A property loan is more than just money—Loan against Property (Mortgage Loan) is a loan that can avail by individual by mortgaging his property. Bank typically lend up to 70% of the value of your property as loan against property. The ratio is higher for residential properties and lower for commercial properties (50-60%).
Features & Benefits
High Loan Amount:-
Avail loans up to 60–75% of the current market value of your residential, commercial, or industrial property.
Attractive Interest Rates:-
Lower interest rates compared to unsecured loans due to the security of property.
Flexible Repayment Tenure:-
Loan repayment periods can range from 5 to 20 years, making EMIs more affordable.
Multiple Usage:-
Funds can be used for business expansion, education, wedding expenses, medical needs, or debt consolidation.
Ownership Retained:-
You continue to own and use the property even during the loan period.
Quick Processing & Disbursal:-
With valid documents and clear property title, loans are processed smoothly.
Tax Benefits:-
In some cases (especially for business use), you may claim tax benefits on interest paid under relevant sections.
Documents Required
For Salaried Individuals:
Aadhaar card / PAN card / Voter ID (Identity proof)
Utility bill / Rent agreement / Passport (Address proof)
Latest 3–6 months’ salary slips
Form 16 or last 2 years' Income Tax Returns (ITR)
Last 6 months’ bank account statements
Property papers (title deed, sale deed, tax receipts)
Passport-sized photographs
For Self-Employed Individuals:
Aadhaar / PAN card / Passport (ID & Address proof)
Business registration or license
Last 2–3 years' ITR with financial statements
CA-certified Profit & Loss and Balance Sheet
Business and personal bank statements (last 6–12 months)
Property documents (ownership proof and title clearance)
Photographs.
