atlascapfin.com

Atlas brings to table Convenience, Competence and a wide range of products and banks to choose from. You can fulfill all your financial requirements from the comfort of your home. Backed by their experience and expertise, our executives will ensure that you have a choice of products to choose from and will also ensure that your products are delivered at your doorstep. They take the onus of completing the application process, following up with the banks and finally communicating you of the bank’s decision to disburse the loan. Effectively, you maximize your chances of getting the best deal possible without running from pillar to post.

NIL in case of Loan services. However, property search services will be charged depending on the type of service and the same will be informed to you well in advance.

We are the authorised channel partners for all the banks & FI’s listed on the site, we are being paid by the respective banks/FI’s for the services rendered on their behalf.

Lots more. Atlas offers 360-degree financial solutions to fulfil your requirements at every stage of life: education, buying home, starting a family, upgrading your home, or starting your own business. We provide you with easy access to expertise so that you can make a more informed decision. We also offer advisory services and reply to your individual problems.

We take consumer privacy seriously. For details, please refer to our Privacy Policy.

Atlas is headed by professionals. For more details please read about us.

The chances are very slim. “Tell you Friends if you are happy with us else write to us on info@atlascapfin.com”. We value your honest feedback as it would help us improve our services. Once we hear from you, we'll do everything we can to help redress the issue.

All you need to do is just call us on the numbers provided. Our subject matter expert would reach you at a time & place convenient to you & guide you through the process.

There are a variety of home loans available. They are:

HOME PURCHASE LOAN
This is the common loan for purchasing a home. Be it a flat / individual house / Bungalow or a Villa.
HOME IMPROVEMENT LOAN
This loan is given for undertaking repair works and renovations to your home.
HOME CONSTRUCTION LOAN
This loan is available for the construction of a new home on a preowned site.
HOME EXTENSION LOAN
Home extension loans are given for expanding or extending an existing home. For example, addition of an extra floor, etc.
LAND PURCHASE LOAN
This type of loan is sanctioned for purchase of approved residential land/site, for both home construction or investment purposes.
BALANCE TRANSFER LOAN
Balance Transfer loans help you pay off an existing home loan which are running at a higher interest rate, by availing loan at a lower rate of interest along with some additional loan quantum.
REFINANCE LOAN
This loan helps you pay off the debt you have incurred from private sources such as relatives and friends, for the purchase of your present home.
STAMP DUTY LOAN
This loan is sanctioned to pay the stamp duty amount that needs to be paid on the purchase of a property.
LOANS TO NRIs
This loan is tailored for the requirements of NRIs wishing to build or buy a residential property in India

EMI (Equated Monthly Installment) is the amount payable to the lending institution every month, till the loan is paid back in full. It consists of a portion of the interest as well as the principal.

EMI Formula: l x r [(1+r)n /(1+r)n-1 ] x 1/12

l = loan amount

r = rate of interest

n = term of the loan

Some of the lending institutions sanction the loan without requiring you to identify property and enables you to budget your purchase cost.
Free accident insurance / property insurance / affordable mortgage redemption term assurance
Discounted Rate of Interest / Fees.
Waiving of pre payment penalty.

To qualify for a home loan, most of the lending institutions in India require you to be:

A resident Indian or NRI
Above 21 years of age at the commencement of the loan
Age to be less than 58 on loan termination for salaried class of cutomers or below 65 of age on loan termination
Either salaried or self employed.

Rate of interest generally vary from bank to bank & on profiles. Please find below the current range on rates for Loans. After understanding your requirement our advisor would be able to inform you the applicabe Rate for your facility

Daily Reducing: In this system, the principal, for which you pay interest, reduces from the day you pay your EMI. EMI in the daily reducing system is less than the monthly reducing system.

Monthly reducing: In this system, the principal, for which you pay interest, reduces every month as you pay your EMI.

Annual reducing: In this system, the principal, for which you pay interest, reduces at the end of the year. Thus you continue to pay interest on a certain portion of the principal which you have actually paid back to the lender. This means the EMI for the monthly reducing system is effectively less than the annual reducing system.

Keep the loan period constant and calculate the total amount paid for the home through the different loan options available.

This is the rate of interest that fluctuates according to the market lending rate. This means you would be benefitted in the event the rates go down or stand the risk of paying more than you budgeted for in case the lending rate goes up.

This is the rate of interest that fluctuates according to the market lending rate. This means you stand the risk of paying more than you budgeted for in case the lending rate goes up.

Home loans are usually accompanied by the following extra costs:

Processing Charge: It's a fee payable to the Bank/FIs on applying for a loan. It is either a fixed amount not linked to the loan or may also be a percentage of the loan amount.
Pre-payment Charges: When a loan is paid back before the end of the agreed duration, a fee is levied by some banks/companies, which is usually between 1% and 2% of the outstanding loan amount.
Commitment Fees: Some institutions levy a commitment fee in case the loan is not availed of within a stipulated period of time after it is processed and sanctioned.
Miscellaneous Costs: It is quite possible that some lenders may levy a documentation, Legal charges, Technical charges etc in the absence of Processing fees.
Registered mortgage deed or Creation of Memorandum of Understanding/Entry. Stamp duty payable on this will have to be paid by customer.

Repayment period options range generally from 5 to 20 years.

Usually, most companies give up to a maximum of 85% of the cost of the residential unit. The 15%, sometimes called 'seed money', will have to be provided by the loan applicant or the purchaser. The amount, for which the applicant is eligible, is determined by the age, income, no. of dependents, monthly outgoing and repayment capacity. This varies from case to case.

In most cases, the property to be purchased itself becomes the security and is mortgaged to the lending institution till the entire loan is repaid. Some institutions may ask for additional security such as life insurance policies, FD receipts and share or savings certificates.

Some institutions ask for 1 or 2 guarantors on a case to case basis, others do not.

About 5-15 days.

On an average, loans are disbursed within 7-15 days after satisfactory and complete documentation and completion of all relevant procedures, including proof that 15% of the cost has been paid upfront to the seller of the property.

Normally only the close relatives like spouse, parents, brothers are allowed as co-applicants. All co-owners of property will have to be co-applicants.

Both principal as well as interest of home loans attract tax benefits. With effect from 1st April 2005 (i.e. assessment year 2006-07) under section 80C of the Income Tax Act 1965:

Principal amount of repayment of loan along with other savings such as PF, PPF, Life Insurance premium etc up to a maximum of Rs 1,00,000/- will be eligible for deduction from gross income.

Interest paid on loan after completion of construction will be deductible from income from property.

For self occupied - Income will be treated as nil and interest payments can be treated as expenses towards Interest on Loans

For rental property - It will be adjusted against rental income.

You can avail of loans ranging from Rs 1,00,000/- to Rs 15,00,000/- depending on your eligibility, income and repayment capacity.

The loan can be repaid over a period of 12 to 60 months.

A processing fee of 2 % or 3 % depending on the location of the loan amount is payable upfront. This fee will be deducted from the disbursal amount payable to you.

Loans are approved within 72 hours of submission of complete documentation.

No security, collateral or guarantors are required for obtaining a Personal Loan.

You can repay the loan in Equated Monthly Instalments (EMI's) through post-dated cheques/ECS favouring the respective bank/FIs,

Yes, you can prepay the entire loan outstanding after paying 6 installments of availing the same. Prepayment charges as applicable would be levied on the outstanding loan amount which varies from Bank to Bank. Normally, No part prepayment is allowed.

Opening an account is not mandatory.

How do I approach Atlas for a Personal Loan?

You can approach us in any of the following ways

Call us on the numbers available on the site.
Apply Online
Write to us using the "Email Us" option
You can just walk into our office at a location near to you.

Sole proprietorship businesses, partnerships and private limited companies are eligible to apply for business loans.

Many lenders require that the business concerns interested in availing business loans should have a minimum net income of Rs 150,000 pa for loans up to 15 Lakhs. If the requirement is larger, the net income requirement also increases.

Business loans are sanctioned to supplement working capital requirements, short-term cash needs and business expansion plans. You can also acquire another business, new inventory, equipments or any other business asset.

Usually, lenders sanction business loans for 12 to 48 months.

No security is required for loans up to 15 lakhs (conditions differ from lender to lender)
No guarantee required
Fast Loan Processing
Minimum Documentation

Business loans can be sanctioned for a fixed term or may involve a revolving line of credit or they may be in the form of an overdraft facility.

You will have to provide a security for taking large business loans. Most of the public sector and private sector banks offer these loans.

Yes. You can apply for unsecured business loans to meet your short-term needs.

Different banks have set their own criteria for lending unsecured business loans. The maximum loan amount varies from bank to bank.

All you need to do is just call us on the numbers provided. Our subject matter expert would reach you at a time & place convenient to you & guide you through the process.

You can avail of Loan against Property against a Residential, Commercial Property or a Plot for either your personal or business activities other than speculative or non prohibitive activities.

The banks / FIs will decide the loan amount based on your repayment capacity. Repayment capacity takes into consideration factors such as income, age, qualifications, number of dependants, spouses income, assets, liabilities, stability and continuity of occupation and savings history.
However the eligibility of loan shall not exceed 50-60% of the cost of property in majority of cases.

You can include your spouse as a co-applicant to the Loan. His / her income can be added to enhance the loan amount. However all co-owners of the property should necessarily be the co-applicant/s.

A Processing fee of upto 1.50 % of the loan amount would generally be collected by all Banks / FIs in general.

Interest is calculated on a monthly reducing balance. Your monthly out-go (equated monthly installment - EMI) is much lower as compared to the interest on annual reducing balance. However in the event of any part payment towards the loan the interest is levied on the outstanding loan quantum which translates into daily reducing balance.

The tenure of the loan depends from bank to bank. However the maximum period of loan would be 15 years. Repayment will not ordinarily be extended beyond the age of retirement (if you are employed) or on attaining 65 of age incase of Self Employed.

You repay the loan in EMIs (Equated Monthly Installments) which comprises of principal and interest. Repayment by way of EMI commences from the month following the month in which you avail the loan.

Pending final disbursement, you pay interest on the portion of the loan disbursed. This interest is called Pre-EMI interest. Pre-EMI interest is payable every month from the date of each disbursement up to the date of commencement of EMI

The security for the loan will be the first mortgage of the property to be financed, normally by way of deposit of title deeds and/or such other collateral security, as may be necessary. Collateral security for by way of assignment of insurance policy or any such other assignable financial instruments as decided by the bankers, as security to loan if deem necessary by the Bank. Please do ensure that the title to the property is clear, marketable and free from encumbrance. To elaborate, there should not be any existing mortgage, loan or litigation which is likely to affect the title to the property adversely.

Certainly. You can repay the loan ahead of schedule subject to payment of pre-closure charges as applicable. Pre-closure charges would be in the range of 2% - 5% on the outstanding principle amount, which varies from bank to bank.

You will have to ensure that the property is duly and properly insured for fire and other appropriate hazards, as required by the banks/FIs, during the tenor of the loan.

Yes. The policies of the banks / FIs is subject to revision periodically.

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