Loan Against Property
Expand your business, pay for further education or meet medical needs with a Loan against Property
Overview
Apply for Indusind Bank Loan against Property to meet your business or personal needs. Our “Loan against Property” solutions will help you unlock the hidden value of your property. With this multi-purpose loan you can now fulfill any of your personal or business needs. What’s more, this loan can be comfortably repaid over a period of 20 years.
Variants of Loan Against Property
Loan Against Residential or Commercial Property
Additional Finance
Balance Transfer
Lease Rental Discounting
Loan for Purchase of Commercial Property
Benefits of Loan Against Property
Faster Mode of raising immediate long term funds
Higher Loan amount
Funds can be used to meet Business or Personal needs
Doorstep Services
Eligibility Criteria Loan Against Property
Eligibilty for Loans Against Property
Following constitution borrowers are eligible
- Individuals/Proprietorship concerns
- Partnership firms
- Private Limited Companies
- Closely held Public Ltd Companies (not listed on any stock exchange)
Salaried Individual
- Any individual employed permanently in any Public sector Undertaking, Government undertaking, Multi National Company, Listed public limited company or well-known private limited company can apply
- Minimum age at the time of loan application should be 21 years & maximum age at loan maturity should be lower than retirement age
Self Employed Professional/Non Professionals
- Doctors, Charted Accountants, Cost Accountants, Architects, Engineers, Company Secretary, CFA's can apply
- Any individual filling Income Tax returns can apply
- Minimum age at the time of loan application should be 21 years & maximum age at loan maturity should not exceed of 70 years
FAQ
What is a Loan Against Property?
A loan against property (LAP) is a mortgage loan that is offered to individuals, companies or firms against any of their existing residential or commercial property. This type of loan is ideal for people who are in need of immediate funds for different purposes such as expanding their business or meeting some of their personal financial needs. The main advantage of getting LAP is you can still hold on to your property and raise funds for your needs.
How much maximum amount can I avail myself of on a property as LAP?
The maximum amount of loan you can get depends on your profile and eligibility rating. In addition, the amount also depends on certain other factors such as your monthly income, age, credit score, monthly financial obligations, retirement age and credit history.
What is the procedure to apply for a Loan Against Property?
Applicants can use any of the methods given below to apply for LAP:
- Fill up the online application form and one of our representatives will get in touch with you to help you complete the process.
- Call our phone banking number available on the website
- Visit the nearest IndusInd Bank branch
- Get in touch with your relationship manager for more details to apply for LAP
What will be the maximum tenure for which the loan will be offered?
The maximum tenure offered by IndusInd Bank for LAP is 20 years.
What security/collateral do I have to provide in Loan against Property?
You can use your residential property as collateral. Apart from that, if you have any commercial property such as a shop or office, you can also use these as collateral.