LOAN AGAINST PROPERTY

A loan against property is a secured loan where you pledge your property, like a house or land, as collateral. This loan enables you to borrow a lump sum amount based on your property's value, with a loan against property interest rate typically lower than unsecured loans. The loan is repaid in easy installments, offering flexible terms for borrowers.

To apply for a Loan Against Property, you must be an Indian citizen. Your age must be between 21 and 60 years. Basic documentation, such as a selfie, PAN card, and Aadhaar card, is required. Income proof may be necessary for select high-value loans, depending on your credit profile. The loan is available to self-employed professionals, salaried individuals, small business owners, and MSMEs.

The maximum loan amount you can get against your property depends on factors like the value of the property, your income, and your credit profile. Typically, you can borrow a significant percentage of the property's market value, with the final loan amount determined during the application process.

Here are the documents required for loan against property: • Basic KYC Documentation: Submit identity and address proof for verification (e.g., PAN card, Aadhaar card). • Single Deed Property Document: Provide a clear and legally valid property ownership document. Additional documents may be required based on the loan amount and your profile.

Both commercial and residential properties are eligible as collateral for a Loan Against Property. This includes properties like houses, apartments, offices, and commercial buildings, provided they are legally owned and free from any disputes.