A loan that is offered by a bank or financial institution against mortgage of property with less interest and longer repayment option.
A property loan is offered by a financial institution against mortgage of property. We help you with real-time details on eligible loan amount, rate of interest, EMI schedule and applicable charges. We also negotiate with banks on your behalf to save on interest rates.
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PF & ST - Processing Fee & Service Tax ,
ROI - Rate Of Interest,
EMI - Equated monthly Installment
Below Bank Eligibility Meets Bank Eligibility
Selected Business Partner
Loan Amount :
Total Interest Payable
Loan Eligibility :
Rate of Interest*
Total Loan Cost :
* Rates are subjected
* Rates are indicative only. Final rates may depends on the customer profile.
- Property loans start from Rs. 3.5 lakhs and can go up to 70% of the property value subject to eligibility and have an interest rate of 11 - 15%.
- The loan can be repaid over a period of 15 to 20 years.
- The value of the property to be mortgaged is determined by the lender’s Architect team called the Valuer.
- This loan can be availed against residential, commercial and industrial properties.
- The loan takes a minimum of 15 - 20 days to be processed.
- Banks usually take into account factors such as the borrower’s income, age, property value, existing liabilities, current work experience, financial documents and number of dependents before ascertaining the loan value.
- Property loans are repaid through Equated Monthly Installments (EMIs) that comprise both the principal and interest.
- The entire outstanding loan can be prepaid with an additional fee which is usually 2 - 4% of the outstanding principal. Some bank offers prepayment facility after 6 EMIs.
|The loan can only be used for the cost of construction or property intended to be a house.
||The loan can be used to fund any personal expenses such as vacations, home renovations, etc.
||The loan can be used for any purpose as the borrower deems fit including personal expenses.
|The rate of interest is usually 9.85-12%
||The rate of interest is usually 16 - 21% and can go upto 30%
||The rate of interest is usually 12 -16%
|The loan can cover upto 80% of the value of the property but 20% is required as downpayment
||The loan is available from Rs. 50,000 upto Rs. 30 lakhs
||The loan is available from Rs. 10 lakhs upto Rs. 3 crores
|Maximum loan tenure can go upto 30 years
||Maximum loan tenure is 5 years
||Maximum loan tenure is 15 years and can sometimes extend to 20 years
Q: Does the property have to be insured?
A: It is not required but is advisable to offset risk.
Q: Are there additional charges or fees?
A: Yes, there are usually processing fees and other charges. They vary from bank to bank.
Q: What happens when the loan is not repaid?
A: The property can be repossessed by the lender to recover the outstanding loan amount. To allow recovery of the loan amount, courts can order foreclosure (sale in the open market to recover dues) of the property.
21 years of age for salaried individuals and 25 for self employed
58 years of age for salaried individuals and 65 for self employed
Salaried/ Self-employed professionals and nonprofessionals
*These are general terms only. Policy norms vary from bank to bank and customer to customer.
PAN Card, Passport, Driving License, Voter ID, Aadhar
Card, Ration Card.
PAN Card, Passport, Driving License, Bank Verification
Passport, Driving License, Voter ID, Aadhar Card,
Mobile/Land Line Bill, Rental Agreement, Ration Card, Gas Bond with Bill, Sale Deed,
Property Tax,Electricity Bill, Aadhar Card.
6 Months Bank Statement.
Latest 3 Months Payslips.
Company 3 years ITR's- Saral
copy, Computation of Income, Profit and Loss Account, Balance Sheet with Schedules.
Business Registration certificate, Business Continuity
Proof,OD/CC Sanction Letter.
All Directors KYC, Company PAN Card, Individual ITR,
Patnership Deed, Provisional or VAT return copies along with VAT certificate copy,
OD/CC Sanction Letter.
All Directors KYC, Company PAN Card, Individual ITR's,
MOA/AOA, Share holding Pattern, Board Resolution.
Sale Deed Copy/Agreement Of Sale, 15 Years Link Documents,15 Years Encumbrance Certificate, Municipal Sanction Plan,Latest Property Tax Receipt (incase of resale property) & Vendor Pan Card, LRS required for plot loans, Layout copy for plot loans