Get instant loan against property in India.
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LOAN AGAINST PROPERTY

Apply for Loan Against Property in Eazy Bank Loan

If you need funds for your business growth, start-ups, education, wedding, or for any personal needs, then you can avail easy and hassle-free Eazy Bank Loan against the property by comparing the banks and their rates of interest plus Loyalty Reward points. A loan against property is a type of secured loan and the maximum loan amount provided can be up to 70% of the residential or commercial property value. You can avail mortgage loan by mortgaging both residential and commercial properties. These properties will act as collateral for the loan and the loan amount depends on the total value of your property. Whether you are a salaried or self-employed individual, meet your financial needs based on your eligibility criteria within 72 hours. You can also add a co-applicant to increase the loan amount and decrease the mortgage interest rates. With minimum documentation, you can get a high loan amount ranging from Rs. 1 crore to Rs. 3.5 crore. If your CIBIL score is close to 750 or higher, then your loan against the property will be sanctioned instantly and you will get a loan at the lower interest rate. The tenure for a mortgage loan ranges from 2 to 20 years based on your occupation. If you are salaried, the tenure is 2 to 20 years and for self-employed is 2 to 18 years.

Compare & Apply Best Loan Against Property/Mortgage Loan Online

There are various banks offering online loans against property but you need to choose the one bank that offers the best features according to your needs. Even when you need a loan to fulfill your emergency fund requirement like repayment of some on-going loan amount then also, you need to be patient and compare all the features and interest rates on a mortgage loan. The loan will be sanctioned to you only when you keep collateral like a freehold residential property as security. LAP is a high amount loan that takes a long time to repay so choosing the wrong bank with a higher interest rate is not a good deal and you might lose your collateral as well. Choose wisely after comparing and apply for the best loan against property online. Check out the interest rates, processing fees, EMIs, maximum loan amount, eligibility criteria, and much more at Eazy Bank Loan. Apply for a loan against property and get the best loan against property in India with a low-interest rate

Loan Against Property Interest Rates

Bank Loan Against Property Rate Processing fees
8.05% 0.50%
Min ₹2,000 - Max ₹50,000
Apply
8.50% 0.75%
Max ₹25,000
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7.49% - Apply
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6.66% - Apply
8% - Apply
6.75% - Apply
6.95% - Apply
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9.50% 0.75% Apply
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7.90% - Apply
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7.60% - Apply
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9.50% 1.00% Apply
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Calculate Your Loan Against Property Interest

The loan against property interest rate calculator will help you to know the approximate interest rates on the loan amount you are eligible for and the loan against your commercial or residential property. The factors that are considered for the loan against property interest rate are the user’s profile, company name, monthly salary, credit history, CIBIL score, etc. Also, you can calculate the Loan Against Property EMI with the help of the smart EMI calculator that will help you to determine the EMIs associated with your total loan amount, so you can plan your finances better. Now calculate your mortgage loan interest rates, tenure, and EMIs within a few seconds.

Apply for Loan Against Property in Eazy Bank Loan

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Loan Amount: *
Annual Interest Rate: *
Loan Tenure(Year): *

Purpose of Loan Against Property

The loan against property can be taken for various purposes, so you can achieve your personal or business goals easily. If you own your property legally then the process of getting a loan is very simple and quick. Here are the reasons why people take out a mortgage loan.

  • Business-related purposes
  • Medical emergencies
  • Fund child’s education
  • Weddings
  • House construction
  • Other major financial requirements

If you are planning to avail loan against property for purposes like business expansion, child education, medical emergencies, or weddings then a loan against property is beneficial.

But, if you are thinking to avail loan for reasons related to home construction, home renovation, and plot purchase then LAP is not beneficial.

Bajaj Finserv Loan Against Property

Key Highlights
Loan Amount:
Salaried: Rs. 2.5 lakhs to 3.5 Cr
Self-employed: Rs. 15 Lakhs to 3.5 Cr
S
Eligibility
Salaried: 23 to 58 years
Self-employed: 25 to 70 years
  • Loan tenure: 5 to 20 years
  • Interest rate:
Salaried: Residential property: 9.0% to 11.10% and Commercial property: 9.60% to 11.10%
Self-employed: Residential property: 10.10% to 14.50% and Commercial property: 10.10% to 14.50%
Companies and firms: Residential property: 12.85% to 14.95% and Commercial property: 12.85% to 14.95%
  • Advantage: No hidden or extra charges, affordable interest rates, flexible tenure, and easy documentation
  • Repayment options: Lowest EMI amount: up to Rs. 3000
  • Credit
score: Salaried: 650+
Self-employed: 650+
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: Rs. 2.50 lakhs/yr
  • Business stability/work experience: 3 years
  • Processing fee: Up to 6%
  • Loan to Value Ratio: up to 90% of the property value
  • Fixed obligation to income ratio(FoIR): 0.50

HDFC personal loans

Benefits
Loan Amount:
Salaried: Rs. 2.5 lakhs to 3.5 Cr
Self-employed: Rs. 15 Lakhs to 3.5 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 10 years
  • Interest rate:
Salaried: 9.00% to 11.00%
Self-employed: 9.00% to 11.00%
Companies and firms: 9.00% to 11.00%
Repayment options: Lowest EMI amount: up to Rs. 3000
Credit
score: Salaried: 700
Self-employed: 700
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: Rs. 3.00 lakhs/yr
  • Business stability/work experience: 5 years
  • Foreclosure charges: Nil and upto 3% for companies
  • Late payment fees: Up to 24%
  • Processing fee: Up to 1.50% of the loan amount
  • Loan to Value Ratio: up to 50% of the property value
  • Fixed obligation to income ratio(FoIR): 0.65

Standard chartered loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 3.00 Lacs to 25 Cr
Self-employed: Rs. 3.00 Lacs to 25 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 23 to 65 years
  • Loan tenure: 20 years
  • Interest rate:
Salaried: 9.00% to 10.50%
Self-employed: 9.25% to 11.00%
Companies and firms: 9.25% to 11.00%
Repayment options: Lowest EMI amount: 1008/Lac
Credit score:
Salaried: 700
Self-employed: 700
Income
Salaried: Rs. 40, 000/-
Self-employed: Rs. 5.00 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Up to 5% of principal prepaid (allowed after 12 EMI payments)
  • Late payment fees: Up to 24%
  • Processing fee: Up to 1%
Salaried: 0.5% to 1.00% + GST
Self-employed: 0.75% to 1.00% + GST
Companies and firms: 0.75% to 1.00% + GST
  • Loan to Value Ratio: up to 70% of the property value
  • Fixed obligation to income ratio(FoIR): 0.65

Tata Capital loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 2.5 Lacs to 5 Cr
Self-employed: Rs. 15 Lacs to 5 Cr
Companies: Rs. 15 Lacs to 5 Cr
Eligibility
Salaried: 25 and 60 years
Self-employed: 21 to 65 years
Companies and firms: Rs. 15 Lakhs to 10 Cr
  • Loan tenure: 20 years
  • Interest rate:
Salaried: 11.75% to 15.00%
Self-employed: 11.75% to 16.00%
Companies and firms: 11.75% to 16.00%
  • Repayment options: Lowest EMI amount: Rs. 1018/Lacs
  • Credit
score: Salaried: 650+
Self-employed: 650+
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 5 years
  • Foreclosure charges: 4% + ST as applicable
  • Late payment fees: 3% on Overdue Amount per month
  • Processing fee: 2% + Service tax as applicable
  • Loan to Value Ratio: up to 50% of the property value
  • Fixed obligation to income ratio(FoIR): 0.65

SBI loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 25 Lakh to ₹ 7.50 Cr
Self-employed: ₹ 25 Lakh to ₹ 7.50 Cr
Companies: ₹ 25 Lakh to ₹ 7.50 Cr
Eligibility
Salaried: 18 and 70 years
Self-employed: 18 to 70 years
  • Loan tenure: 20 years
  • Interest rate:
Salaried: 8.80% - 9.30%
Self-employed: 8.80% - 9.30%
Companies and firms: 8.80% - 9.30%
  • Repayment options: Lowest EMI amount: ₹ 1,002 per lakh
  • Credit
score: Salaried: 650+
Self-employed: 650+
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability: 2 years
  • work experience: 5 years
  • Foreclosure charges: Nil
  • Late payment fees: For loans up to Rs. 25,000 – Nil and above that 2% p.a.
  • Processing fee: 1% of loan amount + GST (max. Rs. 50,000)
Loan to Value Ratio: up to 60% of the property value
Fixed obligation to income ratio(FoIR): 0.65

Axis bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 3.00 Lacs to 25 Cr
Self-employed: Rs. 3.00 Lacs to 25
Cr Companies: Rs. 3.00 Lacs to 25
Eligibility
Salaried: 24 and 60 years
Self-employed: 23 to 65 years
  • Loan tenure: 1 to 15 years
  • Interest rate:
Salaried: 8.9 % to 10.5 %
Self-employed: 8.9 % to 10.5 %
Companies and firms: 8.9 % to 10.5 %
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit score
Salaried: 700+
Self-employed: 700+
Income:
Salaried: Rs. 30, 000/-
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Nil
  • Late payment fees: Applicable
  • Processing fee: 0.25% to 1% + GST and for self employed and companies: 0.50% to 1% + GST
  • Loan to Value Ratio: up to 50% of the property value
  • Fixed obligation to income ratio(FoIR): 0.

HSBC loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 5 Lac to 5 Cr
Self-employed: Rs. 5 Lac to 5 Cr
Companies: Rs. 5 Lac to 5 Cr
Eligibility
Salaried: 21 and 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 5 to 25 years
  • Interest rate:
Salaried: 8.65% to 10.27%
Self-employed: 8.65% to 10.27%
Companies and firms: 8.65% to 10.27%
Repayment options: Lowest EMI amount: Rs.815 per lakh
Credit score
Salaried: Preferably 750 and above
Self-employed: Preferably 750 and above
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: : Rs. 2.50 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: applicable
  • Late payment fees: 2% over and above the existing interest rate charged on the loan account for the amount which is overdue
  • Processing fee: Up to 1% of the loan amount + applicable taxes
  • Loan to Value Ratio: up to 70% of the property value
  • Fixed obligation to income ratio(FoIR): 0.65

Yes bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 3.00 Lacs to 25 Cr
Self-employed: Rs. 3.00 Lacs to 25
Companies : : Rs. 3.00 Lacs to 25
Eligibility
Salaried: 21 and 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 9.50% to 10.50%
Self-employed: 9.50% to 11.00%
Companies and firms: 10.00% to 11.00%
Repayment options: Lowest EMI amount:
1008/Lac Credit score:
Salaried: 650
Self-employed: 650
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: Rs. 3.00 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Nil with variable interest rates
  • Late payment fees: Up to 24%
  • Processing fee: 0.5% to 0.75% + GST and for self employed and companies: 0.5% to 0.75% + GST
  • Loan to Value Ratio: up to 60% of the property value
  • Fixed obligation to income ratio(FoIR): 0.65

ICICI bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 3.00 Lacs to 25 Cr
Self-employed: Rs. 3.00 Lacs to 25
Companies: Rs. 3.00 Lacs to 25
Eligibility
Salaried: 21 and 60 years
Self-employed: 23 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 9.00% to 11.50%
Self-employed: 9.00% to 11.50%
Companies and firms: 9.00% to 11.50%
Repayment options: Lowest EMI amount: 1008/Lac
Credit score:
Salaried: 700
Self-employed: 700
Income
Salaried: Rs. 30, 000/-
Self-employed: Rs. 3.00 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Nil with variable interest rates
  • Late payment fees: Up to 24%
  • Processing fee: 0.50% to 1.00% + GST
  • Loan to Value Ratio: up to 60% to 70% of the property value

IDBI bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 40 Lakh to ₹ 10 Cr
Self-employed: ₹ 40 Lakh to ₹ 10 Cr
Companies: ₹ 40 Lakh to ₹ 10 Cr
Eligibility
Salaried: 22 to 60 years
Self-employed: 23 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 10.20% - 10.70%
Self-employed: 10.20% - 10.70%
Companies and firms: 10.20% - 10.70%
Repayment options: Lowest EMI amount: ₹ 1,087 per lakh
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Income
Salaried: Rs. 30, 000/-
Self-employed: : Rs. 3.00 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Nil with variable interest rates
  • Late payment fees: Up to 24%
  • Processing fee: Upto 1.00%
  • Loan to Value Ratio: Upto 65% of the property value

United Bank of India loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 10 Lakh to ₹ 5 Cr
Self-employed: ₹ 10 Lakh to ₹ 5 Cr
Companies : ₹ 10 Lakh to ₹ 5 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 7 years
  • Interest rate:
Salaried: 10.20% - 10.70%
Self-employed: 10.20% - 10.70%
Companies and firms: 10.20% - 10.70%
Repayment options: Repayment options: Lowest EMI amount: ₹ 1,699 per lakh
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Loan Amount:
Salaried: Rs. 30, 000/-
Self-employed: : Rs. 3.00 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Nil
  • Late payment fees: Up to 24%
  • Processing fee: Upto 1.00%
  • Loan to Value Ratio: Upto 65% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

IDFC first bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 15.00 Lakhs to 10 Cr
Self-employed:Rs. 15.00 Lakhs to 10 Cr
Companies : Rs. 15.00 Lakhs
Eligibility
Salaried: 21 to 60 years
Self-employed: 23 to 70 years
  • Loan tenure: 20 years
  • Interest rate:
Salaried: 12% to 13%
Self-employed: 12.00% to 13.50%
Companies and firms: 12.00% to 13.50%
Repayment options: Repayment options: Lowest EMI amount: Rs.1008/Lac
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Income
Salaried: Rs. 30, 000/-
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 2 years
  • Foreclosure charges: 4% + ST as applicable
  • Late payment fees: Up to 24%
  • Processing fee: 1% + Service tax as applicable
  • Loan to Value Ratio: Upto 65% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

Lakshmi villa bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 10 Lakh to ₹ 5 Cr
Self-employed:₹ 10 Lakh to ₹ 5 Cr
Companies :₹ 10 Lakh to ₹ 5 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 23 to 65 years
  • Loan tenure: 10 years
  • Interest rate:
Salaried: 11.65%
Self-employed: 11.65%
Companies and firms: 11.65%
Repayment options: Lowest EMI amount: ₹ 1,415 per lakh
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Allowed with nil charges for floating rate loans to individuals
  • Late payment fees: Up to 24%
  • Processing fee: 1.20% of the total loan amount
  • Loan to Value Ratio: Upto 60% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

DCB loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 10 Lakh to ₹ 10 Cr
Self-employed:₹ 10 Lakh to ₹ 10 Cr
Companies :₹ 10 Lakh to ₹ 10 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 12.72%
Self-employed: 12.72%
Companies and firms: 12.72%
Repayment options: Lowest EMI amount: ₹ 1,247 per lakh
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Allowed with nil charges for floating rate loans to individuals
  • Late payment fees: Up to 24%
  • Processing fee: Upto 1.00%
  • Loan to Value Ratio: Upto 70% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

Oriental bank of commerce loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 5 Lakh to ₹ 10 Cr
Self-employed:₹ 5 Lakh to ₹ 10 Cr
Companies :₹ 5 Lakh to ₹ 10 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 10 years
  • Interest rate:
Salaried: 10.95%
Self-employed: 10.95%
Companies and firms: 10.95%
Repayment options: Lowest EMI amount: ₹ 1,375 per lakh
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Allowed with nil charges for floating rate loans to individuals
  • Late payment fees: Up to 24%
  • Processing fee: Upto 0.50%
  • Loan to Value Ratio: Upto 60% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

Central bank of loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 1 Lakh to ₹ 10 Cr
Self-employed:₹ 1 Lakh to ₹ 10 Cr
Companies :₹ 1 Lakh to ₹ 10 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 10 years
  • Interest rate:
Salaried: 11.10%
Self-employed: 11.10%
Companies and firms: 11.10%
Repayment options: Lowest EMI amount: ₹ 1,383 per lakh
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Allowed with nil charges for floating rate loans to individuals
  • Late payment fees: Up to 24%
  • Processing fee: Upto 0.50%
  • Loan to Value Ratio: Upto 50% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

J & K loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: ₹ 50,000 to ₹ 1 Cr for all
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 7 years
  • Interest rate: 12.20% for all
Repayment options: Lowest EMI amount: ₹ 1,776 per lakh
Credit score:
Salaried: 650 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Allowed with nil charges for floating rate loans to individuals
  • Late payment fees: Up to 24%
  • Processing fee: Upto 0.20%
  • Loan to Value Ratio: Upto 60% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

Indusind bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 2.5 Lacs to 10 Cr
Self-employed:₹ 5 Lakh to ₹ 10 Cr
Companies :₹ 5 Lakh to ₹ 10 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 10 years
  • Interest rate:
Salaried: 9.50% - 13.50%
Self-employed: 9.60% - 13.60%
Companies and firms:10.50% - 13.60%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit score:
Salaried: 700 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: 4% + ST as applicables
  • Late payment fees: Up to 24%
  • Processing fee: 2% of the loan amount
  • Loan to Value Ratio: Upto 60% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

Corporate bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 1 Lacs to 10 Cr
Self-employed:₹ 1 Lakh to ₹ 10 Cr
Companies :₹ 1 Lakh to ₹ 10 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 10 years
  • Interest rate:
Salaried: 11.10%
Self-employed: 11.10%
Companies and firms:11.10%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit score:
Salaried: 700 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: 4% + ST as applicables
  • Late payment fees: Up to 24%
  • Processing fee: Upto 1.00%
  • Loan to Value Ratio: Upto 50% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

Karnataka bank loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 11 Lacs to 1 Cr
Self-employed:₹ 11 Lakh to ₹ 1 Cr
Companies :₹ 11 Lakh to ₹ 1 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 60 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 10.90%
Self-employed: 10.90%
Companies and firms: 10.90%
Repayment options: Lowest EMI amount: ₹ 1,130 per lakh
Credit score:
Salaried: 700 and above
Self-employed: 650 and above
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.5 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: 4% + ST as applicables
  • Late payment fees: Up to 24%
  • Processing fee: Upto 1.00%
  • Loan to Value Ratio: Upto 50% of the property value
  • Fixed Obligations to Income Ratio (FOIR): 0.65

Edelweiss loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 3.00 Lacs to 25 Cr
Self-employed: Rs. 3.00 Lacs to 25 Cr
Companies : Rs. 3.00 Lacs to 25 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 9.25% to 12.00%
Self-employed:9.25% to 12.00%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit score:
Salaried:650+
Self-employed:650+
Income
Salaried: Rs. 30, 000/-
Self-employed: Rs. 3.50 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: Nil with variable interest rates
  • Late payment fees: Up to 24%
  • Processing fee: 0.75 to 1.00% + GST
  • Loan to Value Ratio: Upto 70% of the property value

Aditya Birla capital loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 2.00 Lacs to 75 lakhs
Self-employed: Rs. 2.00 Lacs to 75 lakhs
Companies : Rs. 2.00 Lacs to 75 lakhs
Eligibility
Salaried: 21 to 60 years
Self-employed: 21 to 60 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 9.00% to 9.75% p.a
Self-employed: 9.00% to 9.75% p.a
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit score:
Salaried:650+
Self-employed:650+
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 2 - 3 years
  • Foreclosure charges: 4% + ST as applicable
  • Late payment fees: 3% on Overdue Amount per month
  • Processing fee: Up to 1%
  • Loan to Value Ratio: Commercial property: Up to 60% of property value.
  • Loan to Value Ratio: Residential property: 70% of property value.

IIFL loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 5 Lacs to 10 Cr
Self-employed:Rs. 5 Lacs to 10 Cr
Companies : Rs. 5 Lacs to 10 Cr
Eligibility
Salaried: 23 and 65 years
Self-employed: 21 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: Residential Property: 10.50% - 14.00% and Commercial property: 11.25% - 14.00%
Self-employed: Residential Property: 10.50% - 14.75%and Commercial property: 11% to 16%
Companies and firms: Residential Property: 11% to 18% and Commercial property: 11.75% - 14.75%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit
Salaried:700+
Self-employed:650+
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 2 - 3 years
  • Foreclosure charges: 5% + ST as applicable
  • Late payment fees: 3% on Overdue Amount per month
  • Processing fee: Up to 3% of the loan amount + applicable taxes
  • Loan to Value Ratio: Commercial property: Up to 70% of property value.
  • ● Fixed obligation to income ratio(FoIR): 0.65

IIFL loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 2.5 Lacs to 8 Cr
Self-employed: Rs. 2.5 Lacs to 8 Cr
Companies : Rs. 2.5 Lacs to 8 Cr
Eligibility
Salaried: 23 and 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 11% to 15%
Self-employed: 11% to 16%
Companies and firms: 11% to 18%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit
Salaried:700+
Self-employed:650+
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 2 - 3 years
  • Foreclosure charges: 5% + ST as applicable
  • Late payment fees: 3% on Overdue Amount per month
  • Processing fee: 1% of the loan amount
  • Loan to Value Ratio: Commercial property: Up to 70% of property value.
  • Fixed obligation to income ratio(FoIR): 0.65

Fullerton India loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 3.00 Lacs to 25 Cr
Self-employed: Rs. 3.00 Lacs to 25 Cr
Companies : Rs. 3.00 Lacs to 25 Cr
Eligibility
Salaried: 21 to 60 years
Self-employed: 25 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 13.00% to 17.75%
Self-employed: 14.00% to 24.00%
Companies and firms: 17.75% to 24.00%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit
Salaried:650+
Self-employed:650+
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 2 - 3 years
  • Foreclosure charges: 4% + ST as applicable
  • Late payment fees: 3% on Overdue Amount per month
  • Processing fee: 1% + (Minimum Fee/Charges of Rs.5,000/-).
  • Loan to Value Ratio: Commercial property: Up to 70% of property value.

IIFL loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 5 Lacs to 10 Cr
Self-employed: Rs. 5 Lacs to 10 Cr
Companies : Rs. 5 Lacs to 10 Cr
Eligibility
Salaried: 23 to 65 years
Self-employed: 21 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 1Residential Property: 10.50% - 14.00% and Commercial property: 11.25% - 14.00%
Self-employed: Residential Property: 10.50% - 14.75%and Commercial property: 11% to 16%
Companies and firms: Residential Property: 11% to 18% and Commercial property: 11.75% - 14.75%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit
Salaried:700+
Self-employed:650+
Income
Salaried: Rs. 20, 000/-
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: 5% + ST as applicable
  • Late payment fees: 3% on Overdue Amount per month
  • Processing fee: Residential Property: 11% to 18% and Commercial property: 11.75% - 14.75%
  • Loan to Value Ratio: Commercial property: Up to 70% of property value.
  • ● Fixed obligation to income ratio(FoIR): 0.65

HDBFS loan against property/mortgage loan

Benefits
Loan Amount:
Salaried: Rs. 2.5 Lacs to 8 Cr
Self-employed: Rs. 2.5 Lacs to 8 Cr
Companies : Rs. 2.5 Lacs to 8 Cr
Eligibility
Salaried: 23 to 60 years
Self-employed: 21 to 65 years
  • Loan tenure: 15 years
  • Interest rate:
Salaried: 11% to 15%
Self-employed: 11% to 16%
Companies and firms: 11% to 18%
Repayment options: Lowest EMI amount: Rs. 1008/Lacs
Credit
Salaried:700+
Self-employed:650+
Income
Salaried: Rs.20,000 to Rs.25,000 monthly
Self-employed: Rs. 2.50 Lakhs/year
  • Business stability/work experience: 3 years
  • Foreclosure charges: 5% + ST as applicable
  • Late payment fees: 3% on Overdue Amount per month
  • Processing fee: 1% of the loan amount
  • Loan to Value Ratio: Commercial property: Up to 50% of property value.
  • ● Fixed obligation to income ratio(FoIR): 0.65

Check Your Loan Against Property Eligibility before Applying

Loan against property eligibility and different mortgage interest rates:

Age Limit: Must lie between 18 to 70 years

Monthly income:
Salaried applicants: The monthly income should be ₹ 20,000 or more.
Self-employed: The minimum annual income should be ₹ 2.5 Lakh and above
Mortgage Interest rates: 7.50% to 15.15%
Employment History:
Salaried Applicants: A minimum work experience of 3 years is required.
Self-employed: business existence of a minimum of 3-5 years.
Companies and business: Net investment up to ₹ 5 Cr.
CIBIL score: 650 and above
LTV: 40% to 75% of the value of the property
Property approval and documents: All the documents must be approved by banks.

How to Get the Best Mortgage Loan in India

If you are planning to avail of mortgage loans from Eazy bank loan or from any online platforms, it is advisable to compare LAP provided by different banks based on their interest rates, loan amount, loan tenure, processing fees, and other loan terms. Here are some steps for a borrower to avail transparent property loans at the lowest interest rates.

Step 1: Eligibility Criteria

It is necessary to know how much loan you are eligible for and calculate the monthly EMIs that you can effort easily. Your LAP eligibility is calculated based on your age( 18 to 60 years), net income for both salaried and self-employed, residential or commercial property type, and Loan to value ratio.

Step 2: Check original property documents and their approval status

To apply LAP, your property documents should have all statutory and government approvals.

Step 3: Check banks and their mortgage loan interest rates

After checking your eligibility and property documents, you’ll be assured about the loan but you need to check the lowest interest rate availability.

Step 4: Compare banks based on their charges, other features, and benefits

There are many banks offering LAP but you need to check all the additional charges, features, and benefits. The loan advisors like eazy bank loan can help you in the process of choosing the best bank for you.

Step 5: Choose the bank that offers the best services

Take your time and choose the bank that offers quick loan delivery and lower mortgage loan interest rates along with other features according to your needs.

Easy Bank Loan Loan Against Property Process

Here are some steps to follow:

● Step 1: You need to fill the loan application form online or visit the branch.

● Step 2: The loan provider will check your eligibility and show you loan options according to your needs and if you are not eligible for the loan then, the lender advises you on some alternatives like submission of additional documents or addition of a co-applicant

● Step 3: The loan provider will arrange a face-to-face meeting with you and collect a photocopy of your income, property, and KYC documents.

● Step 4: After this, a bank representative will collect the documents from the given address. You have to pay the technical charges and the processing fees.

● Step 5: The verification process will begin and the bankers can also check the number, residence address, and information authenticity. Your property will be verified by Bankers to evaluate its market value.

● Step 6: After the proper assessment of your property, the bank will approve your loan eligibility.

● Step 7: Bank will now approve your loan, provide a sanction letter, and proceed towards the disbursement of the loan amount

● Step 8: You need to submit original documents and mortgage registry documents completely signed and documents registered to the bank.

● Step 9: The registration process can take 4 to 5 working days. The Eazy bank loan representatives will guide you to avail of the loan with minimum effort.

Types of Mortgage Loan in India

People in India mostly prefer mortgage loans because it offers extraordinary benefits and features. Mortgage loans are secured loans where a borrower needs to keep their property as collateral to avail 40% to 70% loan to property value.

Here are 6 types of Loans against the property.

Loan against Property

Various Banks and NBFCs provide LAP to the borrowers against their residential and commercial property. The lender keeps the original documents of the property until the borrower pays the entire amount. The loan amount is generally paid in EMIs. The tenure lies between 5 to 20 years with some interest and processing rates charged on the amount.

Home loan

Home loans are generally taken to purchase, build, or renovate homes. The tenure for home loans is higher than 30 years. The loan comes with some interest rates and a borrower can’t use the amount for any reason apart from house building.

Commercial purchase

People apply for commercial loans to buy shops, office space, shopping complexes, and much more for their business expansion. The interest rate starts from 9.50%.

Second Mortgage loan

Borrowers can take a loan from their property twice. If someone needs an additional amount of loan from their property, the lender will check their credit score and provide them an additional amount as a loan.

Lease Rental discounting

One can easily avail of mortgage loans by leasing their residential or commercial properties. The rent can be inverted as the EMI to repay the loan amount, borrower avail from lease rental discounting.

Reverse Mortgage

The Reverse Mortgage loan was introduced by the government of India in 2007-08 especially for senior citizens. The main reason is the irregular income of senior citizens in India. In reverse mortgage loans, they can keep their property to avail monthly loan from the lender

Mortgage interest rates and charges by type of property

Type Of Properties

Industrial Property Commercial Property Residential Property
❖ Interest rate: 10.85% - 13.35% ❖ Interest rate: 8.35% - 15.15% ❖ Interest rate :7.50% - 15.15%
❖ Loan to value (LTV): 40% - 65% ❖ Loan to value (LTV): 40% - 75% ❖ Loan to value (LTV): 40% - 75%
❖ Processing fee: 0.20% - 1.00% ❖ Processing fee: 0.20% - 2.00% ❖ Processing fee: 0.20% - 2.00%
❖ FOIR: 0.65 ❖ FOIR: 0.65 ❖ FOIR : 0.55 - 0.65
❖ CIBIL: 650+ ❖ CIBIL: 650+ ❖ CIBIL: 650+

Documents for Loan Against Property

Here is the list of documents required for Loan Against Property which varies across lenders, salaried individuals, and self-employed.

Salaried Employees Self Employed/Professionals
Application Form: Completely filled with passport size photographs Application form: Completely filled with passport size photograph
Your Age Proof: Passport,10th standard certificate, or birth certificate Your Age Proof: Passport,10th standard certificate, or birth certificate
Residence Proof: Rent agreement, Voter's ID Card, Passport, Driving License, residence certificate, utility bills Residence Proof: Rent agreement, Passport, Driving License, residence certificate, utility bills
Education Qualifications: Latest Degree Education Qualifications: Latest Degree
Latest Salary-slips: last 3 months

Proof of Income:

  • Last 36 months Income tax returns of the borrower
  • Balance sheet, Profit & Loss accounts
Form 16: Last 2 years Proof of business existence: Certificates with business profile & last 1-year bank account statements.
Bank Statements: Last 6 months Processing Fee: Cheque
Property Documents: All the original and photocopies of the property documents. Processing Fee: Cheque
Property Documents: All the original and photocopies of the property documents
KYC documents:
ID proof: Driving license copy, Aadhaar card signature proof, passports
Residence proof: electricity copy, ration card copy
Date for birth proof- Birth certificate, 10th certificate, Passport copy
Financial documents:
Salary slips: Last 3 months
Bank statement: Last 12 months
Form 16: Mandatory
Income tax returns: last 2 years
Letters: Sanction letter and repayment history

Tips Keep in Mind While Applying for a Loan Against Property

A loan against property can be applied anytime with ease and convenience if you have legal property owned by you. Still, there are some important factors that you must know before you apply for a LAP. Check out some of the quick tips:

Have a valid reason to avail of a loan

Taking a loan is easy but repaying the loan on time is a daunting task. You need to commit to paying monthly EMIs for the specified term of the loan and it means a certain amount will be deducted from your salary or source of income along with the interest. The reason for taking a loan must be productive

Compare before taking a loan from any lender

Don’t trust any lender offering you a loan against property. Never take a loan in hurry and be sure about the lender and the interest rate. Before taking a loan from any bank or lender do some thorough research for all the options available to you. Taking a loan at low interest is always good and when in an emergency, you might make the mistake of taking a loan from any lender. Select the one which suits your requirements.

Maintain a good credit score:

A loan against property is a secured loan but the lenders provide a loan when the borrower’s credit score is 700 and above which is considered good and one must maintain this score.

Reapply after 6 months:

If your credit score is bad and your loan is not approved you can apply for a loan after 6 months’ time. You will get an ample amount of time to improve your score.

Key highlights of RBI Monetary Policy For Mortgage Loan

On 5th February 2021, the latest highlights of RBI monetary policy are:

  • Repo Rate: 4%.
  • Reverse repo rate: 3.35%.
  • Cash Reserve Ratio (CRR ): 3.5% & 4% effective from (27/03/21) & (22/05/21) respectively.
  • MSF & Bank Rate : 4.65%.
  • CPI Inflation: 5.2%./li>
  • Inflation eased below 6%.
  • FY22 GDP growth :10.5%

FAQs on Loan Against Property

One can use a loan against residential or commercial property for both personal and business purposes like for your wedding, education, the child’s higher education, home, medical emergencies, etc.

The lending bank looks at your repayment capacity. For calculating the loan amount, the lending bank will check your income, assets, liabilities, education & age, several dependents, spouse’s income, stability and continuity of occupation, and savings history.

The processing fees for the loan against property is around 1 percent and it varies from one bank to another bank.

The LAP can be availed by salaried, self-employed individuals, and companies for personal and professional needs. The age must lie between (18 to 65 years) and they must legally own a property.

Here are some of the advantages of LAP:

  • Competitive interest rate
  • Enjoy tax benefits on loans
  • Negligible prepayment charges
  • Easy to avail loans
  • Longer tenure to repay the loan amount
  • Lower EMI as compared to unsecured loan

One can avail LAP against residential and commercial property which is legally approved by banks or government bodies.

The EMIs will be due each month on a fixed date. You will get a notification on your registered number.

No, the processing fees charged by any bank is not refundable as some expenses are incurred during the processing of the loan amount.

Yes, one can prepay the loan amount within the given tenure by paying the full amount or in parts.

Branch: You can visit the bank and contact the lending person and he will guide you from filling the application form to availing of the loan amount.

Online: You can visit the bank’s website and fill the application form and get instant approval.

Virtual Assistant: The Virtual assistant is available round the clock and will assist you in getting the loan.

Phone: Feel free to call the customer care executive during working hours and avail of the loan or ask any questions to clarify your doubts.