Loan Against Property
Loan Against
Property
Avail Loan Against Your Property
Need Funds? Use your property to fulfill your financial needs and desires!
Loan against property is one of the best ways to take a loan for all your financial needs. Whether you need funds for higher education, any medical expenses, or any other personal use, a property mortgage loan is one of the fastest ways to secure a quick loan for fulfilling your immediate monetary needs. Explore this guide on how to get an easy Loan against property.
Features of Srajan Loan Against Property
- Higher Loan Amount (up to 5 cr)
- Attractive interest rates
- You can use this loan for any personal use!
Benefits of loan against property
- Competitive interest rates: Loan Against Property typically usually has lower interest rates compared to other unsecured / personal loans.
- Higher loan amount: Depending on the value of the property, the borrower can avail a higher loan amount.
- Higher loan amount: Depending on the value of the property, the borrower can avail a higher loan amount.
Eligibility Criteria for Loan against Property
| Property ownership | The borrower must be the owner of a residential property, which will be offered as collateral for the loan. |
|---|---|
| Property value | The property must have a minimum value specified by the lender to be eligible for Loan Against Property. |
| Age | The borrower must be at least 18 years old and not more than 70 years old, at the start of loan. |
| Income | The borrower must have a regular source of income, with a minimum annual income as specified by the lender. |
| Credit Score | The loan amount you can avail depends on your eligibility and credit score, with higher eligibility and credit scores result in a higher loan amount. However, we also fund customers who have a credit score of (-1). |
*Please note that the loan amount is also subject to the Loan-to-Value (LTV) ratio.
Documents Required for Loan Against Property
Identity Proof
Your PAN Card is mandatory, and any one of these:
- Passport
- Voter ID
- Aadhar Card
- Driving License
Address Proof
- Passport
- Voter ID
- Aadhar Card
- Electricity bill/ water bill/ telephone bill
- Driving License
Proof of Income
- Salary Slips/Bank Statement/Form 16
- Salary Certificate
Other Documents
- Signed Application Form with Picture
- Cheque For Processing Fee
- Bank Statement of Last 6 Months
Property Documents
- Title Deeds of the Property
- Proof of No Encumbrances on the property
Identity Proof
Your PAN Card is mandatory, and any one of these:
- Passport
- Voter ID
- Aadhar Card
- Driving License
Address Proof
- Passport
- Voter ID
- Aadhar Card
- Electricity bill/ water bill/ telephone bill
- Driving License
Proof of Income
- IT Returns and/or Financial Statements of last 3 years And/or
- Informal Income Documents
Other Documents
- Signed Application Form With Picture
- Cheque For Processing Fee
- Proof of business existence
Property Documents
- Title Deeds of the Property
- Proof of No Encumbrances on the property
Frequently asked questions (FAQ’s)
A Loan against property, as the name suggests is a loan that is secured against a residential or commercial property. For SME/MSME this loan can be availed for business expansion, inventory management, fulfill working capital needs, etc.,
Any individual, salaried or self-employed can avail Loan Against Property. The co-applicants can be partners or family.
You can mortgage various properties to avail a Loan. These could be:
- Residential properties which are self-occupied or rented (Apartment, House, Flat etc)
- Commercial properties such as shops, offices etc.
- A piece of land or plot owned by you.
Step 1: Submit loan application with all required documents for KYC, Income, Property title and Valuation. Apply here and our team will be in touch with you.
Step 2: Official visits for Field Investigation, Personal Discussion & Tele-verification.
Step 3: After clearance of all queries related to Income, Property Title and valuation, the sanction decision is made.
Step 4: Submission of all requisite documents for disbursal, post verification the disbursal is made. All key internal processes are handled by a dedicated and knowledgeable in-house team to ensure your application is given due attention and to maintain the highest level of confidentiality.
Yes. You can prepay or part pay the loan, subject to terms & conditions specified as per your sanction letter.
Loan amount is subject to our credit assessment and internal rating. We cap our SME/MSME loan amounts at 3 cr.
Tenure options are subjected to the credit worthiness of an individual. Usually our loans have options ranging from 3 years - 20 years.
Leave your details here and a member of our team will be in touch with you.