Easily Avail
loan against your property through Finaider

  • Milestone events such as going for higher education, marriage, buying property, renovation, refurbishment, funding in business are life goals we all look forward to. While these goals are heartfelt and cherishing, but they could also be fairly demanding in terms of finance.
  • These may push you to think hard about how to fund these demands.
  • In such a situation, your property could prove to be your biggest strength. You can conveniently apply for a Loan Against Property to organize funds at a short notice while the process is hassle-free for your expenditures.
  • Loan Against Property harnesses the value of your commercial or residential property to help you meet personal expenditures today. If you are considering a Loan Against Property, it is advisable to seek a reputed financial partner for pricing benefit. It may also help you to get customized features and range of benefits depending on your requirement.
  • This way, your property could help you fulfil all your dreams and goals conveniently and affordably.

Features & Benefits


It comes with flexible tenure of up to 180 months which helps in reducing the monthly EMI as it can be availed at lower interest rate compared to personal loans.

Top Up

When you take a property loan, you can even opt for a top-up funding. The latter can be taken only on existing LAP.

Who can avail

Enjoy tax benefit of up to Rs 2 lakh on the Interest Amount and up to Rs 1.5 lakh on the Principal Amount under section 24 and section 80C respectively, of the Income Tax Act.

Property ownership

You get the benefit of paying the loan either through equated monthly installments or overdraft facility, whichever is suitable.

Overdraft Facility

You get the benefit of paying the loan either through equated monthly installments or overdraft facility, whichever is suitable.


It differs across lending institutions and loan schemes. However, common set of housing loan eligibility criteria is given below:

  • Nationality : Indian Residents and Non Resident Indians (NRIs)
  • Age Limit : 21 – 70 years
  • Work Experience : Minimum 2 years (for salaried)
  • Business Continuity : Minimum 3 years (for self-employed)
  • Minimum household Earning : Rs. 50,000 per month (varies across lenders & locations)
  • Loan amount : Up to 75% of property value

Frequently Asked Questions!

Any loan against a residential or commercial property can be used for both personal and business purposes. In fact, you can use it for anything other than speculative or non-prohibitive activities.
Basically, the bank looks at your repayment capacity. For calculating the loan amount, your income, age, qualifications, number of dependents, spouse’s income, assets, liabilities, stability and continuity of occupation and savings history are taken into consideration. However the eligibility of loan does not, generally, exceed 60 percent of the market value of the property
You can include your spouse as a co-applicant and that results in a higher amount being lent. However, if the property is co-owned, all co-owners mandatorily need to be co-applicants.
Processing fee for loan against any property varies from bank to bank and is generally around 1 percent
Interest is calculated on daily reducing balance. Your monthly out-go (equated monthly installment – EMI) is much lower as compared to the interest on annual reducing balance.
Loans against property has a maximum tenure of 15 years, subject to the condition it does not exceed your retirement age. This condition however can be flexible in certain cases
You repay the loan in Equated Monthly Installments (EMIs) comprising principal and interest. Repayment by way of EMI commences from the month following the month in which you take full disbursement.
As the name implies you need to mortgage your property for availing this loan. This mortgage is Equitable mortgage by Memorandum of Entry by way of deposit of title deeds and/or such other collateral security, as may be necessary. Collateral security for by way of assignment of insurance policy or any such other assignable financial instruments are also required, as security to loan if deem necessary by the Bank. Please do ensure that the title to the property is clear, marketable and free from encumbrance. To elaborate, there should not be any existing mortgage, loan or litigation which is likely to affect the title to the property adversely.
Yes. Prepayment is possible and there is no prepayment fee if you repay the loan after six months of availing the loan if you pay from your own source of funds without transferring the loan
The repayment capacity of the applicant(s) based on Resident status is reassessed and a revised repayment schedule worked out. The new rate of interest will be as per the currently applicable rate of Resident Indian loans (for that specific loan product). This revised rate of interest would be applicable on the outstanding balance being converted.