A Loan Against Property is essentially a loan given against any property. The loan can be taken against fully constructed, residential, and commercial properties for business needs, marriage, medical expenses or any other personal needs.

Any Resident Indian Individual (salaried/ self-employed) can apply. Minimum Age: 21 or above

If property is co-owned, then the co-applicants can be family members, partnership firms, or even a Private Limited Company. Co-applicants may also be required for other reasons depending on applicant profile.

For Property Locations in approved list, please Check Here.

For Salaried Customers:

1. PAN
2. Aadhaar
3. Current Address Proof
4. Permanent Address Proof
5. Last 3 month’s salary slip
6. 6 months bank statement
7. Last 2 years ITR

For Self Employed customers:

1. PAN
2. Aadhaar
3. Current Address Proof
4. Permanent Address Proof
5. Last 2 years Income Tax Returns (ITR)
6. 12 months Bank Statement (for primary account where income is received)
7. Business License (or Registration Certificate)

In addition to above, Property Documents required (in all cases) are:

1. Sale or Title Deeds of the property
2. Proof of no encumbrances on the property (if past loan taken on property)
3. Approved plan (for self-constructed properties)

Usual it is offered from a duration of 12 months to 180 months (15 years)

Loan to Value (LTV) is a term that is used to express the ratio of a loan to the value of the Property mortgaged. The loan is usually offered in the range of 60% to 70% of the market value of the property depending from case to case and credit policy norms applicable at the time of approval. Please note, the value of the property is as per the Valuation done by the Approving Loan Company’s independent valuer and not as per Owner’s own estimate.

For Salaried Individuals: From 24 hours to 3 working days

For Self-Employed Individuals: Typically it may take between 48 hours to 5 working days

Please note, all the above depends on the time from submission of all relevant documents as per the Document checklist.

Repayment can be made by way of EMIs and can be made through multiple channels

1. Most preferred would Auto-Debit Instruction on Bank Account (Usually called as NACH)
2. Directly to the Lender on their website or Mobile app

No, If any property is owned Jointly, each owner has to be part of the Loan documentation. Which means, one person can be the Primary Applicant and the Other person can be a Co-applicant (or Co-borrower). The same is required as the property is not solely owned. Hence, please ensure that your other Owners are informed and part of the Loan application process, as their personal documents as well signatures would be required for the processing the Loan.

Immediate family members such as your parents, spouse and children are allowed to be joint borrowers (Co-applicants)

Normally a guarantor is not required; however, this would also depend upon the loan facility and financial strength of the customer.

When you apply for a Loan, then you must have evaluated the need for it. The same is required for you to inform at the time of application. The End use can Business Needs, Marriage, Travel, Medical expenses and other personal needs. It can also be for replacing your High Cost Personal loans with Lower cost Loan Against property being offered by us. Please mention end use when you are applying for the Loan.

Usually Customers with an existing LAP can apply for a Top Up Loan. You can apply for a Top Up Loan after 12 months' (repayment of 12 EMIs of your Loan) availed through our Platform.

No, Income Tax rules do not permit to include the interest expense or principal repayments are part of Tax Exemptions. The exemptions are applicable only to Housing Loans.

Your eligibility for a loan against property mostly depends on your income, your net monthly obligations and Credit History (as reported with various credit bureaus like CIBIL etc) and the value and nature of property among other factors.