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Putting your hard earned money in real estate is a high yielding investment which will stay vibrant for years to come. If you’ve long term financial goals, buying a property is worth its salt. With rapid economic growth and urbanization, it makes sense to buy a plot in an upcoming area of the suburb and wait for the massive monetary growth it can add to your portfolio. You may even buy a plot with a view to build a structure on it at a later time.
Whatever the purpose may be, buying a plot can be a daunting task, especially on the financial front. It makes sense to fund it by means of a loan which gives you freedom to own a land by way of repayment of the borrowed amount in installments. Sundaram Finance Group offers you loans for purchase of plots at attractive rates and pleasing benefits. Sold exclusively as Land Loans by Sundaram BNP Paribas Home Finance Limited, this product is available for purchasing land across India.
High cap on loan amount:
The applicant can avail up to 75% of the land cost as a loan under this scheme. NRIs can look forward to a loan amount of up to 1 crore. With such high quantum on the offer, your dream of owning a plot only gets closer.
Maximum loan repayment term:
Sundaram finance offers a maximum term of 10 years to repay the borrowed amount for the salaried class and NRIs. For self employed borrowers, the term offered is the same, up to the age of 65 years.
No external security required:
The plot purchased itself acts as a collateral until full repayment of the loan. Sundaram finance does not require a guarantor or other financial instruments to secure the loan amount, making it an easy to avail loan without any hassles.
Minimal processing fee:
The processing fee component is fixed at 1% of the loan amount with no other hidden charges in this area. All other fees involved are communicated upfront, making it a transparent deal.
|Quantum of loan amount||Upto 75% of the land cost, subjection to valuation of the property|
The plot itself acts as a collateral and therefore, they do not require an external security such as a guarantor or security in any other form.
Yes, you can be eligible to apply for and avail a loan under the Land Loan scheme from Sundaram Finance.
The approved loan amount is disbursed after payment of your contribution in full. Other conditions such as completion of legal formalities & technical appraisal of the project should also be completed.