Loan against Property (Overdraft)
Overview
Features
Self Employed Professionals(Merchants, Small & Medium Scale Manufacturers, Service Providers, etc.)
Self Employed Non Professionals(including Proprietor, Partnership Firm and closely held limited/ private limited company but excluding HUFs, Trusts, AOPs and NGOs).
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If the applicant is not existing Home Loan /Loan Against Property customer
Nature of the property: LTV
Residential : 70%
Non - residential : 60%
If the applicant is an existing Home Loan /Loan Against Property customer
Nature of the property: LTV
Residential : 75%
Non - residential : 65%
*Subjected to repayment capacity of the individual as assessed by IDBI Bank Ltd.
Processing Fees Please refer to Schedule of Charges of Retail Assets.
Documentation
Security
- Primary : First Charge on the mortgaged property by way of equitable mortgage against which IDBI Bank has advanced the loan.
- Collateral : Liquid Collaterals as required by The Bank selectively in the form of Pledge/Hypothecation and Assignment depending upon individual cases.