Loan Against Property is one of the best options for financial assistance which comes at a much lower interest rate as compared to any other loan products. Be it funding your child’s education, wedding or even for business related investments, Loan Against Property rightly serves the purpose. It’s a secured loan that lets you avail a large amount with no urgent repayment.
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Requirement for Online Loan Against Property Application
The eligibility criteria required to be fulfilled to avail a loan against property is as follows:
The documents required to avail a loan against property (both salaried and self-employed individuals) are as follows:
Loan Against Property Application Process
Here are the basic steps to apply for Loan against Property
Charges for Loan Against Property
Here are the Interest Rates & Charges Applicable on Loan Against Property
Type |
Charges Applicable |
Interest Rate |
8.80% onwards |
Processing fees |
Usually up to 1% of the loan amount |
Foreclosure charges |
Usually 4% of outstanding loan amount + applicable taxes |
Prepayment Charges |
NIL |
Factors Affecting the Disbursal Limits of Loan Against Property
Here are some of the factors that affect the disbursal limit of Loan against property:
Bajaj Housing Finance Limited
Interest Rate
8.75% p.a. to 10% p.a.
Bajaj Housing Finance Limited
Associated Charges
Processing Fees: Up to 0.40% of loan amount plus applicable charges
Bajaj Housing Finance Limited
Repayment tenure
Up to 360 months
Bajaj Housing Finance Limited
Eligibility Criteria
Bajaj Housing Finance Limited
Documents Required
PNB Housing Finance
Interest Rate
9.50% p.a. – 10.15% p.a. (for both salaried and self-employed applicants)
PNB Housing Finance
Associated Charges
Processing Fee: 1% of the loan amount
PNB Housing Finance
Repayment tenure
PNB Housing Finance
Eligibility Criteria
PNB Housing Finance
Documents Required
Home First Finance Company
Interest Rate
Home First Finance Company
Associated Charges
Processing Fees: 1 - 1.5 % of loan amount
Home First Finance Company
Repayment tenure
12 months to 240 months
Home First Finance Company
Eligibility Criteria
Home First Finance Company
Documents Required
Who can avail Loan Against Property?
Loan Against Property can be availed by salaried or self-employed individuals, residing in India.
What are the documents required for Loan Against Property?
Identity proof, address proof, salary slips, bank statements, property documents are some of the documents required for Loan Against Property.
What is the maximum possible tenure?
The maximum repayment tenure is usually up to 360 months.
What is Loan to Value?
It is the ratio of the amount of loan you want to borrow to value of the asset mortgaged.
Why choose Finserv MARKETS?
Smooth online process, minimal documentation requirements, complete transparency during the Loan Against Property application process are some of the reasons, why you should choose Finserv MARKETS.