Loan Against Property

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Loan against property is a loan provided by the banks against the property of the borrower. The loan amount depends up on the value of the property. It is a secured loan and the customer needs to pledge its property as collateral. The property can be commercial as well as residential. By availing a loan against property, you can fulfil the requirement of finance.

If a person is not eligible for a personal loan due to low salary, he or she can easily take a loan against property.

Loan against property can be taken for the following reasons:

  1. To expand business
  2. For medical treatments
  3. For marriage
  4. For education expenses
  5. To fund dream vacation.

Check the eligibility criteria for Loan against Property:

  1. Any salaried or self-employed profile
  2. Monthly Income should be Rs.12, 000 or Net Annual Income (others) should be Rs.1, 50,000. One can add co-applicant to increase the loan eligibility. A co-applicant can be your spouse, parent, and brother.
  3. Maximum Age limit is 70 years.

Documents required

Salaried personSelf-employed businessmanSelf-employed professionals
Latest salary slipsEducation qualification and proof of current businessEducation qualification and proof of current business
Form 16Business profile – Last 3 years ITRLast 3 years ITR
Last 3 years profit/loss balance sheet
Application form with photograph
Last 6-month bank statement
Identity and address proof

Loan Against Property Interest Rates

Check the interest rates for a loan against property offered by various banks in the country. Interest rates may vary as per the different profiles. Compare the interest rates and choose the best deal. Also, consider processing fees, part-payment charges, and foreclosure charges. For detailed information, apply online and get the assistance of Dialabank.

Here is the list of Interest Rates from various Banks:

Name Of The BankLoan against property Interest Rates
State Bank Of India (SBI)14.95%-15.20%
HDFC12.65%- 12.90%
AXIS Bank10.15%
ICICI Bank13.25%
DHFL10.50%- 11.50%
Bank of Baroda13.25% – 14.0%
Reliance Consumer Finance10.50% – 11.50%
HSBC10.75% – 12.00%
ICICI10.75% – 11.75%

*Special Note: We do not provide a home loan or loan against property on B Khata Property.

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