Loan Against Property in India
A Loan Against Property in India lets you unlock funds against your residential or commercial property without selling it. Apply Loan Against Property Online with Waqt Money and access a Secured Loan Against Property with transparent charges, a straightforward digital process, and repayment terms structured around your actual capacity to repay.
Loan-to-Value (LTV)
60% - 75%
Of property market value
Interest Rate
10.49% - 24% p.a.
Based on credit profile
Tenure
5 - 20 Years
Flexible repayment
Processing Fee
1% - 2%
+ Applicable taxes
What is a Loan Against Property?
A Loan Against Property is a secured loan where a Property Owner pledges a residential, commercial, or industrial property to a bank or financial institution as security for a loan. As a form of Mortgage Loan, it allows you to raise significant capital without giving up ownership or occupancy of the property.
Unlike unsecured loans where borrowing power is limited strictly to your monthly income, a Property Loan considers both your property's value and your financial profile. This combination typically enables a higher Loan Amount, lower Interest Rates, and a longer Repayment Tenure than an unsecured Personal Loan can offer.
Loan Against Property Eligibility Criteria
Eligibility is evaluated across two main categories: the applicant's financial profile and the property being pledged.
Salaried Individuals
- Age: 21 to 58 years (or retirement age).
- Income: Minimum ₹25,000 per month.
- Credit Score: 700+ for optimal interest rates.
- Work Experience: At least 2 to 3 years of total experience.
Self-Employed / Business Owners
- Age: 25 to 65 years.
- Business Vintage: Minimum 3 years of continuous operations.
- Turnover: Minimum ₹10 Lakhs annual turnover.
- Credit Score: 700+ with audited financials.
Required Documents
Personal & KYC Documents:
- Aadhaar Card, PAN Card, Passport, or Voter ID
- Current Address Proof (Utility Bill / Driving License)
Income & Financial Proof:
- Salaried: 3 months salary slips + 6 months bank statement + Form 16
- Self-Employed: 2-3 years ITR with computation + Audited Financials
Property Documents:
- Title Deed / Sale Deed / Conveyance Deed
- Approved Building Plan & Clearance Certificates
- Latest Property Tax Receipts
- Encumbrance Certificate (EC)
Loan Against Property vs Personal Loan
| Factor | Loan Against Property | Personal Loan |
|---|---|---|
| Collateral | Required (Residential/Commercial) | None (Unsecured) |
| Loan Amount | Higher — up to 60-75% property value | Lower — based on salary/income |
| Interest Rate | Lower (10.49% - 24% p.a.) | Higher (12% - 36% p.a.) |
| Tenure | Longer (5 to 20 years) | Shorter (1 to 5 years) |