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Bank

Interest

Amount

Tenure

Processing Fee

Action

State Bank of India
8.45% p.a.- 10.00% p.a.
Up to 7.5 crore
3-15 years
Contact the bank
HDFC Bank
8.00% p.a. - 8.95% p.a.
Up to 65% of the value of the property
Up to 15 years
Contact the bank
IDFC First
7.5% p.a. onwards
Up to Rs.7 crore
Up to 20 years
Contact the bank
TATA Capital
10.10% p.a. onwards
Rs.10 lakh – Rs.3 crore
Up to 15 years
ontact the bank

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Axis Bank
7.90% p.a. -9.30% p.a.
Rs.5 lakh – Rs.5 crore
Up to 20 years
Contact the bank
Kotak Manindra Bank
9.5% p.a. onwards
Rs.10 lakh – Rs.5 crore
Up to 15 years
Contact the bank
IIFL
11.50% to 25% p.a.
Up to Rs.10 crore
Up to 10 years
Contact the bank
Edelweiss Financial Services Ltd
As per the terms and conditions
Up to Rs.25 crore
Up to 15 years
Contact the bank

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*The interest rate depends on loan amount availed by the customer as well as the type of loan scheme and several other factors based on the terms and conditions of the lender.

Factors affecting Loan Against Property interest rate

  • Loan Tenure - The repayment tenure determines the interest rate charged by the bank. Shorter the repayment tenure, higher will be the rate of interest charged.
  • Credit Score - You must have a credit score of 700 and above if you wish to avail a loan against property at lower rates of interest.
  • Type of property - The market value and the type of property determines the interest rate charged by the lender.
  • Profile of the applicant - The age, occupation, income, etc. also determines the interest rate charged by the bank.

SBI Bank Loan Against Property

Key Features:

  • Offered to customers with residential and commercial properties.
  • The minimum loan amount that can be availed is Rs.10 lakh and the maximum loan amount is Rs.7.5 crore.
  • Processing fee is set at 1% of the loan amount plus service tax, subject to a maximum of Rs.50,000 plus service tax.
  • To be eligible for the SBI Loan Against Property, the applicant should have a minimum monthly income of Rs.25,000 or Rs.3 lakh p.a.
  • No prepayment penalties with the SBI Loan Against Property.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
SBI 1% Nil The loan should be liquidated before the eldest borrower reaches 70 years of age.

HDFC Bank Loan Against Property

Key Features:

  • Resident Indians who are salaried or self-employed are eligible for this loan scheme.
  • Flexible loan tenures up to 15 years.
  • Quick and hassle-free documentation process.
  • The borrower can use his/her residential or commercial property as collateral to avail the loan.
  • Simple monthly installments repayment options.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
HDFC Bank 1% of the loan amount NIL Contact bank for information

IDFC First Bank Loan Against Property

Key Features:

  • Loans of up to Rs.7 crore.
  • Avail up to 80% of the value of your property as loan.
  • Flexible loan tenures up to 20 years.
  • Loans offered to borrowers with commercial properties, small and medium enterprises (SMEs), residential plots, or those with a rental income.
  • Salaried and self-employed individuals are eligible for this loan scheme.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
IDFC First Up to 3% of the loan amount As per the terms and conditions As per the terms and conditions

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Tata Capital Loan Against Property

Key Features:

  • Quick and hassle-free documentation and approval process.
  • Wide range of collaterals – residential, commercial properties, etc.
  • Pre-qualified loan top-up.
  • Availability of the overdraft facility.
  • Competitive interest rates and flexible repayment plans.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
Tata Capital 1.25%-2% + GST of the loan amount 4% + GST 25 years to 60 years

Axis Bank Loan Against Property

Key Features:

  • Loans starting at Rs.5 lakh.
  • Overdraft facility available.
  • Transfer existing loan to Axis Bank.
  • Flexible tenure options with attractive interest rates.
  • Loans offered for as low as Rs.5 lakh.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
Axis Bank 1% of the loan amount or Rs.10,000 whichever is higher At the discretion of the bank Contact bank for details

IIFL Loan Against Property

Key Features:

  • Minimum documentation required during the application process.
  • Quick loan approval.
  • Flexible repayment options.
  • Doorstep banking available.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
IIFL Contact the bank for more information NIL Contact the bank for more information

Kotak Mahindra Bank Loan Against Property

Key Features:

  • The Kotak Mahindra Bank Loan Against Property can be availed for purposes such as education, travel, and other personal expenses.
  • Applicants can use their residential property, commercial or industrial properties as collateral.
  • Flexible eligibility criteria.
  • Interest rates are lower than usual personal loan products.
  • Hassle-free online application process.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
Kotak Mahindra Bank Maximum 1% of the loan amount + GST Contact the bank for more information Between 21 years and 65 years

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Edelweiss Loan Against Property

Key Features:

  • Quick online application process.
  • Loan amount you can avail will be at the discretion of the bank
  • Minimum documentation required to avail the loan.
  • Flexible tenure options. Tenure will depend on factors such as loan amount, interest rate, etc.
  • Competitive interest rates on the borrowed sum.
Bank/Lender Processing Fee Pre-closure Charges Age Criteria
Edelweiss Financial Services Ltd. 1% of the loan amount At the discretion of the bank As per the terms and conditions set by Edelweiss Financial Services Ltd.

Eligibility criteria for Loan Against Property

Type of property The property should be in India, be it a residential or commercial property.
Minimum and maximum age 25 to 65 years
Employment type Salaried or Self-employed
Net monthly income Rs.25,000 minimum monthly income
Others Legal property documents authorized by the Government of India - Registration Certificate, Property Tax Receipts, Sales Deed, etc.

Documents required to apply for the Loan Against Property

Proof of Identity PAN card, Passport, Driving License, etc.
Proof of Address Passport, Electricity Bill, Aadhaar card, etc.
Property Documents Copy of original sale deed, allotment-possession letter, NOC from society.
Income Proof Latest Income Tax Return Certificate, Form 16, salary slips, audited financial sheet, certificate of practice, qualification certificate, Shop Act License, Sales Tax Certificate, etc.

How to apply for Loan Against Property?

  • The customer has to visit the website of the financial lender and apply for the loan online.
  • The customer support team of the lender will get in touch with the applicant and request for the submission of relevant documents.
  • The lender will then verify the documents submitted and then inspect the property of the applicant.
  • If the application is approved, then the loan amount will be credited in the bank account of the customer.

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