ASV Adarsh Complex, 719, Pathari Road, off Mount road
Near Thousands Light Metro station,Behind Raj video vision, Anna
Salai,
Chennai 600002
Level 2
If the resolution provided at Level 1 does not meet your expectation,
you can approach our Customer Service Head through any of our access channels mentioned
below.
Any issues relating to services provided by
the outsourcing agency with regard to customer interaction can be escalated to
Customer Service Head.
* Applicable when level wise escalation is followed
Level 3
If the resolution provided at Level 2 does not meet your expectation,
you
can approach the Grievance Redressal Officer through any of our access channels
mentioned
below.
* Applicable when level wise escalation is followed
Level 4
If the customer's query or complaint is not resolved within a period of 30 days from date
of complaint the customer may also approach the RBI Ombudsman / Regional Office of Dept. of
Supervision – RBI
Contact Ombudsman:
To Know more about the Ombudsman Scheme Click Here
Officer-in-Charge
Department of Supervision
Regional Office - Chennai
Reserve Bank of India
Fort Glacis, No.16, Rajaji Salai
Chennai 600 001
Tel: 044- 2539 9189
* Applicable when level wise escalation is followed
ASV Adarsh Complex, 719, Pathari Road, off Mount road, Near Thousands
Light Metro station, Behind Raj video vision, Anna Salai, Chennai 600002.
Email
ID
:
customercare@chola.murugappa.com
Call Us
Name of Grievance Redressal Officer
:
Mr. Krishnakumar K.P,
Vice President - Operations
Tel No :
044 -
40906097
Write Us
Name of Grievance Redressal Officer
:
Mr. Krishnakumar K.P,
Vice President - Operations
Address :
ASV Adarsh Complex, 719, Pathari Road, off Mount road, Near Thousands
Light Metro station, Behind Raj video vision, Anna Salai, Chennai 600002.
Email ID
:
gro@chola1.murugappa.com
Knowing the entire loan application process and eligibility criteria will help you to ensure a stress-free loan application process. Make sure that you fill out the loan application form and add all mandatory details. Follow the above instructions to enter a better life with Chola Loan Against Property. Visit www.cholamandalam.com/get-loan-against-property for more information.
Disclaimer: The above information furnished is generic in nature and can be considered for informational purposes only. The interest rates, if mentioned in the article, can be volatile and subject to change. Please feel free to contact us for exact information on our products.
With Chola as your loan partner, you can experience ultimate comfort in your loan process. Business owners can avail loans up to ₹ 7.5 crore based on the value of the mortaged property and other credit norms. Part payment and prepayment facilities make your mortgage loan more flexible. Chola Loan Against Property comes with floating rate of interest with a longer tenure of up to 15 years.
Blindsiding the fine print
Every financier will have a set of terms and conditions that is written in fine print and hand over to us to READ and sign. One major mistake many of us commonly commit is not to read those fine lines. These terms and conditions will contain all the hidden charges, potential costs and material facts. Reading these terms can help us to make a better decision and enhance our ability to negotiate with the lender.
Ignoring the required prerequisites
While applying for loan against property, one should ensure that they have all the required set of documents which includes property documents, address proof and ID proof, income related documents are kept handy. Availability of these documents will help in quicker and hassle-free loan processing process.
Planning of repayment.
It is easy to avail of a loan but it takes efforts to repay the same on time. Timely payment of our EMIs is the key which not only ensures to be in a good book with the lender but also marks our credibility which will eventually help in maintaining good credit score and more provide more opportunity to borrow funds and borrow at lower rate of interest One should be mindful of the repayment and always choose the loan amount based on the convenient EMI to repay. This ensures smooth repayment of the loan
Skipping loan insurance
Never skip on the loan insurance. In case of uncertainties, without a loan insurance, we pass the burden of repayment of loan to our family and there is also a possibility of losing the asset due to non-payment of the loan. A loan insurance will turn out to be a saviorsaviour to our family during these times.
Why should you choose Chola for your mortgage loan?
Disclaimer: The above information furnished is generic in nature and can be considered for informational purposes only. The interest rates, if mentioned in the article, can be volatile and subject to change. Please feel free to contact us for exact information on our products.
With Chola as your loan partner, you can experience ultimate comfort in your loan process. Business owners can avail loans up to ₹ 7.5 crore based on the value of the mortaged property and other credit norms. Part payment and prepayment facilities make your mortgage loan more flexible. Chola Loan Against Property comes with floating rate of interest with a longer tenure of up to 15 years.
Let’s Wrap Things Up
Property mortgage loans provide a pathway to growth in business. Mortgage loans offer numerous benefits for aspirants who are looking for an opportunity with ultimate affordability to raise capital to invest in their business. The reasons to choose a mortgage loan are compelling. Mortgage loans provide investment potential, tax benefits and credit-building opportunities to business owners and self-employed. Before embarking on a mortgage loan journey, it is important to conduct thorough research on the loan terms. Also, customers should seek professional advice to ensure that they choose a mortgage loan scheme that aligns with their financial goals. With careful consideration, a property mortgage loan can be an excellent tool to achieve your business dreams. Loan against property customers should choose a loan scheme with flexible repayment options to make sure that the loan scheme is suitable for their income level for long term affordability. This is to ensure that proper payments of Equated Monthly Instalment (EMI) are made on time without defaulting. Mortgage loans enable a better business growth for customers with a working plan for business development.
Disclaimer: The above information furnished are generic in nature and can be considered for informational purposes only. The interest rates, if mentioned in the article, can be volatile and subject to change. Please feel free to contact us for exact information on our products.
Competitive Interest Rate
Since a loan against Property is a secured loan, the bank or NBFC can easily recover a loan due to the collateral provided. The presence of collateral adds to the ease of recovering the loan compared to an unsecured loan. This results in a competitive interest rate because of the lender’s reduced risk.
Tax Benefits
The final use of the loan determines the tax benefits associated with borrowing against property. If the money is used for business expenditures, you are eligible for a tax deduction on the LAP under section 37(1) of the ITA. Section 37(1) allows you to deduct the interest and other fees of the loan against property from your taxes, provided that the loan amount is used to finance business operations, excluding capital expenditures and personal expenses.
Longer Tenure, Lower EMI
Longer tenure of Loan Against Property makes it possible to enable lower EMIs making it convenient to repay the loan.
Easy to Avail
The presence of collateral makes it easier to avail of a Loan Against Property. Because of the low risk involved, banks and NBFCs are willing to provide Loan Against Property to their customers.
Easy Documentation & Approval
The documentation and approval procedure for a loan secured by the property is usually easy and allows lenders to move forward with a straightforward loan documentation procedure.
Retain Ownership of the Property
Ownership of the property is maintained by the borrower in the event of a loan secured by a property. When you pledge your property as security for a loan, ownership of the asset remains unchanged. If you are not in a position to pay back the loan, you have the option to sell the property.
Pre-Closure
You can choose to pre-close your loan secured by the property. If the loan you were granted includes a variable interest rate, there won't be any penalties for closing the loan early. You must pay a small pre-closure fee if your loan has a fixed interest rate.
Property Utilisation
If you are approved for a Loan against Property and have property to pledge as collateral, you can use the loan amount to cover your financial requirements.
Maintain Occupancy
You will not be required to vacate your house or flat if a mortgage is obtained on it. As long as you meet the pre-payment or payback obligations, you are free to remain wherever you are.
Chola Loan Against Property
A Loan Against Property is the answer to most of your financial requirements. The large sum that a Loan Against Property provides makes it one of the most preferred types of loan. Providing collateral for a loan only lessens your financial burden enabling a lower rate of interest, lesser EMI, and relaxed loan tenure. Expenses such as the purchase or construction of a new home, business investment/expansion, and purchase of machinery could drain your financial resources. Loan Against Property offers a convenient solution for your commitments.
Chola Loan against property is a multi-purpose loan intended to finance all your dreams and those of your family members. With Chola’s Loan Against Property, you can enjoy;
Fast-track approval process
Part Payment and Prepayment facility
Balance Transfer with better interest rates
Loan from 10 lakh to 7.5 crore
Floating rate of interest
Tenure up to 15 Years
Chola offers three types of Loan against Property
LAP loans for self-occupied and rented residential property
LAP Loans for self-occupied and rented commercial properties
LAP loans for industrial properties
Wrapping Up
Why wait? Check your eligibility for Chola Loan Against Property now and unlock a world of new possibilities! With Chola’s EMI calculator plan your finances effectively by getting a clear idea of your monthly repayment obligation. This will help in budgeting and ensure timely repayments. Additionally, it helps you to assess loan affordability and make informed decisions.
Disclaimer: The above information furnished are generic in nature and can be considered for informational purposes only. The interest rates, if mentioned in the article, can be volatile and subject to change. Please feel free to contact us for exact information on our products.
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any requirement of company background information or press releases or
photographs of spokesperson,
Please write to:
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