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Loan against Property (Mortgage Loan)

Basic Information

What is Loan against Property / Mortgage Loan?

Loan against property is a loan an individual can avail by mortgaging his property. A co-applicant is necessary for a person to apply for loan against property.

Loan Against Property can be used for

  • Marriage
  • Education
  • Business
  • Debt Consolidation
  • Purchase of Asset

Interest Rates – Loan Against Property (LAP)


Rate of Interest

Processing Fees

Axis Bank

9.00% - 12.50%

0.75% - 1.00% + Service Tax


9.00% - 12.50%

0.75% - 1.00% + Service Tax


9.00% - 12.50%%

0.75% - 1.00% + Service Tax


9.50% - 12.50%%

0.75% - 1.00% + Service Tax

LIC Housing

9.50% - 12.50%%

0.75% - 1.00% + Service Tax

PNB Housing

9.50% - 12.50%%

0.75% - 1.00% + Service Tax


10.00% - 15.00%

0.75% - 1.00% + Service Tax


10.00% - 15.00%

0.75% - 1.00% + Service Tax

India Bulls

10.00% - 15.00%

0.75% - 1.00% + Service Tax

SBI Home Loan

10.00% - 15.00%

0.75% - 1.00% + Service Tax


Eligibility – Loan Against Property




Family Income Per Year

Greater than or equal to Rs. 2,00,000

Min. Age and Max. Age

23 to 65 years for self employed professionals

Loan to Value (LTV) Against Property

Up to 60 % on SORP, Up to 50% on SOCP, Up to 50% on Rented property & Up to 50% on Plot/Vacant property

Resident Type

Indian & NRI

Employment Type

Salaried, Self Employed, Professional

Min Experience

Min 1 year in Service& 3 years in current business

Repayment Tenure

12 to 180 months for Loan Against Property

Loan Amount

10 Lakhs to 100Crores

Loan Eligibility - Salaried

Salary upto50K : 50%, Salary 50-75K : 60%, Salary above 75K : 70%

Loan Eligibility – Based on Net Income

· Eligible Loan Amount = [{(PAT + DEP+ Int on Loan)/12 - Monthly Obligation)} * (70% to 200%)/ Loan EMI per Lac ]


· Eligible Loan Amount = {(PAT + DEP+ Int on Loan) /12 - Monthly Obligation) * (multiplier)}

Loan Eligibility – Based on Banking

Eligible Loan EMI = Monthly ABB/20

Liquid Income Program

Eligible Loan Amount = [{(PAT * 3 + DEP+ Int on Loan)/12 - Monthly Obligation)} * 70% / Loan EMI per Lac ]

Repayment Track Program

Eligible Loan EMI = {(EMI * 1.5) - All running obligation EMI


45% of market value of property

Monthly Obligation

All running loans EMI is called obligations

Existing Loan Obligation

· Loan obligation should not more than 100% of net income

· New loan with Closure of existing Loan is a good option any time

Interest Rates

Between 10.00 % to 16 % reducing (Floating Interest)

Exiting Loan DPD

Not allowed or Provide valid justification for the same

Exiting Loan overdue Charges

If Current overdue - Not allowed or Required Proper justification or any other running loans clean track for support

Existing loan Settlement

A: If latest (Within 5 year) - Not allowed or Require any other clean running track with NOC / NDC of the overdue loan account


> 650 + (Subject to clean loan repayment in all running or past years)

Banking Track

· Clear banking with healthy transaction with Inward & outward bounces for Premium Banks


· If poor banking with some inward bounces - Please prefer B category banks/ NBFC's

Property Legal

· All approved property from proper authorities with clear title of property ownership - Eligible


· For any critical legal issues - check compatibility with the respective bankers/ NBFCs first - Check First

Tax Liability

All the Government taxes must be paid like - Income tax, VAT, Service Tax etc.

Customer Sign

All the documents must be self attested by customer

List of Documents for Home Loan & Loan against Property

Applicant & Co-Applicant

  1. KYC
    1. 2 Photos
    2. PAN Card
    3. Current Address Proof


  1. Banking & Proof of Income
    1. Salaried
      1. Latest Six Months Salary Bank Statement
      2. Latest 3 Months Salary Slip
      3. Last 2 Year's Form 16


    1. Self Employed
      1. Latest Twelve Months Bank Statement for all Banks
      2. Shop Act Licence/SSI Certificate/Any other Govt. Certificate for business stability proof.
      3. Last 3 years ITR set along with CA Certified Balance Sheet, Profit & Loss (P&L), Computation of Income, Tax Audit Report (If applicable) and all Schedule of Balance Sheets


  1. Property Documents
    1. Copy of Property Papers

(Allotment Letter, Sale Deed, POA, Conveyance Deed etc..)

    1. Copy of Approved Sanction plan
    2. Commencement Certificate / Completion Certificate / Any other applicable documents as per the law of the State / Government
    3. If Co-Operative Housing Society - Society Certificate & Share Certificate / Any other applicable documents as per the law of the State / Government


  1.  Firm/Company Documents (For Self Employed)
    1. PAN Card
    2. Partnership Deed for Partnership Firm
    3. MOA & Incorporation Certificate for Pvt. Ltd. company
    4. Office Address Proof
    5. Last 3 Year ITR & Tax Audit Reports
  2. Existing Loan Details


Provide all existing loan detail and documents:

1.         Welcome Letter

2.         Sanction Letter

3.         Statement of Loan Account

If CIBIL Issues - detail documents required

Ask about our low rate Loan Against Property?

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When should i apply?

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