Loans Against Property
ICICI Bank Loans Against Property provide not just the most competitive interest rates & best level of service, but also products designed to cater to the specific needs of consumer. New products / New features in existing products are introduced based on customer feedback. Choose the ICICI Bank Loan Against Property that suits your needs.
Loan Against Property
Loan against property gives the owner of residential or commercial premises to leverage on the value of the property. It offers the ability to unlock funds gives the advantage of looking at the asset as a source of security bringing liquidity and retaining ownership. In case of Loan Against Property the property should be self occupied by one of income considered applicants. The security of the property ensures competitive rate of interest . The interest component of the EMI paid by Self Employed customers can be booked as expenses in their P & L
Loans Against Property are provided for many personal requirements of the customer viz.
- Marriage
- Child Education
- Business
- Purchase of Property (Where mortgage is not possible)
- Improvement of Property
- Medical Treatment
Loans Against Property can be availed by Resident Indian who are Salaried or Self-Employed and also by Non- Resident Indian who are Salaried
Property Overdraft
The Property Overdraft from ICICI Bank allows you to borrow money against your self occupied property. The overdraft facility comes with a multi-city cheque book and phone banking facility. The customer is charged interest only for the amount that he withdraws from the account. Whenever he deposits funds into the account, they go towards reducing the outstanding balance in the account.
It offers the following benefits:-
- Generating capital against Residential or Commercial property for business or personal use
- Convenience of Pre - Sanctioned limit and draw as you need
- Pay interest on the amount drawn and for days utilized
- Convenience of depositing & withdrawing like any Current Account
- Benefit of Cheque Book & Phone banking
- Fast Processing and door-step service
- Multi-city cheque book and phone banking facility
Property Overdraft can be availed by Resident Indian who are Self-Employed.
Lease Rental Discounting (LRD)
Lease Rental Discounting (LRD) helps to raise funds against the future expected rentals of self owned commercial property. The property should be occupied by the Lessee. Similar to Loan Against Property, LRD can be provided for any personal requirements of the customer viz. –
- Marriage
- Child Education
- Business
- Purchase of Property (Where mortgage is not possible)
- Improvement of Property
- Medical Treatment
Lease Rental Discounting (LRD) can be availed by Resident Indian whether Salaried or Self-Employed
Home Equity Loan - Plot
Home Equity Loan-Plot is offered against Residential Plot within the Municipal Limits / Development Authority having distinct plot number. The plot should be clearly demarcated and physically identifiable plot (should have boundary wall / barbed wire fencing). Minimum Plot size should be 800 sq.ft. and maximum plot size should be 10,000 sq.ft. The loan is currently offered in select locations only.
The proceeds of the loan can be utilized for funding education, business, marriage, purchase, improvement of property, medical treatment and other personal needs of the borrower.
It can be availed by Resident Indian whether Salaried or Self Employed
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