J&K Bank offers 100% processing fee waiver for loan against property till March 31

J&K Bank has announced that loan applicants can prosper with property by turning their assets into capital to power their ambitions. In other words, they can take a loan by using their property as collateral – also known as a loan against property.

Borrowers can enjoy flexible repayment options of loan, transparent processes and a 100% waiver of loan processing charges. This option is available only for those loan applicants who apply for it on or before 31 March 2025.

In case of loans to individuals, the income of family members such as parents, spouse, and children can be considered for deriving loan eligibility and repayment capacity.

Processing charges

Without exemption, processing charges amount to 0.25 per cent of the loan amount with a maximum ceiling of ₹5 lacs + GST.

Self occupied

Preferably, the property will be self-occupied or vacant; however, wherever the property to be mortgaged is leased or rented out, but there is no underlying registered lease or rent deed and the lease or rental period is 11 months or less, such properties can also be accepted. The amount of loan can range between ₹2 lakh and ₹10 crore, per the details on J&K Bank's website.

Repayment

The amount of loan (along with interest) must be repaid in maximum of 12 years or up to the age of 75, whichever is earlier in case of individual borrowers. The age of youngest borrower can be considered for deriving loan tenor or repayment period so long as his contribution to EMI is at least 50 per cent.

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