✓ Loan Against Property from ₹2 Lakhs to ₹15 Cr ✓ Multiple Lending Partners ✓ Interest Rates Starting @ 8.99%

When you apply for a Loan Against Property, lenders carefully consider your eligibility towards it. The eligibility criteria for LAP include your age, income, nature of employment, and property valuation.

Below are some of the main criteria for loan against property.


Minimum Requirements for Salaried Individuals

Minimum Requirements for Self-employed Individuals


Between 21 and 68 years of age

Between 23 and 70 years of age

Status of Residence

The individual in question should be a permanent resident of India

The individual in question should be a Resident of one of the following cities: Mumbai, Delhi, Hyderabad, Kolkata, Thane, Ahmedabad, Bangalore, Pune, Udaipur, Chennai, Surat, Vizag, Aurangabad, Indore, and Cochin

Employment status

Should be a salaried individual who is either employed at a PSU, a private company or a Multinational Corporation

Should be a self-employed individual with a steady source of income

Maximum loan tenure available

Flexible repayment tenure of up to 25 years

Flexible repayment tenure of up to 25 years

Maximum loan amount

Up to ₹15 Crores

Up to ₹15 Crores


Other Partner Banks Loan Against Property Eligibility Criteria


Maximum LAP Value

Age Limit

Minimum Monthly Income

Bajaj Housing Finance Limited LAP

Up to 1 Cr

23-60 years of age

Subject to lender discretion

PNB Housing Finance Limited LAP

Up to 15 Cr

23-68 years of age



Up to 5 Cr

21-60 years of age



How to Improve Eligibility for Loan against Property?

  • Pay off existing debt: Reducing your current EMIs helps you qualify for a larger loan. You can understand this relationship by using the loan against property eligibility calculator.

  • Apply jointly: Having a co-applicant who has a strong income profile and credit score improves your loan against property eligibility.

  • Boost your financial profile: Disclosing secondary sources of income, like rental income, and bolstering your credit score are sure ways of availing more financing.

  • Approach a familiar lender: Borrowing from a lender you already have a relationship with helps reduce your risk profile and can help you secure the funds you need more easily.

  • Keep the LTV reasonable: Maintaining a high loan-to-value ratio increases the lending risk. Apply within limits to increase your loan against property eligibility.

Loan Against Property Eligibility Calculator

The Loan against property eligibility calculator is an online tool that provides an estimate of how much finance you can avail. It considers factors such as your place of residence, current income and financial obligations, and loan variables like the interest rate and tenure.

Loan against property eligibility depends on multiple factors including the market value of your property, your employment status and type, your age and financial status. Before approving the loan amount, your lender will carry out a detailed analysis.

However, to get a quick estimate of how much you can apply for, basis your current financial position, use a LAP eligibility calculator.

How to use Loan Against Property Eligibility Calculator

  1. Enter your location of residence, your net income, and the EMI amount.

  2. Then, click on the button that reads “Calculate Now”

You should be able to see a page containing information on whether you are eligible for a Loan Against Property, and if so, what is the maximum amount you can apply for.

What are the Benefits of Using Loan against Property Eligibility Calculator?

  • Know your LAP loan eligibility: If your current financial obligations are too high for your income, the LAP loan eligibility calculator will indicate that you are not eligible for financing.

  • Plan for a higher loan amount: You can tweak your salary and EMIs to understand how boosting your monthly income or clearing loans impacts the loan amount.

  • Pick the right loan variables: If the LAP eligibility calculator allows you to change the tenure and interest rate, you can know how these factors affect the amount you can borrow.

  • Avoid rejections: Knowing your LAP eligibility helps you apply for a loan that is in keeping with your financial position. If you apply for too much, your application may be turned down.

  • Offer the right property as collateral: With an estimate of how much you can borrow, you can pledge a property that keeps your LTV ratio reasonable.

Documents Required for a Loan Against Property

The documents required to avail a loan against property are as follows:

  1. Latest salary slips as income proof

  2. Last 3 months bank account statements

  3. PAN Card/Aadhaar Card

  4. Address Proof

  5. Copy of the documents of the property to be mortgaged

  6. IT returns

How to Repay Loan against Property

You repay your loan through Equated Monthly Instalments (EMIs). Several lenders allow borrowers to prepay their loans in part or full at the cost of nil to minimal foreclosure fees.

You can forecast your EMI and plan for repayment with the Loan Against Property EMI Calculator. Check more features and benefits of loan against property and apply now, only at Bajaj Markets.

LAP Eligibility Calculator FAQs

✔️What are the Criteria for a Loan Against Property?

Eligibility criteria for loan against property depend on factors such as:

●   Value and type of property to be mortgaged

●   Your current income and profession

●   Your current financial obligations

●   Your age

●   Location of property

●   Loan variables like the amount and tenure


If you are a salaried individual, for example, you will have to be anywhere between 23-60 years of age and an employee of a company of repute for at least a couple of years. A self-employed person, on the other hand, will have to be at least between the age range of 25-70 years and the owner/partner of a business that has been steadily earning profits for three years at the very least.

✔️How Much Loan Against Property can be Availed by an Applicant?

You can avail up to ₹15 Crore as a Loan Against Property. However, for a better estimate on how much you should apply for based on your financial profile, use an eligibility calculator for loan against property.

✔️How Long can the Repayment Tenure for a Loan Against Property be?

The loan repayment tenure over which you are required to pay off your loan against property EMIs can range up to 25 years. The actual tenure depends on factors such as your age, borrower type and the loan against property amount. You can learn more about the same on Bajaj Markets.

✔️What Security is Required for a Mortgage Loan Approval?

A mortgage loan, which is also known as a loan against property, is only approved by a lender upon the borrower offering a residential or a commercial property which is in their name as security.

✔️Who can be a Co-Applicant for Loan Against Property?

Yes, more than one person can jointly apply for a loan against property. However, only those people who are directly related to the property owner by blood can be co-applicants. The owner’s daughter, however, can only be a co-applicant if she is single.

✔️What is the Minimum Monthly Income Required by Lenders to Avail Loan Against Property?

If an individual is earning ₹25,000 or above per month through their source(s) of income, they should be able to receive a loan against property. However, there are other factors that lenders take into consideration while processing the application for the same.

✔️What is the Minimum and Maximum Age Criteria for Loan Against Property?

A prospective borrower will need to be at least 21 years of age and at most 70 years old at the time of applying for a loan against property.

✔️Can an NRI take a Loan Against Property?

As long as the prospective borrower in question owns a residential and/or commercial property in India, they can apply for a loan against their property.

✔️Does a Loan Against Property Offer Tax Benefits?

  1. Section 37 (1): This is applicable when the LAP is used towards business expenses. Note that:

●   The expense should not be covered under Sections 30-36 of the same, such as the cost of advertisement

●   The expense incurred must not be of a capital nature

●   The expenses must have been incurred in the previous financial year

●   The expenses incurred must be wholly for business and professional purposes


  1. Section 24 (b): You can claim a deduction when you use the LAP to purchase a new house. You must be a salaried individual and should be able to establish a link between the LAP and the new house purchased. You can claim up to ₹2 Lakhs on interest repayment. However, you cannot claim a tax benefit for using the LAP to renovate the mortgaged property.


  1. Section 80C: There are no tax benefits for LAP borrowers.