Loan Against Property
Leverage your property's value for corporate financial needs.
LIC HFL Loan Against Property for Companies
Leverage your property's value for corporate financial needs.
Purpose of the Loan
This loan is designed to provide financial support to companies by mortgaging their residential or commercial property. The funds can be used for various corporate purposes, such as business expansion, debt consolidation, or other financial requirements.
Key Features
- Loan Amount: The loan amount can be substantial, with a minimum of ₹2 lakh and a maximum of up to ₹15 crore, depending on the property value and company's financial profile.
- Tenure: The maximum repayment tenure is up to 15 years.
- Interest Rates: Competitive floating interest rates are offered, which are linked to the LIC HFL Prime Lending Rate (LHPLR).
- No Prepayment Charges: The loan can be prepaid without incurring any additional penalties.
Eligibility
The loan is available to Indian companies, including partnership firms and private limited companies, that meet specific criteria.
- Business Vintage: The company should have a stable business operation with a minimum of 3 years of existence.
- Financial Health: The company must show a consistent track record of profitability.
- Credit Score: A good CIBIL score is crucial for both the company and its directors/partners for favorable terms.
Documents Required
- Company Documents: Memorandum of Association (MOA), Articles of Association (AOA), Certificate of Incorporation, Partnership Deed (if applicable).
- Financials: Audited financial statements (Profit & Loss and Balance Sheet) for the last 3 years.
- Bank Statements: Bank statements for the last 6 months for the business's current account.
- KYC of Directors/Partners: Identity and address proof (PAN Card, Aadhaar Card, Passport) of all directors or partners.
- Property Documents: Title deeds, approved building plans, and other relevant legal documents of the property being mortgaged.
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