Loan Against Property

How much I can get?
The eligibility of Loan against Property is calculated on the basis of either the percentage of property value that you own and how much income you have that you can return the emi with.So you can get Loan against property upto annex % of property value and the net amount that you earn after other emi a percentage of that amount can go into the emi.

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Loan against Property is given on below mentioned properties and the % that you can get loan is listed below.
Residential Property:- Self Occupied – 65% Vacant - 55% Rented - 55%	Commercial Property:- Self Occupied – 50% Vacant - 40% Rented - 40%
This varies from Bank to Bank in 5- 10% of above. To calculate how much you can pay its looked by most banks in the below mentioned ways
For Salaried:- {(NTH - Obligation) * 60%} / EMI per Lac	For Self-Employed:- {(NTH - Obligation) * 65%} / EMI per Lac
Whichever is lower from the value of the property or your income- that loan amount will be given to you. The other criteria are-Max. Age:- For Salaried – 60 Years & For Self-Employed – 70 Years

Banks	up to 30 lacs	30-75 lacs	75 & above	Processing fees
HDFC	12.75%	13.50%	13.50%	1% of the loan amount
Fullerton	15.5%	15.5%	15.5%	1% of the loan amount
Ing vysya	13% fixed for 3 years	13% fixed for 3 years	13% fixed for 3 years	1% + service tax
Axis Bank	13% - 14%	13% - 14%	13% - 14%	1% of the loan amount
India Bulls	13.50%	13.50%	13.50%	1% + service tax
ICICI Bank	13.25%	13.25%	13.25%	0.5% - 1%

Features at Glance

• Loans from Rs2 Lakh onwards depending on your needs
• Borrow up to 70% of market value of the property
• Flexibility to choose between an EMI based loan or an overdraft
• High tenure loans for ease of repayment.
• Attractive interest rates.
• Simple and speedy processing.
• Loan for salaried & self-employed individuals

Advantages of taking a Loan Against Property

• Cheaper than Personal Loans: It works out to be much cheaper than a personal loans, which is usually issued at interest rates in the region of 16 per cent-21 per cent.
• Longer Loan Tenure: The tenure for a Loan Against Property is usually longer than that for a personal loan. Generally, LAP is given for a maximum tenure of 10 years.
• Lower EMI: Since the rate of interest is lower, many times, LAP Equated Monthly Installments (EMI) turn out to be cheaper than those under personal loans.
• Simple documentation and Fast Approvals: LAP being a secured Loan has comparatively faster approvals and minimal documentation.

Loan Against Property can be taken for following purposes:
• Expanding your business
• Get your child married
• Send your child for higher studies
• Fund your dream vacation
• Fund Medical Treatments

In nutshell, Loan Against Property is a secured multi-purpose loan with larger tenor and lesser rate of interest.

31 Comments, read them below or add one

Jitendra Singh May 9, 2013 4:18 pm

Hi People, If any one interested in Loan Against Property with minimum rate of interest then do let me know, I am working with India Infoline Finance Ltd as Branch Manager. Jitendra Singh

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Jennifer Dsouza April 29, 2013 11:57 am
I need a loan of INR 5,00,000 against my property of INR 40,00,000. Pls advise best possible options with easy process.
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- Manisha April 29, 2013 12:03 pm
  Ms Jennifer, As per Process & Interest rates HDFC is best in every aspect. Axis Bank is also offers better after loan services.
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NARESH DHIMAN April 27, 2013 1:36 pm

sir, i have taken commercial loan of 5lac from hdfc ltd, i wanted to know , if i wanted to deposit one lac after 1year than how this amount will be adjust the hdfc ltd , how i know about this.

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banke tiwari April 29, 2013 11:20 am
In this case either bank less 1 lac from your loan amount or cut down your in EMI.
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Deepali Gajanan Korgaonkar April 25, 2013 9:54 pm

I am salaried govt.person. I want loan against property.Which bank suitable and cheap interest rate.please guide me immediately.

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banke tiwari April 26, 2013 3:13 pm

Ms Deepali, At present HDFC is the only bank which offers lowest rates on loans. First you should compare all the banks on the basis of documents, Rates & Eligibility after that choose the best according to your needs.

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priya April 24, 2013 3:41 pm

I am a salaried person, my salary is 25000.I want to get loan upto 4 lacs.Which is the best bank for getting loan? Also can i avail LAP(Loan Against Property) for the same.

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banke tiwari April 26, 2013 3:14 pm
HDFC & Axis Bank offers great value then any other bank in this category.
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