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Loan Against Property @ 7.20%

Financeseva has taken initiate to make your Loan process ever more easier by making your Loan Process Hassle - Free from Documentation to Disbursal.
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Loan Against Property
Bank Name Interest Rate Range (%) Processing Fee (%) Maximum Loan (Lacs) Maximum Tenure (Month)
7.50% - 8.50%
1 %
1500
180
8.25% - 9.25%
1 %
1500
180
8.35%-9.35%
1 %
2500
120
11.70% - 12.00%
1 %
1000
120
10.80% - 12.80%
1 %
500
120
7.20% - 8.00%
1 %
1000
180
8.00% - 9.00%
1 %
1000
180
7.25% - 8.00%
0.50%
3500
180
7.50% - 8.50%
1 %
1000
180
7.75% - 8.75%
1 %
2500
180
8.25% - 9.25%
1 %
1500
180
11.80% - 13.80%
1 %
2500
180
9.50% -11.50%
1 %
750
180
12.25% - 15.00%
1 %
2500
180
9.00% - 12.50%
1 %
1000
180
7.25% - 8.25%
1 %
2500
180
8.00% - 10.00%
1%
200
180
9.00% - 10.00%
1%
1000
180
8.70% -9.80%
1
500
120
13.05% - 15.05%
1 %
2500
180
10.70% - 11.00%
1%
1500
180
7.50% - 8.0%
1%
1500
180
8.45% - 10.00%
1%
750
120
9.40% - 10.00%
1%
200
120
9.80% - 10.80%
1%
1000
120
10.75%- 11.75%
1%
1000
120
8.00% - 10.00%
1%
1000
180
8.00% - 10.00%
1%
1000
180
Bank Name Key Features
Interest rate

7.50% - 8.50%

Max loan amount

1500

Interest rate

8.25% - 9.25%

Max loan amount

1500

Interest rate

8.35%-9.35%

Max loan amount

2500

Interest rate

11.70% - 12.00%

Max loan amount

1000

Interest rate

10.80% - 12.80%

Max loan amount

500

Interest rate

7.20% - 8.00%

Max loan amount

1000

Interest rate

8.00% - 9.00%

Max loan amount

1000

Interest rate

7.25% - 8.00%

Max loan amount

3500

Interest rate

7.50% - 8.50%

Max loan amount

1000

Interest rate

7.75% - 8.75%

Max loan amount

2500

Interest rate

8.25% - 9.25%

Max loan amount

1500

Interest rate

11.80% - 13.80%

Max loan amount

2500

Interest rate

9.50% -11.50%

Max loan amount

750

Interest rate

12.25% - 15.00%

Max loan amount

2500

Interest rate

9.00% - 12.50%

Max loan amount

1000

Interest rate

7.25% - 8.25%

Max loan amount

2500

Interest rate

8.00% - 10.00%

Max loan amount

200

Interest rate

9.00% - 10.00%

Max loan amount

1000

Interest rate

8.70% -9.80%

Max loan amount

500

Interest rate

13.05% - 15.05%

Max loan amount

2500

Interest rate

10.70% - 11.00%

Max loan amount

1500

Interest rate

7.50% - 8.0%

Max loan amount

1500

Interest rate

8.45% - 10.00%

Max loan amount

750

Interest rate

9.40% - 10.00%

Max loan amount

200

Interest rate

9.80% - 10.80%

Max loan amount

1000

Interest rate

10.75%- 11.75%

Max loan amount

1000

Interest rate

8.00% - 10.00%

Max loan amount

1000

Interest rate

8.00% - 10.00%

Max loan amount

1000

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Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. Photographs 2
  2. PAN Card Copy
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR.
  3. ADD PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR.
  4. OFFICE ADDRESS PROOF LATEST. (ELECTRICITY BILL, TELEPHONE BILL)
  5. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  6. LAST 1 YEAR GST RETURN COPY
  7. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  8. PROVISIONAL FINANCIAL AY 2019-20
  9. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED.
  10. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  11. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  12. AGREEMENT TO SELL COPY
  13. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADD PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADD PROOF- LATEST ANY UTILITY BILL.
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST Return last 1 years
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED.
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH.
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED.
  14. Agreement To Sell copy
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS.
  3. ADDRESS PROOF – COMPANY AND DIRECTORS.
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM
  6. ORDER IN HAND AND COMPLETE COPY (if applicable)
  7. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE.
  8. 1 YEAR GST RETURNS
  9. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS.
  10. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE.
  11. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  12. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED.
  13. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH.
  14. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED.
  15. AGREEMENT TO SELL COPY
  16. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

What is the Loan Against Property ?

Loan against property is nothing but a loan which you avail by keeping your commercial/residential property as a collateral. The value of your property decides the amount of potential loan you will be sanctioned. The types of Property against which LAP can be availed Self-owned residential property.

What can Loan against Property be used for?

Any loan against a residential or commercial property can be used for both personal and business purposes. In fact, you can use it for anything other than speculative or non-prohibitive activities. 

How does the lending bank decide on the amount I can get as loan against property?

Basically, the bank looks at your repayment capacity. For calculating the loan amount, your income, age, qualifications, number of dependants, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history are taken into consideration. However the eligibility of loan does not, generally, exceed 60 percent of the market value of the property.

Can there be a co-applicant for loan against property? If yes, who can be co-applicant?

You can include your spuse as a co-applicant and that results in a higher amount being lent. However, if the property is co-owned, all co-owners mandatorily need to be co-applicants.

What are the processing fees for such a loan?

Processing fee for loan against any property varies from bank to bank and is generally around 1 percent. 

How is the rate of interest on loan against property calculated?

Interest is calculated on daily reducing balance. Your monthly out-go (equated monthly installment – EMI) is much lower as compared to the interest on annual reducing balance.

What is the tenure of the loan?

Loans against property has a maximum tenure of 15 years, subject to the condition it does not exceed your retirement age. This condition however can be flexible in certain cases. 

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