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Q: I already have a Loan against Property
running. Can I transfer it to GE Money?
A: Yes, it is possible to transfer an
existing loan from any other bank/housing finance
company to GE Money at attractive rates.
Q: How does GE Money determine my
eligibility for a loan and the loan amount?
A: GE Money takes into account the
following factors:
- Your Income
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Co-applicant's income (if considered)
- Financial
documents- Property valuation
- Number of
dependants- Liabilities
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Stability/Continuity of employment/Business
Q: What is the maximum amount I can get
as Loan Against Property from GE Money?
A: For your varying needs, GE Money offers Loan against Property to a maximum of Rs. 2 Crore subject to the Company’s policies from time to time.
Q: What is the rate of interest on GE
Money Loan Against Property?
A: GE Money’s Loan against Property is available only at a floating rate of interest, linked to GE Money Financial Services Floating Reference Rate (GEMFSFRR), which is published on the Website from time to time.
Q: Can I take a loan tenor of
20 years?
A: GE Money provides Loan Against Property
for a maximum tenor of up to 15 years.However it is subject to maximum age of 70 years for self-employed and retirement age for salaried at the maturity of loan.
Q: What are the modes of re-payment?
A: Repayment of loan will be through Electronic Clearing Services (ECS)/ Electronic Debit from customer’s bank account.
Q: What documents do I need to submit as
security against the loan?
A: The title documents of the property need to be submitted. The property should have a clear title; should be marketable and free from encumbrance, as per the Company’s policies. There should not be any litigation, additional charge or loan on the property.
Q: What are the conditions for Part-payment / Pre-payment of the loan?
A: For details in this regard please refer to the applicable Tariff Schedule (Part of Fair Practice Code for GE Money Financial Services Pvt. Ltd.)
Q: Will I be required to pay a
processing fee to apply for a GE Money Loan Against
Property?
A: Yes, there is a processing fee as defined in tariff schedule of the Company.
Q: What documents do I need to submit to apply for Loan Against Property from GE Money?
A: GE Money offers you flexibility and options in terms of documents required. Refer documents Required Section.
Q: Do I need to insure my property before applying for a GE Money Loan against Property?
A: Yes, insurance of the property against fire, flood, riots, earthquakes and other appropriate hazards is necessary during the tenure of the loan.
Q: How long does it take to get my loan processed?
A: After receiving complete set of documents, the loan proposal is processed within 15 days.
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