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    Loan Against Property Eligibility

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    11.49% - 20% Fixed
    0.25% to 2%
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    Ad
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    12.50% - 19.50% Fixed
    0 One time fee
    25L Max
    1-6 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 18.49% Fixed
    2.5% (min. ₹1149) One time fee
    20L Max
    1-5 Years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 19.8% Fixed
    Up to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 19% Fixed
    0.25% to 2.5% One time fee
    25L Max
    1-5 years
    Response Time Within 30 minutes
    Paperless approval option available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.99% - 17% Fixed
    0
    30L Max
    1-5 years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    11.49% - 20.15% Fixed
    1% to 2%
    15L Max
    1-5 years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    13% - 20% Fixed
    Up to 1.5% One time fee
    15L Max
    1-5 years
    Response Time Within 30 minutes
    INSTANT DECISION
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    17.25% - 37% Fixed
    1.5% to 6.0% One time fee
    15L Max
    1-4 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    14.00% - 16.25% Fixed
    1.25% to 1.75% One time fee
    30L Max
    1-5 Years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    15.95% - 18.95% Fixed
    2% One time fee
    20L Max
    1-3 years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12.99% - 14.50% Fixed
    0.99% to 2% One time fee
    45L Max
    1-5 years
    Response Time Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    Customer Reviews
    Personal Loan BYTES FROM OUR KITCHEN

    Loan Against Property Eligibility

    Overview

    If you are running short money to fulfill you and your family’s diversified needs, do not worry. You can opt for a loan against property and arrange the money required for such needs.

    What is Loan against Property?

    Loan against property refers to the amount you can borrow against your property. Banks provide loan against both commercial and residential property. Also, you can take a loan against your rented residential property, self-occupied property or vacant property. It could be piece of land or a house. The amount received as loan against property can be used for acquiring new property or you can use the same amount to take-over of your existing loan by refinancing. It is a kind of secured loan where the border use his/her property as collateral.

    Loan against Property Eligibility

    The eligibility criteria for loan against property may vary from bank to bank. Listed below are the common eligibility conditions that a borrower needs to fulfill in order to get a loan against property:

    • Any salaried professional who is a permanent employee of an organization can apply for LAP.
    • Professionals like architects, chartered accountants, cost accountants, company secretary, doctors, engineers, dentists and management consultants can also apply for it.
    • Self- employed individuals who are income tax payers are also eligible for loan against property.
    • Bank will consider your total monthly income, how much savings and debt obligations you have before it approves your loan.
    • The eligibility for loan against property is also calculated based on value of your mortgaged property.
    • You should also have a good CIBIL score. Bank will track your previous loan and credit card bill repayment details.

    Loan against Property Eligibility Calculator

    By using a loan against property eligibility calculator, a borrower can calculate your eligibility for Loan against Property . The calculator will help you know you eligibility in various cities in India. While determining loan against property, banks mostly look at the following factors - property value, repayment capacity, total assets and liabilities, age of the applicant and his/her qualifications, number of dependants, spouse’s income, and legal and technical aspect of your property. Based on your eligibility, bank will decide how much amount you would receive as loan against property.

    Example: The State Bank of India provides a minimum of Rs.25, 000 and a maximum of Rs.1 crore as loan against property. The bank pays these amounts based on the following conditions:

    • 24 times of the net monthly income of salaried professionals,
    • And 2 times of the net annual income of self-employed and others.

    A borrower can get up to 60% of the total market value of his/her property as loan against property.

    *** Loan against property amounts are subject to change from time to time.

    How to repay Loan against Property

    The repayment procedure for loan against property is almost same with home loan repayment procedure. Many leading lending institutions accept both part repayment and full repayment. Also, many financial institutions does not charges any extra fees on prepayment. You repay your loan against property in Equated Monthly Installments (EMIs) which comprise your contribution towards the principal amount as well as interest payment. Your EMIs will start immediately after you accept the full disbursement.

     

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