Sundaram Finance Loan Against Property

Sundaram Home Finance Loan Against Property Highlights 2024
Interest Rate (annual percentage rate)	14.90% p.a. onwards
Tenure	Up to 10 years
Loan to Value Ratio	For new customers: Up to 50% of the market value of mortgaged property For existing customers: Up to 60% of the market value of mortgaged property
Processing Fees	Up to 1% of the loan amount plus GST (Rs 5,000 to Rs 10,000 depending on type of loan or borrower profile)

Note: Interest rates as of 11th June 2024

 

Sundaram Home Finance Loan Against Property Interest Rates

The Sundaram Home Finance Loan Against Property interest rates (annual percentage rate) starts from 14.90% p.a. onwards.

Compare Interest Rates on Loan Against Property for Top Banks & HFCs

Name of the Lender	Interest Rate (% p.a.)
State Bank of India	10.00-11.30
Bank of Baroda	10.85-18.60	Apply Now
PNB Housing Finance	9.25-15.00	Apply Now
IDFC First Bank	9.00-16.50	Apply Now
HDFC Bank Limited	9.50-11.00	Apply Now
L&T Housing Finance	9.50 onwards	Apply Now
LIC Housing Finance	9.50-11.55	Apply Now
Godrej Housing Finance	9.75 onwards	Apply Now
ICICI Bank	10.85-12.50	Apply Now
Tata Capital	9.00 onwards	Apply Now
Axis Bank	10.50-10.95	Apply Now
Punjab National Bank	10.40-12.75	Apply Now

Sundaram Home Finance Loan Against Property Fees and Charges

The fees and charges for Loan Against Property levied by Sundaram Home Finance is as follows:

Processing Charges

Particulars	Rates
Processing Fees	Up to 1% of the loan amount plus GST (Rs 5,000 to Rs 10,000 depending on type of loan/borrower profile)

Prepayment Charges

Particulars	Rates
Prepayment Charges	For Individuals: Nil (for both variable interest rates) For Non-Individuals (Applicant/Co-applicant/Guarantor): 2% (for variable interest rates)

Other Charges related to Sundaram Home Finance Loan Against Property

Particulars	Rates
Cheque dishonour charges	Rs 500 plus GST per instrument
CERSAI fee	Rs 100 plus GST for each property
Documentation charges	Kerala: Rs 800 plus GST Rajasthan: Rs 700 plus GST Maharashtra and Gujarat: Rs 600 plus GST Other States: Rs 450 plus GST
Documentation handling charges (when an external agency handles registration)	Tamil Nadu: Rs 1,200 plus GST Telangana and Andhra Pradesh: Rs 1,500 plus GST Karnataka: Rs 1,550 plus GST Odisha, Madhya Pradesh, Rajasthan, Gujarat, West Bengal and Maharashtra: Rs 2,500 plus GST
Charges for defaults/delayed payments	Additional interest rate @24% p.a. Incidental Charges: Levied to cover charges, costs, expenses, etc. in connection with recovery of dues from a defaulter Expenses: As per the actuals
Stamp duty and other charges	Applicable to respective states and charged as per actuals (can vary for each state)

Eligibility Criteria for Sundaram Home Finance Loan Against Property

The Loan Against Property Eligibility Criteria for availing Sundaram Home Finance LAP are as follows:

• Nationality: Indian
• Both salaried and self-employed professionals are eligible
• Age: 18 to 65 years
• Co-owner of the property should also be a co-applicant. Only spouse or other close family members can be co-applicants.

Documents Required for Sundaram Home Finance Loan Against Property

The following documents are required Availing Loan Against Property from Sundaram Home Finance:

Proof of Identity and Address (KYC Documents)

• Driving License
• Aadhaar Card
• Passport
• PAN Card (Mandatory)
• Bank Passbook (with photo)
• Voter ID Card
• Photo Credit Card
• Other Photo ID (subject to company’s satisfaction)

Proof of Income (Salaried)

• Salary slips of last 6 months
• Bank statements of last 6 months, showing salary credits
• Latest IT returns and Form-16

Proof of Income (Self-employed)

• GST Returns of last 12 months
• Bank statements of last 6 months
• IT returns of last 3 years