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.
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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
Email
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
Equated Monthly Installments (EMI)
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Total Amt Payable
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Frequently Asked Questions
1. What is a Loan Against Property?
A Loan Against Property is a secured loan where you pledge your property as collateral to secure funds from a lender. The property can be residential or commercial, and the loan amount can be used for both personal and business needs.
2. Who can get a Loan Against Property?
Property owners, whether residential or commercial, can apply for a Loan Against Property. Lenders consider factors like property value, income, and the applicant’s creditworthiness.
3. How much loan can I get against my property?
The loan amount varies but typically ranges from 50% to 70% of the property's market value. It depends on factors such as property type, location, and the borrower's repayment capacity.
4. What is the maximum repayment tenure for a Loan Against Property?
Loan Against Property tenures usually range from 12 months to 20 years. The exact term depends on the lender's policies, your repayment capability, and the loan amount.
5. What is the eligibility for a Loan Against Property?
Eligibility factors include property ownership, age, income, credit score, and the property's value. Lenders assess these criteria to determine the borrower's repayment capacity.
6. How is EMI calculated for a mortgage loan?
EMI (Equated Monthly Instalment) for a mortgage loan is calculated based on factors like the loan amount, interest rate, and tenure. You can use our mortgage loan EMI calculator to estimate your monthly payments.
7. Can I take a loan on my property?
Yes, you can take a loan on your property through KreditBee’s Loan Against Property. As long as you meet the eligibility criteria, which include being an Indian citizen between 22 years and 65 years years old, and provide the necessary documentation like property papers, identity proof, and income statements, you can leverage your property to secure a loan.
8. Is a Loan Against Property a good idea?
A Loan Against Property is a good idea if you need a large sum of money and own valuable property. It typically offers lower interest rates compared to personal loans and provides flexibility in terms of loan amount and tenure, making it an ideal choice for financing business expansions, education, or major life events.
9. What is the interest rate for a Loan Against Property?
The interest rate for a Loan Against Property on KreditBee starts from 12% per annum. This competitive rate ensures that your borrowing remains affordable, making it easier to manage your finances while benefiting from the loan.
10. When should I take a Loan Against Property?
You should consider taking a Loan Against Property when you need substantial funding for long-term financial goals, such as starting or expanding a business, financing higher education, or managing large medical expenses. It's also a good option when you want to leverage your property without selling it, allowing you to retain ownership while accessing funds.
11. Why avail of a Loan Against Property on KreditBee?
Avail a Loan Against Property on KreditBee to benefit from a high loan limit of up to ₹1 Crores, competitive interest rates starting at 12%, flexible tenure options, and a hassle-free application process. KreditBee’s fast disbursal and direct transfer to your account ensure you get the funds you need quickly and efficiently.
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