What is the maximum tenure period for Loan Against Property?
As a maximum repayment period to pay back the principal amount is 15 years.
| Bank Name | Min Interest Rate | Processing Fee | Max Loan (Lacs) | Max Tenure (Month) | |
|---|---|---|---|---|---|
|
10.00%
|
1%
|
500
|
180
|
|
|
8.80%
|
1%
|
1000
|
120
|
|
.png)
|
13.00%
|
1%
|
100
|
180
|
|
|
10.70%
|
1%
|
1500
|
180
|
|
|
9.40%
|
1.00%
|
200
|
120
|
|
|
11.00%
|
1%
|
200
|
180
|
|
|
8.50%
|
1%
|
1000
|
180
|
|
|
11.70%
|
1%
|
1000
|
120
|
|
|
9.50%
|
1%
|
700
|
180
|
|
|
8.00%
|
1%
|
200
|
180
|
|
|
10.00%
|
1%
|
500
|
180
|
|
|
7.50%
|
1%
|
1000
|
180
|
|
|
9.00%
|
1%
|
1000
|
180
|
|
.png)
|
9.80%
|
1%
|
1000
|
120
|
|
|
8.70%
|
1%
|
500
|
120
|
|
|
11.00%
|
1%
|
500
|
180
|
|
|
8.50%
|
1%
|
1000
|
180
|
|
|
10.10%
|
1%
|
500
|
120
|
|
|
10.00%
|
1%
|
500
|
180
|
|
|
10.00%
|
1%
|
300
|
120
|
|
|
8.90%
|
1%
|
2500
|
180
|
|
|
9.00%
|
1%
|
1000
|
180
|
|
|
10.75%
|
1%
|
1000
|
120
|
|
|
8.85%
|
1%
|
1000
|
120
|
|
|
9.00%
|
1%
|
1000
|
180
|
|
|
7.50%
|
1%
|
1500
|
180
|
|
|
9.00%
|
1%
|
1000
|
180
|
|
|
9.50%
|
1%
|
750
|
180
|
|
|
9.50%
|
1%
|
1500
|
180
|
|
.png)
|
8.50%
|
1%
|
2500
|
180
|
|
|
9.25%
|
0.50%
|
3500
|
180
|
|
|
8.45%
|
1%
|
750
|
120
|
|
|
10.00%
|
1%
|
500
|
180
|
|
|
9.50%
|
1%
|
1000
|
180
|
|
|
9.00%
|
1%
|
1000
|
180
|
|
|
8.60%
|
1%
|
1000
|
12
|
|
|
14.00%
|
1%
|
50
|
180
|
|
|
11.00%
|
1%
|
200
|
180
|
|
|
9.00%
|
1%
|
300
|
180
|
|
|
9.50%
|
1%
|
500
|
180
|
|
.png)
|
10.00%
|
1%
|
300
|
180
|
|
| Bank Name | Min Interest Rate | |
|---|---|---|
|
|
10.00% |
|
|
|
8.80% |
|
|
|
13.00% |
|
|
|
10.70% |
|
|
|
9.40% |
|
|
|
11.00% |
|
|
|
8.50% |
|
|
|
11.70% |
|
|
|
9.50% |
|
|
|
8.00% |
|
|
|
10.00% |
|
|
|
7.50% |
|
|
|
9.00% |
|
|
|
9.80% |
|
|
|
8.70% |
|
|
|
11.00% |
|
|
|
8.50% |
|
|
|
10.10% |
|
|
|
10.00% |
|
|
|
10.00% |
|
|
|
8.90% |
|
|
|
9.00% |
|
|
|
10.75% |
|
|
|
8.85% |
|
|
|
9.00% |
|
|
|
7.50% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
9.50% |
|
|
|
8.50% |
|
|
|
9.25% |
|
|
|
8.45% |
|
|
|
10.00% |
|
|
|
9.50% |
|
|
|
9.00% |
|
|
|
8.60% |
|
|
|
14.00% |
|
|
|
11.00% |
|
|
|
9.00% |
|
|
|
9.50% |
|
|
|
10.00% |
|
Do you need loan for personal or business purpose? Pledge your residential or commercial property as a collateral & get up to 90% of property value as a loan amount & enjoy other exclusive benefits. Just have a look forward to eligibility.
Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.
Note: - Maximum Loan Amount of Salaried Individual can avail up to 1 Cr & Self- Employed Individual can avail up to 3.5 Cr.
There are few factors that generally affects Eligibility Criteria as given below: -
Stability of income: - This is one of the prime factor determining applicant repayment capability. Due to lack of regular sources of income your eligibility gets lower & loan application would face rejection.
Bad Credit Score: - You might be pledging your property as collateral while applying for loan, but lenders will look forward to credit score, if it ranges in between 300 – 650 then most likely your chance of getting loan reduces.
Choice of shorter tenure: - Usually, shorter tenure is good for them whom have multiple sources of income, they are capable of paying higher EMI on monthly basis, but when it comes to salaried person your overall expenses are dependent on monthly salary if it not up to the mark, then prefer to choose longer tenure as it will give you relax to pay smaller EMI which don’t affect you do other things & even lenders also give preference longer tenure applicant.
To increase loan against property eligibility, you need to consider points as given below, this will aid you in increasing your eligibility level: -
Opt for Longer Tenure: - If you want to pay smaller EMI remembering not to influence your personal expenses then choose a longer tenure, it will not only give you comfort to pay but also help you increase your eligibility.
Do Payments timely: - Always pay bills on time, avoid having several credit card as it harm your credit score which led to lower score reduces chances of loan approval, do all payments timely without giving excuses to yourself as it enhances your chances of increasing eligibility.
What is the maximum tenure period for Loan Against Property?
As a maximum repayment period to pay back the principal amount is 15 years.
Are opting for Property Loan is good?
Opting for a Property Loan is the best way to fulfill your financial needs as it offers lowest Interest Rates.
Can I repay the loan ahead of schedule?
Yes, you can do it without making any penalty cases as most banks won’t charge you, but there are few banks demand you to pay 2% - 3% of principal amount as a pre-payment penalty.
How much loan I can avail in Loan Against Property?
If you are a salaried individual you can avail up to 1 Crore, in case if you are self-employed individual you can avail up to 3.5 Crore.
How Loan Against Property EMI Calculator works?
Generally, it was calculated on principal amount, Interest Rates & tenure specific period to repay amount & finally outcomes as a scheduled month wise EMI chart.
What are the processing fees for such Property Loan?
For a Property Loan you will be charged a processing fee up to 1% of loan amount borrowed by lenders.
What can Loan against Property be used for?
Property loan can be used for various purposes like clearing existing high payable Emi debt, health expenses, children's higher studies & marriage either for business set-up.
Is co-applicant facility is allowed in Loan Against Property & how can become?
Yes, if your income or property value is not up to the mark required by lender, then you can increase your eligibility just by adding your blood relation family members like husband,wife,mother,unmarried daughter, brother, son & father can be an co-applicant.
What is Loan Against Property?
This type of loan come under secured category as you will required to pledge your property to get loan & offered by various Banks,NBFC’s & Financial Institution at low Interest Rates with flexible tenure to repay.
What is Loan Against Property Interest Rate?
For Property Loan Interest Rate might vary from bank to bank, generally between 7.20% to 14.00% per annum.
Want to get financial service? Advise by CA Vikas Jain
CA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
Read MoreCA Vikas Jain - Chief Advisor
Mr. Vikas Jain is a reputed Chartered Accountant possessing in-depth understand...
Read MoreIf you want me & my team at financeseva to help you in getting Best Financial Services, Just Book a Free Call
9863-02-02-02