Best Open plots Loans in Hyderabad
Best Open plot Loans with low interest rates in Hyderabad
An Open Plot Loan is a type of financial product offered by banks and Non-Banking Financial Companies (NBFCs) to individuals seeking to purchase a plot of land. Naarayana Open Plots loans are specifically designed for acquiring land intended for residential, commercial, or investment purposes. Unlike home loans, which are used for purchasing or constructing a house, open plot loans are exclusively for land acquisition.best open plot loans in Hyderabad
Purpose of plot Loans
- Purchase of vacant land: Naarayana Loans specifically for buying plots intended for future construction of a residential property.
- Investment: Individuals also take these loans for land investment purposes, hoping for appreciation in value over time.
Key features of Plot loans
- Loan Amount:
“Lenders typically finance a certain percentage of the land’s market value, often ranging from 70% to 75%. The maximum Plot Loan amount can vary significantly between lenders, potentially going up to ₹20 crores in some cases. Land Purchase Loans.”
Lenders charge slightly higher interest rates for open plot loans than for home loans because they perceive a higher risk associated with land investment.You can choose between fixed or floating rates, which then depend on factors like the lender’s policies, your credit score, and the loan amount.As of May 13, 2025, interest rates generally start at around 9.50% per annum, and they can go up to 18%, depending on the lender and your credit profile.
- Loan Tenure: The repayment period for open plot loans is usually shorter than for home loans, typically ranging from 10 to 15 years, although some lenders might offer tenures up to 20 years.
- Processing Fees: Most lenders charge a processing fee, which is usually a percentage of the loan amount (e.g., 1% to 1.5%) with potential minimum and maximum limits.
Eligibility for Plot loans At Naarayana Loans
open plot loans, also known as land loans, are financial products designed to help individuals purchase vacant residential land. These loans differ from traditional home loans as the primary purpose is the acquisition of land rather than a constructed property. Here’s a detailed overview:
Best open plot loans in hyderabad
Age
Age limt 25 Years to 55 Years
Nationality
An Active Bank Account
Credit Score
Maintain a good credit score
Permenent Address
Permanet Address with six month stability
Income
Earning regular income 50k/per month
Bank Account
An Active Bank Account
Documents Required For Open Plot Loans
Like the eligibility criteria, different banks need different documents for verification that proves the authenticity of the borrower. At Naarayana, along with a completely filled-in application form with a recent photograph, you may have to submit a couple of more documents, as needed by the financial institution with which you are applying for a personal loan. Mentioned below are a few documents that should be submitted for the verification process.
https://naarayanaloans.com/open-plots-loans-in-naarayana-loans/
Identity Proof – Pan Card / Aadhaar Card / Voter ID card / Driving License / Passport Copy
Current Address Proof – Driving license/ Passport Copy/ Latest Gas Bill / Latest Property Tax Bill / Bank Passbook / Ration Card
Age Proof – Pan Card / Aadhaar Card / Voter ID card / Passport Copy / Any Other Statutory authority Certificate
Bank Statement – Updated Latest 3 Months Statemen
Company ID – For Employment Proof
Salary Slip – Last 3 Months
Form 16 – If Required
Best open plot Loans in Hyderabad
INR 1,00,000/- taken as a loan amount over a loan tenure of 12-months at an annual interest rate of 10.25% will have a total payback amount of Rs. 1,05,639/- with a total payable interest amount of Rs. 5,639/- and a monthly EMI of 8,803/-.
Best Open plot Loans
Naarayana Loans is a financial advisory platform in Hyderabad, Telangana that connects creditworthy borrowers with trustworthy financial institutions like the banks & NBFCs, to provide suitable fundraising options for individual applicants & for businesses across Hyderabad, at the most considerable interest rates.
The finally imposed interest rates will be dependent on various aspects like the borrowing loan amount, loan type, loan tenure, borrower’s credit score, financial record, employment details, income, and other relevant factors. The borrowed loan amount will have to be paid back as per the scheduled repayment plan, as decided by the borrower & the financier