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LOAN AGAINST PROPERTY

Loan Against Property Interest Rates

Bank Loan Against Property Rate Processing fees
10.00% 1.00%
Max Rs. 50,000
Apply
9.65% 0.25% Apply
8.70% Apply
10.10% 1.00%
Min Rs. 10,000
Apply
10.20% 1.50% Apply
11.35% 0.50%
Min Rs. 10,000 - Max Rs. 10,000
Apply
9.50% 2.00% Apply
10.15% 1.00%
Min Rs. 5,000 - Max Rs. 10,000
Apply
10.20% 1.00% Apply
11.10% 0.50%
Max Rs. 20,000
Apply
10.50% 1.00% Apply
12.00% 1.00% Apply
10.25% 1.00% Apply
10.75% Apply
10.25% 1.00% Apply
11.50% 0.50% Apply
9.80% 1.00%
Min Rs. 10,000
Apply
11.30% 11.30% Apply
11.70% 1.00%
Min Rs. 5,000 - Max Rs. 50,000
Apply
13.05% 1.25%
Min Rs. 7,500
Apply
11.80% 1.00%
Min Rs. 5,000
Apply
14.15% 0.53%
Min Rs. 2,670 - Max Rs. 80,100
Apply
11.30% 11.30% Apply
10.80% 1.00% Apply
12.25% 1.17% Apply
11.65% 1.20% Apply
11.90% 0.50%
Min Rs. 3,000 - Max Rs. 7,500
Apply
11.30% 11.30% Apply
10.20% 1.50% Apply
10.85% 0.62%
Min Rs. 890 - Max Rs. 8,900
Apply
10.75% 1.00% Apply
9.60% 1.00% Apply
11.50% 0.50%
Min Rs. 500
Apply

Enter Loan Information

Select Bank Name: *
Select Loan Type: *
Loan Amount: *
Annual Interest Rate: *
Loan Tenure(Year): *

Loan Against Property Eligibility

How much I can get?

The eligibility of Loan against Property is calculated on the basis of either the percentage of property value that you own and how much income you have that you can return the emi with.So you can get Loan against property upto annex % of property value and the net amount that you earn after other emi a percentage of that amount can go into the emi.

Loan against Property is given on below mentioned properties and the % that you can get loan is listed below.
  • Residential Property:-
  • Self Occupied – 65%
  • Vacant - 55%
  • Rented - 55%
  • Commercial Property:-
  • Self Occupied – 50%
  • Vacant - 40%
  • Rented - 40%
This varies from Bank to Bank in 5- 10% of above.

To calculate how much you can pay its looked by most banks in the below mentioned ways

For Salaried:-

{(NTH - Obligation) * 60%} / EMI per Lac

For Self-Employed:-

{(NTH - Obligation) * 65%} / EMI per Lac

Whichever is lower from the value of the property or your income- that loan amount will be given to you.
The other criteria are-Max. Age:-
For Salaried – 60 Years & For Self-Employed – 70 Years
CITI BANK
Eligibility Gross annual income of Rs 1,20,000 or above 23 years of age and above, Maximum age of 58 years or your retirement age, whichever is higher at the time of loan maturity, At least 3 years of work experience, Loans from Rs 2.1 Lakh to Rs 1 Crore. Avail loans up to 60% of market value of residential properties and 50% market value of commercial properties, The loan can be used by proprietors, self employed professionals, partnership firms and private limited companies
Tenure -
Interest Rate -
HDFC BANK
Eligibility Loans from Rs. 2 Lacs onwards depending on your needs, Borrow up to 60% of market value of the property, Flexibility to choose between an EMI based loan or an Overdraft - We also offer to you overdraft against your self-occupied residential or commercial property and you save money by paying interest only on the amount utilized!
High tenure loans for ease of repayment, Specially designed products for Self Employed
Tenure -
Interest Rate -
SBI BANK
Eligibility An Employee or A Professional, self-employed or an income tax assessed or Engaged in agricultural and allied activities, Your Net Monthly Income (salaried) is in excess of Rs.12,000/- or Net Annual Income (others) is in excess of Rs.1,50,000/-, The income of the spouse may be added if he/she is a co-borrower or a guarantor, Maximum age limit: 60 years
Tenure -
Interest Rate -

Check Your Eligibility For Loan Against Property with Various Banks

SBI, HDFC, Axis Bank, Bank of Baroda, Bank of India, Union Bank, DHFL, LIC Housing, SBP, Canara Bank, Allahabad Bank, ICICI Bank, Yes Bank, Citibank, PNB, uco bank, Indiabulls & others.

Use this tool for calculate your Loan Against Property Eligibility in Various Cities of India: List Below

Delhi/NCR, Mumbai, Kolkata, Chandigarh, Chennai, Bangalore, Ahemdabad, Jaipur, Aurangabad, Baroda, Bhiwadi, Bhopal, Bhubneshwar, Cochin, Coimbatore, Cuttack, Dehradun, Delhi, Faridabad, Gaziabad, Gurgaon, Guwahati, Hosur, Hyderabad, Indore, Jabalpur, Jamshedpur, Kanpur, Kochi, Lucknow, Ludhiana, Madurai, Mangalore, Mysore, Mumbai, Nagpur, Nasik, NaviMumbai, Noida, Patna, Pune, Ranchi, Raipur, Rewari, Sahibabad, Surat, Thane, Thiruvananthapuram, Trivandrum, Trichy, Vadodara, Vishakapatanam, Vizag

Loan Against Property Mustread

Loan against Property refers to the secured loan category like home loan where the borrower gives a guarantee by using his property as a security. The right of ownership of the property is still with the borrower, and if he/she is unable to repay the loan amount, he/she can sell the property to pay off the debts.


Typically these loans are used to start or expand business or to renovate your house. But it can also be used to repay existing high rate loans.

  • The maximum loan amount varies from bank to bank. It could range from Rs.2 lacs up to Rs.100 lacs. The exact amount depends on your property valuation, income and of course repayment capacity.
  • The rate of interest is usually 6.5%+, but depending on one's profile and the Bank's criteria, it may vary.
  • The maximum loan amount can come upto 50% of property value for commercial setups and up to 60% for residential properties.
  • The maximum loan tenure is 15 years.
  • You require security, collateral or guarantors for obtaining a Loan Against Property.
  • Most banks do not accept properties that are on lease or that are based on power of attorney.
  • The maximum age limit of eligibility is 60 years.
  • You can choose either Fixed or Floating rate of interest. You also have an option of changing from Fixed to Floating interest rates and vice versa once every year.
  • A processing fee is usually 0.05% to 3% of the loan amount and is payable upfront. This fee however will be deducted from the disbursal amount payable to you. You should always ask for the 0% processing fee or negotiate the processing fees.
  • You pay your loan in EMIs through post-dated cheques or through ECS to debit your Bank account through ECS with the EMI amount.
  • You can also prepay the entire loan outstanding anytime after 180 days of availing the loan. Pre-payment charges will be levied accordingly. If you intend to do so, please ask for the pre-payment amount to be waived or a reduction in the penalty charges.
  • You can also increase or enhance your loan loan against property eligibility. For that you need to show income of atleast three persons, most preferably a family member or a business partner.

Also know these pointers before availing a LAP:

  • Decide on the basis of what you really need. Also see if the cost fits into your estimated budget.
  • Compare the quotations given and interest rates from 3-4 banks, select the one which offers maximum benefit and serves your purpose.
  • Also determine the tenure of the loan. The EMI may come less for longer tenure, but the total interest outgo will be higher.
  • Know all about processing fees and time. Some banks may waive the processing fee for processing loan but they build this cost on their interest rates.
  • Consider pre-payment options. All banks charges 2% - 3% of the loan in case you decide to pre-pay the outstanding amount.
  • Default in payments results in penalties. It can also adversely affect your credit history and profile. So make sure to make your payments on time.
  • Make sure that all deals and offers agreed upon are supported by relevant papers. So make sure you always ask for a letter in a banks letter-head mentioning the likes of, exact rate of interests, processing fees, pre-payment charges along with interest-schedule.
  • Also before signing the documents, make sure you recheck all terms and conditions.
  • Do not at any circumstance give any false information. This may amount to fraud and could land you in trouble.
  • Do not sign any blank documents. Even if it takes you a few hours to fill-up the form, please do so. Do not
  • leave anything for the executive to fill-up.
  • Finally, once you have received a loan do your best to pay it back as quickly as possible. Banks make their money off the interest they charge and the sooner you pay back a loan the less money you will have to pay in interest.

FAQs on Loan Against Property

A Loan Against Property is essentially a loan given against any property. The loan can be taken against fully constructed, residential, and commercial properties for business needs, marriage, medical expenses or any other personal needs.

Any Resident Indian Individual (salaried/ self-employed) can apply. The co-applicants can be close relatives, partnership firms, or even a Private Limited Company.

Salaried Customers need to submit their last 2 month’s salary slip, 6 months bank statement, form 16 and ITR and documents related to running loans.

Self Employed customers need to submit complete set of ITR and Financials for last two financial years, 6 months CA statement and documents related to running loans.

We offer this Loan Against Property for max tenure of 10 years.

Loan to Value (LTV) is a term that is used to express the ratio of a loan to the value of the asset mortgaged. The loan is usually offered in the range of 60% to 70% of the market value of the property.

It would take minimum of 4 working days after submission of required documents.

Repayment can be made by way of EMIs and must be made through Automated Clearing House (ACH) or Electronic Clearing System (ECS).

Normally a guarantor is not required; however, this would also depend upon the loan facility and financial strength of the customer. However, every loan to have either co-borrower or guarantor.

You will receive expert legal and technical counselling that will help you make the right financial decision.

The process Loan Against Property disbursement is as follows:

  • Submission of documents

You’ll have to submit a set of documents (see ‘Eligibility & Documents’ page for details) depending on your loan application documents you’ve handed in

  • Sanctioning of Loan

Your credit worthiness is calculated by Bajaj Finance, based on your income, age, employer or firm with whom you work, and CIBIL report. If you are self-employed then your nature of work, bank statements, and CIBIL report, and then plans out the maximum loan amount that Bajaj Finance can offer you. You are then issued a Loan Sanction Letter.

  • Acceptance of Loan

If you agree with the terms and conditions of the loan, you will have to submit a signed duplicate copy of Loan Sanction Letter.

  • Disbursement of Loan

The loan will be disbursed once all relevant papers of the property have been verified, all pertinent documents have been submitted, and the loan agreement has been executed.

You can update your contact information in the following ways

  • By calling us on 020 3957 4151 (call charges apply)
  • By calling us on our toll-free number: 1800 209 4151
  • By using your registered email id to visit us at: https://www.bajajfinserv.in/reach-us along with scanned copies of your address proof and photo identity

You can also visit our nearest branch along with the original and self-attested copies of your new address proof.

Your EMI consists of two parts—paying back the principal amount you borrowed, plus the interest rates charged ‘on’ it. Three factors come into the equation—how much you borrowed, the rate of interest, and the loan tenure. There are ways to bring your EMI down: for one, it drops automatically if there is a decrease in interest rates, or if you pay back more than you need to (called a ‘partial prepayment’).

You can easily increase the amount you pay in EMIs in the following ways:

  • Login into our customer portal Experia
  • You can visit us at: https://www.bajajfinserv.in/reach-us
  • You can call us on 020 3957 4151 (call charges apply)

An amortization schedule is a table giving the reduction of your loan amount by monthly instalments. The amortization schedule gives the break-up of every EMI towards repayment of interest and the outstanding principal of your loan.

When interest rates go up, the interest component of an EMI also goes up. The EMI is kept constant but will result in a lower principal component. If the rates move up continuously, then there might be a situation where the interest Component becomes more than the EMI. In such a situation, principal component (EMI minus interest component) gives a negative figure. Consequently, the outstanding balance, instead of being reduced from the opening principal with the principal component, gets increased with the negative principal component. This is commonly referred to as negative amortization.

A loan where the amortization is negative does not get repaid, since the regular payments are insufficient to cover the interest component. The unpaid interest gets added to the principal and makes it grow. The situation gets reversed only when interest rates start falling. In this situation, the customer has to part-prepay the loan amount, increase the EMI of the loan, or do both.

In case of a loan with a floating interest, the interest component is subject to change. When the rates change, one of the following two changes can be done to a loan:

  • The term of the Loan is extended (when rates go up) or contracted (when rates go down)
  • The EMI amount is reset (increased in case rates go up & reduced in case rates come down)

As a practice, the term of the loan is extended since the customer might have given post-date cheques and it would be difficult to replace them on every rate change. However, in case of under construction properties, the Pre-EMI amount is increased by default.

You can choose any of the above options according to your convenience. The default option is to change the EMI to match the balance tenure of a loan.

The pricing increase happens only in the scenario of an increase in the Cost of Funds. Pro-active repricing policy is being put in place as a proactive measure to ensure that there is no inordinate increase in your loan pricing against new acquisitions and there is always parity for your loan.

As a goodwill gesture and to maintain transparency with our valued existing customers, Eazy Bank Loan ensures, through our pro-active downward re-pricing strategy, that none of our existing customers are more than 100 bps over and above the last 3 months average sourcing rate. If a customer is higher than 100 bps from our last 3 months average sourcing rate, we carry out downward re-pricing of the rate of interest for all such customers to bring them to max 100 bps above the last 3 months average sourcing rate. This is a bi-annual exercise. This is yet another Industry first for any NBFC in the country.

Property Dossier is another industry-first, value-added service offered to mortgage customers of Eazy Bank Loan. It is a customized report that guides the customer through all legal and technical aspects of owning a property in a simple and crisp manner. It also covers general property knowledge tips as well as all macro factors like property index of the city, important property tips, etc.

You can avail a Loan Against Property for the following:

  • Self-Occupied Residential
  • Rented Residential / Commercial
  • Vacant Residential / Commercial
  • Shared Property

You can not avail a Loan Against Property for the following:

  • Plot
  • Property outside city/municipality limit
  • Property with tenants for more than 5 years (with no renewed rent agreement)
  • Property with structural flaws that requires substantial repairs
  • Property constructed on agricultural land/farm land
  • Illegal properties
  • Property already mortgaged with other banks
  • Residential property used for commercial purposes without approval from competent authority
  • Under construction property except NRP transaction
  • Industrial property
  • Schools or hostels
  • Hotel

The TAT for issuance foreclosure statement is typically 12 working days

For such matters you can escalate to the concerned person mentioned below

Product Contact Person Mobile Number Email Id
Home Loan (North West)
Home Loan (South East)
Rural Loan
Loan Against Property
Lease Rental Discounting
Developer Finance
Professional Loans

Loans Against Property

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