LOAN AGAINST PROPERTY

Overview

Your property is truly one of the most valuable assets you possess. You can use that property (both residential and commercial) as security to get immediate access to funds through our Loan Against Property. Your can meet your business aspirations or any other personal requirement that shouldn’t  be compromised.  We have put the power in your hands to make the best out of your property and your finance. 

How does one take a Loan Against Property?

We have made the process of Loan Against Property simple. You just have to follow these easy steps:

  • Check your eligibility online
  • Select your loan amount and tenure
  • Submit your application & documents
  • Get your money in the bank account

What are the basic requirements in getting your loan approved?

To be eligible for a Loan Against Property, you should be at least 25 years of age at the time of borrowing and 65 at the time of completion of the loan. If you are a salaried individual, you should earn at least ₹ 20,000 per month and have a minimum of three years of experience. In case you are an entrepreneur, your income should be at least ₹2.5 lakhs per annum and have three years of experience in your current field.

Please check the Eligibility and Documents page for more details.

What can you use Loan Against Property for?

It is completely up to you on how you decide to spend the loan amount. Whether you are a salaried individual or a business enterprise, here are some of the end uses for Loan Against Property:

  • Personal needs
  • Business needs
  • Working Capital for Business
  • Renovation of property
  • Investments
  • Asset acquisition
  • Consolidation of debt
  • Mortgage buyout
  • Refinance of self-financed property.

4 reasons why Loan Against Property is the right choice for you

  • Multi-Usage of the Loan

Loan Against Property is one of the most diverse loans you can take. Using your property as collateral, you get access to funds that can address your needs. You have the choice to use the money to expand your business or use it for more personal reasons such as education or wedding. You can even use it to renovate your home or for unexpected medical expenses. It is entirely up to you as you have full freedom.

  • You still own the property

You use your property only as collateral while you continue to own the valuable asset. Only in the event that you feel that you are unable to repay the loan amount, you get the choice to sell your property in order to settle the loan. However, you have the power to tailor you repayment options to make sure you never have to lose your property.

  • Choice in property type

You have the choice when it comes to what kind of property you wish to use to secure a loan. We at Tata Capital accept both residential and commercial properties as collateral. You can also apply for Loan Against Property if you own the property with other people as long as they are also co-applicants of the loan.

  • You repay at your convenience

At Tata Capital, we offer Loan Against Property that is completely customisable to your needs. You can tailor your loan while selecting your loan tenure, amount and your repayment option according to what works best for you. 

Loan Against Property Prime Lending Rates

 

 Effective Date                                                                      Prime Lending Rate                                            
 1st January, 2019  17.45%
 1st October, 2018  17.15%
 1st July, 2018  16.85%
 1st May, 2018  16.65%
 1st November, 2015  16.50%
 1st May, 2015  16.65%
 10th December, 2013  16.75%
 1st September, 2013  16.65%
 1st October, 2011  16.50%
 1st July, 2011  16.00%
 1st April, 2011  15.50%
 20th December, 2010  14.75%
 15th November, 2010  14.25%
 1st January, 2009  13.75%

Features and Advantages

Swift Processing

We know that you need funds right now, which is why your application request are processed on priority. With minimal paperwork, the entire process is designed keeping your comfort in mind. It’s easy. It’s fast. And you’re set. 

Diverse Collaterals Accepted

We accept a wide range of collateral in order to fund your needs. From pre-owned residential properties to commercial buildings, we work with you and for you. 

Overdraft Facility

Need some extra cash? We will give you the credit you need, and you can take care of yourself and your loved ones. 

Pre-Qualified Top Up

You are special to us. Now, our existing customer gets pre-qualified Top Up loan. You never have to worry about funds with us. 

Interest Rates

Our interest rates starts at 10.5% and are competitive amongst the other players in the industry . However, it ultimately depends on loan eligibility, income and other criteria to determine the interest rates for the loan offered.

How much EMI do you need to pay?

Equated Monthly Instalment (EMI) depends on the principal loan amount, the interest rate charged and the period for which the loan is taken.

You can choose your EMI amount that is comfortable for you by checking our EMI Options.

How can you repay your Loan Against Property?

You can decide how you want to repay the loan. For a fixed amount of loan and interest, you can choose the tenure and EMI  that is comfortable to you. The longer the tenure, lower will be the EMI. You can also prepay your loan after meeting defined terms and conditions. 

You can pay your loan through auto debit or ECS facility. In exceptional cases, you can also opt for post-dated cheque payment facility.

Eligibility and Documentation

Whether you are salaried, self-employed or a business enterprise, we have set some basic parameters to be eligible for Loan Against Property.

Parameters Salaried Self Employed Professionals Self Employed Non-Professionals (Individuals) Non Individuals
Segment Working in MNC / Public Ltd. Co/ Large Pvt. Ltd. Co./State Govt/ Central Govt. / PSU Doctors, Architects, Chartered Accountants Traders, Retailers and wholesalers Firm, Pvt Ltd , Public
Age Minimum- 25 Years Maximum- 60 Years at loan maturity Minimum- 25 Years Maximum- 60 Years at loan maturity Minimum- 25 Years Maximum- 60 Years at loan maturity N/A
Income Per Month Rs 2,40,000 Rs 2,50,000 Rs 2,50,000 Rs 3,00,000
Occupational Stability Minimum 3 Years Minimum 3 Years Minimum 3 Years Minimum 3 Years (with two years cash profit)

 

 

What are the documents I require for a Loan Against Property?

You only need to provide some basic documents for us to process your Loan Against Property.

Documents Salaried SEP/SENP Non-Individual
Application Form Yes Yes Yes
Photograph Yes Yes Yes
Identity Proof Yes Yes Yes
Residence Proof Yes Yes Yes
Signature Verification Yes Yes Yes
Income Details Form 16 and latest 2 months salary slips IT returns, Profit&Loss and Balance Sheet IT returns, Profit&Loss and Balance Sheet
Bank Statements Latest 6 months Latest 6 months Latest 6 months

Checking your Eligibility

What are the documents I require for a Loan Against Property?

You have to meet some basic conditions to get Loan Against Property. At Tata Capital, we believe in extending a loan with minimal paperwork, reasonable interest rate and flexi EMI plans.

What’s the maximum amount of Home Extension Loan you can avail?

The maximum amount will depend on your needs and eligibility and it is customisable. 

Calculators

What is a Tata Capital Loan Against Property EMI Calculator?

You can calculate how much your loan repayments might be! Tata Capital Loan Against Property EMI calculator will give you an estimated figure for the total monthly instalment payments along with the complete breakup of the repayment process. You can now strategize your repayment schedule in advance with help of our EMI calculator.

What does the Loan Against Property EMI Stand for?

EMI stands for Equated Monthly Instalments. It includes repayment of the principal amount and payment of the interest on the outstanding amount of your Loan Against Property. A longer loan tenure for maximum period helps in reducing the EMI’s... The exact percentage of principal and interest depends on the interest rate charged and the tenure for which the loan is taken.

How to calculate your EMI using a calculator?

Enter the following information to calculate your EMI:

  • Loan Against Property Loan Amount (the loan amount you wish to get)
  • Interest Rate (Tata Capital’s interest rate begins at 10.5%)
  • Loan Tenure (Tata Capital offers you maximum tenure of 30 years to repay your loan )
  • Click the Calculate button. The system shows your EMI monthly break-up of both the interest and principal payment.
  • If the Loan Against Property EMI is higher or lower than you want to pay, edit the principal amount and follow the same steps from 2 to 4.

The 3 Hows of deciding the right EMI

  • How soon do you want to pay off the Loan Against Property?
  • How much can you afford to pay in a month?
  • How much of an interest rate are you comfortable with?

Why Choose Us

6 Reasons why we are the right fit for you and your home

We care about you

We offer Loan Against Property to meet your fund requirements without bothering you with too many formalities other than the statutory requirements as prescribed by law. 

We offer attractive interest rates

Our interest rates are competitive and affordable. We let you tailor everything according to your convenience and ability to repay. 

We’re flexible

Our Loan Against Property lets you choose the loan amount, tenure and EMI period for which you need the loan. 

We are not going to make you run around

We only ask for minimal documentation to process your application. We just need some mandatory information like the source of your income and the purpose for the loan.

We provide tailor made loans

Our personalised approach gives us the edge and has left countless of our customers satisfied. You are not just an application form to us. We understand that one size doesn’t fit all. 

We’ve been in the industry for a long time

This means we understand your needs and we will tailor our services to your needs. If you look good, we look good too.  

WHY CHOOSE US

CUSTOMIZED PRODUCTS
MINIMUM DOCUMENTATION
EASY APPLICATION PROCESS
STRONG AFTER SALES SERVICE