Loan Against Property offers for you

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RBL Bank Loan Against Property

LOAN UPTO

₹ 5,00,00,000

interest

ESTIMATED RATE

12.5
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

1 - 15 years

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Edelweiss Loan Against Property

LOAN UPTO

₹ 25,00,00,000

interest

ESTIMATED RATE

11.75
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

1 - 15 years

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Kotak Bank Loan Against Property

LOAN UPTO

₹ 1,00,00,000

interest

ESTIMATED RATE

10.75
fees

PROCESSING FEES

0.75%
tenure

AVAILABLE TENURES

1 - 10 years

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PNB Housing Loan Against Property

LOAN UPTO

₹ 5,00,00,000

interest

ESTIMATED RATE

9.75
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

3 - 15 years

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Standard Chartered Loans Against Property

LOAN UPTO

₹ 15,00,00,000

interest

ESTIMATED RATE

10.25
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

5 - 15 years

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Axis bank Loan Against Property

LOAN UPTO

₹ 5,00,00,000

interest

ESTIMATED RATE

10
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

1 - 15 years

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ICICI Bank Loan Against Property

LOAN UPTO

₹ 10,00,00,000

interest

ESTIMATED RATE

11.85
fees

PROCESSING FEES

0.75%
tenure

AVAILABLE TENURES

10 - 15 years

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DHFL Loan Against Property

LOAN UPTO

₹ 15,00,00,000

interest

ESTIMATED RATE

11.5
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

1 - 15 years

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Capital First Loan Against Property

LOAN UPTO

₹ 10,00,00,000

interest

ESTIMATED RATE

9.50
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

3 - 15 years

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Tata Capital Loan Against Property

LOAN UPTO

₹ 5,00,00,000

interest

ESTIMATED RATE

12
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

1 - 15 years

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DBS Bank Loan Against Property

LOAN UPTO

₹ 15,00,00,000

interest

ESTIMATED RATE

9.65
fees

PROCESSING FEES

0.25%
tenure

AVAILABLE TENURES

5 - 25 years

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Deutsche Bank Loans Against Property

LOAN UPTO

₹ 15,00,00,000

interest

ESTIMATED RATE

10.25
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

5 - 15 years

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HDFC Limited Loan Against Property

LOAN UPTO

₹ 50,00,000

interest

ESTIMATED RATE

9.5
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

1 - 15 years

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Magma Loan Against Property

LOAN UPTO

₹ 1,00,00,000

interest

ESTIMATED RATE

16
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

3 - 20 years

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IndusInd Loan Against Property

LOAN UPTO

₹ 5,00,00,000

interest

ESTIMATED RATE

10.75
fees

PROCESSING FEES

2%
tenure

AVAILABLE TENURES

1 - 5 years

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Aditya Birla Finance Limited Loan Against Property

LOAN UPTO

₹ 10,00,00,000

interest

ESTIMATED RATE

11
fees

PROCESSING FEES

1%
tenure

AVAILABLE TENURES

3 - 15 years

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Aditya Birla Housing Finance Loan Against Property

LOAN UPTO

₹ 10,00,00,000

interest

ESTIMATED RATE

11
fees

PROCESSING FEES

2%
tenure

AVAILABLE TENURES

3 - 15 years

View all Features & Details

About Loan Against Propert

Loan against property or mortgage is a financial assistance offered by the banks or lenders based on the commitment of security. Also known as property loan, in this type of loan, the property is used as security to avail the loan amount. Such property can be a piece of land, or your residence or a commercial building. The loan against property is based on the current market value of the property or security. The disbursed loan amount can vary up to 40 to 60 per cent of the property value.

Mortgage loan or loan against property is a type of secured loan. In the case of repayment default in loan against property, the lender has the authority to recover the amount by auctioning or selling the property which is used as security to avail the mortgage loan.

When Should We Avail Loan Against Property?

It is wise and ideal to apply for a loan against property across the below situations.

Expansion of business

Fund a much-anticipated vacation

Clearing of the huge burden of medical bills

Fund a wedding

Fund higher education of children

List of Eligibility Criteria Set by the Lenders for Loan Against Property

The eligibility criteria vary across banks and financial institutions for a loan against property. The eligibility for a loan against property highly depends on the equity of the property and the borrower. The basic eligibility criteria, which borrower needs to fulfil includes:

Eligibility Requirements for the Salaried Individuals

Must be a permanent employee of a reputed company or government-run organisation

Minimum age of the applicant should be between 24 to 65 years

A borrower can work in any field such as architect, engineer, chartered account or doctor

Eligibility Requirements for the Self-Employed Individuals

Must adhere to the guidelines of income tax returns

Must have a stable business which is running at least for three years

Eligibility of the Property, Against Which the Loan will be Availed

Property titles should be on the name of the borrower

The property should not have any legal tangles

Difference Between Personal Loan and Loan Against Property

To avail a personal loan, the borrower does need to submit any security, thus it is referred to as unsecured loan. Whereas, the loan against property is availed with security or mortgage

Since the loan against property is a type of secured loan, the lenders are at a lower level of risks. Thus, such loans comers at lower rates of interest than personal loans

The maximum repayment tenure for a personal loan extended up to five years. However, the repayment tenure for a loan against mortgage is much higher and can extend up to 15 years

In the loan against property, you can use an idle property to secure the loan amount

The personal loans are offered based on the equity and repayment capabilities of the borrower. Thus, the loan amount can vary. On the other hand, the loan amount of loan against property is fixed based on the value of the property

List of Documents Required for the Evaluation the Application of Loan Against Property

Valid residence proof

The government provided or approved valid identity proof

Six month’s salary slip for the salaried individuals

Last three years certified financial statement for the self-employed individuals

Latest bank statement copies

A duly filled application form with latest passport size photograph

The self-employed individuals must submit the proofs of business existence and educational qualifications

Duly filled and signed cheque for the processing

Proof of income tax returns

Details of existing loans, if any

Mortgage Loan’s Interest Rates

The lenders offer two types of interest rates to the borrowers in loan against property.

Adjustable Interest Rates

In this type of interest rates, the to be paid interest on the loan against property may vary based on the market conditions. Choosing of this option can be beneficial for the borrowers if the loan is secured for a shorter duration

Fixed Interest Rates

This type of interest is pre-decided and fixed across the loan repayment tenure

Loans against property: Advantages

The loan against property comes with a plethora of advantages. Below is a list of key advantages offered by a loan against property.

Offer greater repayment tenure of 10 to 15 years. This helps in keeping the burden of EMI at the lower side

Loan against property is affordable and can be availed in lower interest rates

The loan amount depends on the market price of the property which is used to secure the

EMI Calculator of Loan Against Property

The EMI can be calculated by using the below formula.

EMI = [P x R (1+R) N]/ [(1+R) N-1]

P= Principal loan amount

R= Rate of interest

N= Repayment tenure in number of months

List of Major Lenders Offer Loan Against Property in India

Almost all the major banks and financial institutions in India offers loan against property. Below is a list of top lenders who are known for providing affordable loan against property. 1) State of Bank of India, 2) ICICI Bank, 3) Bank of Baroda, 4) HDFC Bank, 5) Axis Bank, 6) Kotak Mahindra Bank, 7) IDBI Bank, 8) Citibank, 9) PNB Housing Finance, 10) Standard Chartered, 11) DBS Bank, 12) United Bank of India, 13) Canara Bank, 14) Allahabad Bank, 15) HSBC Bank, 16) Corporation Bank, 17) Central Bank of India, 18) Indian Overseas Bank, 19) IndusInd Bank, 20) Syndicate Bank, 21) Bajaj Finserv 22) Indiabulls Home Loans, 23) DHFL, 24) Tata Capital

If you are planning to avail a loan against property, Rubique can assist you to secure it with simple, quick and hassle-free documentation process. Do contact us today to get your loan against property.