you are in dire need of finances.

Here are the mandatory documents required for loan against property that you need to submit (along with the loan application form and your recent passport-sized photograph) when you are applying for a Loan Against Property with Deutsche Bank:

A Loan Against Property EMI Calculator is a very useful financial tool to help you decide which loan plan suits you the best. This calculator helps you get all the details pertaining to your loan, such as the EMI, the tenure of the loan and a lot more. This tool can be used before you send out the loan application to make sure that it is affordable for you.

Using the Loan Against Property tool is easy. All you have to do is:

• Log on to the official MyMoneyMantra website
• Select the EMI Calculator available under Financial Tools
• Provide details like the loan amount required, tenure of the loan, and rate of interest
• Hit the calculate button
• All the EMI-related details will be displayed on the screen instantly