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Loan Against Property Must Read

LoanMoney assist you in obtaining Loan Against Property (LAP) by mortgaging your residential house or commercial property or industrial property (ies), to get your cash liquidity at cheap rates. It is secured loan on property where bank gives highest loan possible on your loan repayment capacity with lowest Rate Of Interest (ROI)

Salaried / Self Employed/ Professional can avail loan against property and land from Banks/ NBFC, which in turn keeps collateral security of property/ house / factory by mortgaging it. Loan amount is repaid as Equated Monthly Instalment (EMI)

Comparison of best deals for loans with Rate of Interest (ROI), tenure, loan amount from various banks and NBFC is provided by loanmoney.in for your ready references.

Products Under Loan Against Property

Normal Term Loan: Secured mortgage loan on property of borrower where whole amount is given to borrower in lump sum and borrower pays back in EMI which includes Principal loan amount as well as Interest on loan.

Overdraft loans (Drop Line OD/ Secured OD) Loan amount borrowers is eligible is kept in new current account opened by bank. Interest is charges on actual withdrawn by borrower. Rate of interest charged is slightly higher say 0.25% - 0.50% than normal LAP. However if borrower can save additional amount from his earning and keep in current account, then he can considerable save on actual interest paid over the tenure of loan. 

Purpose of Mortagage Loan

  • Expand your business
  • Renovate your home.
  • Buy a property on which loan is not available.
  • Refinance or Balance Transfer (B.T) on lower rate.
  • Plan a dream wedding.
  • Fund your child's education.
  • Holidays and much more.

How Does it Work ?

Mortgage or Loan against property is given as a certain percentage of the Market Value (M.V/ L.T.V Loan to Value) of the property which is generally between 50% and 65%. In case of land/ Commercial Property value to loan amount varies between 50 -65%. This loan belongs to the category of secured loan where there is a guarantee given by the borrower who uses the property as a collateral security. In the event of non paying the loan on schedule, bank after serving proper notices can repossess the property.

Finance on property mortgage can be from 10 Lacs to 5 Cr: It is calculated on EMI paying capacity of the borrower. In general, a person is assumed to be eligible to pay EMI up to 50-55% of total monthly earnings. Therefore for the purpose of obtaining the maximum loan amount a borrower is eligible to obtained by considering:-

  • Total Income: Income/ Earnings from all sources including rent and interest for a month
  • Existing liabilities: EMI on current loan of all types in a month
  • Net amount available to pay EMI for Proposed loan
  • 50-55% of balance left.
  • Rate of interest and tenure on per Lacs factor.
  • Balance amount as above divided by factor per month.

Advantages of Loan Against Property Mortgage

Loan on Property has the greatest advantage over personal loan in terms of :-

  • Amount of loan : Loan against property may get loan upto 5 Cr as against loan of 20 Lacs as personal loan.
  • Tenure and : Mortgage loan tenure is for Max 15 Yrs whereas Personal Loan / Business Loan is for 5 yrs
  • Rate of interest: Secured loan on Property rate of interest ranges from 11.5% to 13.75% whereas Personal Loan rates are 16-18%, and Business Loans rates are 18-20%.
  • Loan Against Property FAQ 

LoanMoney can provide Loan Against Property from:-

Loan Against Property from Nationalised Bank: Canara Bank, Allahabad Bank, Andhra Bank, Bank of India, Bank of Maharashtra, Central Bank of India, Dena Bank,IDBI Bank, Jammu and Kashmir Bank, Karnataka Bank, Punjab and Sindh Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijiya Bank, State Bank of India, Punjab National Bank and Bank of Baroda.

Loan Against Property from Private Bank: Bandhan Bank, Corporation Bank, DCB Bank, Federal Bank, IDFC Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, South Indian Bank, HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, Kotak Mahindra Bank, Standard Chartered Bank, HSBC Bank, Deutsche Bank, Induslnd Bank and RBL Bank.

Loan Against Property from Non Banking Financial Company (NBFC): DHFL Home, Indiabulls, Tata Capital, Bajaj Finserv, Capital First, Fullerton India, Aditya Birla Finance, LIC Housing Finance, Magma Fincorp, Reliance Capital and Tata Capital.

Know more about Loan Against Property

About Loan Against Property

A loan against property (LAP) is exactly what the name implies a loan given or disbursed against the mortgage of property. Loan against property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Read More...

Apply Loan Against Property

Apply for Loan Against Property  Get mortgage and private loans against property for any type - commercial or residential in India. Apply for loan against land or property loan with easy documentation, speedy approvals and nil foreclosure charges. Read More...

Loan Against Property Interest Rates

Check loan against property Interest Rates and apply loan against property with lowest EMI. Compare Loan Against Property Interest Rates in Delhi NCR for all your personal needs. Read More...

Loan Against Property Eligibility

Apply for loan against property by pledging your commercial or residential property as collateral. Get up to 60% of your property’s value with loan against property. Read More...

Loan Against Property Documentation

Documentation is essential for applying for any sort of loan against property. However, we take minute care to make our documentation process quick and as less complicated as possible. Read More...

Loan Against Property Process

A loan against property (LAP) is exactly what the name implies a loan given or disbursed against the mortgage of property. Loan against property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Read More...

 Loan Against Property Must Read

LoanMoney assist you in obtaining Loan Against Property (LAP) by mortgaging your residential house or commercial property or industrial property (ies), to get your cash liquidity at cheap rates.  Read More...

Loan Against Property Frequently asked questions (FAQ)

Have a Question regarding Loan Against Property? Check out Frequently Asked Questions about Loan Against Property. Find the answers to all your Loan Against Property queries and Get your clarification right here. Read More...

 
Apply Loan Against Property

 

It is a type of unsecured loan and helps to meet your current financial needs. You don't need any security/collateral while availing it. Personal Loan is your solution for instant cash and can be used for travelling, wedding, medical emergency, home renovation, or anything else.

 

Home Loan is a Secured loan offered against the security of a house/property which is funded by the banks and NBFCs the property could be a personal property or a commercial one. Home loans consist of an adjustable or fixed interest rate and payment terms.

 

Loan Against Property belongs to the secured loan category where the borrower gives a guarantee by using his property as security. Banks and financial institutions offer this LAP, which can either be a residential/commercial building or a piece of land.

 

A Business Loan is a loan specifically intended for business purposes. As with all loans, it involves the creation of a debt, which will be repaid with added interest. Banks and other financial institutions are there to provide you with suitable lending assistance.

Different Purposes for Personal Loan through LoanMoney

Marriages are made in heaven and its celebration is one of the happiest and memorable events for married couples and their families. Wedding loan is available to people looking to meet their wedding expenses in order to make the wedding a grand success.
A Medical Loan is extended by a bank or a financial institution under the category of personal loans. A medical loan can be used for multiple emergency purposes such as an operation, surgery, procedure, therapy or for any concern related to health.
Balance transfer is the process where a customer transfers his outstanding principal amount to another bank or financial institute primarily for a better rate of interest and also for better features. Balance transfer reduces your interest rates and finally ensure saving.
The Credit Card Payment Loan is designed to allow you to take control of your finances and pay your credit cards off faster. This is made possible by consolidating your high-interest card balances into one monthly payment at a fixed rate and term.
The Education Loanaims at providing financial support from the bank to deserving/ meritorious students for pursuing higher education in India and abroad. Students enrolled in career-oriented courses e.g. medicine, engineering, management etc, can avail this.
Travel loan is a kind of Personal Loan that you can apply while planning a travel. It can help to cover the costs associated with your holiday, such as airfares, accommodation, hotel fares, tour packages, travel gears/accessories, or any other type of expenses associated with your travel.
Debt consolidation/ Financial Restructuring is a process to streamline one’s financial stability and debt. Thus by consolidating many small debts with one debt, one gets favourable payment off terms and lower burden of EMI.
Home is the place where your story generates. Home Renovation Loans are designed for the purpose of renovating a house and can be taken by a person who owns the property to be renovated.

Disclaimer: LoanMoney is not a Loan Providing Organization. We are facilitating the Loan Process from various Banks & NBFC. The rate, eligibility criteria, term & conditions of various banks are subject to change as per bank discretion. We try our best to keep the data up-to-date, but we can't guarantee the accuracy of data provided in this site. LoanMoney help you to embark on your dream at the right time with many Banks/NBFC's Loan opportunities available! Follow a few simple steps to help LoanMoney team understand your requirements.

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