Financial Bazaar

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Financial Bazaar

For Your Better Tommorrow...
Be live

Learn More

LOAN AGAINST PROPERTY

When looking for a loan against property, the first question that comes to mind is how much I can get "KitnaMilega?"



The answer to the "KitnaMilega" question is based on a) the percentage of property value you own and b) the amount of income you earned after you paid for other EMIs you can use to repay this new loan. So you can acquire a loan against the property up to a positive percentage of the worth of the property and your net pay.

A restrictive factor for being presented for a loan against property is Extreme Age. For employees, the maximum age to qualify is 60 years and for the self-employed; the maximum age is 70 years.


Find out how much you qualify for and get a quote from the major banks with our eligibility calculator.

The loan against property can be taken for the following purposes:


  • Expanding your business

  • Get your child married

  • Send your child for higher studies

  • Financing medical treatment

  • Characteristics of a loan against property


  • Cheaper than Personal Loans: it turns out to be much cheaper than a personal loan, which is usually issued at interest rates in the region of 16% - 21%.

  • Long-term tenure: the period of a loan against property is typically stretched than that of a personal loan. Normally, LAP is given for an extreme duration of 10 years.

  • Lower EMI: As the interest rate is lesser, many times the equal monthly LAP (EMI) payments are inexpensive than personal loans.

  • Simple credentials and fast approvals: LAP presence a safe loan has reasonably quicker approvals and nominal documentation.

  • Percentage of loan that you can get on different types of property is listed below:

    Residential Property:- Commercial Property:-
    Self Occupied – 65% Vacant - 55% Rented - 55% Self Occupied – 50% Vacant - 40% Rented - 40%