Sub-Menu
Introduction
Are you looking to leverage the value of your property for financial flexibility? A Loan Against Property (LAP) on KreditBee offers a practical solution, allowing you to access the funds you need while retaining ownership of your asset. Whether you’re considering a significant investment, consolidating debts, or funding personal expenses, this loan provides a reliable way to achieve your financial goals.
With competitive interest rates and flexible repayment options, a mortgage loan can be tailored to fit your unique needs. This financial tool can help you make the most of your property’s value and support your ambitions with confidence.
With competitive interest rates and flexible repayment options, a mortgage loan can be tailored to fit your unique needs. This financial tool can help you make the most of your property’s value and support your ambitions with confidence.
Features and Benefits of Loan Against Property
Unlock a world of financial flexibility with KreditBee's Loan Against Property. Tailored to meet both personal and business needs, our mortgage loan offers a range of features designed to provide you with the support you need, when you need it most.
Loan Against Property up to ₹1 Crores
With a loan limit of up to ₹1 Crores, KreditBee ensures that your financial needs are easily met
Interest starting from 12% p.a
Enjoy a loan against property interest rate starting from 12% per annum, making it a financially sound choice for your borrowing needs
Tenure from 12 months to 20 years
Choose an EMI plan that aligns with your financial capacity, allowing you to repay your loan comfortably
Direct Transfer to Account
Funds are directly transferred to the borrower's bank account, ensuring quick access to the loan amount.
Fast disbursal
With a streamlined process, borrowers can expect rapid disbursal of funds, addressing urgent financial requirements efficiently.
Balance Transfer
The facility for transferring funds from other financial institutions is available on KreditBee.
Loan Against Property Eligibility Criteria and Documentation
The eligibility criteria for our Loan Against Property are based on our predetermined factors listed below, along with the necessary documents:
Features
- Loan amount from ₹1,00,000 to ₹1 Crores
- Interest Rates ranging from 12% to 25% per annum
- Flexible Tenure ranging from 12 months to 20 years
- Processing fee up to 5.1% + GST
- The loan will be secured against the property
- The collateral property will be valued by the property valuer
- Balance transfer from other financial institutions
Eligibility Criteria
- Indian Citizen
- Borrower’s minimum age to be at-least 22 years* and maximum age should be 65 years* at the time of maturity of loan(*deviations to be approved by respective credit authority)
- If co-applicant is present then co-applicant’s minimum age should be at-least 21 years* and maximum age should be 70 years* at the time of maturity of loan (*deviations to be approved by respective credit authority)
- Location of property not in blacklisted areas
- Minimum monthly personal income of ₹15,000 for Tier 2/ Tier 3 cities and ₹18,000 for Tier 1/ Metro cities
- Minimum monthly household income of ₹25,000
- Possess Government approved Valid Identity Proof & Address Proof
- Aadhaar-linked mobile number
Documents Required
- Photograph
- PAN
- Address Proof (Permanent & Current Address)
- Income Proof (Bank Statements reflecting Monthly Income)
- Employment Proof for salaried applicants
- Business ownership proof for business applicants
- Property titles, deeds, and documents
Other Fee & Charges
- Foreclosure charges
- 1. Foreclosure charges within the first 5 years of the loan tenure will be 5% of principal outstanding* + GST in case Foreclosure is opted
- 2. After the expiry of first 5 years the foreclosure charges will be 3% of the principal outstanding* + GST in case Foreclosure is opted
- Part-Prepayment Charges
- Part Prepayment Charges of 3% of principal prepaid* + GST will be charged in case Part-Prepayment is opted
- Penal Charges
- 1. EMI bounce charge (1st day): 4% of principal overdue* or ₹500, whichever is lower
- 2. Penal charges for 2-180 days: 36% per annum on principal overdue (+ GST if applicable on penal charges)
- Login Charges
- 1.Login charge of Rs. 3000 will be applicable on the application + GST will be charged on the login fees.
- *round to the nearest rupee
Application Requirements
- Mobile Number
- First & Last name
- Date of Birth
- Gender
- PAN
- Employment Type
- Monthly Income
- Address Proof
- PAN Photo
- Selfie
- Permanent Address
- Current Address
- Education
- Profession
- Marital Status
- Father/Mother / Spouse Name
- Reference Contact
- Co-Applicant Details
- Religion
- Number of Dependents
- Assets Owned
- Other Income Amount & Source of Other Income
- Income proof (for both salaried & business owners)
- Employment proof for salaried applicants
- Business ownership proof for business applicants
- Property Owner Name
- Property Type
- Classification of Property
- Current Market Value (Estd.)
- Address of Property
- Existing Loan Details for Balance Transfer
- Disbursement Bank Account Details & other Financier Bank Account details for Balance Transfer
- eNACH / UPI e-mandate
- Property titles, deeds, and documents
Mortgage Loan EMI
Easily estimate your monthly payments with our Mortgage Loan EMI Calculator. Our tool simplifies the process by providing quick and accurate calculations. Just input the loan amount, interest rate, and tenure to see how your payments will unfold over time. Our calculator is designed to help you make informed decisions, ensuring you choose a loan against property that suits your budget and financial goals. You can also adjust the figures to explore different scenarios and understand the impact of changes in interest rates or loan terms on your EMI. With user-friendly features, our EMI calculator makes planning your finances straightforward and stress-free
Frequently Asked Questions
1. What is a Loan Against Property?
2. Who can get a Loan Against Property?
3. How much loan can I get against my property?
4. What is the maximum repayment tenure for a Loan Against Property?
5. What is the eligibility for a Loan Against Property?
6. How is EMI calculated for a mortgage loan?
7. Can I take a loan on my property?
8. Is a Loan Against Property a good idea?
9. What is the interest rate for a Loan Against Property?
10. When should I take a Loan Against Property?
11. Why avail of a Loan Against Property on KreditBee?
Other Loan Products
A loan for every unique need.