How can I get a bank loan against my property?
Loan Against Property scheme is a secured personal loan which you can avail by pledging your property as a security or a collateral. These personal loan schemes are also known as mortgage loans. Loan Against Property interest rates range between 8.00% p.a. to 25% p.a. You can avail loans of up to Rs.
What is the interest rate of Axis Bank for loan against property?
For Loans on Base rate/MRR/BPLR: The Bank’s current base rate is – 8.50% The Mortgage Reference Rate (MRR) is 13.90% Basic Prime Lending Rate (BPLR) is 16.25%
Which bank is best for loan against property?
Loan Against Property Interest rates in India
| Lender’s Name | Interest Rate | Tenure |
|---|---|---|
| IDFC First | 8.00% p.a. onwards | Up to 20 years |
| HDFC Bank | 8.00% – 8.95% p.a. | Up to 15 years |
| ICICI Bank | 8.35% – 10.00% p.a. | Up to 15 years |
| State Bank of India | 8.45% – 10.00% p.a. | 5-15 years |
How can I get loan from Axis Bank for land?
Axis Bank plot loan can be availed by salaried and self-employed people who have a decent credit track record with a good credit score of above 650. Apart, you must show proof of a good income and occupation stability to avail land purchase loans Axis Bank.
Is it easy to get loan against property?
Loan against property eligibility criteria are easy to meet with doorstep services, making the process comfortable and hassle free.
Can we take loan against property?
Loan Against Property(LAP) can be availed by both salaried and self employed individuals for personal and professional needs(other than for speculative purposes) like marriage, Child’s education, business expansion, debt consolidation etc.
Can we take loan on property?
You can use your self-occupied residential or commercial property to borrow a loan. The property is used as collateral and the loan is disbursed by the lender as per the property value and your income to pay back the borrowed amount.
How much loan can I get against property?
The maximum amount you can get in the form of a loan is 60 times your salary. So if your net salary is ₹ 40,000 you can get a maximum loan amount of ₹ 24,00,000.
How is loan against property eligibility calculated?
The loan against property eligibility depends on whether you are a salaried individual, self-employed or an SME. Your repayment potential is assessed based on factors such as your income, age, nature of work, other fixed obligations and your credit history.