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A loan against property or Home Equity is a secured loan that helps you avail of credit using your existing property as collateral. A LAP loan has zero restrictions, which means you can use it to finance any big-ticket expense. With a loan on property, you can benefit from the value of the property while you continue to occupy it.
When you avail of a loan against property, you submit your property documents with us as collateral. This is also called a mortgage loan against property.
With Tata Capital, you can get a property loan for all your needs-
Disclaimer: Loans against Property are at the sole discretion of Tata Capital Limited (TCL). Terms and conditions apply.
Do you know that your home holds the key to your future? Whether you want to expand your business, or you need funds for your personal use, our Loan Against Property will cover all your financial needs. We offer an array of attractive options based on your specific needs along with flexible property loan tenure and attractive interest rates.
Our loan on property has unrestricted usage and can be used to avail a Loan against property, mortgage loan against property, business loan against property, and much more.
LAP Loan Amount
₹ 5,00,000- ₹ 5,00,00,000
LAP Loan Tenure
12- 240 months
Interest rate starting @
10.10% p.a
By opting for a Loan Against Property from Tata Capital, you can leverage the equity in your property as collateral to secure funds for urgent needs such as education, medical emergencies, business expansion, or personal commitments. Here are its key features:
With Tata Capital, you get multiple options to avail of a loan on property. These include-
Loan against residential property
Loan against commercial property
Loan against industrial property
Loan against land/plots
To avail of a loan against property, the property must be self-owned by the borrower.
Applying for a loan against property online is quick and easy. The first step is to check if you meet the following LAP eligibility criteria:
For Salaried Employees-
For Self-Employed Individuals-
If you meet these criteria, follow these steps to apply for a loan against property online with Tata Capital:
Step 1: Visit this website: https://www.tatacapital.com/loan-against-property.html
Step 2: Click on the “Apply Now” button on this page.
Step 3: Provide your personal and property details in the application form.
Step 4: Submit the application form along with the required documents.
That's it! Once we successfully verify the application form and the submitted documents, the sanctioned loan amount will be disbursed to your account in no time.
You can avail of a loan on property for various purposes.
Loan on property to start or expand a business
Loan on property to meet Working Capital Needs
Loan on property for Consolidation of Debt
Loan on property for Mortgage Buyout
Loan on property for Investment
Asset Allocation
Renovation of Property
Asset Acquisition
Refinance of Self-financed Property
If you're a salaried individual, you must fulfil the following loan against property eligibility criteria:
Segment - Working in MNC / Public Ltd. Co/ Large Pvt. Ltd. Co./State Govt/ Central Govt. / PSU
Age - Minimum- 23 Years and Maximum- 65 Years or age of retirement - whichever is earlier at loan maturity
Income per annum - Rs 2,40,000
Occupational Stability - Minimum 3 Years
If you're a self-employed professional, you must fulfil the following loan against property eligibility criteria:
Segment - Doctors, Architects, Chartered Accountants
Age - Minimum- 23 Years and Maximum- 70 Years at loan maturity
Income per annum - Rs 2,50,000
Occupational Stability - Minimum 3 Years
If you're a self-employed individual, you must fulfil the following loan against property eligibility criteria:
Segment - Traders, Retailers, and Wholesalers
Age - Minimum- 23 Years and Maximum- 70 Years at loan maturity
Income per annum - Rs 2,50,000
Occupational Stability - Minimum 3 Years
| Total Exposure | LEI to be obtained on or before |
|---|---|
| Above Rs.25 Cr | April 30, 2023 |
| Above Rs.10 Cr upto Rs.25 Cr | April 30, 2024 |
| Rs.5 Cr and above, upto Rs.10 Cr | April 30, 2025 |
Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans: If an Individual Borrower has taken an EMI based loan for personal purpose and has chosen Adjustable Rate of Interest (‘AIR') or Combined Rate of Interest, in case of reset of the rate of interest, the Borrower has the option to switch to ‘Fixed Rate of Interest’ or opt for enhancement/reduction in EMI or tenure or combination of both. To know more about the options available and the possible impact of each of the available options, click here.
Loan Against Property | 13 Jan, 2023
Loan Against Property | 30 Nov, 2022
Loan Against Property | 08 Nov, 2022
Loan Against Property | 08 Aug, 2022
Both salaried and self-employed individuals can apply for a loan against property with Tata Capital. The eligibility criteria are as follows:
Salaried employees-
Employed with an MNC, Public Ltd. Co., Large Pvt. Ltd. Co., State Govt., Central Govt., or PSU.
The minimum age is 23, and the maximum is 65 or the retirement age, whichever is earlier, at loan maturity.
Annual income of at least Rs. 2,40,000.
Minimum 3 years of occupational stability.
Self-employed individuals (doctors, architects, CAs, traders, retailers, and wholesalers)-
The minimum age is 23, and the maximum is 70 or the retirement age, whichever is earlier, at loan maturity.
Annual income of at least Rs. 2,50,000.
Minimum 3 years of occupational stability.
Your credit score is a numerical representation of your creditworthiness. A higher credit score can help you secure a loan against property at better terms, such as an improved repayment tenure and lower interest rates. Generally, maintaining a good credit score increases the likelihood of loan approval.
At Tata Capital, we accept a diverse range of properties as collateral for a loan against property. You can mortgage commercial, residential, or industrial properties. These can include:
This variety of options provides flexibility in securing the loan you need.
Interest rates can be crucial when it comes to determining where to secure your loan from. At Tata Capital, we offer one of India's most competitive interest rates.
The following factors are considered while determining a loan’s interest rate.
You can calculate your monthly EMI based on your loan amount and the interest rates offered to you through our loan against property EMI calculator.
Yes, age is one factor determining your eligibility when applying for a lap loan. The minimum age is 23 years, while the maximum age is 65 years or the age of retirement, whichever is sooner. For self-employed individuals, the maximum age is increased to 70 years.
Generally, younger individuals have a better chance of securing a lap loan than someone close to retirement. They also get the benefit of applying for a longer loan tenure.
Tata Capital strives to ensure a quick and hassle-free loan application process for its customers. With the online application, the duration of the complete loan application for a loan against land will not take more than a few days.
Before applying, it is important to check whether you meet the following loan eligibility criteria.
Yes, Tata Capital offers an efficient and hassle-free process for accommodating a balance transfer from another lender to us. Thanks to our speedy approval process, you can transfer your existing loans to Tata Capital and start your new loan journey with us in just a few days.
By opting for a balance transfer of your existing loan against property to Tata Capital, you can avail of the following benefits.
At Tata Capital, we believe in complete transaction transparency with our customers. So, you don’t have to worry about any hidden costs, as all the charges levied will be transparently conveyed to you.
When availing of a loan against land, you might come across the following charges.
Miscellaneous charges include costs like account maintenance, loan cancellation, cheque bounce charges, etc.
Yes, failing to repay the loan may put your property at risk. If you fail to repay your loans or default on your EMIs for three consecutive months, Tata Capital can declare you an NPA (Non-performing asset).
Once that happens, your property can be auctioned to recover losses. Furthermore, the credit score of both you and your co-borrower can take a big hit, which may negatively impact your future loan applications.
To make sure you don’t default on your loan repayments, it is encouraged to use the EMI calculator to preplan your finances before applying.
Yes, Tata Capital allows you to apply for a lap loan along with a co-applicant. In such cases, both applicants' income stability and credit score are considered during the loan approval process.
Applying for a combined loan is beneficial since it distributes the financial burden evenly between the two applicants. However, both applicants must pass the eligibility criteria and provide the necessary documents during the application.
Tata Capital provides you with the option of prepaying or foreclosing your loan. This option is available after the lock-in period (first 12 months after the disbursal of the loan amount) lapses.
However, foreclosing your loan will attract foreclosure charges. At Tata Capital, 4% of your outstanding principal amount and GST is charged as a foreclosure fee.
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