ABL demands easily available business loans. From the variety of business loans in India today, SME Business Loan forms an important part for empowering the business community in India towards greater growth and excellence.

Online Business Loans from ABL was designed to make your everyday business life worry-free, when it comes to financial/capital availability. With ABL, you can now avail loans for small business, as well as business loans for SME (Small and Medium Size Enterprises).

By availing these loans, you can empower yourself financially which in return helps you continue your daily operations, expand your business assets, purchase new plant and machinery, build better infrastructure, meet your supply-demands better and with much less worry. This is how ABL business loans in India is striving towards strengthening the industrial sector of new India.

Features

The maximum term of your home loan can be up to 30 years and it cannot extend beyond your retirement age or 60* years (whichever is earlier).

*60 years for salaried individuals and 70 years for self-employed individuals.

You can get a home loan up to 90% of the cost of a chosen selected property for the loan requirement up to Rs. 30 Lakh*, depending upon the loan amount required.

Your home loan amount depends on your annual income and your ability to repay the loan. You can increase your home loan amount by adding an earning co-applicant.

*For loan above Rs. 30 Lakh, the loan to value applicable will be as per ABL norms & policy guidelines.

Your home loan interest rate starts from 9.75%* p.a. Know more Call to Us about fees and charges (*T&C Apply)

You can pay your home loan EMIs through:

  • Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank
  • Post Dated Cheques (PDCs) – Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available.)

Your home loan makes you eligible for certain tax benefits* as per the prevailing laws. This means that you can save more money by claiming deductions in your income tax, against principal and interest amount repaid.

*As per Income Tax Act 1961 rules, the current applicable exemption under section 24(b) is Rs. 2,00,000/- for the interest amount paid in the financial year and up to Rs. 1,50,000/- (under section 80 C) for the principal amount repaid in the same year.

Documents

ID & Address Proof (Any One Required)

  • PAN card (Mandatory, if income is considered for loan eligibility calculation)
  • Valid Passport
  • Voter ID card
  • Driving license
  • Aadhar Card

Residence Proof (Any One Required)

  • Utility Bill: Electricity, Telephone, Postpaid mobile, water bill etc.
  • Ration card
  • Letter from employer
  • Bank statement /copy of Pass book reflecting address
  • Valid Rent Agreement
  • Sale Deed

*National Housing Bank (NHB) had introduced Know Your Customer (KYC) guidelines for housing finance companies. We request you to co-operate with us in complying with these guidelines.

Salaried Individuals

  • Salary slips for the last 2 months or salary certificate*
  • Cash Salary – Income details on Company Letterhead
  • Copy of bank statements for the past 3 months (salary account)

*If variable components like over time and incentives are reflected, then salary slips for the past 6 months are required.

Self-Employed Professional

  • Certificate of qualification for professionals : CA, Doctors or Architects
  • Copy of last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable.
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account and O/D account)

Self-Employed Non Professionals

  • Copy of your last two years’ income tax returns, along with computation of income
  • Copy of last two years’ P/L account with all schedules and audited balance sheet, wherever applicable
  • VAT or Service Tax returns or TDS Certificate
  • Bank statement for the last 6 months (Savings account, current account or an O/D account)
  • Allotment letter from builder
  • Agreement of Sale
  • Registration and stamp duty receipt
  • Index- ii
  • NOC from builder
  • Own Contribution Receipt (OCR )
  • All builder linked documents (Applicable for cases which are not approved or previously not funded by ABL)
  • Development Agreement
  • Tripartite Agreement
  • Partnership Deed
  • Sale Deed
  • Title Search Report
  • NA order

Note: Original documents are required for verification purpose only

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