Mortgage Loans
A mortgage loan is a secured loan used to purchase or refinance real estate, typically a home, where the property serves as collateral and is repaid over a fixed term (e.g., 15-30 years) with interest.
| Loan Slab | Rate Of Interest (% p.a.) |
|---|---|
| Commercial Property | 9.25 – 10.25 |
| Loan Slab | Rate Of Interest (% p.a.) |
|---|---|
| Self Occupied Residential Property | 8.95 – 9.95 |
| Non – Self Occupied Residential Property | 9.25 – 10.25 |
Loan Amount | Salaried Customers, Self-Employed: Priority Sector (PSL) Customers | Self-Employed: Non-PSL Customers |
|---|---|---|
Up to ₹ 50 lakhs | 11.35% – 12.00% | 11.85% – 12.50% |
₹ 50 lakhs to ₹ 100 lakhs | 11.10%-11.75% | 11.60% – 12.25% |
Above ₹ 100 lakhs | 10.85% – 11.50% | 11.35% – 12.00% |
The Mortgage Loan interest rates mentioned above will vary basis parameters such as the Bureau Score (credit score), Customer Profile, Segment etc.
The above rates are linked to the Repo rate
The interest rates mentioned above are valid till 31st Jan, 2025.
Documents Required:
Identity Proof/Address Proof: Aadhaar Card, Passport, Driving License, Voter ID, National Rural Employment Guarantee Act (NREGA) Card, Letter from the National Population Register (NPR) containing details of your Name and Address.
Date Of Birth Proof: Passport, Driving License, Voter ID, NREGA Card, Letter from the NPR containing details of your name and address.
Income Proof: If salaried
Latest Form 16
Latest Six-Months salary slip
Bank statements of the last 6 months.
Income Proof: If self – employed Individuals
Last 6 months Bank statement of all operative accounts.
Last 2 years CA Certified / Audited Income Tax Returns (ITR), Computation of income, Profit and Loss Account Statement and Balance sheet.
GST return of the last 1 year.
Mandatory Documents Required:
1. Proof of Identity.
2. Proof of Residence.
3. Proof of Income.
4. Property Documents.
5. Other Documents.
Disclaimer : This is an indicative list only. Additional documents may be asked for a case-to-case basis.
| Important Factor | Criteria |
|---|---|
| Age | 21 – 65 yrs |
| Profession | Salaried / Self Employed |
| Nationality | Resident Indian |
| Tenure | Up to 15 yrs |
Classification of Self Employed
| Self-Employed Professional | Self Employed Non-Professional (SENP) |
|---|---|
| Doctor, Lawyer, Chartered Accountant, Architect, Consultant, Engineer, Company Secretary etc. | Trader, Commission Agent, Contractor etc. |
Benefits From Vark Fintech’s Mortgage Loan Services
- Offline Branch Support
- Instant Provisional Sanction
- Minimal Documentation
- Fast Service
- 24/7 Customer Support
- Fast Disbursal
Benefits on Mortgage Loan
High Loan Amounts
Flexible Repayment Options
Quick Processing
Attractive Interest Rates
Easy Approval,
Mortgage Loans
Experience fast approvals, minimal documentation, and personalized assistance at every step. Let your property work for you—trust Vark Fintech to make your dreams a reality with unmatched transparency and efficiency.
Frequently Asked Questions...
What is Mortgage Loan ??
Mortgage Loan is a secured loan that financial institutions provide against fully constructed, freehold residential and commercial properties. A mortgage loan can be availed for Personal and Business Needs(other than for speculative purposes) like marriage, medical expenses and child’s education etc. Existing Mortgage Loan from other banks and financial institutions can also be transferred.
Who can avail a Loan Against Property (LAP) ?
Loan Against Property(LAP) can be availed by both salaried and self employed individuals for Personal and Professional needs(other than for speculative purposes) like Marriage, Child’s Education, Business Expansion, Bebt consolidation etc.
What are the documents required for a Mortgage Loan ?
- Proof of Identity.
- Proof of Residence
- Proof of Income.
- Property Documents.
- Other Documents.
