What are the benefits of a Loan Against Property?

A loan against property is a convenient means of securing immediate funds for varying financial needs. It offers exciting benefits such as- Multipurpose loan Attractive interest rates Flexible loan tenure Low processing fee Simple application process Fast approval and disbursal

Am I eligible for a Loan Against Property?

At Tata Capital, our loans come with easy-to-meet eligibility criteria, which differ for salaried or self-employed individuals. Here are the basic eligibility criteria- For Salaried Individuals Segment- Working in MNC/ Large Pvt. Ltd. Co./ Public Ltd. Co./ State Govt./ PSU/ Central Govt. Must be between the age of 23 to 65 years or retirement age (whichever is earlier) The Monthly Net Income must be at least 15,000 Must be working for at least 3 years For Self-Employed Professionals The applicant must be between the age of 23 to 70 years (at loan maturity) Segment- Doctors, Chartered Accountants, Architects The applicant must have a minimum annual income of Rs. 2,50,000 The applicant must be in the profession for at least 3 years For Self-Employed Individuals (Non-Professionals) Segment- Retailers, Wholesalers, Traders, Manufacturer Age- 23 to 70 years (at maturity) Must have a minimum annual income of Rs. 2,50,000 Must be working in the business for at least 3 years Non-Individuals Segment- Firm, Pvt. Ltd., Public Must have occupational stability of at least 5 years (with at least 2 years of cash profit)

What are the Flexi EMI plans available to me?

With Tata Capital, you can choose from a standard and flexible EMI structure depending on your income. Under the Standard EMI plan, your EMI amount remains the same for the entire loan tenure, and you make consistent payments. It is ideal for applicants with a fixed income. Under the Step up Flexi plan, you can pay lower EMI at the beginning and gradually increase the payment with an increase in income. Individuals who expect a regular increase in their income can benefit from this plan and manage their income flow more efficiently.

How do you get a Loan Against Property?

Securing a loan against property with Tata Capital is fairly simple and quick. All you need to do is- Visit our website and fill in the application form Upload the necessary documents Wait while we process your application and verify the documents Get instant approval

Top Up Loan Against Property: Eligibility, Benefits and How It Works

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Loan Against Property
Topup Facility

Why Choose Tata Capital for a loan against property Top Up Facility?

A quick and easy loan approval process

If you are an existing customer, your creditworthiness has been assessed and verified. So, you are already qualified for a top-up loan.

A high loan amount

You can borrow 100% or more of your current loan amount on top of your existing loan.

Attractive interest rates

Loan against property top-up loans offer you the same attractive rates of interest as your ongoing loan. However, you can negotiate for even lower interest rates.

Long loan tenure

The loan tenure of the mortgage top-up loan is based on the tenure of the original home loan. You can enjoy a tenure of up to 15 Years if you take a mortgage loan top-up.

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What is a Top Up Loan Against Property?

Do you need to borrow additional funds on top of your ongoing Loan Against Property? Through a mortgage loan top-up facility, you can take another loan along with your current loan and use the funds to fulfill your personal financial needs.

Tata Capital's LAP top-up facility allows existing customers to exclusively avail of a loan over and above the existing mortgage loan. You can take a loan of 100% or more of the current loan amount. With this hassle-free top-up loan, you can access funds immediately and use them for your personal needs, such as medical emergencies, home renovation, and more.

Minimum Loan value

1 Lac onwards

Maximum Loan Value

10 Cr

Interest rate starting @

9%* p.a. onwards

View Rates & Charges

Benefits of a Top-up Loan Against Property

A Top-up Loan on an existing Loan Against Property can offer several advantages compared to taking a new loan from another lender:

No need for fresh property evaluation: Since the property is already mortgaged and valued, the top-up process is faster and involves less paperwork.
Competitive interest rates: Top-up Loan rates are generally more favourable than those of unsecured options like Personal Loans.
Flexible use of funds: The Top-up Loan amount can be used for business needs, education, medical expenses, home renovation, or other personal or professional purposes.
Easy approval for existing borrowers: Since you already have a Loan Against Property, the Top-up Loan may involve minimal paperwork and faster approval or disbursal.

Effortless repayment with one EMI: The Top-up Loan amount is added to your existing LAP, allowing you to repay everything through a single, easy monthly EMI.

Eligibility Criteria for Top Up Loan Against Property

Top Up Eligibility for Salaried Individuals

You should be employed for a minimum of three years in any of the following: an MNC, public ltd. firm, private ltd. company, PSU, state government institution, or a central government institution.
At the time of application, you must be at least 23 years old
At the end of tenure, you can be up to 65 years of age or retirement age, whichever falls first before the date of loan maturity.
The Monthly Net Income must be at least 15,000

Top Up Eligibility for Self-Employed Professionals

Self-employed professionals like doctors, architects, and chartered accountants can apply for a LAP.
The minimum age of the time of application should be 23 years. The applicant can be up to 70 years of age at the time of loan maturity
The minimum annual income should be Rs. 2,50,000.
The applicant should be employed steadily and have a stable income for at least 3 years

Top Up Eligibility for Self-Employed Non-Professionals

Self-employed non-professionals like traders, retailers, and wholesalers can apply
The minimum age of the time of application should be 23 years
The applicant can be up to 70 years of age at the time of loan maturity
The minimum income per annum should be Rs. 2,50,000
The applicant should be employed and earning a stable income for at least 3 years

Top Up Eligibility for Non-Individuals

You can take the loan for a private ltd. or public ltd. companies
The company should be operational for at least 5 years and show two consecutive years of cash profit

Documents Required for LAP Top Up

To apply for a Tata Capital Loan Against Property (LAP) top-up, certain documents may be required to verify your identity, income, and property details.

Identity and address proof: Aadhaar Card, PAN Card, Voter ID, Driving Licence, or Passport.
Income proof:
- Salaried applicants: Salary slips for the last 3 months, bank statements for the past 6 months, and the latest Form 16 or Income Tax returns (ITR).
- Self-employed applicants: Bank statements for the past 3 months, ITR, and audited Balance Sheet and Profit and Loss statement for the past 2 years.
Property and existing loan documents: Relevant documents related to the property and the current LAP.

How to Apply for a Top-up Loan Against Property

At Tata Capital, you can apply for a top-up on your existing Loan Against Property by following a few simple steps through our easy application process.

1. Start the application: Start your request by choosing an option such as applying online, requesting a call, or connecting through available contact channels.
2. Share your basic details: Provide your personal details, employment status, and income so your application can be reviewed properly.
3. Check eligibility: Based on the details provided and your existing loan profile, your eligibility and applicable interest rate are assessed.
4. Enter the required top-up amount: Specify the additional loan amount you wish to borrow.
5. Provide current loan details: Share information about your existing LAP for verification.
6. Upload documents: Submit the required documents to complete verification and proceed with processing.

Once the review is completed, Tata Capital processes your application and proceeds with the next steps for loan approval and disbursal.

Frequently Asked Questions

A Top-up Loan Against Property is an additional loan offered on an existing LAP. It uses the same property as collateral, with eligibility based on its value and repayment history.

Financial emergencies can knock at your door without warning. And when that happens, you can make the most of your owned property with a Loan Against Property. It is a secured form of finance that you can avail against self owned property and get immediate access to funds for all your urgent needs – from business expansion to a personal needs .

A loan against property is a convenient means of securing immediate funds for varying financial needs. It offers exciting benefits such as-

Multipurpose loan
Attractive interest rates
Flexible loan tenure
Low processing fee
Simple application process
Fast approval and disbursal

It is a common myth that only residential property can be used as collateral for a Loan Against Property. You can avail a loan by pledging a wide range of properties, including residential, commercial, industrial properties, and plots, subject to eligibility and due diligence.

Yes, you can easily secure a loan against a co-owned property. However, all the co-owners have to apply for the loan as co-applicants.

Excited to give your home a makeover? Need funds for business expansion? Or need to take care of a personal expense? With a Loan Against Property from Tata Capital, there are no restrictions on the end-use of funds. Here are the various ways you can use a loan against property –

Personal needs such as Marriage, Higher education to children, medicale emergency etc

Property renovation

Debt consolidation

Fulfil working capital needs of business

Mortgage buyout

Refinancing self-financed property

No. The processing fee is non-refundable under any situation, such as rejection or withdrawal of the loan application. It covers the expenses we incur to process your loan application, including calculating your eligibility, assessing your loan application, verification of documents, and so on.

At Tata Capital, we offer a flexible tenure to make the loan repayment super comfortable for you. You can avail of a loan against property for a maximum term of up to 240 months.

There are times when you might receive a sudden inflow of cash. In such situations, you can easily pre-pay your loan against property in part or in full and reduce your outstanding amount.

The maximum loan amount you can borrow depends on your eligibility and is customisable to suit your needs. We extend an affordable loan against property for up to Rs. 10 crores.

We offer highly competitive interest rates starting from 9*% onwards for Floating rate of interest and 13*% for fixed rate of interest. Moreover, we offer flexible loan tenure and a convenient EMI structure to make your loan extremely affordable.

At Tata Capital, our loans come with easy-to-meet eligibility criteria, which differ for salaried or self-employed individuals. Here are the basic eligibility criteria-

For Salaried Individuals

Segment- Working in MNC/ Large Pvt. Ltd. Co./ Public Ltd. Co./ State Govt./ PSU/ Central Govt.
Must be between the age of 23 to 65 years or retirement age (whichever is earlier)
The Monthly Net Income must be at least 15,000
Must be working for at least 3 years

For Self-Employed Professionals

The applicant must be between the age of 23 to 70 years (at loan maturity)
Segment- Doctors, Chartered Accountants, Architects
The applicant must have a minimum annual income of Rs. 2,50,000
The applicant must be in the profession for at least 3 years

For Self-Employed Individuals (Non-Professionals)

Segment- Retailers, Wholesalers, Traders, Manufacturer
Age- 23 to 70 years (at maturity)
Must have a minimum annual income of Rs. 2,50,000
Must be working in the business for at least 3 years

Non-Individuals

Segment- Firm, Pvt. Ltd., Public
Must have occupational stability of at least 5 years (with at least 2 years of cash profit)

With Tata Capital, you can choose from a standard and flexible EMI structure depending on your income.

Under the Standard EMI plan, your EMI amount remains the same for the entire loan tenure, and you make consistent payments. It is ideal for applicants with a fixed income.
Under the Step up Flexi plan, you can pay lower EMI at the beginning and gradually increase the payment with an increase in income. Individuals who expect a regular increase in their income can benefit from this plan and manage their income flow more efficiently.

Securing a loan against property with Tata Capital is fairly simple and quick. All you need to do is-

Visit our website and fill in the application form
Upload the necessary documents
Wait while we process your application and verify the documents
Get instant approval

At Tata Capital, your convenience is our priority. That is why we offer you various easy ways to apply for a loan.

Online

Visit our website and share your details by clicking here

Branch

Visit your nearest branch and get in touch with our lending experts. Rest assured, you can secure a loan hassle-free as they will manage the loan process, from application to disbursal.

Phone

Looking to know more? Call us on our customer care number at 1860 267 6060 from 9 am to 8 pm.

Virtual Assistant

Ditch the long wait and get answers to your queries in real time! Connect with our 24/7 virtual assistant and enjoy a hassle-free loan application experience!

Existing Tata Capital LAP borrowers with a good repayment record may apply for a Top-up Loan. Eligibility also depends on the remaining property value and the borrower's ability to repay the additional EMI.

The Top-up Loan amount depends on the property's current market value, the outstanding balance on the existing LAP, and the lender’s loan-to-value (LTV) limits.

Interest rates for a Top-up Loan Against Property depend on factors such as the borrower's profile, property value, loan amount, repayment capacity, and the lender's prevailing terms.