You can avail a loan amount of up to 70% of the market value of residential property or up to 65% of the market value of commercial property. This percentage can vary based on the specific details of your property and your financial profile. For precise information, consult with our business representatives to understand your loan eligibility. 

A loan against property can be availed for various business purposes, such as business expansion, working capital, capital equipment purchase, property loan, balance transfer of existing secured/unsecured loans, and more. If you have specific uses in mind, our team can guide you on how to best utilise this loan product, ensuring you achieve your business objectives effectively. 

The loan against property can be availed for a maximum tenure of up to 15 years. You have the flexibility to repay the loan before the due date, with early repayment options available. This flexibility can help manage finances more effectively and potentially save on interest costs. For details on prepayment charges, if any, please consult with our business team.

The loan amount will be disbursed directly to your operating bank account following approval from the lender. The approval process includes thorough verification of the KYCs, Banking, Income & Property documents. Our business team can provide a detailed timeline and explain each step of the disbursement process for your loan against property.

Eligible properties for a secured business loan typically include residential, commercial, and industrial properties. Residential properties may include houses, apartments, or other dwellings. Commercial properties include office buildings, retail stores, and other business spaces, while industrial properties cover factories. Each property type is evaluated based on its market value, condition, and location, ensuring they meet the lender's criteria. Properties with clear titles and no existing encumbrances are considered for loan approval.

When applying for a Loan against Property, several documents are required to verify eligibility and the property's value. These include proof of identity, address and income. Additionally, property-related documents such as the title deed, no objection certificate (NOC), and property tax receipts are needed. Ensuring you have these documents ready can expedite the process of securing a loan against property or a mortgage loan.

The value of the property used as collateral for a Loan against Property is determined through a professional appraisal. A certified valuer inspects the property, assessing factors such as location, size, condition, and market trends. Comparisons with similar properties in the area provide a fair market value.

Interest rates on secured business loans are generally lower than on unsecured loans. Rates vary based on the borrower's creditworthiness and market conditions. Additional fees may include processing fees, legal & valuation fees for document verification etc. At Arka, we do not have any hidden charges. All the charges and fees are clearly documented in the loan documentation.