Loan Against Property – NizGhar

Over 10 years we help companies reach their financial and branding goals. ICS is a values-driven consulting agency dedicated.

Gallery

Book an Appointment

Loan Against Property

Providing affordable Loans against property

Loan against Property (LAP), also known as mortgage loan, allows consumers to raise funds by leveraging their residential, commercial or industrial properties. Like unsecured personal loans, Loan against property (LAP) can also be availed for meeting both personal and business needs other than speculative purposes.

Apply Now

Banks and HFCs offer loan against property for tenures of up to 20 years. The loan amount for LAP can go up to 75% of the property’s market value, depending on the lender and the credit profile of the borrowers. Many lenders also offer Lease Rental Discounting (LRD) facility, which allows consumers to avail loan by pledging the rental receipts of their tenants.

Features & Benefits of Loan Against Property

Lower interest rates – The secured nature of the loan reduces lending risk of banks and NBFCs considerably, thereby, allowing them to offer the loan at lower interest rates.
No end use restrictions – Loan proceeds can be used for any purpose such as for consolidating multiple high-interest debts, covering costs related to wedding, business expansion, etc.
Longer loan tenure – Banks and NBFCs offer tenures of up to 20 years on loan against property, resulting in more affordable EMIs.
Higher loan amount – Lenders usually finance up to 70% of the property value, resulting in higher loan amounts.
Higher chances of loan approval – The loan is backed by any underlying property, thus, reducing lending risk for banks/NBFCs and increasing borrowers’ odds of availing the loan.
Overdraft facility – Borrowers can also avail overdraft facility on this loan, giving them higher liquidity at lower interest cost.

Loan Against Property Interest Rates offered by Top Banks & HFCs

Lender	Interest Rates (p.a.)	Processing Fees
Bank of India	10.10%-12.60%	Up to 1% of loan amount (Rs 5,000 – Rs 50,000)
Bank of Baroda	10.85% – 18.60%	Up to 1% (Rs 8,500 upfront – Rs 75,000)
Bank of Maharashtra	10.45% – 11.95%	1% of loan amount
Federal Bank	12.60% onwards	1% of the limit sanctioned with a minimum of Rs. 3,000
HDFC Bank Limited	9.50% – 11.00%	Up to 1% of loan amount (minimum Rs 75,000)
ICICI Bank	10.85% – 12.50%	Up to 1% of loan amount
IDFC First Bank	9.00% – 16.50%	Up to 3% of loan amount
Indian Bank	10.00% – 12.75%	1% of loan amount
Indiabulls Housing Finance	9.75% onwards	1% onwards
Kotak Mahindra Bank	9.50% onwards	Up to 1% of loan amount
L&T Housing Finance	9.50% onwards	Up to 2% of loan amount
LIC Housing Finance	9.50% – 11.55%	Up to 1% of loan amount
PNB Housing Finance	10.40% – 12.75%	0.75% of loan amount (Max. Rs 1 lakh)
State Bank of India	10.00% – 11.30%	Flat Rs 10,000
Tata Capital	9.00% onwards	Up to 1.25% of loan amount
Union Bank of India	10.45% – 13.10%	Up to 1% of loan amount (Min. Rs 5,000 & Max. Rs 1 lakh)
UCO Bank	10.85% – 12.00%	0.50% of loan amount (up to Rs 2 lakh)

Residential Status: Resident Indian and Non-resident Indian
Minimum Age Limit: 18 years
Maximum Age Limit: 70 years
Employment Type: Salaried, Self-employed Professional and Self-employed Non-Professional
Minimum Salary: At least Rs. 12,000 per month
Net Annual Income: At least Rs. 1.5 lakh p.a.
Work Experience: At least 1 year in the current organization
LTV Ratio: Up to 75% of property value
Credit Score: Preferably 750 and above
Property Type: Residential, Commercial and Industrial properties are eligible to be pledged as collateral. Lenders will also consider the age and condition of the property before accepting the property as collateral.
Proof of Identity (Passport/ Voter ID Card/ Driving License/ PAN Card)
Proof of Residence (Ration card/ Telephone Bill/ Electricity Bill/ Rental Agreement/ Passport/ Bank Passbook or Statement/ Driving License)
Proof of Age (PAN Card/ Passport/ Any other certificate from a statutory authority)
Proof of Income for Salaried (Form 16, Latest Payslips, ITR of past 3 years and investment proofs (if any)
Proof of Income for Self Employed (Details of ITR of last 3 years, Balance Sheet and Profit & Loss Account Statement of the Company/Firm, Business License Details and Proof of Business Address)
Property-related Documents (Title Deeds including the previous chain of the property documents, Nil Encumbrance Certificate on the concerned property, approved plan [if applicable])

Loan Amount

₹ 2500000

5 Lac 2 Cr

Loan Tenure

15 Years

5 30

Rate Of Interest

8.5 %

6 20

Monthly Loan EMI

₹ 0

Estimated Monthly Payment

Payment Breakdown:

Principal Amount

Interest Payable

Total Amount Payable

Contact For Know More

Looking for a First-Class Finance Firm?

We welcome and celebrate different perspectives to help our firm, our clients and our people.