Loan Against Property

9.50% ^*

Rate of Interest

About Loan Against Property

If you require funds for personal or business expenses, a loan against property can be a suitable solution. Banks or financial institutions can assist you in obtaining these funds. The loan amount can be used for various purposes, such as renovating your property, purchasing a commercial property, acquiring new furniture or household appliances, starting a business, using as capital for an existing business, or funding a holiday trip.

With a loan against property, you have the advantage of raising a significant loan amount with longer repayment terms, resulting in lower Equated Monthly Installments (EMIs) at a reduced rate of interest. This financing option allows you to access funds without having to sell your property, while also benefiting from lower interest rates compared to unsecured loans.

Here are some common purposes for which a loan against property can be availed:

Expanding your business
Financing your child's wedding
Supporting your child's higher education
Funding your dream vacation
Covering medical treatment expenses

By leveraging your property, a loan against property offers you the opportunity to fulfill various financial needs efficiently.

Features of Loan Against Property:

Cost-Effective Option: Offers significantly lower interest rates compared to personal loans (typically at 11% - 21%).
Extended Loan Tenure: Enjoy longer repayment periods, with Loan Against Property offered for up to 15 years.
Affordable EMIs: Due to lower interest rates, EMIs are often more budget-friendly than personal loans.
Streamlined Process: Benefit from simple documentation and fast approval procedures.
Competitive Interest Rates: Avail of attractive interest rates on your Loan Against Property.
Convenient Doorstep Service: Experience personalized assistance and service at your doorstep.
Maximum Loan Eligibility: Unlock access to higher loan amounts based on your property's value.
Easy Repayment Options: Enjoy flexible and manageable repayment plans.

Documents For Loan Against Property:

Salaried / Individuals Documents:

One Photograph each of Applicant and Co-applicant.
Copy of ID Proof / Signature Proof / Date of Birth Proof: PAN Card / Valid Passport.
Last 3 Months' Salary Slips.
Last 2 Years' Form 16.
Bank Statements for the Last Six Months.
Copy of Latest Address Proof.
Property Documents.

Self-Employed Documents:

One Photograph.
Copy of ID Proof / Signature Proof / Date of Birth Proof: PAN Card / Valid Passport.
Copy of Latest Address Proof.
Business Proof.
Business Address Proof.
Last 2 Years' Income Tax Returns with Computation of Income, Balance Sheet, and Profit & Loss Account, along with Annexure (CA certified or Audited) for both individuals and the company.
Bank Statements for the Last 1 Year – All Accounts (Self and Business).
Existing Loan Statement or Sanction Letter for All Current Loans (if any).
Property Documents.