Loan against property, being a secured loan, carries a lower rate of interest than an unsecured loan
What is Loan
Against Property
A Loan Against Property (LAP) is a secured loan, wherein you can mortgage your residential, commercial, or special-use property to get immediate funds for various purposes, ranging from business expenditure to personal needs. In LAP, the property you own, which has a clear title, is kept with the bank as collateral or security, helping you get financial assistance in the form of a secured loan against property.Whether you are looking for a secured loan against a house or a business loan against property, LAP offers you the flexibility to access substantial funds based on the value of your property.

Features of Loan Against Property
Lower rates
Higher borrowing limits
Longer repayment terms
Access funds for your financial needs. Apply for a loan
against property now.
Contact Us
Benefits of Loan Against Property
Lower interest rate
Since the loan is secured by collateral, typically a house or commercial property, the interest rates on a secured loan against property are generally lower than unsecured loa
Lower to Nil Prepayment Charges
You can close your LAP by making prepayments. Many lenders offer Loan Against Residential Property without or with minimal prepayment penalties.
Easy to get
Being a secured loan, banks and NBFCs are more inclined to approve such loans, making business loans against property or residential property easier to obtain.
Longer tenure
These loans are generally available for longer tenure going up to 15 years while the tenure in case of personal loan is generally up to 7 years.
Lower EMI
There is an inverse relationship between tenure and EMI. Longer the tenure lower will be the EMI and vice versa. As these are available for a longer tenure, these become suitable for people who can’t afford to pay higher EMIs. However, it is always advisable that a person should take a loan for the shortest tenure as the interest burden will be lower in the case of short tenure loan.
Tap into your property's equity. Opt for a loan against
property for financial flexibility.
Contact Us
Eligibility criteria for Loan Against Property
Income of the applicant
The bank will assess whether your income is sufficient to pay the monthly EMI , net of all other expenses and financial obligations, if any
Age of the applicant
Age of applicant is important because the bank expects you to be paying your EMI within your working age, out of your monthly earnings. Hence the tenure of the loan is limited to the expected retirement age.
Value of property
A bank can recover its financed amount by sale of the property in question, if there is default in repayment of the loan. Hence, banks normally provide finance only upto 70-75% of the value of property being mortgaged, so that appropriate buffer is maintained to provide for price fluctuation and depreciation of the property over the period of the loan.
Existing Liabilities (if any)
If the applicant has any existing loans or any other financial obligations on a monthly basis, then the loan amount sanctioned reduces, because the EMI paying capacity on the new loan is reduced by the existing liability amount.
Dealplexus offers you
Maximum loan amount
You may be looking to get maximum loan amount irrespective of the rate of interest
Lowest Interest rate
Minimum processing fee
Quick disbursement
Long repayment tenure
Online process

Documents Required for Loan Against Property
Typically the following documents are required to be submitted to the lending institution while applying for a loan against property:
- Proof of identity:This should be an official document which contains your name and photograph. Could be either your driving license, passport, voter’s ID, PAN card, Employee ID (if the company is registered), etc.
- Proof of residenceA document that verifies your residence address could be either your phone / internet bill, rental agreement, bank account statement, gas bill, electricity bill etc.
- Bank statements of last 6 months
- Salary Slips of last 3 months (for salaried individual) and financial statements (i.e Profit and Loss a/c and Balance Sheet (for business applicants) for last 3 years
- Income proof:This can be your ITR/Form 16 of last 3 years
- Property Documents
For more detail on documents required or the process, you may connect with our support team at : support@dealplexus.com
Frequently Asked Questions
What is a Loan against property?
A Loan against Property (LAP) is a type of secured loan where the borrower pledges residential or commercial property as collateral to avail funds. It’s commonly used for personal or business needs.
Where can I get a loan against my property?
What is the interest rate for loan against property?
Which Banks offer the best rates on LAP?
Can I lend money against property?
Can I get a loan on 100% value of my property?
What is the document process for LAP?
What is the maximum term for which I can avail a loan against property?
Do I get tax benefits on a loan against property?
Can I close my loan against property before tenure?
Can salaried employees also get Loan against property?
Can anyone help me with Document process of Home Loan?