A Property Loan, also known as a Loan Against Property (LAP), is a secured loan where you pledge your residential, commercial, or industrial property as collateral to avail funds for personal or business needs. It offers high loan amounts at competitive interest rates with flexible repayment options.
Advantages of Property Loan
High Loan Amount
Avail funding up to 60%–75% of the property’s market value.
Lower Interest Rates
Since it's a secured loan, interest rates are lower than personal or business loans.
Flexible Use of Funds
Funds can be used for business expansion, medical emergencies, education, wedding, debt consolidation, etc.
Longer Repayment Tenure
Loan tenure can go up to 15–20 years, making EMIs manageable.
Retain Ownership
You continue to own and use your property while it is mortgaged.
Top-Up Facility
Option to get an additional loan amount in future if eligible.
Tax Benefits
If used for business purposes, interest paid may be claimed as an expense under tax laws.
Eligibility Criteria
For Salaried Individuals:
Age: 21–60 years
Minimum 2–3 years of work experience
Stable income and employment record
For Self-Employed Individuals:
Age: 25–65 years
Minimum 3 years in current business/profession
Consistent income and positive financial history
General Criteria:
Ownership of a property with clear title and legal documentation
Good credit score (preferably 650+)
Sufficient repayment capacity
Documents Required
1. KYC Documents
PAN Card (mandatory)
Aadhaar Card
Passport / Voter ID / Driving License
Passport-size photographs
2. Income Proof
For Salaried Applicants:
Last 3–6 months’ salary slips
Form 16 / Income Tax Returns (last 2 years)
Bank statements (last 6 months)
For Self-Employed Applicants:
ITRs for last 2–3 years
Audited financial statements (P&L and Balance Sheet)
GST registration and returns (if applicable)
Business bank statements (last 6–12 months)