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Loan Against Property EMI Calculator

 

As you are planning to go for Loan Against Property, EMI plays an important role. Will EMI fit into your monthly budget or not is an important factor. That’s why EMI calculator will help you come out of this dilemma. It will help you identify your monthly repayments, total interest payable and total

 

Advantages of choosing Loan Against Property

Advantages of choosing Loan Against Property

Low Interest Rates

Rate of Interest ranges between 10% to 15 % .

Easy to avail

As it is a secured loan, banks are more willing to provide these loans.

Long Tenure

Longer tenure up to 15 years.

Low EMI

As the loan payment tenure is of longer duration, the EMI is also low. It becomes suitable for customers who can’t afford to pay higher EMIs. 

Quantum for loan is higher

The maximum and minimum amount that can be withdrawn using the plan varies depending on the bank. You can apply for a lower amount also as per your requirements.

Fast Online Process

One can easily apply online for Property Loan. 

Minimal Documentation

Easy and hassle-free process with instant cash approval.

Categories Of Loan Against Property

Regular Loan Against Property

This loan fulfills any kind of personal and business needs which may include business expansion, acquiring assets, etc.

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Loan Against Property Overdraft

This loan is availed by customers who expect to have surplus income or fluctuating income during the year.

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Loan Against Property Top Up

Loan Against Property Top Up an additional loan amount customer can avail on existing Loan against Property.

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Eligible For Loan Against Property

Am I Eligible For Loan Against Property?

LAP are provided by most of the banks/NBFCs but with different eligibility requirements & needs. However, most of the eligibility criteria are almost same. Now days you can instantly check online your eligibility before applying for the Loan Against Property.

The eligibility criteria to get an instant approval online for Loan Against Property are mentioned in the table below. Please go through before applying online:

Is Loan against Property the best choice for me?

If you’re unable to meet any of your financial requirements may be business or personal. Then Mortgage Loan is the best choice for you. This Mortgage Loan offers you a high loan amount ranging from 5 Lakhs to 15 Crores.

The interest rates start from 10.00% p.a. Even the repayment options are available as per your suitability. And moreover there is flexible tenure of 1 year to 20 years.

Loan against Property the best choice

What Documents Are Required To Apply For LAP?

Below mentioned are the common documents which are required for applying for Loan against Property

KYC Documents which include PAN Card, Aadhar Card, Voter ID for Identity & Age Proof


Residence proof –Passport, Driving License, Registered Rent Agreement


Latest Salary Slips


Bank account statements of the previous 3 months


Copy of the documents of the property to be mortgaged


IT Returns

 

For SalariedFor Salaried

KYC Documents which include PAN Card, Aadhar Card, Voter ID for Identity & Age Proof


Residence proof –Passport, Driving License, Registered Rent Agreement


Completely filled LAP application with photograph


Bank Statements for the last 6 months


Copy of the documents of the property to be mortgaged

 

 

For Self- employed For Self- employed

Steps To Apply For Loan against Property

 

Apply For Loan against Property

This loan fulfills any kind of personal and business needs which may include business expansion, acquiring assets, etc. Lowest interest charged on Loan against property is 8.80%. All banks and NBFCs provide property loan for these purposes: like for loan against residential property, while only selected banks offer loans against commercial property. Financing companies are typically more open to extend loans against residential property. Very few NBFCs and bank offer loans against industrial property..

 This loan is availed by customers who expect to have surplus income or fluctuating income during the year. This facility allows you to deposit the available surplus amount for any period which can be as short as few days in your Loan against property account and reduce your interest liability. This option is highly suitable for self employed businessmen or professionals who have fluctuating funds requirements throughout the year.

 This is an additional loan amount customer can avail on existing Loan against Property. Top up can be taken either from the existing bank or can be availed at the time of transferring your outstanding property loan amount from one bank to other bank to avail low interest rates. Top up amount eligibility may vary from bank to bank based on your income and value of the property and needs a thorough comparison.