When you intend to apply for ABFL Mortgage Loan  then you need to take the following steps:

1. Visit the ABFL website to fill in the digital application form completely for a mortgage loan at lowest minimum interest rate that they make available 
2. Submission of a few essential documents such as KYC, Financial, and Property is required 
3. This NBFC then initiates the mortgage loan processing that includes legal and technical verification 
4. Loan eligibility of yours is determined by ABFL, which then provides you with a sanction letter. It includes the following details: sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions 
5. Finally, the document verification is completed, a mortgage loan disbursement is raised, and the disbursement cheque is issued.  

There are a few important documents that you need to submit while applying for an ABFL Mortgage Loan, they are given in tabular form below:

Usually, it is because of the competitive lowest minimum interest rate and flexibility in loan tenure that ABFL provides, that you need to select a mortgage loan provided by this NBFC.

After you submit all the necessary documents to secure an ABFL Mortgage Loan, you are likely to get a sanction letter in about a few days or a couple of weeks.

A minimum CIBIL score of 720 is likely to secure an ABFL Mortgage Loan.

The minimum mortgage loan amount sanctioned by ABFL is Rs 20 lakh. Meanwhile, the maximum mortgage loan is Rs 10 crore.

Many banks or other financial institutions like ABFL require only a co-owner to be a co-applicant for a mortgage loan. Moreover, it is not necessary that you have a co-applicant to apply for a ABFL Mortgage Loan. If you do have one though it helps in enhancing your loan eligibility and proving to your lender your ‘Creditworthiness’.

The rate of interest for ABFL Mortgage Loan is Floating interest rate which is linked
to MCLR ( MARGINAL COST OF FUNDS BASED LENDING RATE )
Therefore it will change every time the repo rates get reused by the regulator.

It is possible for your ABFL Mortgage Loan to improve significantly, if you have IT returns of three financial years to show. However, this does not mean it even if you do not have T returns of three financial years you cannot secure a mortgage loan. For you to get one though you need to be looking for a small mortgage loan amount and have a good CIBIL score to prove that you are ‘Creditworthy’.

After completing the filling of mortgage loan application form and submitting all the necessary documents for ABFL Mortgage loan, this NBFC provides you with disbursal in a few days or weeks after providing you with a sanction letter.

Additional details about the ABFL Mortgage Loan that you need to know that are given below: 

1. Types of ABFL Mortgage Loan:

   There are two  types of ABFL Mortgage Loan. They are as follows: 

   1. ABFL Loan Against Property:

      This Loan against Property (LAP) is provided by ABFL to fulfill personal financial needs such as medical or marriage and professional requirements like expansion of business. 

   2. ABFL Lease Rental Discounting:

       ABFL provides this mortgage loan scheme for those individuals who have leased their property. This is mainly to help fulfill their personal or business related financial needs.