Home » Loans Against Property

Loans Against Property starting at 10.49%

new-pl-offer-trust-logo
Please enter your NamePlease enter valid Name
Please enter a valid email addressPlease enter your email address
Please enter a valid mobile numberPlease enter your mobile number
Please select your Employment Type
Please enter a valid Company Name
Please answer the above question
Minimum salary of Rs 10,000 is requiredMinimum annual income of Rs. 1.2 Lakh is requiredMinimum turnover of Rs. 1.2 Lakh is required
loading2
LOANS AGAINST PROPERTY

One of the greatest and the fruitful asset you hold is your property. Make the best use of your asset to fulfill your dream by taking loan against your property. Loan Against Property is amongst the easily available loan options and the best part is that you can get heavy cash instantly in a short span of few days only. If you own or any of your family member own a property then you can easily get up to 5 Crore as a loan in minimum of 2 days.

You can easily apply for the Loan Against Property at Rupee Station just by filling up a loan application form and we will take care of the further proceedings to make the loan amount available to you instantly. This loan is available against the wide range of property including both commercial and residential properties.

home loan

Interest Savings with Overdraft

Pay interest only on utilized limit

Balance Transfer

Carry over your existing loan with additional refinance

Loan Amount

Minimum - Rs. 5,00,000

Maximum - Rs. 500,00,000

Attractive Interest Rates

Starting from 11.0%


Loans against property fall under the category of the secured loans wherein the property is kept as a collateral or security with the bank. In these types of loans, the borrowers only pledge the property with the bank but the ownership right still remains with the owner. The amount of loan sanctioned in this category is dependent upon the value of the property.

WHO ALL ARE ELIGIBLE TO APPLY FOR THIS LOAN?

So, here is your answer! Anyone whether professionals, employees or self-employed individuals who own a commercial or a residential property on their name or in the name of parent/spouse/children/siblings can apply for a Loan Against Property.  The best part is that there is no restriction on usage of funds received against this loan; you can use this loan to renovate your house, expand your business, bear marriage expenses and a lot more. 

WHICH TYPES OF PROPERTIES CAN BE KEPT AS A MORTGAGE?

Almost all types of property can be kept as a mortgage for taking the loan. However, generally, the loan is taken against a self-occupied property, rented property, or even a piece of land. So, no matter which type of property you own, you can easily apply for the Loan Against Property. It is to be noted that many of the financial institutes require that your property should be insured for fire and numerous other calamities. In Loan Against Property, it is to be noted that if the property is owned by two people then both of them needs to be the co-applicant for the loan.

WHY CHOOSE LOAN AGAINST PROPERTY?

If you are in need of funds in bulk then Loan Against Property is the best loan option to opt as you can easily get the funds amid 5 lacs to 5 Cr. such high amount of funds is not easily available with other types of loan.        
In addition to the huge amount of funds, there are various other reasons to opt for a Loan Against Property, some of the reasons are listed below, have a look –

  • It is considered as one of the cheapest options for a loan as the interest rate ranges amid 12% to 15%.
  • The repayment tenure is quite flexible up to 15 years.
  • Available even if your credit score is too bad as it is a secured loan
  • There are multiple banks which offer Loan Against Property and you can easily get up to 70% of the market price as the loan amount.  

Loan Against Property is one of the most common types of loans in today’s era as it comes with multiple benefits to the borrowers. Some of the major benefits of Loan Against Property are listed below, have a look –  
   
HIGHER AMOUNT OF LOAN

The Loan Against Property is best to meet your huge capital requirements as you can easily get the funds in bulk. The loan amount sanctioned is dependent upon the market price of your property as you get 70% – 80% of the market value of the property as the loan. You might be surprised to know that, you can easily get 5 lacs to 5 Cr as a loan under this category. So, higher the value of the property, higher will be the loan amount sanctioned.   

EASY LOAN PROCEDURE

The process of applying for a Loan Against Property is very simple and easy as you just need to fill an online application form with some basic details. You can easily apply for the loan in just a few clicks and minimal documentation procedure.

AFFORDABLE INTEREST RATES

Property loan helps you to get higher funds at quite a low rate of interest which makes this loan a pocket-friendly option. You can get the property loan at the interest rate as low as 10%. In addition, the processing fee charged against the property loan is also quite low.   

EASY APPROVAL

The Loan Against Property is easily approved in just a short span of few days. Once your application for the loan is received and you meet the basic eligibility criteria for the Loan Against Property then your loan application is easily approved without any hurdle.  

INSTANT AVAILABILITY OF FUNDS

The funds are easily available in a short span of two days after the approval of the loan application. Thus, you need not wait for weeks and months to meet you heavy capital requirement.  

NO RESTRICTION ON FUND USAGE

The Loan Against Property does not come with any restriction on usage of the loan amount received. You can use the funds for any or every purpose and take the maximum advantage from it.
REPAYMENT TENURE

The repayment tenure of the property loan is also flexible, you can decide the repayment tenure in accordance with your future cash flows. You can extend the repayment tenure as long as 15 years and as short as 12 months depending upon your future cash flows. Thus, if you want to go low on monthly EMIs, you can easily extend the repayment tenure.     

If you are planning to apply for a Loan Against Property then you have to meet basic eligibility criteria for applying for the loan. The eligibility criteria may vary from bank to bank or any other financial institution but it is more or less the same. The basic eligibility criteria to apply for the Loan Against Property can be divided into two categories i.e. – eligibility criteria for self-employed professionals and salaried individuals. Below is the brief description of the eligibility criteria for both the categories, have a look –  

FOR SALARIED EMPLOYEES:

  • You should be a resident of India.  
  • Your age should be amid 25 to 60 years.
  • You should be a salaried employee in the Public Company, Private Company, Central Government, State Government or a Public Sector Unit. 
  • You must be working with your current organization from minimum of 3 years.
  • You should meet the minimum monthly income requirement.  

FOR SELF-EMPLOYED PROFESSIONALS:

  • You should be a resident of India. 
  • Your age should be amid 25 to 7    0 years.
  • You should have a regular income source and meet the minimum monthly turnover requirement.
  • You should be in the business for a minimum of 3 years.

In addition to this, you also have to provide some documents for easy approval of the loan. The document requirement varies from bank to bank but this difference is not too wide. Just like eligibility criteria, the documentation requirement is also divided into two categories i.e. Salaried Employees and Self-employed professional. Below given is the list of some common documents required for the processing of Loan Against Property for both the categories, have a look –

FOR SALARIED EMPLOYEES:

  • Any of the following as a proof of residence – Aadhar Card/Ration Card/Electricity Bill/Telephone Bill/Voter ID card
  • Any of the following for proof of identity – Voter ID Card/Driving License/Aadhar Card/Employers ID
  • Statement of Bank for previous 6 months as a proof of income
  • Salary slips of previous 6 months showcasing all the deductions.
  • Copy of ITR/Form 16 for the past 2 years 
  • All the documents of property which you are keeping as collateral for the loan.

FOR SELF-EMPLOYED PROFESSIONALS:

  • Any of the following as a proof of residence – Aadhar Card/Ration Card/Electricity Bill/Telephone Bill/Voter ID card
  • Any of the following for proof of identity – Voter ID Card/Driving License/Aadhar Card/Employers ID
  • Financial Statement of past 3 years
  • Statement of Bank for previous 6 months as a proof of income
  • All the documents of property which you are keeping as collateral for the loan.

Rupee Station is one stop solution for getting all types of loans to meet your financial needs instantly. At Rupee Station, you are just a few clicks away from the property loan as you can apply for the loan just by filling a simple loan application form. Once you have filled the loan application form, you are almost done with the process of applying for the loan. We help you to get the best ongoing loan offers without spending much time on research. Below, listed are some of the best advantages of applying for loan at Rupee Station, have a look –
  
EASY APPLICATION PROCEDURE

The process of applying for loan at Rupee Station is very easy and quick. You just need to fill the loan application form with some of your basic details. Once you have filled and submitted this form, you are done with the process of applying for the loan. Further, our customer support officials will get in touch with you to take the procedure forward.

INSTANT FUNDS AVAILABILITY

At Rupee Station, we meet your funds requirement instantly. Once you fill the application form, our officials immediately take the procedure forward. Once your loan application gets approved, you get the funds in the minimum of 2 days.

MAXIMUM AMOUNT AS LOAN

We share exclusive collaborations with different banks and therefore help you get the maximum loan amount against your property. We get in contact with different banks and then let you know the maximum loan amount available against your property. The loan amount against property ranges amid 5 Lacs to 5 Crore.

AFFORDABLE INTEREST RATES

In addition to the maximum loan amount, we also ensure that you also get the loan at an affordable rate of interest. At Rupee Station, you can get an interest rate as low as 10% and that too without too much research.  

EASY DOCUMENTATION

The documentation procedure at Rupee Station is too minimal and easy. You need not provide too many documents for getting your loan approved. Only some basic documents which are easily available are required for the loan.   

INSTANT CUSTOMER SUPPORT

In case, you are facing any issue while applying for the loan or have any query regarding loan then you can directly get in touch with our customer support officials. We provide instant support to our customers in order to resolve their issues and make the loan procedure a child’s play.

WHAT ARE THE DIFFERENT TYPES OF LOAN AGAINST PROPERTY?

Loan Against Property are classified on the basis of the collateral pledged for the loan. Thus, there are different types of Loan Against Property and you have multiple options to put as collateral for getting a loan. Below given are the few major loans against property, have a look –

  • Loan against self-occupied commercial property
  • Loan against rented commercial property
  • Loan against vacant commercial property
  • Loan against self-occupied residential property
  • Loan against rented residential property
  • Loan against vacant residential property
  • Loan against residential plot
  • Loan against industrial property

DOES THE ELIGIBLE LOAN AMOUNT DIFFER WITH THE TYPE OF PROPERTY?

Yes, the maximum value eligible for a loan differs with the type of property which is pledged as the value of loan available against different property is different.

IS THE OWNERSHIP TRANSFERRED TO THE BANK WHILE PLEDGING THE PROPERTY?

No, the ownership of the property is not transferred to the bank. On the contrary, it remains with the owner of the property.

WHAT HAPPENS TO THE PROPERTY, IF I FAIL TO REPAY THE LOAN?

In case you fail to repay the loan, bank reserves the right to auction the property and receive the loan amount. However, if the property is auctioned for an amount greater than your loan amount then remaining amount is returned to the owner of the property.  

WHAT ARE THE DIFFERENT CHARGES I NEED TO PAY AS DURING THE PROCESS?

The loan charges that you need to pay during the processing of Loan Against Property include processing fee and mortgage origination fee.

IS THERE ANY RESTRICTION ON USAGE OF THE FUNDS GAINED THROUGH PROPERTY LOAN?

No, there is no restriction on the usage of the funds gained through property loans. You can use the funds as per your needs and requirement which may include –

  • Expansion of business
  • To meet marriage expenses, medical expenses or any other personal need
  • To pay your old outstanding loan
  • For renovating your house
  • To finance your dream of exploring the world etc.

CAN I GET THE LOAN AGAINST THE JOINTLY HELD PROPERTY?

Yes, property loan is also available for jointly hold property but the only condition is that all the joint holders of the property should be the co-applicant for the loan.

WHAT ARE THE REPAYMENT OPTIONS AVAILABLE?

You can easily pay your loan EMIs through ECS and your monthly installment will be automatically deducted by the bank. In addition to this, you can also pay your EMIs through post-dated checks.

Bank Partners