Mortgage Loan (LAP)

Want financial help? Why not go for a loan against property.

EMI Calculated

Principal Amt :
Down Payment(DP) :
Rate of Interest :
1 %
Tenure :
1 yr.
Total Interest :
Total Amount Payable (Principal + Interest) :

Equated Monthly Installments (EMI)


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Steps To Apply

A loan against property can be availed for residential and commercial properties, generally for business and personal requirements This loan can also be obtained for a marriage, education, medical expenses, business in exchange for a commercial or a personal property.
Individuals get a fixed amount of funds for buying the property which is repayable with interest. It is a secured loan that considers age bracket, CIBIL score, occupation, earnings, and property value.

What is Mortgage Loan?

A mortgage is a sort of loan that can be used to purchase or refinance a home. “Mortgage loans” is another term for mortgages. Mortgages allow you to purchase a home without having to pay in full upfront.

Where we can use this Mortgage Loan?

Amongst an array of financing options available in the market, a Loan against Property has gained popularity amongst borrowers. One distinct reason for its popularity is the myriad uses of Loan against Property. You can use the funds for manifold purposes like

Personal Use

• Healthcare and medical issues
• Higher education
• Wedding
• Down-payment of a high-value purchase

Business Use

• Business trip overseas
• Business expansion
• Stock inventory
• Marketing and promotion

Loan Against Property is a secured mode of finance, therefore the interest rates are comparatively lower. This leads to lower EMIs which makes it easy for the borrower to address other financial needs without stressing the budget. The tenure of Loan Against Property repayment is generally long.

What are the proceesing fees for Mortgage Loan?

At the time of application login, an up front processing fee of Rs 5000 plus GST will be collected. This fee will not be returned under any circumstances, including loan rejection/withdrawal, non-disbursement of a loan for reasons wholly due to the customer. The balance processing charge will be collected at the time of loan disbursement, if applicable.

What is Mortgage Loan tenor?

One can take a loan against a property for 2 years to 5 years. Also, you can enjoy extending the tenure depending on the eligibility

How can one repay the Mortgage Loan ahead of schedule?

You can do so by setting aside money throughout the year and using it for prepayment. Prepaying a certain amount towards your principal each year is one way to do this. You must do this in addition to your EMI installments. Plan your spending over the course of the year and set aside a set amount of money each year.

Do you need to provide a collateral or security for Mortgage Loan?


Who can be co-applicants for mortgage loan?

The applicants’s Spouse, Brothers, Father & Son, Mother & Son, Parents and their unmarried daughter.

What are the types of Mortgage Loans in India?

Loan against property :
Property as collateral for a loan is frequently referred to as LAP. LAP is available for both business and residential buildings. In order to obtain loans from lending organizations, borrowers must mortgage their property.
Commercial purchase : 
Businessmen and entrepreneurs frequently use commercial acquisition loans. They use these loans to purchase commercial properties such as a shop, an office building, or a business complex. For such items, this loan is ideal.
Lease rental discounting : 
It is fairly typical to lease our own residential or commercial property. Leasing properties can also be used as collateral for mortgage loans.

Eligibility Criteria For Loan





23 years to 58 years

28 years to 65 years



Minimum turnover of Rs.40 lakhs


Above 750

Above 750

Documents for Loan Application



Application form with photograph

Application form with photograph

Identity and Residence proof

Identity and Residence proof

Last 6 months bank statements

Last 6 months bank statements

Processing fee cheque

Processing fee cheque

Latest Salary Slip

Latest Salary Slip

Form 16

Business Profile and Previous 3 years Income Tax returns (self and business)

Previous 3 years Profit/Loss and Balance Sheet