Explore Your Options
Unlock the full potential of your property by considering a loan against it
Your home stands as your fortress, representing one of your most cherished assets. Whether it’s your ideal dwelling or a dream residence, when the time comes, leverage its potential to secure optimal financial support tailored to your needs.
Mahindra Finance Loan against Property
MINIMUM SALARY
18000/-Per Month 20000/-
RATE OF INTEREST
18% to 22%(Reducing)
PROCESSING FEES
1% to 3%
CIBIL SCORE
700+
LOAN AMOUNT
Rs.50k to 10 Lac
IIFL Loan Against Property
MINIMUM SALARY
25001/-Per Month
RATE OF INTEREST
25% to 30% (Reducing)
PROCESSING FEES
6% To 8%
CIBIL SCORE
625+
LOAN AMOUNT
Rs.50k- to 10 Lac
Motilal Oswal Loan Against Property
MINIMUM SALARY
20000/-Per Month
RATE OF INTEREST
18% to 32% (Reducing)
PROCESSING FEES
2% of loan amount
CIBIL SCORE
650+
LOAN AMOUNT
Rs.25000 to 5 Lac
Tata Housing Capital Loan Against Property
MINIMUM SALARY
15000/-Per Month
RATE OF INTEREST
15% to 30%(Reducing)
PROCESSING FEES
1% to 2%
CIBIL SCORE
550+
LOAN AMOUNT
Rs.8000 to 2 Lac
HDFC Bank Loan Against Property
MINIMUM SALARY
20000/-Per Month
RATE OF INTEREST
1.5% Per month onwards
PROCESSING FEES
Each time 2% flat for withdrawl
CIBIL SCORE
725+
LOAN AMOUNT
5000 to 5 Lakhs
DBS Bank Loan Against Property
MINIMUM SALARY
12000/- Per Month
RATE OF INTEREST
1.5% Onwards
PROCESSING FEES
1.5% – 2%
CIBIL SCORE
550+
LOAN AMOUNT
10000 to 4 Lac
(Upto 4 Month)
ICICI Bank Loan Against Property
MINIMUM SALARY
25,000+
RATE OF INTEREST
10.99% Onwards
PROCESSING FEES
2% – 5%
CIBIL SCORE
700+
LOAN AMOUNT
Upto 10 lakh ( Maximum 36 Month)
Hero Housing Loan Against Property
MINIMUM SALARY
Upto 5 lakh ( Maximum 60 Month)
RATE OF INTEREST
16% Onwards
PROCESSING FEES
1% – 4%
CIBIL SCORE
550+
LOAN AMOUNT
5000 to 25000 (1 Month to 6 Month)
Satin Housing Loan Against Property
MINIMUM SALARY
25,000+
RATE OF INTEREST
11.15% Onwards
PROCESSING FEES
1% – 4%
CIBIL SCORE
690+
LOAN AMOUNT
1 Lac to 40 Lac
(12 Month to 60 Month)
Axis Finance Loan Against Property
MINIMUM SALARY
15,000
RATE OF INTEREST
12% to 36%
PROCESSING FEES
3%
CIBIL SCORE
700+
LOAN AMOUNT
5000 – 1 Lac
| Bank Name | Rate of Interest | Processing Fees | CIBIL Score | Loan Amount | Apply Now |
|---|---|---|---|---|---|
| PNB Housing Loan Against Property | Roshni- 10.50% to 14%, Prime 8.75% to 10% (Reducing) | 10000 for Salaried, In Roshni-1%, Self Employed-0.50% | 625+ | Upto 10 Cr | Apply now |
Your home, a sanctuary of comfort and cherished memories, also possesses untapped financial potential. In this comprehensive guide, we delve into the world of loans against property, exploring how homeowners can harness the value of their real estate to secure substantial financial support.
Understanding the Concept: Loan Against Property (LAP)
A Loan Against Property is a secured loan where you pledge your residential or commercial property as collateral to avail a substantial loan amount. This form of financing is gaining popularity due to its versatility and the ability to meet diverse financial needs.
Why Consider a Loan Against Property?
Substantial Loan Amounts: The value of your property allows you to secure larger loan amounts compared to unsecured loans.
Lower Interest Rates: With the property serving as collateral, lenders often offer lower interest rates, making the loan more cost-effective.
Versatile Usage: From funding education or marriage expenses to business expansion or debt consolidation, the usage of the loan is diverse.
Document Requirements:
Property Documents: Title deed, sale deed, and other property-related documents.
Proof of Identity: Aadhar card, passport, or driver’s license.
Proof of Address: Utility bills or rental agreement.
Income Proof: Salary slips or income tax returns.
Bank Statements: Providing a snapshot of your financial stability.
Eligibility Criteria:
Property Valuation: The loan amount is often linked to the market value of the property.
Income Stability: Lenders assess your repayment capacity, considering your income and financial stability.
Creditworthiness: A good credit score enhances your eligibility for favorable loan terms.
Frequently Asked Questions (FAQs):
What is the maximum loan amount I can avail of?
- The loan amount depends on the market value of your property and varies among lenders.
Is my property at risk during the loan tenure?
- While the property is pledged as collateral, adherence to repayment schedules ensures its safety.
Can I prepay the loan before the tenure ends?
- Most lenders allow prepayment, and terms vary. Some may charge prepayment penalties.
How long is the loan tenure?
- Loan tenures are flexible, typically ranging from 5 to 20 years, depending on the lender.