Loan Against Property F.A.Q.

You have a question? Someone else might have had the exact same one. Let's find out!

You can avail of Loan against Property against Residential & Commercial Property for either your personal or business activities other than speculative or non prohibitive activities.. You can check your eligibility here

We are constantly trying to bring you the best rates possible from the various banks and NBFC’s. Every detail is checked and verified internally to arrive at the best fit lender for your needs, so that rejections are almost nil. Since we are neutral platform, we do not push nor promote any lender. Only the best deals basis your eligibility is presented to you for further processing. Moreover, all the services are completely free of cost to you.

You can include your spouse as a co-applicant for the Loan. His / her income can be added to enhance the loan amount. However all co-owners of the property should necessarily be the co-applicant.

Processing fee for loan against any property varies from bank to bank and is generally around 1 percent.

Interest is calculated on daily reducing balance. Your monthly out-go (equated monthly installment – EMI) is much lower as compared to the interest on annual reducing balance.

You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement.

Yes. Prepayment is possible and there is no prepayment fee if you repay the loan after six months of availing the loan if you pay from your own source of funds without transferring the loan.

The repayment capacity of the applicant(s) based on Resident status is reassessed and a revised repayment schedule worked out. The new rate of interest will be as per the currently applicable rate of Resident Indian loans (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted. A letter is given to the customer confirming the change of status.