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Loan amount

High loan amount supported

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Loan Against Property EMI Calculator

Loan Amount

100
  • 50L
  • 2Cr
  • 4Cr
  • 6Cr
  • 8Cr
  • 10Cr

Tenure

100
  • 1Yr
  • 5Yr
  • 10Yr
  • 15Yr
  • 20Yr
  • 25Yr

Interest Rate

100
  • 8%
  • 11%
  • 14%
  • 17%
  • 20%

Monthly EMI

Total Interest

Total Payment

Apply now

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Qualification Criteria

23-70 years
All constitutions
1+
Freehold, non-agricultural

How it works?

Step 1
1

Fill your basic details and requirement in the form

Step 2
2

Choose the bank /NBFC you want to apply to

Step 3
3

Tata nexarc & bank / NBFC rep will reach out for documents

Step 4
4

Your property will get assessed for its value

Step 5
5

Final offer, agreement and NACH to be executed

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Frequently asked questions

What is loan against property?
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A 'Loan Against Property' (LAP) is a secured loan that is availed by pledging your existing property as collateral with the lender. This property can be a residential house, a commercial property, or even a piece of land.

What can loan against property be used for?
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A Loan Against Property (LAP) is a type of secured loan that can be used for a variety of purposes, as long as they are legal.The borrower is generally not restricted to using the loan for a specific purpose, as is the case with some other types of loans such as a home loan or auto loan. Here are some common uses for a Loan Against Property:
• Business Expansion: Entrepreneurs often use LAPs to raise capital for business expansion, such as opening a new branch, purchasing inventory, or investing in new equipment.
• Debt Consolidation: A LAP can be used to consolidate multiple loans into one, especially if the LAP offers a lower interest rate than the current debts.
• Education Expenses: A LAP can be used to cover higher education costs, such as tuition fees for yourself or your children, especially for education abroad where the costs might be high.
• Medical Expenses: In the event of a medical emergency or costly medical procedures, a LAP can be used to cover these costs.
• Home Renovation: If you're planning to remodel or renovate your home, a LAP can be a good way to finance these expenses.
• Wedding Expenses: In many cultures, wedding ceremonies can be quite expensive. A LAP can be used to cover these costs.
• Investment: Some people use LAPs to invest in another property or other types of investment opportunities. Remember, while a Loan Against Property can provide substantial funds and be used for a variety of purposes, it also comes with risk. If you are unable to repay the loan, you could lose your property. Therefore, it's important to carefully consider your repayment ability before opting for such a loan.

What will be the maximum Amount and Tenure for which the loan will be offered?
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The maximum loan amount a person can get against LAP is up to Rs 1 crore. However, the LAP should not exceed above 60% of the market value of the property. The maximum loan availed will vary from bank to bank.

How can I apply for Loan Against Property?
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Applying for a Loan Against Property (LAP) typically involves several steps. Please note that the exact process may vary depending on the lender and your country's regulations. Here are general steps to apply for a LAP:
Research Different Lenders: Different lenders may offer different interest rates, loan terms, and fees. Compare these factors, and consider the reputation and reliability of the lenders as well. You can usually find this information on lenders' websites, or you can contact them directly for more details.
Check Eligibility: Most lenders have certain eligibility criteria for a LAP, such as age, income level, credit score, and property value. Ensure that you meet these criteria before applying.
Prepare Documentation: The lender will typically require several documents, including proof of identity, proof of residence, proof of income (such as salary slips or tax returns), and property documents. Ensure you have all the necessary documents ready to expedite the application process.
Application: Once you've gathered all necessary documents, you can typically apply for a LAP online or at a physical branch of the lender. You'll need to fill out the application form and submit your documents.
Property Valuation: After you've submitted your application, the lender will usually have the property appraised to determine its market value. This will affect how much you can borrow.
Loan Approval: If your application is approved, the lender will offer you a loan agreement detailing the loan amount, interest rate, loan term, and other important details. Be sure to read this agreement carefully before accepting the loan.
Loan Disbursement: If you accept the loan agreement, the lender will then disburse the loan amount. This could be a lump-sum payment, or it could be in installments, depending on the agreement.

Can I take loan against my house?
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Yes, you can avail the loan on your residential as well as commercial properties while you continue to enjoy using it as before.

What property can be considered as collateral for loan against property?
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The type of property that can be used as collateral for a Loan Against Property (LAP) depends on the specific terms and conditions of the lender. However, generally, the following types of properties are commonly accepted as collateral for a LAP:
Residential Properties: This includes both self-occupied and rented residential properties like houses, apartments, and condominiums.
Commercial Properties: This could be a commercial building, office space, or shop that you own.
Industrial Properties: Warehouses, factories, or other industrial buildings can also be used as collateral for a LAP.
Mixed-Use Properties: These are properties that have both residential and commercial components.
Vacant Land: Some lenders may accept a piece of vacant land as collateral

What are the types of properties against which LAP can be taken?
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•Self-Owned and Self-Occupied Residential Property
• Self-Owned but Rented Residential Property
• Self-Owned Piece of Land
• Self-Owned Commercial Property
• Self-Owned but Rented Commercial Property

What is the minimum credit score required to get a LAP?
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The minimum credit score required to get LAP is a CIBIL score of 750 and more.

What can be the maximum repayment tenure and interest rate of the LAP?
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The maximum repayment tenure of LAP is 15 to 20 years. Whereas the interest rate will vary from bank to bank but the interest rate will range somewhat between 9.80% p.a to 16.60% p.a.