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Loan Against Property Balance Transfer Top-up for Self-employed for Business Expansion

Expansion is vital for self-employed people. Maintaining a profitable business daily can be costly. Hiring more employees during your growth means paying even more employee salaries. This could cost several lakh rupees per month. To keep your firm running, you'll need a lot of cash each month to cover office space, merchandise, and other expenses. Refinance your loan against property with us and benefit from a top-up loan.

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Expanding Office Space

EXPANDING OFFICE SPACE

You may need to expand your workplace depending on how many new staff members you hire. It will cost a substantial amount to either move to a bigger office or buy a neighbouring place.

Set-up New Warehouses

SET-UP NEW WAREHOUSES

You'll probably need extra warehouses to house your inventory when your business grows. The cost of purchasing a location for new warehouses is high. In that situation, a top-up on your Home Loan Balance Transfer will be helpful.

Modern Equipment

MODERN EQUIPMENT

New machinery is one of the biggest corporate growth expenses. More employees and machinery are needed to boost production. These can cost you tens of lakhs per month.

Productivity Tools

PRODUCTIVITY TOOLS

Give your employees the tools they need to succeed. To enhance efficiency, buy cutting-edge machinery, train workers, and buy a programme that tracks organisational goals.

R&D Investment

R&D INVESTMENT

Invest in R&D to analyse your product and improve it for customers. R&D sometimes demands expensive equipment and staff. A Loan Against Property with no end-use restrictions will help you cover these expenses.

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Frequently asked questions

Why should I choose a loan against property balance transfer?

It is recommended that you choose a loan against property balance transfer when your present loan against property lending terms are no longer feasible for you. Transferring your loan against property balance to a different lender may entitle you to competitive interest rates, longer repayment tenure, and a top-up loan.

Who can apply for a loan against property balance transfer?

Anyone with an existing loan against property can apply for a balance transfer with us. Your age, employment status, and city of residence are some of the key criteria for applying for the loan.

Is a self-employed individual eligible for a loan against property?

A self-employed Indian citizen residing in India, between the age group of 25 years* to 85 years* is eligible for the loan. Additionally, you should have a business continuity of over 5 years in the current business.

*Terms and conditions apply

What is the maximum repayment tenure for a loan against property?

You can repay the total sum borrowed over a convenient repayment tenure of up to 15 years*.

What kind of documents are required for loan against property balance transfer?

If you are planning to apply for a loan against property balance transfer, you must be ready with some basic paperwork. A self-employed applicant should have their KYC documents, proof of income (P&L statement), property documents like title deeds, proof of business, and account statements for the past 6 months, etc. handy.

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