Loan Against Property
Unlock the value of your property with competitive interest rates and flexible repayment options. A secured loan that works for all your financial needs.
Features & Benefits
Secured Loan
Backed by property collateral reducing lender risk, leading to lower interest rates compared to unsecured loans.
Higher Loan Amount
Get a higher loan amount compared to personal loans, determined by the value of your pledged property.
Flexible Tenure
Repayment period ranging from 5 to 20 years allows for lower monthly installments.
Multipurpose Use
No restrictions on how loan funds are used - address various financial needs with flexibility.
Improves Credit Score
Successfully repaying demonstrates responsible borrowing behavior and boosts your credit score.
EMI Calculator
A mortgage loan calculator calculates the financial implications of your Loan Against Property based on eligibility criteria to enable approval.
Eligibility & Documentation
Eligibility Criteria
- Must be a Citizen of India with valid documentation
- Stable occupation and income to prove creditworthiness
- Good three-digit Credit Score (track record of repayment)
- Healthy banking relationship with the lender
- Market value of property must exceed loan amount
- Must be current owner of the property with clear title
- Property must not be mortgaged with another institution
Required Documents
- Proof of identity/residence
- Proof of income
- Property-related documents
- Proof of Business (for self-employed)
- Account statement for the last 6 months
Fees & Charges
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 0.25% to 2% of Loan Amount |
| Loan Cancellation | Nill - 5% (according to Bank/NBFC) |
| Stamp Duty Charges | As per the Value of the Property and State Tax |
| Legal Fees | As per actual |
| Penal Charges | Usually 2% per month |
| EMI / Cheque Bounce Charges | Approx 500/- |
| Foreclosure | Nill to 4% (According to bank/NBFC) |
Other fees and charges that lenders may levy on your loan against property include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap.