Loan against property is a multi-purpose loan that can be availed for many things that life throws up at you, may it be for starting a new business or need funds for education or marriage of your child and many more. All these purpose can be fulfilled by opting a loan against residential or commercial property.
Apply for Loan Against Property by offering your commercial or residential property as a collateral, and get loan at competitive interest rates, customised options and hassle - free processing for fulfilling your needs.
Any person who is salaried or self-employed is liable for availing this facility and maximum age of applicant at loan maturity should not be more than 60 years.
Minimum net monthly income should be more than Rs 25,000.
Experience in case of salaried is at least 2 years and self-employed is 3 years.
Applicant should have a credit score above 750.
Below are the features which will benefit you if you avail this loan
Yes, it is possible to take a loan against property in case of multiple owners as long as all co-owners apply as co-applicants to the loan.
You can get a Loan Against Property up to a maximum of 70% of the market value of your property.
Yes, you can avail up to 90% of the total LAP as an overdraft.
You can mortgage both residential and commercial property but the property should be free from any charge.
