Vastu Housing Finance Loan Against Property

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You can seamlessly apply for Vastu Housing Finance loan against property using the hassle free Vastu Housing Finance loan against property online application system. You can get a loan for business or personal requirements against residential or commercial properties. You can raise funding for taking care of your working capital requirements and also for purposes like the higher education and weddings of children. You can get a maximum amount of Rs. 50 lakh with a maximum tenure up to 180 months. Loans are offered up to 60% of the market value of the property for residential properties while they are given up to 50% of the market value of the property for commercial properties. The lender goes through an extensive evaluation of the property which encompasses technical and legal appraisals for understanding maintenance, marketability, property age, construction level, construction quality and also other clearances.

Apply for Loan Against Property(LAP)

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Vastu Housing Finance LAP

  • Interest Rate

    17.5% - 23.5%

  • Loan Amount

    Up to ₹50L

  • EMI Per Lakh

    ₹2,512 - ₹2,848

  • Processing Fees

    Upto 3% of Loan Amount plus applicable taxes and/ or other statutory levies
  • Pre-Payment Charges

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Features & Benefits of Vastu Housing Finance Loan Against Property

Vastu Housing Finance offers a range of appealing features and benefits regarding its Loan Against Property (LAP) offerings. These features are designed to provide borrowers with convenience, flexibility, and the opportunity to fulfil their financial aspirations. Here are the key features and benefits of Vastu Housing Finance Loan Against Property:

  • Maximum Loan Amount of 1 Crore: With Vastu Housing Finance, you can avail of a LAP with a maximum loan amount of up to 1 Crore. This allows you to access substantial funds based on the value of your property, enabling you to meet significant financial goals.
  • Interest Rates Made for You: Vastu Housing Finance offers interest rates tailored to your specific needs. The interest rates are designed to be competitive and affordable, ensuring you can manage your loan repayments comfortably.
  • Speedy Sanctions and Disbursal: Vastu Housing Finance understands the importance of timely access to funds. They aim to provide speedy sanctions and disbursals, ensuring that you can address your financial requirements promptly and efficiently.
  • Longer Tenure of up to 20 years: Vastu Housing Finance offers a longer repayment tenure of up to 20 years for their LAPs. This extended tenure allows you to repay the loan over a comfortable period, reducing the burden on your monthly finances.

Vastu Housing Finance Loan Against Property Overview

A Loan Against Property allows you to tap into the value of your property and access funds for various financial needs. With Vastu Housing Finance's customer-centric approach and commitment to providing hassle-free financial services, you can confidently explore the possibilities offered by your property.

Vastu Housing Finance is a trusted financial institution renowned for its competitive interest rates, flexible loan options, and customer-centric approach. They understand the significance of property as a valuable asset and offer tailored LAP solutions to meet the diverse needs of individuals.

Whether you are a self-employed professional looking to expand your business or a salaried individual seeking to consolidate debts or cover educational expenses, Vastu Housing Finance has you covered.

By choosing Vastu Housing Finance for your Loan Against Property needs, you can leverage the market value of your property to achieve significant financial goals. The process is straightforward, starting with a seamless application that ensures you receive quick approval. The efficient disbursal of funds allows you to address your financial requirements promptly.

Documents Required for Vastu Housing Finance Loan Against Property

Vastu Housing Finance aims to streamline the documentation process for their Loan Against Property (LAP) offerings, ensuring minimal paperwork while adhering to regulatory requirements. Here are the key documents typically required to apply for a LAP:

  • Application Form: You will need to fill out an application form provided by Vastu Housing Finance. This form captures essential details about your personal and financial information.
  • Identification Documents: Copies of your identification documents, such as an Aadhaar card, PAN card, passport, or driver's licence, are required for verification purposes. These documents establish your identity and are crucial in the loan application process.
  • Address Proof: Proof of your residential address is necessary and can be established through documents like utility bills (electricity, water, gas), rent agreements, or bank statements displaying your address.
  • Income Documents: Vastu Housing Finance will require proof of your income to assess your repayment capacity. This may include salary slips, bank statements, income tax returns (ITR), Form 16, or other relevant income documents depending on your employment type (salaried/self-employed).
  • Bank Statements: Providing bank statements for the specified period helps Vastu Housing Finance evaluate your financial history, income stability, and transaction patterns. These statements typically cover the last 6 months to 1 year.
  • Property Documents: Documents related to the property being offered as collateral for the LAP are required. This includes property ownership proof, title deed, sale agreement, tax receipts, and any other relevant property documents.

How does the EMI calculation work for Vastu Housing Finance Loan Against Property?

Calculating Equated Monthly Instalments (EMIs) is essential for understanding the repayment schedule and managing your finances effectively. Vastu Housing Finance provides a straightforward method to calculate EMIs for their Loan Against Property (LAP).

Here's how it works:

  • Loan Amount: Determine the loan amount you wish to borrow from Vastu Housing Finance for your LAP.
  • Interest Rate: Know the applicable interest rate provided by Vastu Housing Finance for your Loan Against Property. This rate determines the cost of borrowing.
  • Loan Tenure: Decide on the repayment tenure for your LAP. Vastu Housing Finance offers longer tenures of up to 20 years, allowing you to choose a duration that suits your financial preferences.

Once you have these details, you can calculate your EMI using the following formula:

EMI = [P x R x (1+R)^N] / [(1+R)^N-1]

Where,

  • EMI = Equated Monthly Instalment 
  • P = Loan Amount 
  • R = Monthly Interest Rate (Annual Interest Rate divided by 12) 
  • N = Number of Monthly Instalments (Loan Tenure in months)

Alternatively, you can use online EMI calculators or Vastu Housing Finance's EMI calculator 

tool, available on their website. Simply input the loan amount, interest rate, and tenure to obtain the EMI amount.

Remember that the EMI consists of both principal and interest components. As you repay your LAP, the principal portion gradually increases while the interest portion decreases over time.

Vastu Housing Finance Loan Against Property Customer Care Number

Vastu Housing Finance understands the importance of providing excellent customer service and assistance throughout your Loan Against Property journey. If you have any queries, or concerns or require support, you can reach out to their dedicated customer care team through the following contact details:

Customer Care Number: You can call Vastu Housing Finance's customer care number at 1800 22 0001. Their representatives will be available to assist you from Monday to Friday, between 10.00 am and 6.00 pm.

Email: Alternatively, you can send an email to customercare@vastuhfc.com. 

Registered Head Office Address: If you prefer to reach out via mail or visit their head office in person, here is the address: 

Vastu Housing Finance Corporation Limited, Unit 203 & 204, 2nd Floor, A Wing, Navbharat Estate, Zakaria Bunder Road, Sewri (West), Mumbai – 400015.

FAQs

From refinancing to reducing your interest, we have the answers right here.

Does Vastu Housing Finance have a fixed rate of interest on a loan against property?

No, Vastu Housing Finance does not have a fixed rate of interest on a loan against property. The interest rate is floating and is linked to the MCLR (Marginal Cost of Funds based Lending Rate) of the bank. This means that the interest rate can go up or down depending on the movement of the MCLR.

How to check loan against property status in Vastu Housing Finance?

You can check the status of your loan against property in Vastu Housing Finance by logging into your account on the Vastu Housing Finance website or by calling the customer care number. You will need to provide your loan number and your PAN number to check the status of your loan.

Does Vastu Housing Finance check for CIBIL score for loan against property?

Yes, Vastu Housing Finance does check for CIBIL score for loan against property. Your CIBIL score is a measure of your credit history and is used by banks and NBFCs to assess your creditworthiness. A good CIBIL score will help you get a loan at a lower interest rate.

What is the maximum and minimum loan against property amount I can get from Vastu Housing Finance?

The maximum loan amount you can get from Vastu Housing Finance depends on the value of your property and your CIBIL score. The minimum loan amount is Rs. 50,000, and the maximum loan amount is Rs 1 crore.

What are the KYC documents I will have to submit to apply for a loan against property from Vastu Housing Finance?

The KYC documents you will need to submit to apply for a loan against property from Vastu Housing Finance are:

  • Proof of identity (such as PAN card, Aadhaar card, or passport)
  • Proof of residence (such as electricity bill, water bill, or bank statement)
  • Property documents (such as title deed, sale deed, or encumbrance certificate)

What is the processing fee on the Vastu Housing Finance loan against property?

The Vastu Housing Finance loan processing fee against the property is Rs. 5,000. This fee is non-refundable and is payable when applying for the loan.

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