Loan Against Property
Discover your property's potential - Need funds without selling your property? Use your property for more than just living. Get a loan against property with competitive rates and easy online application.
What is Loan Against Property?
A Loan Against Property, or LAP, is a secured loan. It helps you to find the value of your residential or commercial property by keeping it as collateral. The loan can be used for different needs such as business expansion, education, or personal needs.
We provide loans from the best banks at the lowest interest rate starting from 8.5% R.O.I. Use your property's potential to fulfill your needs. Get a loan against property at lower interest rates.
Key Benefits of Loan Against Property
Lower Interest Rates
As LAP is a secured loan, the interest rates are lower than unsecured loans like personal loans. For example, instead of paying high interest on a personal loan for a wedding, you can save significantly by opting for a LAP.
Large Loan Amount
You can avail high loan amounts, depending on the value of your property, allowing you to meet financial needs such as business expansion, education, or debt consolidation. Use a LAP to fund your child's overseas education or to set up a new factory for your growing business.
Use for Multiple Purposes
Pay for a major surgery, invest in a new venture, or renovate your home using the same loan. Whether it's for personal needs, business growth, medical expenses, or education, there are no restrictions to its use.
Tax Benefits
In some cases, especially when used for business or property-related investments, LAP can provide tax benefits under certain sections of Income Tax. You can claim deductions if the loan is utilized for constructing another property or financing business expansion.
Easy Online Application
You can apply for a loan against property online, making the process fast and convenient with less paperwork. For example: Complete your loan application from home in minutes without the hassle of repeated bank visits.
Flexible Repayment Options
Choose a repayment plan that suits your budget with flexible tenure and EMI options to ensure comfortable repayment.
Eligibility & Application Process
Eligibility Criteria
It is very easy to get a loan against property by following simple eligibility criteria:
The age of the borrower should be between 23 years to 65 years of age
The applicant should be receiving his or her income as salary or the applicant must be self-employed
A minimum credit score of 750 or above is required
Based on the City, the monthly salary should not be less than ₹22,000 for NBFCs and ₹30,000 for the banks
Required Documents
The documents that are necessary for the identification of the applicant, his place of residence and repayment capabilities are the following:
- •Proof of Identity: Aadhar Card, Voter ID, Passport, PAN Card (Anyone)
- •Proof of Address: Utility bill-Electricity bill, Gas bill, Telephone bill, Identity proof (Anyone)
- •Proof of Business Existence: Partnership Deed Copy, Trade License, Certificate of Practice, GST Certificate, UDYAM Certificate
- •Evidence of Earnings: Income Tax Returns for the past three years, Statement of Income, Balance Sheet for Profit and Loss, Statement of Assets and Liabilities, Statements from Bank Accounts for the last six months
- •Documents Related to Property: All necessary documents concerning the property being discussed
How to Apply for Secured Loan Against Property
Go to the official website for a loan against property
Fill in your basic details to proceed further
Get your number verified through OTP
Once your number is verified, our executive will give you a call and brief you on the process
You can avail your loan against property with instant disbursal
Interest Rates & Lenders
Loan Against Property Providers with Interest Rates
Different banks provide loans against property at varied rates of interest. Here are a few of the top banks that provide these loans at affordable rates:
| Banks/NBFCs | Rate of Interest |
|---|---|
| HDFC Bank | 8% p.a. to 8.95% p.a. |
| Axis Bank | 7.90% p.a. to 9.30% p.a. |
| IDFC Bank | 7.5% p.a. onwards |
| Tata Capital | 10.10% p.a. onwards |
Why Choose Loan Against Property Online?
Convenience
Apply for a loan against property online, from the comfort of your home. No need for multiple bank visits or lengthy paperwork.
Quick Processing
Fast approvals and disbursement when you apply online. Get access to funds quickly without delays.
High Loan Amounts
Get access to high loan amounts to meet your financial needs. Leverage your property's full value.
Flexible Repayment Option
Choose a repayment plan that suits your budget. Flexible tenure and EMI options available.
Frequently Asked Questions
Can I continue to live in a property that I pledged as collateral?
Yes, you can continue to live in or use the property that you have pledged as collateral for the loan. The lender only holds the property as security and you retain ownership and usage rights.
What is the maximum loan amount I can get against my property?
The loan amount depends on the market value of your property. Typically, lenders offer 50-70% of the property's market value. The exact amount varies based on the lender's policies and your repayment capacity.
What is the interest rate of a Loan Against Property?
Interest rates for Loan Against Property typically range from 7.5% to 10.10% per annum, depending on the lender, your credit score, and loan amount. Rates are generally lower than unsecured loans as the property serves as collateral.
How can we apply for a quick loan against property?
You can apply online through our website by filling in basic details, getting OTP verification, and submitting required documents. Our executive will guide you through the process and help with quick disbursal.
Does a loan against property require income proof?
Yes, income proof is required to assess your repayment capacity. This includes Income Tax Returns for the past three years, salary slips, bank statements, and financial statements for self-employed individuals.
Unlock Your Property's Potential Today!
Get competitive rates and high loan amounts with easy online application