Micro Loan Against Property

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A Micro Loan Against Property (LAP) is a secured loan that allows individuals or businesses to borrow funds by pledging their property as collateral. This loan is ideal for those in need of quick financial assistance, whether for personal needs, business expansion, or emergencies. The loan amount is typically determined based on the value of the property, ranging from ₹50,000 to ₹25 lakhs. Since it is secured, the interest rates on a micro loan against property are generally lower compared to unsecured loans, making it a more affordable option. The processing of these loans is usually fast, ensuring quick disbursal, which is a key advantage for borrowers in urgent need of funds.

These loans offer flexible repayment tenures, with the option to repay over several months or years, depending on the loan amount and the borrower’s financial capacity. One of the biggest benefits of a micro loan against property is that it comes with no specific end-use restrictions, meaning the borrowed amount can be utilized for any purpose, such as medical expenses, education, or business development. The documentation process is also relatively simple, typically requiring proof of identity, income, and property ownership.

Eligibility for these loans typically includes being between 21 to 60 years of age, having a steady income source, and being the legal owner of the property being pledged. While a good credit score may enhance the chances of approval and better loan terms, the secured nature of the loan means that the borrower is still eligible even with a lower score. In addition to the convenience and flexibility, borrowers can also benefit from tax deductions on interest payments if the loan is used for business purposes. Overall, a micro loan against property provides a quick, cost-effective solution for those who own valuable property but need access to immediate funds.

Loan Against Property

Loan Against Property Purpose

Unlock the potential of your property to fund personal aspirations, professional growth, or business expansion with our Loan Against Property.

  • Use our Loan Against Property to fund your Personal aspirations or exigencies.
  • Our Loans Against Properties can be put to good use to build your Profession.
  • Leverage our Loans Against Property to expand your Business.

Loan Against Property Eligibility Criteria

To be eligible for a Loan Against Property, you must be a salaried or self-employed individual with a property that meets our valuation and legal criteria.

  • Salaried Individuals can apply for loan against property
  • Self Employed Individuals can apply for loan against property
  • Minimum Age – 18 years
  • Maximum Age 70 (with Income Documents) and Age 90 (without income documents)
  • Loan Against Property Loan Tenure – Up to 15 years
  • Loan Against Property Loan Amount – Up to 30 Lacs
  • Applicant & Co-applicant – Maximum of 6 applicants in total co-applicants

Loan Against Property Benefits

Enjoy competitive interest rates, flexible repayment options, and quick disbursal when you opt for our Loan Against Property.

  • Maximum Loan to Value of Property
  • Fastest Approval
  • No Hidden Charges
  • Affordable Rate of Interests

Loan Against Property Documentation

Our home loans can be availed for Balance Transfers only on self-occupied residential properties. You can avail a maximum loan amount of ₹75 lacs.

Purpose Documents
Identity Proof
(Any One)
  1. Valid Passport
  2. Voter ID Card
  3. Aadhaar Card
  4. PAN Card
  5. Valid Driving Licence
Age Proof
(Any One)
  1. Valid Passport
  2. Voter ID Card
  3. Aadhaar Card
  4. PAN Card
  5. Valid Driving Licence
Address Proof
(Any One)
  1. Valid Passport
  2. Voter ID Card
  3. Aadhaar Card
  4. PAN Card
  5. Valid Driving Licence
  6. Latest Electricity Bill
  7. Latest Utility Bill (Telephone (MTNL/BSNL/ Non Private Service Provider), Water Bill, Property Tax Receipt)
Income Proof

    Salaried

  1. Salary Slips/6 month's Bank Statements / Form-16
  2. Salary Certificate (Cash Salaried Cases)
  3. Self-Employed

  1. IT Returns and/or Financial Statements of last 3 years / 1 year Bank statement
  2. and/or
  3. Informal Income Documents
Other Documents
  1. Application form with photograph duly signed
  2. Processing fee cheque
  3. Proof of business existence
Property-related documents
  1. Title Deeds of the Plot
  2. Proof of no encumbrances on the property
Application Form Completely Filled application form from all Applicant & Co-applicants

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