Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Personal Loan BYTES FROM OUR KITCHEN

    Loan Against Property Eligibility

    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.

     

    Loan Against Property Eligibility Reviews

    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with the personal loan from the Kotak BANK , there service is too good, they have charged me nominal rate of interest in this loan they have charged me up to 10.99% it is nominal, and even processing fee they have charged me was nominal they have charged me up to 1% . but they have taken stamp duty charges and credit appraisal charges as well,the loan amount they have given me was sufficient.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jan 21, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been using bank bazaar service for first time, and i came to know about bank bazaar service through on line as i was checking for some financial products and i have been downloaded mobile application it is easy to access.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 21, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.0/5 "Great!"
      I have been using bank bazaar service for first time,i came to know about bank bazaar service through on line, like i was seeing for good bank for apply a credit card for page was on top and i have been using bank bazaar website it was easy to access.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 21, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with KOTAK MAHINDRA BANK, the loan amount they have given me was not sufficient they have given me up to 2,90,000 as loan amount i have expected up to 3,00,000 as loan amount, and the rate of interest they have charged me was high like while applying they have said that they will be charging 15.75% but they have charged up to 16.75% and they have taken me processing fee up to 10,000 including gst it was bit high, there was 10-12 days delay in getting loan amount.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Jan 21, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 4.5/5 "Excellent!"
      I have been using bank bazaar service for first time, i came to know about bank bazaar service through on line, and i was searching for some credit cards, and i have been using website of bank bazaar it is easy to access, and there customer support team is very good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2019
    • Kotak Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my personal loan with KOTAK MAHINDRA BANK, the loan amount they have given me was sufficient , they have charged me rate of interest was nominal they have charged me up to 15.99% was nominal, and the processing fee they have charged me was nominal there was no delay in loan , bu there was many deduction they have given me up to 8,000-9,000 it high , and emi option on 10 jan it got auto debited but in 11-12 jan again it came to my account stating that it got bounce, i need to check with the customer.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 20, 2019
    • Bank Bazaar Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I Came to know about bank bazaar service through on line, i have been applied for first time for my personal loan,the bank bazaar service was excellent,and i have been using website,it is easy to access,there was no technical issue i have been faced yet, overall service was excellent.
      Was this review helpful? 0
      , nasik
      Reviewed on Jan 20, 2019
    • HDFC Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I took my personal loan with HDFC bank recently,the loan amount they have charged me was sufficient,it is enough for me ,and the rate of interest they have charged me nominal,i donâ??t know exactly how they have charged me it should be in between of 10-13% ,which is nominal compare to market rate,and the processing fee they have charged me was nominal,i got loan on time.
      Was this review helpful? 0
      , nasik
      Reviewed on Jan 20, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been quite a good experience i had with this loan and the process has went well in getting this loan. It was a pre approved loan and the loan amount has been sufficient, the interest rate with them has been on the higher end and the customer support support and the staffs has been good.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 20, 2019
    • Kotak Personal Loan
      "Average Service"
      0.5 2.0/5 "Expected more"
      It was not a good experience i had with this loan where the interest rate with them has been around 18% which was very high when compared with the market rate and the charges which they had made also has been very high. Their customer support response has also not been good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 20, 2019
    • ICICI Bank Personal Loan
      "Not a good services"
      0.5 1.0/5 "Really Bad"
      I had taken the personal loan with ICICI bank. When i went for the pre-closure they have charged me a huge amount as a pre-closure charges and the same has not been informed at the time of taking the loan. Interest rates were very huge which is 15% and the processing fee was Rs. 1000. Actually i have to locate a particular branch for closing the loan and the closing option is not available in all the branches.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 20, 2019
    • Capital First Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with Capital first personal loan for long time, they have given me sufficient loan amount ,and the rate of interest they have charged me is nominal they have charged me up to 11.9% approx they take up to 12% as interest,the processing fee they have charged me was nominal,there overall service was good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • Tata capital Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using TATA CAPITAL bank personal loan for long time,the loan amount which they have given me was sufficient,the rate of interest they have charged me where high,they have charged me up to 14%, it high compare to other bank,and the processing fee they charged me was nominal,till now no issue with them,overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • ICICI Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using with ICICI bank personal loan for long time, they have given me sufficient loan amount ,and the rate of interest they have charged me is nominal they have charged me up to 11.9% approx they take up to 12% as interest,the processing fee they have charged me was nominal,there overall service was good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • HDFC Bank Personal Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using HDFC bank personal loan for long time,the loan amount which they have given me was sufficient,the rate of interest they have charged me where high,they have charged me up to 14%, it high compare to other bank,and the processing fee they charged me was nominal,till now no issue with them,overall service is good.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 20, 2019
    • Punjab National Bank Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding personal loan with punjab national bank,andthe loan amount they have given me was sufficient, there process was quick ,and the loan amount i got with in one week,and the rate of interest they have charged me was nominal,they have charged me up to 10.25% previously but after negotiating they have charged me 10.10% ,the processing fee they have charged me nominal,there executive had clearly explained .
      Was this review helpful? 0
      , kolkata
      Reviewed on Jan 20, 2019
    • Bank Bazaar Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      I got a good experience with bank bazaar. This is the first time, I have applied the personal loan and just Googled went through the link. I have used the website and representative contacted immediate. They have explained me process and hassle free. I have not checked with the credit score.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2019
    • IndusInd Bank Personal Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      The rate of interest and charges are reasonable. The loan duration is 5 years. The documents are collected by the executive. I have not checked the term and conditions for foreclosure. The loan process was immediate. The customer service and response was fine in Induslnd Bank.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2019
    • ICICI Bank Personal Loan
      "High Interest rates"
      0.5 4.0/5 "Great!"
      I have taken a personal loan with ICICI Bank and the loan is still running. The rate of interest is bit high and it is around 11.45%. At the time i applied for a credit card my application was processed quick. If the rate of interest come down it will be good. The Tenure period is 5 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2019
    • ICICI Bank Personal Loan
      "Not satisfied"
      0.5 1.0/5 "Really Bad"
      Still am running the personal loan, They did not reveal the charges and executive called me informed about I will receive some loan amount but got lesser than that. Though I called the customer service there was no proper response. The loan duration is 5 years and monthly EMI is 14K through ECS. I am a salary account holder of ICICI Bank and did not get any much benefits of this account.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 19, 2019
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