Loan Against property (LAP) is a secured loan which you can avail by mortgaging your property. Banks and financial institutions provides mortgage Loan Against Property for residential, commercial property or land etc. It's a secured loan i.e. in case of loan default, bank can takeover the property and use it to recover loan dues. However the ownership of the property stays with you throughout the whole tenure. You can normally use or rent out the property,in case of loan against commercial property. Only if you can not repay the loan, the bank can sell the property to settle its debts. In case of joint ownership all co-owners need to be co-applicants in the loan......

1. Loan Against property (LAP) is a secured loan which you can avail by mortgaging your
property. Banks and financial institutions provides mortgage Loan Against Property for
residential, commercial property or land etc. It's a secured loan i.e. in case of loan default, bank
can takeover the property and use it to recover loan dues. However the ownership of the property
stays with you throughout the whole tenure. You can normally use or rent out the property,in
case of loan against commercial property. Only if you can not repay the loan, the bank can sell
the property to settle its debts. In case of joint ownership all co-owners need to be co-applicants
in the loan.
We at LoanAdda streamline the process of applying for loan against commercial property,
residential property/plot by enabling you to compare between best loan against property
(LAP)schemes, by teaming up with leading banks and NBFCs. With LoanAdda fund your
dreams using your property , whether you are looking to expand your business or need financial
aid for personal reasons such as education, home improvement or for wedding or other family
occasions,LoanAdda offers loan amount upto 10cr for a tenure of 15-20 years at lowest loan
against property interest rates.
Most financial institutions have similar rules and parameters to check your loan against
property eligibility depending on your repayment capacity( based on your annual income and
past loans and other commitments ) & proper legal and technical verification of the property
against which a loan is to be sanctioned. It includes physical visit to the property, ownership
verification and valuation of property by a trusted valuer. Though all banks follow different
norms the maximum loan amount one can avail is 60% of the property value. At LoanAdda
cheapest loan against property interest rates are available, starting as low as 8.50% .
Mortgage loan against property eligibility is evaluated on following benchmarks:
● Income- must be a salaried or self employed individual with a stable income source.
● Age- must be between 24-60 years.
● Credit score.
● Total assets and liabilities.
● No of dependants.
Documents Required for Loan Against property:
Property documents:
1. Occupancy Certificate.
2. Approved Plan of building.
3. Share certificate copy.
4. Past 13 years Chain of deeds.
5. Nil Encumbrance Certificate - EC (if applicable).

2. 6. Current Sale agreement/ Draft Agreement to sell.
Personal Documents:
DOCUMENTS FOR SALARIED
INDIVIDUAL
FOR SELF EMPLOYED
INDIVIDUAL
FILLED APPLICATION FORM
IDENTITY, RESIDENCE,
AGE PROOF
LAST 6 MONTHS BANK
STATEMENT
LAST 3 MONTHS SALARY
SLIP
PROCESSING FEE CHEQUE
FORM 16/ ITR
PROOF OF BUSINESS
EXISTENCE
BUSINESS PROFILE
TAX RETURNS OF LAST 3
YEARS FOR THE EXISTING
BUSINESS
LAST 3 YEARS BALANCE
SHEET, PROFIT/LOSS
ACCOUNT, CA
CERTIFICATES
To better evaluate your loan against property options our online EMI calculator helps you
calculate your monthly installments for repayment of your Loan Against property. Our EMI
calculator is very easy to use. All you need to do is enter the following information:

3. 1.The Loan Amount
2.Tenor( In Months)
3.Rate Of Interest
And it calculates total amount payable every month until the loan has been fully repaid.
Now use your property to boost your business or meet your personal financial requirements with
LoanAdda’s various Loan Against property schemes. By using your property as security, you
can easily avail a mortgage loan at cheaper interest rates than a unsecured personal loan, also
the tenure of your loan against property may be up to 20 years. LoanAdda lets you unlock the
value of your property to enable you to fund all your financial necessities. Compare online
between best mortgage loans from top lenders with lowest loan against property interest rates
on LoanAdda and opt the one best suited to you. Our on call experts are also here to help you at
every step right till disbursal of your loan amount.