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Loan Against Property

Apply for Loan Against Property online. Get maximum loan amount with no income proof.

Group 1860

Easy EMIs

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Simple Documentation

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Quick Approval

Features

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Avail flexible repayment options

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Enjoy easy documentation

Key Details

ELIGIBILITY

Salaried person, self-employed professional or a self-employed non-professional.

PURPOSE

Business Expansion, Balance Transfer and Top-up

LOAN SIZE

Rs 10 Lakhs up to Rs 300 Lakhs

TENURE

3 years up to 15 years

Calculate your EMI instantly with Loan Calculator

Loan Amount
1L1C2C3C4C5C
Interest Rate
10%11%12%13%14%15%16%
Loan Tenure (Months)
24487296120144168192216240

Loan EMI

NaN

Total Interest Payable

0

Total Payment (Principal + Interest)

0

Interest Rates

Mean rate and Interest rate range for the quarter April 2024 – June 2024

Segment

Mean interest rate

Min Rate (in %) p.a.

Max Rate (in %) p.a.

Loan against property

19.24%

11.00%

24.00%

• Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.

Annualised Percentage Return (APR) for the quarter April 2024 – June 2024

Segment

Min Rate (in %)

Max Rate (in %)

Loan against property

12.00%

26.00%

Type of LAP

Type of Loan

Segment

Effective Rate Of Interest (p.a.) linked to MCLR / External Benchmark Rate

Fixed

Micro LAP, Business loan – Secured, General LAP & Agri

14.75% - 26.00%*

Fixed or Hybrid#

Others

11.00% - 18.00%*

# Hybrid: Fixed for 3 years and 6 months and thereafter floating interest rate

* Market Linked Benchmark (MLB): External Benchmark Rate is arrived based on Repo Rate published by RBI. Rate is published at https://rbi.org.in/home.aspx

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Our Charges

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Schedule of Charges

Charges

Details of Charges

Legal Charges

Rs.2,000/- for loan amount less than or equal to 5 lakhs

Rs.3,000/- for loans greater than 5 to 25 lakhs

Rs.5,000/- for loans greater than 25 lakhs


Processing Fees

Up to 2%


Admin Fee

Upto 0.2%


Login Fee (Non-refundable and part of processing fees)

Rs.2000/- inclusive of GST for loans upto 5 lakhs

Rs.3000/- inclusive of GST for loans greater than 5 upto 25 lakhs

Rs.5000/- inclusive of GST for loans greater than 25 lakhs


CERSAI Charges

Rs 50/- for all loans up to Rs 5 Lakhs and Rs 100/- for all other loans


Part Pre-Payment Charges (Fixed ROI period)

Up to 3% on prepaid amount


Part Pre-Payment Charges excluding corporate borrowers (Floating ROI period)

Nil if the end use of funds is other than Business 3% on Prepaid amount


Part Pre-Payment Charges for Corporate Borrowers (Floating ROI period)

Nil if the end use of funds is other than Business 3% on Prepaid amount


Foreclosure Charges (Fixed ROI Period)

Payment made through own funds of the borrower(s) - 3%

Payment made through funds/instruments from other financial institutions - 5% (Balance Transfer of loan to other institution)


Foreclosure Charges excluding corporate borrowers (Floating ROI Period)

Payment made through own funds of the borrower(s) - 3%

Payment made through funds/instruments from other financial institutions - 5% (Balance Transfer of loan to other institution) Individual borrowers(s) - NIL. If the end use is other than Business.


Foreclosure charges for Corporate Borrowers (Floating ROI period)

Payment made through own funds of the borrower(s) - 3%

Payment made through funds/instruments from other financial institutions - 5% (Balance Transfer of loan to other institution)


Cheque Bouncing Charges

Rs.500/-


Delayed Payment charges

36% per annum for the delayed days from EMI due date till the date of payment on the EMI due


Mortgage Creation/ Release Charge

As per applicable state laws


Stamp Duty

As per applicable state laws


Field Visit Charges

Rs.250 per visit for EMI collection


Documentation Charges

Rs.2580/-


Repayment Swap Charges

Rs.500/-


Charges for providing physical Statement of Accounts/No due certificate - Once in six months

Nil


Charges for providing photocopy of documents

Rs.500/-


Charges for providing physical Statement of Accounts/No due certificate - More than once in six months

Rs.500/-


Charges for Mortgage Release/Cancellation

Rs.1,000/-


Credit Shield

As Applicable


Personal Accident Cover

As Applicable


Property Insurance

As Applicable


Switch Fee

One time charge of 0.25% on loan principal outstanding or Rs 5,000/- whichever is higher


*Goods and Services Tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable)

• Application forms complete in all respects will be processed within 14 days from the date of receipt of application form.

• Wherever additional information / documentation is required to process the application form, the same shall be intimated to the customer within 14 days from the date of receipt of the application form.

• To make payments for the Loan via NEFT / RTGS, please contact your Home Branch – Branch Manager for further details

Loan Application Forms and Loan Agreements can be accessed in the Form Center
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Blogs

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