- What are the minimum and maximum amounts of Loan against Assets that I can get?
- What happens if I miss an EMI payment or there is an ECS bounce?
- What are the common and the must submit documents?
- Pre Closure vs part- prepayment?
At Axis Bank, you can get a Loan against Assets from Rs. 2 lakhs to Rs. 500 lakhs. Some of the factors we study when deciding a loan amount are:
• Your requirement and eligibility
• The property’s registration
• The property’s market value
• Your income and repayment capacity
The bank will levy certain ECS bounce charges/penalties. In addition it will get reported in your credit report. Depending on the severity of the default it can have serious impact on your future credit possibilities like a home loan, car loan etc. In addition, the banks can also take legal action against the borrower.
• Complete loan application form with one passport size photograph
• Valid Proof of Applicant’s Identity: Passport, PAN card, Voter identity card , Driving license
• Proof of Residence: Ration card Tel/ Electricity Bill/ Lease agreement/ Trade license /Passport /Sales Tax certificate
• Proof of Age: Passport, PAN card, Voter identity card
• Financial Documents
Pre closure means that a customer wants to close the entire principal outstanding amount at one go. Whereas part payment means that a customer wants to repay only a certain portion of the outstanding amount. Please ask our advisor for more details on this when your loan is being processed.
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