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Querist : Anonymous

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Querist : Anonymous (Querist)
12 October 2013 Hello Members,
We have some query about loan-
Actually we have already have home Lone and Education Loan from SBI, Gondia Branch (In 2007)(Maharashtra. We are regular payee and Outstanding Balance of both Loan about 7,00,000/-.
But, My Mortgage Valuation goes increase from 20,00,000/- (year 2007) to 70,00,000 (year 2013).
We are required to further loan upto 50,00,000/-. So Guide me for apply a loan in any scheme of SBI or other Banks.
We have a commission Agent Business not a trading concern.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
13 October 2013 You can apply a fresh loan based on increased valuation of collateral offered to Bank. SBI does have a scheme 'Easy SME Loan against Property' upto Rs, 1 cr, which shall suffice to your requirement.

If not possible, other bank can be approached for a fresh loan. in such scenario, you may need to shift your existing loan already availed from SBI based on this collateral to new lender.
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